Prepaid mastercard Fair FX, fees/charges query ??

bignred05

can anyone please shed any light on this

I have had a Fair Fx prepaid Mastercard for almost a year now

I have used it 3 times to book flights for Ryanair
the first time, nothing appeared on my on line statement

however on the last 2 occasions, I have had £4.95 & £0.93, taken out under the heading
Comm: Sale / sale with tip

anyone explain this, why nothing appeared on the first booking (made in Feb2010) yet the other bookings made in Nov/Dec 2010 have had fees/charges taken

I thought the card was fee free

TIA

Bob_the_Saver

That's the 1.5% that FairFx charge you for their service as shown in their T&C it's Free from the angle that
Ryanair don't add their 'paying with plastic fee'

moneyman22

bignred05 wrote: »

can anyone please shed any light on this

I have had a Fair Fx prepaid Mastercard for almost a year now

I have used it 3 times to book flights for Ryanair
the first time, nothing appeared on my on line statement

however on the last 2 occasions, I have had £4.95 & £0.93, taken out under the heading
Comm: Sale / sale with tip

anyone explain this, why nothing appeared on the first booking (made in Feb2010) yet the other bookings made in Nov/Dec 2010 have had fees/charges taken

I thought the card was fee free

TIA

Does this card not cost you a monthly fee or a fee to set up in the 1st place?

dzug1

bignred05 wrote: »

can anyone please shed any light on this

I have had a Fair Fx prepaid Mastercard for almost a year now

I have used it 3 times to book flights for Ryanair
the first time, nothing appeared on my on line statement

however on the last 2 occasions, I have had £4.95 & £0.93, taken out under the heading
Comm: Sale / sale with tip

anyone explain this, why nothing appeared on the first booking (made in Feb2010) yet the other bookings made in Nov/Dec 2010 have had fees/charges taken

I thought the card was fee free

TIA

Possibly the way the transaction is shown has changed - the amount is now broken down whereas prviously it was inclusive

Only a guess though

Baldur

moneyman22 wrote: »

Does this card not cost you a monthly fee or a fee to set up in the 1st place?

No monthly charge, no initial fee if you use the following This is Money link - normally £9.95 for initial loads of less than £500.

I simply loaded my 'Anywhere' Sterling card with £20 via the link and received it within a few days.

metalstardust

Hi

Free to load card if you use a debit card.
I load with Visa Debit and the money is on my card in 15 minutes.

All flights I have booked with Ryanair show as two transactions on FairFX. One is the payment to Ryanair and the other is a FairFX fee of 1.5% of the purchase. (1.4% from 01/03/2011)

The 1.5/1.4% is a domestic transaction fee for a point of sale transaction.

So for a £100 spend you pay only £1.50/£1.40.
I have saved a fair bit as I fly Ryanair 4 times a year.

FairFX are fantastic. I especially like the Euro cards.

2010

Changes to Terms and Conditions of FairFX Cards - Effective 1st March 2011

Dear Mrs Smith

As you know, at FairFX we are constantly striving to give you the best possible deal and to be transparent with pricing. Given we have now been issuing cards for over 3 years we have a much better understanding of the typical usage of our cards and the costs that these transactions drive. The costs associated with issuing a prepaid card designed for usage globally are extremely complex and constantly change. We are now making some simple amendments to our Terms and Conditions to more accurately reflect the real costs of the various transactions that can be performed with a FairFX card. The effects of the changes are explained below along with a revised fee table.

For Euro cards used in Eurozone and US Dollar cards used in the USA there are no changes to the costs of transactions. Use of the cards outside their home zones will attract a 1.4% "out of currency" usage charge.
For the £ Anywhere card we have reduced the effective cost of transactions at a "point of sale" (POS) both in the UK and overseas from 1.5% to 1.4%, thereby making it even cheaper for Ryanair bookings, spending online and using in shops and restaurants. However, we have also introduced an ATM charge to this card such that an ATM transaction outside the UK on a £ Anywhere card will now cost 1.4% plus £1. A withdrawal in the UK will incur a £1.50 flat fee.
We are introducing a minimum top-up amount of £50, 60 Euros and $80 for the £, Euro and $ cards respectively
Refunds will continue to cost £10 for the Euro and Dollar cards but will now cost 1.40% subject to a minimum of £10 for the £ Anywhere card.
New Terms and Conditions table - effective from 1st March 2011
Prepaid Card Purchase
£9.95

