MasterCard exchange rate vs 'inter bank exchange rate' / Metro bank customers

A question about : MasterCard exchange rate vs 'inter bank exchange rate' / Metro bank customers

Hi all

I recently joined Metro Bank as I'm planning on spending some months abroad and it seemed like the best option for converting my sterling. As I understand it, it performs the same as the Halifax Clarity card touted on MSE with regards to no fees, plus I can use ATMs without incurring interest.

Now my question is about exchange rates. I've heard the terms 'inter bank exchange rate', 'perfect exchange rate' and 'mastercard exchange rate' used in the articles here and elsewhere. Are they the same thing? The master card exchange rate on their website seem very close to those on xe.com.

On MSE it says the Halifax clarity offers a 'perfect exchange rate'. My Metro card will use the master card rate. So does anyone know if these are the same thing or which one will be better?

Thanks so much for your help!

Best answers:

• How much are you looking to take out?
• I don't know exactly, but lots - I'll be living there for a month or two, so travel + rent + food etc.
• Did you get an answer to your question?
• MetroBank use the Mastercard exchange rate:
  https://www.mastercard.com/global/cu...ion/index.html
  I assume Halifax Clarity uses the same one as it's also Mastercard.
  Mastercard (and Visa) set the rate and it lasts for the whole day (rates could change drastically on the interbank while theirs don't update until the next day. I'm not sure which timezone/time the rate changes though.
  Usually these aren't far off the interbank rates. I buy stuff for my family members in New Zealand with my metrobank card because it's so much cheaper than sending over cash via a money transfer (even at large amounts).