Payments in the UK, cash withdrawals in the UK and payments abroad are all free – other than the Mastercard standard exchange rate - with no added fees. You can add this to the Apple Pay or Google Pay wallet. Use your card abroad as you would at home; there are no fees and you pay the wholesale MasterCard exchange rate No fees or charges in the UK or abroad In the future, Monzo plans to add new features like budgeting targets, transaction searches, and the ability to receive payments through Monzo… The best option for travelling abroad is to go cashless – and just take your mobile phone. Great features of Monzo for travel. Monzo Exchange Rate. 1 Like. Compatible with Google Pay and Apple Pay ... (which is offered by Revolut) and the Exchange Rate offered by Monzo: Revolut vs. Monzo Exchange Rate. Cheers, Val. With every Monzo Business account comes a Debit Mastercard with chip, contactless and swipe facility (Monzo does not offer credit cards). Monzo … save. You may use the Monzo card at any online or retail merchants around the world as long as they accept Mastercard. Products. What's more, you get the Mastercard Wholesale exchange rate, which tends to be ever-so-slightly better than VISA's rates. The Supporter – for £4.95 per month you will receive Monzo merchandise, access to prize draws and exclusive discounts and offers for members hide. Monzo uses the Mastercard exchange rate for currency exchanges. The card does charge interest on cash withdrawn abroad at 19.9% (21.9%-25.9% for poorer credit scorers), but this amounts to just £1.50 per £100 spent. All currency conversions will be based on Mastercard’s exchange rate with no added margin; Free ATM withdrawals. Monzo uses the Mastercard wholesale rate with no markup on the exchange rate, which gives you the best possible rate. When you are using your card abroad (or if you are using it online if you are buying in a foreign currency), then the Mastercard exchange rate will be used – without any additional fees from Monzo. When it comes to using an ATM, free cash withdrawals are limited to £200 per 30 days. You can deposit cash with Monzo at any PayPoint location across the UK, but you will be charged a £1 fee. Enjoy fee-free withdrawals from ATMs in the European Economic Area (EEA). Current Account – Monzo has a personal current account with no monthly fees, a free app and a hot coral Mastercard as standard; Monzo Plus – there are two premium packages available through Monzo Plus . Card, cash and cheques. DaveTMG 22 November 2017 08:20 #9. This is not the same as the interbank rate . Mastercard’s exchange rates. share. There are no charges for opening or running a Monzo current account. With my Monzo card I got a Euro rate of 1.17 and with Revolut 1.15. Best exchange rates possible - Based on Mastercard rates settled 3 days after transactions are made; £200 worth of free withdrawals abroad - 3% charge above this; The ability to apply for an overdraft - we love this! If you are being billed in the local currency, they use Mastercard’s exchange rate with a 0.0% fee. Curious to know whether I will get a better exchange rate if I buy Euros in advance to take or just withdraw cash from atms while out there? My wife and I both have Monzo accounts as well as a joint account so potentially access to plenty of cash without paying a withdrawal fee. 6 comments. Unlike many high street banks, Monzo does not charge you when you use its card to pay abroad and there is no mark-up exchange rate. report. Long as they accept Mastercard Monzo exchange rate for currency exchanges Mastercard exchange rate, which tends to be better... Be charged a £1 fee abroad is to go cashless – and just your... 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