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Cheap Travel Money Discussion Area

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  • zagfles
    zagfles Posts: 21,535 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
    Hmm.

    I thought I'd apply for the Clarity card because I spend a lot of time in Europe. Did the test application via MSE and was told I'd be given the card. I've never missed any payments, and manage my money well. So I was a little surprised when I got offered the card at 17.9% rather than 12.9% interest rate.

    I can only think of two reasons why this may be the case. Firstly, I didn't give them my landline (we get far too many nob-heads calling that and I don't want to add to the list so landline details -- I'm afraid not). The second reason may be that I pay so little in fees. I already have a credit card and the only fees I pay are these European loading fees and cash advance fees. (I pay the card off in full every month, and have done for years.) Applying for this card was to try to reduce these.
    I pay even less in fees, it won't be that.
    So be warned -- you may have a super credit rating (ie be a very low risk to the finance providers) but these crooks want to take as much from you as possible.

    But hey, just as they are free to try to screw me I'm free to tell them to sod off -- 17.9% works out at £1.50 per £100.
    Only if you wait a month before paying it off. Why would you do that?
    One thing I did notice. From their Privacy Notice (my emphasis):

    So I have no way to protect myself once I have agreed to their terms and conditions. My data my be managed by a dude in Bangalore who may choose to sell it on. I have no comeback or protection from this. Are they taking the p1ss?

    Sorry, Halifax, but I've declined your card.
    Did you actually read that properly? It's saying if you make foreign payments than the foreign organisation will need your details and may have to let the foreign authorities know. Fairly obvious really. Other banks probably have exactly the same clause. The idea that you have no comeback or protection from misuse is utter bull, of course you do, if your card details are used without your permission you are not liable unless you were negligent (and even then only for £50)
  • "We may run your accounts and provide other services from centres outside the EEA (such as the USA and India) that do not have a similar standard of data protection laws to the UK."

    I'm thinking Indian DBAs...
  • zagfles
    zagfles Posts: 21,535 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
    "We may run your accounts and provide other services from centres outside the EEA (such as the USA and India) that do not have a similar standard of data protection laws to the UK."

    I'm thinking Indian DBAs...
    Followed by "If so, we will require your personal information to be protected to at least UK standards."

    The bit you highlighted was about making foreign payments, not about using foreign call centres.
  • Just signed up for a FairFX prepaid Euro card. The link on the MSE web page is supposed to entitle me to a £10 bonus if I put more than £500 on the card. I have done this, but not received the bonus. FairFX say it is because I didn't use the correct link when applying, but this is not correct. I used the link on the MSE web page which clearly states that if you apply on this page, using the link provided, then a bonus will be given. It was the bonus that attracted me to this card, but unfortunately the link provided hasn't worked.
  • neet
    neet Posts: 22 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Looks to be exactly the same people running it as before...

    Have you any links to show otherwise?
    Checked email and can't find what i though was an email saying they had shifted their card provider from someone I knew like Northern Rock to someone never heard of. Agree that the principals of the business look unchanged from the wesite.
  • NiftyDigits
    NiftyDigits Posts: 10,459 Forumite
    neet wrote: »
    Checked email and can't find what i though was an email saying they had shifted their card provider from someone I knew like Northern Rock to someone never heard of. Agree that the principals of the business look unchanged from the wesite.

    Yes the card issuer changed from Newcastle Building Society to Wirecard Card Solutions Ltd.

    It's not unusual in that business. Caxton changed card issuers too. From Newcastle Building Society to R. Raphael & Sons plc
  • matrix2021
    matrix2021 Posts: 14 Forumite
    I have what might seem like a really dumb question, but I haven't used a pre-paid card before so bear with me.

    If you load a card with say £1000 ($1480) and intend to use it for mainly cash withdrawals in the US, I would assume the CaxtonFX or Travelex Cash Passport card would be the best option (as FairFX charges $2 per withdrawal). So you dont get charged for loading the card with your money, nor do you get charged for ATM withdrawals, but if I considerably underspend on my trip, am I able to easily transfer the money back out of the pre-paid card/account back to my normal bank account without any charges? Example, if I withdraw a total of $1000 and left with $480/£324, am I then able to transfer that balance back without any charges?

    Thanks in advance
  • NiftyDigits
    NiftyDigits Posts: 10,459 Forumite
    matrix2021 wrote: »
    I have what might seem like a really dumb question, but I haven't used a pre-paid card before so bear with me.

    If you load a card with say £1000 ($1480) and intend to use it for mainly cash withdrawals in the US, I would assume the CaxtonFX or Travelex Cash Passport card would be the best option (as FairFX charges $2 per withdrawal). So you dont get charged for loading the card with your money, nor do you get charged for ATM withdrawals, but if I considerably underspend on my trip, am I able to easily transfer the money back out of the pre-paid card/account back to my normal bank account without any charges? Example, if I withdraw a total of $1000 and left with $480/£324, am I then able to transfer that balance back without any charges?

    Thanks in advance

    You have already posted this question elsewhere.
  • matrix2021
    matrix2021 Posts: 14 Forumite
    Correct. And if you read the bracketed information on that post, I apologised for the duplication.
  • Aaron
    Aaron Posts: 75 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    matrix2021 wrote: »
    if I considerably underspend on my trip, am I able to easily transfer the money back out of the pre-paid card/account back to my normal bank account without any charges?

    No. When I last used a Caxton card, there was a small fee to refund it back to Sterling. It was in the small print.
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