Fairfx vs. Caxtonfx

ferf1223

simontheiceman wrote: »

After a lot of digging, I did find a reference to the E1.50/$2 charge at the ATM on the FairFX website, but I couldn't navigate back there.
My business partner used this card and found there was only the E1.50 charge at the ATM and otherwise was charge free as a Euro card.

It's in the card FAQ: Yes, it will work in most ATM's worldwide and with any retailer with an electronic terminals that accept MasterCard®.
Can I use the FairFX Currency Card in countries where Euros and Dollars are not the local currency? If so what exchange rate would I get? What percentage would I pay in commission and what other fees would apply for each purchase or ATM withdrawal? The Euro and Dollar FairFX Currency cards can be used anywhere in the world or to spend in any currency wherever there is a MasterCard® acceptance mark, including shops, restaurants, online or on the telephone. If you were to use the cards in a country where Euros or Dollars are not the local currency, the exchange rate would be the wholesale MasterCard® market rate. FairFX do not take any further commissions or fees when you do this. Accordingly, the FairFX Currency cards represent fantastic value for use in any currency. 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.

Donnie

ferf1223 wrote: »

It's in the card FAQ: Yes, .

Nearly a month later.

Donnie

Johnnyy_Boy wrote: »

So if I had say £1500 to spend on holiday would I be better off to get a Clarity and use it to withdraw from ATM's and then pay off the bill in full at the end ?

Just a little bit of thinking will show you the way to proceed.

If you have Internet access...

ferf1223

Donnie wrote: »

Nearly a month later.

ever so sorry, I don't necessarily look at the dates of every post...assumed this was a new thread as it came up again today...but thanks for pointing it out and all.

Donnie

Actually it just adds to the general confusion, as some just don't seem to get the difference between the Anywhere and the currency cards.

adindas

What is the Exchange rate that will apply at the time we are loading our FairFx AND CaxtonFx EUR/DOL card.

I believe they will be using their own exchange rate which must be worse than Inberbank or Master/Visa Wholesale Exhange rate, otherwise they will make very little profit, in my opinion.

Using Master/Visa Wholesale Exhange rate as a bech mark, how much worse is the diffrence for:
FairF, CaxtonFx

Which offer better Exchange rate FairFx or CaxtonFX ?

Thank you fro your time answering my question

ADINDAS

Johnnyy_Boy

Donnie wrote: »

Just a little bit of thinking will show you the way to proceed.

If you have Internet access...

But if I am a bit lazy could you think for me.

jnm21

nickyhutch wrote: »

Donnie - you may very well be right in all you say, but I have to point out that you're incredibly patronising and rude. There's really no need.

Very well said, though the best way to deal with a troll is to not respond. I tried to convince him that loads of useful info punctuated with obnoxious insults just devalues the info, to no avail!

donnie wrote:

Another misleading and oversimplified post. FairFx don't 'load the rate'.

For those interested in facts, Donnie is correct, but misleading - on a €1 spend, the effect of FairFX fee of 1.5% after exchange & of loading the rate by 1.5% before conversion is 0, i.e. 1/(1.20 * 0.985) = 84.60p vs (1/1.2) * 1.015 = 84.58p.

So my unforgivable simplification of FairFX loading by 1.5% is (only) accurate to about 1p in each €50. Until someone else offers a load of less than 1.5%, my assertion is valid when comparing offerings for best value.

Donnie

jnm21 wrote: »

Very well said, though the best way to deal with a troll is to not respond. I tried to convince him that loads of useful info punctuated with obnoxious insults just devalues the info, to no avail!



For those interested in facts, Donnie is correct, but misleading - on a €1 spend, the effect of FairFX fee of 1.5% after exchange & of loading the rate by 1.5% before conversion is 0, i.e. 1/(1.20 * 0.985) = 84.60p vs (1/1.2) * 1.015 = 84.58p.

So my unforgivable simplification of FairFX loading by 1.5% is (only) accurate to about 1p in each €50. Until someone else offers a load of less than 1.5%, my assertion is valid when comparing offerings for best value.

Are you slightly !!!!!!? Why are you quoting a one month old post of an obvious troll who had nothing to contribute?

The fact is that you too were guilty of putting stupid insults in your posts, but didn't like to receive them in return.

So perhaps you should refrain from referring to me in any of your posts, then we will have no problems.

As to you writing about me being misleading....

Perhaps you can post my "misleading post" together with your explanation in this post and ask the readers which is the more misleading?

There was never an argument about the minutia of the fees involved.

I'm all for keeping it simple. In fact a more accurate explanation of the fees is thus:

If you take out £100,(why you are quoting Euros when the card is denominated in Pounds is known only to yourself) they will take an extra £1.50 out of your account.

In layman's terms for £100 worth of euros, you would pay £101.50.

Using Euro 1.20 to the pound as a reference, the actual exchange rate that you would receive would be 1.1822 euros to the pound. 120 divided by 101.50.

I simplified the equation by just telling the average user to lop off 1.5% off the rate that they see on the Mastercard website.

I really don't see the point of you quoting a one month old post, other than to satisfy some inferiority complex within you.

nickyhutch

Donnie wrote: »

Are you slightly !!!!!!? Why are you quoting a one month old post of an obvious troll who had nothing to contribute?

I'm not a troll. I came genuinely looking for info and found you and your obnoxious posts; all I'm guilty of is being incapable of ignoring such obnoxiousness. My contribution was just getting what I thought about your rudeness off my chest.