Prepaid Cards Guide Discussion Area

rob69uk

Since the nationwide/visa are now charging to withdraw from ATMs outside the UK i was thinking of getting a Caxton fx prepaid card.
They seam to have very good rates and don't charge to use ATMs abroad,no loading fee or monthly fee.
Has anybody used the global card i would be grateful for a report or feedback.

Baldur

rob69uk wrote: »

Since the nationwide/visa are now charging to withdraw from ATMs outside the UK

Only up to 1% for cash withdrawals outside Europe, there's no VISA fee within Europe.

They seam to have very good rates and don't charge to use ATMs abroad

They don't? See http://www.money.co.uk/article/1003274-caxton-fx-offer-the-cheapest-prepaid-card-for-overseas-spending.htm

What's the catch?A minimum top-up does apply on each card - £100 for the Global Traveller card, $200 for the Dollarcard and €150 for the Eurocard and ATM withdrawals will be subject to a fee (£1.50, $3 and €2 respectively) so this is something to factor in when considering its suitability.

rob69uk

Baldur wrote: »

Only up to 1% for cash withdrawals outside Europe, there's no VISA fee within Europe.

Thanks for your reply, but from caxton fx website, they say there is no charge for using ATM machines outside the UK.
This may have just been implemented.
sorry i can`t post a link as a new user.

Baldur

rob69uk wrote: »

Thanks for your reply, but from caxton fx website, they say there is no charge for using ATM machines outside the UK.
This may have just been implemented.
sorry i can`t post a link as a new user.

Their own product factsheet indicates that there are ATM fees, as per the above link - see the bottom of the page http://www.caxtonfxcard.com/images%5CCaxton_FX_Media_Fact_Sheet.pdf

*ATM withdrawals are subject to a €2 or $3 fee.

<Edit> Looking at their rates, they are also poorer than Nationwide's VISA rates today - Caxton €1.1040 - NW/VISA €1.12; Caxton $1.4640 - NW/VISA $1.49.

Their own site indicates that the £1.50 charge is only applicable on UK withdrawals on the Global Card.

rob69uk

Ok thank you
Just a few points i was looking to get the global fx card for trips to Thailand not the Euro or Dollar card.
As i can not post a link please bear with me.
This is copyed from caxton website


Global Card Dollar Card Euro Card Card purchase fee No charge No charge No charge Monthly/annual charge No charge No charge No charge Purchase transaction fee No charge, outside the UK. £1.50 in UK No charge No charge ATM cash withdrawal fee No charge outside the UK. £1.50 in UK $3 €2 Card loading No charge No charge No charge Balance enquiry online No charge No charge No charge SMS Balance enquiry No charge No charge No charge Secondary Card £5.00 £5.00 or $10.00 £5.00 or $7.50 PIN reminder No charge No charge No charge SMS lock / unlock No charge No charge No charge Lost & Stolen helpline Low-call number Low-call number Low-call number Card Replacement Fee (damaged/lost/stolen) £5.00 $10.00 €7.50 Debit card refund £1.50 flat fee $3.00 flat fee and exchange at the
prevailing buy rate €2.00 flat fee and exchange at the
prevailing buy





Also on winkworth.co.uk (click currency exchange service) they show the Caxton fx rates for Thailand today they are offering 52.69 which is a very good rate.

andyboal

Im considering gettin a FairFX euro card for my holiday, but if i do not spend all the money on it, is it cost effective to get it back into sterling. Also, if i do not want to use the card in future after my holiday, can i cancel it, and will this incur a fee?

rob69uk

andyboal wrote: »

Im considering gettin a FairFX euro card for my holiday, but if i do not spend all the money on it, is it cost effective to get it back into sterling. Also, if i do not want to use the card in future after my holiday, can i cancel it, and will this incur a fee?

www.
caxtonfxcard.com/feesncharges.asp?dist=CAXTGENL

2 euros the site says

rob69uk

andyboal wrote: »

Im considering gettin a FairFX euro card for my holiday, but if i do not spend all the money on it, is it cost effective to get it back into sterling. Also, if i do not want to use the card in future after my holiday, can i cancel it, and will this incur a fee?

Sorry i thought you ment the caxton card ,which has no atm charges the fairfx card does.
If you are withdrawing currency at an ATM the standard FairFX fees apply (€1.50, $2.00), some ATM providers charge for using their cash points however they normally inform you of this before you make a withdrawal.

beatsneedrhymes

The MSE guide to prepaid cards states that:

"There’s one large restriction here, the only foreign currencies prepaid cards operate in are Euros and US Dollars, so if you’re going somewhere more exotic, they’re not for you."

But I spoke to someone at FairFx, who said that regardless of whether you take the Euro or Dollar card, the conversion rate to other currencies will be the equivalent of a 1% charge: a 0.3% difference to 'Interbank levels' and 0.7% charge.

He also said to get the US dollar FairFX card as opposed to the Euro equivalent - they both incur the same charges, but the pound is stronger against the dollar than the Euro so you're getting more for your money in the first place.

Am I missing something, or does the MSE article fall short in explaining whether prepaid cards are suitable for use outside Europe and the US?

NickProv

I am looking to get a prepaid credit card to improve my credit rating and a car I can book my car rental with when I go on holiday..
Any advice on which card will benefit me the most??