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PRE-PAID Credit Cards
MRHARDUP
Posts: 3 Newbie
in Credit cards
Hi there, I have not used this forum before but I am sure that someone will already have asked this question?.-
Thinking of loading £1000 or so on a pre-paid credit card (thinking of Fairfx) to take advantage of fairly good Euro rate - to be used in the future................can anyone tell me where the money goes?? i.e. if the card is issued thro a major Building Society are the funds lodged with that Society or are they in the Company's (e.g.Fairfx) name.....if the latter what happens if the company fails or gets into financial difficulties?
Thinking of loading £1000 or so on a pre-paid credit card (thinking of Fairfx) to take advantage of fairly good Euro rate - to be used in the future................can anyone tell me where the money goes?? i.e. if the card is issued thro a major Building Society are the funds lodged with that Society or are they in the Company's (e.g.Fairfx) name.....if the latter what happens if the company fails or gets into financial difficulties?
0
Comments
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I know with the Caxton FX card it tells you the money is not protected by FSA rules and if Newcastle Building Society goes down you lose your money, so do not load on too much at once.0
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