The Mastercard interbank rate and Monzo



I travelled to Belgium a couple of weeks ago and did two ATM withdrawls from the same ATM one after the other. With my Monzo card I got a Euro rate of 1.17 and with Revolut 1.15.

Can someone explain the difference to me so I can understand this better?

I used to swear by Revolut and was kindof anti Monzo, but now it seems things have changed. Revolut seem to be all over the show trying to do too much and expand too quickly perhaps. For instance the monthly ATM withdraw limits are night and day £200 on Revolut vs £2000 on Monzo. Wow.

Not a dig, purely feedback, but is there really any reason to use Revolut anymore besides money transfers?


Was this during the weekend?


Correct. Is it to do with the market closing? We did the same thing in Moscow, monzo easily on top rate wise. I know it’s not major but when you’re travelling in a big group, there are some savings…


I agree. I had the Revolut card first and got Monzo as a back up.
Just done a trip to the US and was very disappointed with the Revolut security failures disabling my card unnecessarily! I didn’t use the Revolut card for cash withdrawal (which is what they want of course). I used the Monzo card, which worked perfectly. So that will now be my main card and the Revolut card will become a back up ~ if it works!
The difference in exchange rates you quoted will be the weekend locked rate that Revolut applies.

If Revolut can make their security sytem work then using the Revolut card at POS should be OK.


Revolut doesn’t use Mastercard rates, which makes other banks have a much better rate on weekends, and on weekdays it is usually the same or a meaningless bit more so I am not sure why revolut is using interbank rates as they are not useful at all on weekends


Try Starling. They offer the same rates as Monzo but have a full current account up and running already. It’s a full account so you won’t run into any issues with it being a prepaid card like Monzo’s or Revolut.

Try them and just check out their in app customer support, lightning quick and get any issues or queries sorted first time.

I’m about to move my main account over to them, I’ve tried them with various queries etc over the past 3 weeks and they’ve passed with flying colours!!


I use Monzo, N26. I just have been kicked out from Revolut for unknown reasons. To get my money back is a nightmare. They sent my money back to my friends who are also blocked and do not understand what’s going on.
If you want a good piece of advice. Use N26 and Monzo. No problem with them and they have a good service.
I don’t think that Revolut will last long if they don’t change drastically their methods. Lousy service, impossible to have quick and precise answers from the chat. Andreas who seems to be a nice guy spends more time apologizing than answering your questions with precision and efficiency. I learn my lesson, you want to save a few cents and you end up getting trapped in an endless labyrinth.
I just have been told that my account is now empty but I still dont know where exactly my money went. No statement, no explanation… and the so called compliance department asking you a bunch of irrelevant questions and taking days to come back to you.


Hi :wave:,

We’ve recently published a blog about the Interbank Exchange Rate (which is offered by Revolut) and the Exchange Rate offered by Monzo:

Revolut vs. Monzo Exchange Rate



That post is a bit disingenuous, there are often times when the mastercard rate is better than the interbank rate.