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Dynamic Currency Conversion (DCC)We use the Mastercard exchange rate with nothing on top. This means you can use Monzo to spend in any currency, without any extra fees or charges from us. Mastercard warns users that the costs are indicative, and could vary if your bank adds any additional fees, for example. The small print also explains that the. This currency converter tool provides foreign exchange rates by Mastercard to convert from the transaction currency to your card's currency.