Can you pre-load a credit card

Mr.Mulla

ViolaLass wrote: »

Can you pay it with more than one card? Also, I've found the US often accept debit cards when they say they want credit cards.

Yeah that's a good suggestion, using more than one card if possible.

Can you use a debit card instead?

chattychappy

TrickyDicky wrote: »

Instead of doing a bank transfer (which has all the transfer fees and exchange rate issues that come with inter-continental banking)

A T/T should be fine - there shouldn't be an "exchange rate issue" - or at least not nearly as much as one as with a credit card which is typically 2.75% or so as already noted. There will be a fixed charge or % - my bank used to charge £15, 0.5%, 0.2% (depending on the amount). It should be possible for you to phone up and get the amount of £ that a fixed amount of USD will cost - assuming you're with a "big bank". Businesses use this method all the time. I think some banks will want a higher minimum for a personal customer - perhaps £25, I really don't know - I used to use a business account alot - the one time I did it via a barclays personal account it was £25 for a small amount (a few thousand).

Bear in mind also that with a T/T in USD, the supplier won't pay much (if anything) to receive the money, unlike with a credit card. So you may be able to get a discount - or alternatively could face extra charges if paying by credit card to cover their commission.

If you do wish to pay by credit card, could you split between several cards? I think pre-loading is risky. The reload attempt might get rejected and even if it doesn't, you might not be able to spend it out.

dzug1

jamespir wrote: »

they do pre pay cards could you use one of those

No - there are limits to the amount you can load onto a prepaid card, the amount you can hold on it, and to the amount you can spend in one day once it's there. $15000 is likely to breach all of these limits.

Voyager2002

The cost of using a credit card (in foreign currency loading and so forth) would be well over two hundred pounds, so the seller's 25 dollar fee is not important by comparison. Otherwise I would suggest using Egg Money.

You could certainly do it by Paypal, but the exchange rate they use is not great. The most cost-effective way to make this purchase is probably to open an account with XE and use them to exchange your sterling for dollars and deposit it in your vendor's bank account. That way, however, you don't get the Section 75 protection that a credit card normally gives you.

The obvious, of course, is to have a word with your CC company. And don't forget that the best exchange rates are offered by Post Office, closely followed by Nationwide.

Of course, you could always use a debit card with a Visa or Mastercard logo. Visa debit cards give you some consumer protection.

lisyloo

aldo wrote: »

I don't think it is a Pre-Paid card as the OP mentions the credit limit.

Hi aldo, I never thought it was pre-paid.
I thought it was a credit card that they are talking about pre-loading.
I don't know why you thought I was talking about a pre-paid card but never mind.

Egg money is the one that I'm aware of that you are allowed to pre-load, although you will have to pay the currency charge.
This currency charge also probably applies to your debit card unless you have one of the cheap foreign currentcy cards (like nationwide, santander zero or post oofice).

INT1

Oh right, The EGG card is a diff set up I think?

As far as I am aware a "Normal" credit card with a limit should not go in to credit as it is against the T+C's

lisyloo

Yes I think you are right.
Egg money is a different product.
It's designed so that you load it up when you get paid and sthen spend throughout the month, so you can be either in debit or credit.
They used to pay interest on credit balances but don't anymore, however I think you can still go into credit.

TrickyDicky

I spoke to first direct, and they only charge £25 for bank to bank transfer and the rate is comparable to visa rate, so this will definately be the cheapest option.

lisyloo

for bank to bank transfer

No section 75 protection though.
Do you need this?
Could you pay £1 by CC to get the protection?

emeraldbugle

I would use www.thomasexchange.co.uk (am sure they are in Martin's guide), their rates are the best. You would have to provide them with ID and make sure the cash is in their account by same day transfer. So a CHAPS fee of circa £25 + their transfer fee of £15. I bet you save more than the £40 just by using their rates.

As someone suggested, to get the Section 75 protection put £100 on the credit card.

Edited to say these are better today http://www.bestforeignexchange.com/services-foreign-money-transfer.php and their charge is £12.50.