Caton FX Global Card vs. FairFX Card

skydiveJames

Hello,

I'm trying to decide which to get for a 3 month trip to SE Asia.

FairFX's exhange rates aren't amazing, and they charge an ATM fee.

The Caton FX card do not charge the ATM fee. On their site they say this about the exhcange rate: "The exchange rate applied is fixed at 2.5% from the prevailing interbank rate."

What exactly does this mean? Is this 2.5% lower, than say the rate on XE.com?

Regards
James

Donnie

What are FairFX's exchange rates???

Clearly it depends on the amount of your likely withdrawals.

£100 withdrawn abroad with Caxton will cost you £2.50.

£100 withdrawn abroad with FairFX will cost you £1.50 if you get the Anywhere Card.

silkcutblue

Awesome. I am doing the same trip to Asia and just came in here to read up some more on the Caxton card. I know there are quite a few threads mentioning it so...at least this sorts THAT question out for me.

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

That link has details of the two cards.

thmb2000

Guys,

Has the CaxtonFX card just changed?

I now see absolutely no mention of the 2.5% charge on the website, nor in the list of charges. They are claiming 0% charges and commission:

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

EDIT: Ah, ignore me, found it.

Is it generally accepted then that the FairFX is the better option atm? Slightly better rates, and only 1.5% charge as opposed to 2.5%?

Donnie

thmb2000 wrote: »

Guys,

Has the CaxtonFX card just changed?

I now see absolutely no mention of the 2.5% charge on the website, nor in the list of charges. They are claiming 0% charges and commission:

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

EDIT: Ah, ignore me, found it.

Is it generally accepted then that the FairFX is the better option atm? Slightly better rates, and only 1.5% charge as opposed to 2.5%?

What better rates?

thmb2000

Today's Rates € $Caxton FX 1.1550 1.4260


Comparison FairFX £1 = € EUR1.1575 £1 = $ USD1.4350

Donnie

thmb2000 wrote: »

Today's Rates € $Caxton FX 1.1550 1.4260


Comparison FairFX £1 = € EUR1.1575 £1 = $ USD1.4350

But what have the rates to do with it, if going to Asia or anywhere else for that matter?? If using the Anywhere card; no rates, but a withdrawal charge.
Rates are irrelevant.

The FairFX Anywhere Card is the latest addition to the FairFX family. Just as the name suggests, use it anywhere - in any country, in any currency and with any vendor displaying the MasterCard® acceptance mark!

It's essentially a FairFX Prepaid MasterCard® in Pounds Sterling, with funds being converted to the appropriate currency at the point of sale. Unlike some of our competitors, we don't mark up the underlying MasterCard® rate!

A 1.5% charge is made on all usage, ATM or point of sale, using the FairFX Anywhere Card, in the UK, on the internet, or abroad - Anywhere! There is no additional ATM fee.

thmb2000

Donnie wrote: »

But what have the rates to do with it, if going to Asia or anywhere else for that matter?? If using the Anywhere card; no rates, but a withdrawal charge.
Rates are irrelevant.

The FairFX Anywhere Card is the latest addition to the FairFX family. Just as the name suggests, use it anywhere - in any country, in any currency and with any vendor displaying the MasterCard® acceptance mark!

It's essentially a FairFX Prepaid MasterCard® in Pounds Sterling, with funds being converted to the appropriate currency at the point of sale. Unlike some of our competitors, we don't mark up the underlying MasterCard® rate!

A 1.5% charge is made on all usage, ATM or point of sale, using the FairFX Anywhere Card, in the UK, on the internet, or abroad - Anywhere! There is no additional ATM fee.

What do you mean "no rates"? They obviously will be converting Sterling into whatever currency you require - so rates obviously come into it. Admittedly, the Euro/Dollar rates aren't massively relevent if you are going elsewhere, but you could take it as a general indication that their rates are better across the board.

Yes they charge 1.5% on all transactions. But Caxton charge 2.5%, so as far as I can see, it is Fairfx all the way.

Donnie

thmb2000 wrote: »

What do you mean "no rates"? They obviously will be converting Sterling into whatever currency you require - so rates obviously come into it. Admittedly, the Euro/Dollar rates aren't massively relevent if you are going elsewhere, but you could take it as a general indication that their rates are better across the board.

Yes they charge 1.5% on all transactions. But Caxton charge 2.5%, so as far as I can see, it is Fairfx all the way.

They? You are confused.. That conversion is carried out by Mastercard.
The Euro/Dollar card rates are set by FairFX.

silkcutblue

thmb2000 wrote: »

Guys,

Has the CaxtonFX card just changed?

I now see absolutely no mention of the 2.5% charge on the website, nor in the list of charges. They are claiming 0% charges and commission:

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

EDIT: Ah, ignore me, found it.

Is it generally accepted then that the FairFX is the better option atm? Slightly better rates, and only 1.5% charge as opposed to 2.5%?

Hiya,

I have read in a few threads that a few people in here prefer the caxton card. However, the guide on this site says FairFX is better (now, I'm not sure how often that thing is updated). Personally, I'd not be too worried about the odd 0.01% rate difference between fairfx and caxton (I'm using that as an example before someone plows in and wants to turn this thread into an argument). I'd want to watch the differences between the percentages.
Saying all that both of them are a lot better than any of my bank cards (which are all the: "zomg, don't use these. They are awful!" variety ) so either is a winner. :T

It's also nice that the link to the fairfx card knocks off the £9.95 initial card fee.

Donnie

silkcutblue wrote: »

Hiya,

I have read in a few threads that a few people in here prefer the caxton card. However, the guide on this site says FairFX is better (now, I'm not sure how often that thing is updated). Personally, I'd not be too worried about the odd 0.01% rate difference between fairfx and caxton (I'm using that as an example before someone plows in and wants to turn this thread into an argument). I'd want to watch the differences between the percentages.
Saying all that both of them are a lot better than any of my bank cards (which are all the: "zomg, don't use these. They are awful!" variety ) so either is a winner. :T

It's also nice that the link to the fairfx card knocks off the £9.95 initial card fee.

Not sure of the point of your post. 1% is not 0.01%. So silly to post 0.01% and just further confuse the issue.

I'd want to watch the differences between the percentages.

???

The figures have already been posted clearly on this thread.

No need for a 'click through' for the FairFX website. Currently, there is no fee for the card anyway.