FairFX opinions

Ximian

I received an email from a travel agent about a pre paid currency travel card from FairFX and was wondering if anyone has used them before and if they are worth purchasing? I usually either purchase currency before travelling and/or use my Maestro card at ATM's to draw currency ... and pay the ridiculous bank charges

Free pre-paid currency cards

Up to 15% refund on car hire
Using bank cards abroad can mean high fees and poor exchange rates, so for next time get a FairFX currency card. Once you pre-load it with euros or dollars, you can use it like a debit card at shops or cashpoints - and you keep the exchange rate you got when you loaded it.

http://www.fairfx.com/travelcards

http://www.fairfx.com/whatitcosts
Transaction Fees

• FREE for purchase transactions made in the UK and overseas

Cash Withdrawal Fees

• £1/€1.5/$2 per ATM withdrawals in the UK and overseas

Card Issue Fee

• £9.95 includes purchase and activation on orders under £500.
• No fee on orders with £500 or greater initial load.

From the info above, it doesn't look like the FairFX card is that much cheaper than using a Maestro card internationally.

fifeken

Read Martin's article for more information:

http://www.moneysavingexpert.com/travel/cheap-travel-money#prepaid

Ximian

Thanks fifeken

Indout96

From the info above, it doesn't look like the FairFX card is that much cheaper than using a Maestro card internationally

To use - no it isnt but it depends where you are shopping. A lot of US stores will not let you buy on UK charge cards.
The big advantage FairFX has is the exchange rate. Today they are offering $1.50 per £1, you will not see that on the highstreet.
Quite a few on the LV thread have used them with no problem, I am loading mine up bit by bit as the rate alters (about $3,500 so far) There are some ristrictions that are not on the Fair FX site such as only 3 ATM withdrawals per day but these were put in as a safety meassure in case you have it stolen, they can not just sit there withdrawing until it is empty. this does not affect spending in shops AFAIK

Triker

Myself and OH have one each for USA trips and of course you can convert Euros onto them as well.


Plus's

We found them

convenient

great for not overspending as only loaded with real money not credit money

easy to load via latop whilst on holiday

great for tracking hotel bookings and keeping an eye on deductions from account

an easy way to have holiday savings as each month plonk a litle more on.

Knowing exactly how much money you take out from a cash machine, less the usual dollar charge, meant no nasty surprises when arriving home and getting a statement.

Easy to use website.


Negatives

There was only one place in Orlando, a cafe, but we had cash anyway.

Flylady_Flower

These sound a great way to save for a holiday, and like you say, you know exactly the charges you are paying there and then, no surprises when you get home, but just wondered - if you load with dollars, can you then convert to euros and vice versa, or do you have to refund back to your bank and re-purchase? The reason I ask is that we would love to go to US, and it would be great to save this way for that, but if we decided against in and opted for a trip to Europe instead, could we do that?