Pre paid credit card

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missile
missile Posts: 11,690 Forumite
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Hi,


I have applied for a Caxton FX prepaid credit card for use in Thailand.


Has anyone used this card in Thailand and can you confirm how easy to use / any issues?


Many Thanks, :-)
"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:
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  • reclusive46
    reclusive46 Posts: 2,698 Forumite
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    The only issue I've ever had in Thailand is that some more rural shops that take card aren't used to seeing Chip and PIN cards and get a bit confused (Sometimes you'll have to walk around the counter to enter a PIN). Don't let them try and enter in random numbers and get your card blocked! Most Asian cards are either Chip and Signature or Swipe and Sign.
  • NiftyDigits
    NiftyDigits Posts: 10,459 Forumite
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    missile wrote: »
    Hi,


    I have applied for a Caxton FX prepaid credit card for use in Thailand.


    Has anyone used this card in Thailand and can you confirm how easy to use / any issues?


    Many Thanks, :-)

    Why didn't you ask before you applied?

    It is certainly not the best value, unless you are withdrawing relatively small amounts from an ATM each time. Also there are extra fees if you try to withdraw from over the counter(not recommended for prepaid cards) to avoid the 150 baht to 180 baht Thailand ATM fee.

    For purchases 2.75% will be deducted from your every transaction.

    Kalixa Pay would be better value. No deduction on purchases and a fixed fee for cash withdrawals(so better for larger cash withdrawals).

    Example: Withdrawing 15000 baht with Caxton Global will cost £8.25 in fees for Caxton and £3 to £3.60 in Thai ATM fees. £11.25 to £11.85 in total.

    Withdrawing the same with Kalixa Pay would cost £2.25 plus £3 to £3.60, £5.25 to to £5.85 in total.

    Paying your hotel bill of £500 using Caxton Global will cost you £13.75 in fees. Pay with Kalixa Pay; no fees at all.

    Also you can spend with Kalixa Pay at home £ for £ with any left over cash. Caxton will charge you £1.50 for every UK transaction.

    Next time, look before you leap.

    Let's hope that you didn't commit all of your spending budget to the Caxton card.
  • missile
    missile Posts: 11,690 Forumite
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    NiftyDigits wrote: »
    Why didn't you ask before you applied?

    ...... Next time, look before you leap..


    <LOL> I did ask and was advised on another forum by people who use Caxton card. My Caxton card was funded with £10 minimum to load the card. My "mistake" will cost me nothing if I use the balance for a purchase in the UK.


    +++++++++++++++++++++++++


    Thanks for the info. Those charges are quite steep.
    Using a Nationwide FlexAccount card I would be charged 2.0% and FlexPlus 0% + Thai atm transaction charge. To withdraw 15000Baht from an atm would be circa £9.60 and £3.00 respectively.
    I understand if one goes into the bank you can avoid the 150Baht atm transaction charge?
    It seems the cheapest way is to take sterling. Obviously a risk.
    I have been told one gets over the bank rate when exchanging in Thailand. Not sure this is correct?
    ++++++++
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • dzug1
    dzug1 Posts: 13,535 Forumite
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    missile wrote: »

    It seems the cheapest way is to take sterling.


    Not necessarily - it depends on what percentage is factored into the exchange rate you get when you change it


    What that is in Thailand - pass. I very much doubt it's zero though
  • NiftyDigits
    NiftyDigits Posts: 10,459 Forumite
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    missile wrote: »
    <LOL> I did ask and was advised on another forum by people who use Caxton card. My Caxton card was funded with £10 minimum to load the card. My "mistake" will cost me nothing if I use the balance for a purchase in the UK.


    +++++++++++++++++++++++++


    Thanks for the info. Those charges are quite steep.
    Using a Nationwide FlexAccount card I would be charged 2.0% and FlexPlus 0% + Thai atm transaction charge. To withdraw 15000Baht from an atm would be circa £9.60 and £3.00 respectively.
    I understand if one goes into the bank you can avoid the 150Baht atm transaction charge?
    It seems the cheapest way is to take sterling. Obviously a risk.
    I have been told one gets over the bank rate when exchanging in Thailand. Not sure this is correct?
    ++++++++

    If you have a FlexPlus account, then why did you get a Caxton card??
    If you have a FlexPlus account, why are you also posting the charges for a normal FlexAccount?

    You should not use a Prepaid card 'over the counter'.
    You can use a normal debit or credit card, but you might not get the Visa/Mastercard rate, though I'm not sure about this.

    Bizarrely, taking cash is often the best value, as certain exchangers offer close or over the Visa/Mastercard rate. But not the mainstream banks.

    For instance, SuperRich is offering 53.05 for £50 notes.
    Mastercard rate for yesterday 52.76
  • missile
    missile Posts: 11,690 Forumite
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    I have a FlexAccount, don't have a FlexPlus but obviously I could apply for one. Unfortunately it is a fee paying account £10 per month. It has some useful add ons - which I don't really need.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • missile
    missile Posts: 11,690 Forumite
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    dzug1 wrote: »
    Not necessarily - it depends on what percentage is factored into the exchange rate you get when you change it


    What that is in Thailand - pass. I very much doubt it's zero though


    The difference in rate between buying and selling is called spread and through a mainstream currency exchange you are likely to lose.


    In some countries, e.g. where there is a shortage of foreign currency, smaller exchange houses will pay a premium for hard currency.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • NiftyDigits
    NiftyDigits Posts: 10,459 Forumite
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    missile wrote: »
    I have a FlexAccount, don't have a FlexPlus but obviously I could apply for one. Unfortunately it is a fee paying account £10 per month. It has some useful add ons - which I don't really need.

    So if you aren't going to apply for another mainstream card, such as the Halifax Clarity, then perhaps you can take a mixture of £50 notes and a Kalixa Pay card. Use the Kalixa Pay for purchases where possible.
    I usually use an apartment or villa, so I make a lot of purchases with cards and few ATM withdrawals.
  • missile
    missile Posts: 11,690 Forumite
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    Thanks for all your comments.
    I already have Halifax Clarity Credit Card.
    Sounds like a plan.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • NiftyDigits
    NiftyDigits Posts: 10,459 Forumite
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    missile wrote: »
    Thanks for all your comments.
    I already have Halifax Clarity Credit Card.
    Sounds like a plan.

    You can use your Clarity to withdraw cash over the bank counter in Thailand. Just take your passport with you.
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