Family and Friends Card Purchase
£6.00

Monthly Management Fee
NIL

Usage restrictions
For full details please refer to the Terms and Conditions

Domestic (UK) Point Of Sale Transaction
Zero fees for the Euro and US Dollar cards. A 1.4% transaction fee for the £ Anywhere Card

International Point Of Sale Transaction
Zero fees for the Euro, US Dollar and £ Anywhere Cards

Domestic (UK) ATM Transaction
€1.50 for the Euro card, $2.00 for the US Dollar card and £1.50 for the £ Anywhere Card

International ATM Transaction
€1.50 for the Euro card and $2.00 for the US Dollar card and £1 for the £ Anywhere Card

Lost and Stolen block
NIL

Customer service telephone enquiries
£0.80 per minute

Lost/Stolen Replacement Fee
£6, €9 or $12

PIN Issue/Re-issue
NIL

Card Load/Reload
FREE card load online by Debit or Bank Transfer. 2.5% charge for Credit Cards

Administration Fee
£10.00 per disputed transaction (this may be refunded in certain circumstances)

Refunds
£10 for Euro and US Dollar cards. 1.40% for £ Anywhere Card subject to minimum charge of £10

FX Fee (when card used out of card currency)
1.40% for Euro, US Dollar and £ Anywhere Cards


We hope these changes are clear and we thank you, as always, for your continued custom.

Regards,

Stephen Heath
CEO FairFX Plc

metalstardust

Hi

2010 wrote: »

Changes to Terms and Conditions of FairFX Cards - Effective 1st March 2011

For the £ Anywhere card we have reduced the effective cost of transactions at a "point of sale" (POS) both in the UK and overseas from 1.5% to 1.4%, thereby making it even cheaper for Ryanair bookings, spending online and using in shops and restaurants.

International Point Of Sale Transaction
Zero fees for the Euro, US Dollar and £ Anywhere Cards

Contradiction there I believe.

Your old T & C 's read

Zero fees for the euro and US Dollar cards. A 1.5% transaction fee for the Anywhere Card

The e-mail you are sending out should read

Zero fees for the euro and US Dollar cards. A 1.4% transaction fee for the Anywhere Card

stilltheone

metalstardust wrote: »

Hi



Contradiction there I believe.

Your old T & C 's read

Zero fees for the euro and US Dollar cards. A 1.5% transaction fee for the Anywhere Card

The e-mail you are sending out should read

Zero fees for the euro and US Dollar cards. A 1.4% transaction fee for the Anywhere Card

It seems wrong at first glance, but in fact it's covered by this at the end: FX Fee (when card used out of card currency)
1.40% for Euro, US Dollar and £ Anywhere Cards

metalstardust

stilltheone wrote: »

It seems wrong at first glance, but in fact it's covered by this at the end: FX Fee (when card used out of card currency)
1.40% for Euro, US Dollar and £ Anywhere Cards

Sorry disagree.

Anywhere Card

If there is a 1.4% fee for anywhere outside zone that would be International.

So how can they say

International Point Of Sale Transaction
Zero fees for the Euro, US Dollar and £ Anywhere Cards

It's not zero it's 1.4%.

Like I said old T & C's

Zero fees for the euro and US Dollar cards. A 1.5% transaction fee for the Anywhere Card

It's not now free it's 1.4%

stilltheone

metalstardust wrote: »

Sorry disagree.

Anywhere Card

If there is a 1.4% fee for anywhere outside zone that would be International.

So how can they say

International Point Of Sale Transaction
Zero fees for the Euro, US Dollar and £ Anywhere Cards

It's not zero it's 1.4%.

Like I said old T & C's

Zero fees for the euro and US Dollar cards. A 1.5% transaction fee for the Anywhere Card

It's not now free it's 1.4%

You can disagree if you like, but......