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What Is the Monzo Exchange Rate? (And How to Get It on All Your Cards)

If you’ve ever used your bank card abroad, you’ve probably noticed that the exchange rate never quite matches what you saw on Google. That’s because most banks and credit card providers quietly add a markup on top of the real exchange rate. And then, just to rub salt in the wound, they often throw in a foreign transaction fee too — typically around 2-3%.

That’s where Monzo stands out. The Monzo exchange rate is based directly on the Mastercard exchange rate, with no markups and no hidden fees. So when you spend abroad with Monzo, you’re getting a far better deal than you would with most traditional banks.

But here’s something you might not know: you can get the same Monzo exchange rate on all your existing debit and credit cards — without switching banks — just by using a smart digital wallet called Curve.

Why the Monzo Exchange Rate Is So Good

Let’s break it down:

• Monzo uses the Mastercard exchange rate.

• No extra markup is added — unlike many banks that sneak in 2-4%.

• No foreign transaction fees, which most cards charge on top of that markup.

So if you're travelling or shopping online from international retailers, Monzo saves you money with every tap.

But what if you love your current credit card perks, or don’t want to open a new bank account? That’s where Curve comes in.

Meet Curve Wallet: Get Monzo-Level Exchange Rates on All Your Cards

Curve is a digital wallet that brings all your debit and credit cards into one app and one Curve card. And here's the magic: Curve gives you the same great Monzo exchange rate — with zero markup — on every card you link.

So whether you’re using your points-earning credit card, your high-interest savings debit card, or even a business account — Curve applies the Mastercard rate with no FX fees across the board.

This feature is called Killer FX, and it’s exclusive to Curve.

✅ No foreign transaction fees
✅ No exchange rate markups
✅ No need to switch banks

How to Set Up Curve in 3 Easy Steps

Getting started with Curve is super simple:

1. Download the Curve app from the App Store or Google Play.

2. Add your existing debit and credit cards to your Curve Wallet.

3. Order your Curve card (physical or digital) and start spending.

When you pay with your Curve card abroad, it charges your underlying card in GBP using the Mastercard exchange rate — just like Monzo — but with no extra fees.

Bonus Curve Benefits You’ll Love

Beyond amazing FX rates, Curve offers a bunch of extra travel-friendly perks:

✈️ 1% cashback outside Europe on all spend

💷 Fee-free ATM withdrawals abroad — up to £1,000 per month

🛫 Discounted airport lounge access for you and your travel companions

🎁 1% cashback at big-name travel brands like:

• Booking.com
• easyJet
• Uber
• BP
• Four Seasons
• And many more

That means you’re not only saving money on fees, you’re actually earning rewards while you travel.

TL;DR: How to Get the Monzo Exchange Rate Without Switching Banks

If you're a Monzo user, you're already benefiting from a fee-free Mastercard exchange rate. But if you're not — or if you want to extend that benefit to other cards — Curve Wallet is the ultimate travel hack.

With Curve, you get:

• The Monzo exchange rate on every card

• No FX fees or hidden markups

• Cashback and travel perks

• All your cards in one app

It’s the easiest way to travel smarter, spend like a local, and keep more of your money.