AMERICAN EXPRESS LOAD & GO CARD

SallyD · 12 November 2005 at 9:58AM

Please correct me if my interpretation about this card is incorrect. I telephoned AE and the results of my conversation were as follows:-

This card replaces travellers cheques - pay before you go! You CANNOT get cash from a Bank only an ATM - tricky if you are visiting places where ATM's are far and few. Also, whereas American Express bank is a member of the FSA, the subsidary that runs the card is not.

monkeyspanner · 12 November 2005 at 12:11PM

Just received one of these, and had a look at conditions. When you activate your card you are warned that in the event of insolvency your funds would not be covered by any compensation scheme so presumeably you are correct about FSA. ATM fees are £1.50 $2.50 Euro2.00, daily withdrawal limits £250 $440 Euro380. I cannot find anything about over the counter transactions other than you cannot use the card as a guarantee card for a personal cheque. There was an offer on this card at Thomson shops buy $750 min and get free $50 added to the card on activation but I think this ended 31October unless extended.

kristof_2 · 12 November 2005 at 12:36PM

The offer has been extended to the end of November.

I think it seems like a good idea if you get the 50 free euros just for taking out the card - but I would welcome any other points of view.

SallyD · 12 November 2005 at 1:01PM

My colleague actually got this card. I asked her how much you are charged each time you use it and she told me nothing. Only then did I look at the info that came with the card with instructions how to activate. There was no info about the charges. She had loaded up the card with £700 and also got $50. Because I put doubt in her mind she rang Customer Services. They should say they are not FSA members before you put your money in,not when you phone in with a query and be more clear about the charges and access to the cash! Decision was not to activate, had a struggle with Customer Services to cancel the card but AE have now agreed to credit her bank account. If you have not activated your card go for a refund and stick to conventional methods.

Cardew · 13 November 2005 at 3:18PM

There was a thread on this recently.

Lousy exchange rate, high charges for using it, little safeguards.

Why on earth do people use it(or travellers Cheques for that matter) and not debit/credit cards - especially Nationwide.

These days Visa/Mastercard is as easy to use in almost every country as High Street UK.

lisyloo · 13 November 2005 at 3:53PM

Why on earth do people use it(or travellers Cheques for that matter) and not debit/credit cards - especially Nationwide.

I use my platinum AMEX because of the 2% cashback. It's the best cashback rate there is as far as I know.
I put business expenses on it and so does my husband.

I wouldn't use it for personal expediture abroad. I would use Nationwide.

Cardew · 13 November 2005 at 6:37PM

lisyloo wrote:

I use my platinum AMEX because of the 2% cashback. It's the best cashback rate there is as far as I know.
I put business expenses on it and so does my husband.

I wouldn't use it for personal expediture abroad. I would use Nationwide.

The Platinum Amex is different from this card.

monkeyspanner · 3 January 2006 at 12:39PM

This card worked fine for me. Got my $50 bonus and a reasonable exchange rate. Used card to pay hotel bill, no charge. Only problem ATM charge was $2.50 PLUS the ATM owners charge of $2, so if you use an ATM withdraw maximum. Still $45.50 extra in hand. Will load up again next time in USA if I see any offers.

AMERICAN EXPRESS LOAD & GO CARD

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