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  • FIRST POST
    • N6CNH
    • By N6CNH 6th Aug 18, 9:48 PM
    • 1,035Posts
    • 10,780Thanks
    N6CNH
    Halifax Clarity vs Monzo
    • #1
    • 6th Aug 18, 9:48 PM
    Halifax Clarity vs Monzo 6th Aug 18 at 9:48 PM
    I travel 6 months out of the year and have been using the Halifax Clarity credit card for the best exchange rate (and to save me carrying cash) for the best part of 2 years.

    However, I'm looking to move away from credit cards and so I've been looking for an alternative... Which is when I found Monzo.

    I'm struggling to find an answer to my question about exchange rates though. While Monzo decares it's exchange rates are;
    We believe everyone should be able to use their debit cards to spend money abroad, without having to pay rip-off fees on each transaction.

    So, we pass the Mastercard exchange rate directly to all customers, without any markups.You can see the current exchange rates on the Mastercard website:

    Open Mastercard’s Currency Conversion Calculator
    Choose the currency you want to convert to
    Enter a ‘Transaction Amount’ (write ‘1’ if you just want to find out the rate)
    Type ‘0.00%’ when you’re asked to enter the ‘Bank Fee’
    And choose Great British Pound (GBP) as your ‘Card Currency’
    Tap ‘Calculate’ to see the current exchange rate!
    I can't find anything about the Halifax Clarity exchange rate. Being a MasterCard is it the same as Monzo?

    Monzo is now debit rather than credit so is it still Mastercard exchange rate based?

    TIA
Page 1
    • 20aday
    • By 20aday 6th Aug 18, 10:04 PM
    • 2,252 Posts
    • 936 Thanks
    20aday
    • #2
    • 6th Aug 18, 10:04 PM
    • #2
    • 6th Aug 18, 10:04 PM
    Looking here: https://www.halifax.co.uk/creditcards/clarity-card/

    It would appear Halifax only charge the MasterCard rate (without fees other than those outlined in your terms and conditions), the same as Monzo.

    Monzo cap ATM withdrawals to £200/month (otherwise you!!!8217;ll incur a 3% fee over that amount). I would look into Starling Bank as they are a current account who, again, don!!!8217;t charge for overseas transactions and they don!!!8217;t seemingly cap ATM withdrawals either.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
    • N6CNH
    • By N6CNH 6th Aug 18, 10:07 PM
    • 1,035 Posts
    • 10,780 Thanks
    N6CNH
    • #3
    • 6th Aug 18, 10:07 PM
    • #3
    • 6th Aug 18, 10:07 PM
    I don't withdraw from ATM - I like to be 'cashless' so that's not a problem for me.

    I'll check out the Starling one. Thanks.
    • jonesMUFCforever
    • By jonesMUFCforever 6th Aug 18, 10:10 PM
    • 25,065 Posts
    • 12,317 Thanks
    jonesMUFCforever
    • #4
    • 6th Aug 18, 10:10 PM
    • #4
    • 6th Aug 18, 10:10 PM
    Your decision IMO should also factor in the scenario -- What if?
    Who would be best to deal with emergencies - who has the better back office to help you??

    I know who I would choose but then I'm old school.
    What goes around - comes around
    give lots and you will always receive lots
    • eDicky
    • By eDicky 7th Aug 18, 1:04 AM
    • 3,692 Posts
    • 1,849 Thanks
    eDicky
    • #5
    • 7th Aug 18, 1:04 AM
    • #5
    • 7th Aug 18, 1:04 AM
    I can't find anything about the Halifax Clarity exchange rate. Being a MasterCard is it the same as Monzo?

    Monzo is now debit rather than credit so is it still Mastercard exchange rate based?
    Originally posted by N6CNH
    Yes, both convert your pounds at the MasterCard exchange rate on the date of settlement of a transaction (couple of days or so after), without any loading on the rate by the card issuer. Starling Bank and Loot prepaid account the same.

    Why not use both? Its not wise to rely on only one card when traveling in case of failure, loss, decline etc.
    • takman
    • By takman 7th Aug 18, 11:27 AM
    • 3,593 Posts
    • 3,216 Thanks
    takman
    • #6
    • 7th Aug 18, 11:27 AM
    • #6
    • 7th Aug 18, 11:27 AM
    You should definitely have both with you at least just in case you have any issues.

    When i was driving abroad earlier in the year the toll booth would not accept Monzo but it did accept my Halifax Clarity. So that could have been an issue if it only had Monzo!
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