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MSE News: My Travel Cash axes prepaid travel cards - what to do if you've got one
Former_MSE_Maeve
Posts: 5 Forumite
If you've a prepaid travel card with My Travel Cash you've until 4 October to withdraw or spend your money, after the firm announced it's scrapping the cards....
Read the full story:
'My Travel Cash axes prepaid travel cards - what to do if you've got one'
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'My Travel Cash axes prepaid travel cards - what to do if you've got one'
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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Basically UK is no longer good for business due to the brexit and better to focus on the countries who are Staying in E.U
Sad but not uncommon"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Brexit had nothing to do with this.
My Travel Cash cards were one to avoid as, not only were their exchange rates poor, they imposed a punitive €2.50 a month inactivity fee after 12 months. They saw a chance of making a quick buck and now they are taking their profits.
The final kick in the teeth for cardholders is the redemption fee they charge for getting back what little money they have left.
That side of the market has moved on since they started up and travellers now refuse to accept these sort of conditions.
I'm surprised anyone still uses them.0 -
If they are still going to charge this fee, it should be possible to insist that it be waived, as was successfully done when another bad value prepaid card folded earlier this year.The final kick in the teeth for cardholders is the redemption fee they charge for getting back what little money they have left.
Otherwise, it may be possible to empty it by loading the exact remaining amount to a Revolut account, if their new payment processing system does not reject it. Yesterday I emptied my FairFX Euro card in this way, while it was still registered with Revolut's old system. Anyway, it would cost nothing to try this, and at least you would then have a good card for travel next time.Evolution, not revolution0 -
So the their business model is done in such a way to rip people off, then no wonder people are voting with their wallets."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
"If you'll be overseas between now and then you can use it as you normally would. If not, you can:
Use it to spend in the UK - usually with the euros or dollars card there would be a charge for this, but this charge will now be waived.
Withdraw your money via a UK cash machine - again, this would normally incur a charge but this is now being waived.
Transfer your money to another bank account - you can do this by logging in to your account online and filling in a request form."0 -
I've just used-
https://revolut.com/
Revolut is the only account you need to securely send and spend
money anywhere in the world!
in Turkey and it was a pleasure, no fees at the atm (upto £500 pcm) and easy to use in the supermarkets. Uses the Mastercard exchange rate so hard to beat on value.0 -
Actually Revolut converts at the interbank rate at the moment of transaction on weekdays, with a slight spread on weekends.worried_jim wrote: »Uses the Mastercard exchange rate so hard to beat on value.Evolution, not revolution0 -
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