Caxton FX

lou49

Morning. Anybody having trouble getting in touch with Caxton FX? We have been trying to contact them since early yesterday. Their website isn't working and the phone numbers on the back of the card (Customer Service 0845 222 2639, or 'from outside UK' +44 207 201 0526) are engaged all the time or not working, and BT can't help as it isn't a BT line.

Can anyone shed any light?
TIA!

bizgen

I can't get online either - I was going to load it up, but a bit nervous now, in case they are in trouble.

M4RKM

website is working fine for me here...

http://www.downforeveryoneorjustme.com/www.caxtonfxcard.com

Also, as it is an easter weekend, they may be closed throughout the easter period.

M

Baldur

M4RKM wrote: »

Also, as it is an easter weekend, they may be closed throughout the easter period.

See website:

Easter opening hours 20/04/11 8:00 – 18:00 Normal trading hours. 21/04/11 8:00 – 18:00 Normal trading hours. 22/04/11 9:00 – 17:00 Enquires only. No telephone trading. 23/04/11 9:00 – 16:00 Enquires only. No telephone trading. 24/04/11 Closed. 25/04/11 9:00 – 17:00 Enquires only. No telephone trading. 26/04/11 8:00 – 18:00 Normal trading hours. 27/04/11 8:00 – 18:00 Normal trading hours. 28/04/11 8:00 – 18:00 Normal trading hours. 29/04/11 9:00 – 17:00 Enquires only. No telephone trading. 30/04/11 9:00 – 16:00 Enquires only. No telephone trading. 01/05/11 Closed. 02/05/11 9:00 – 17:00 Enquires only. No telephone trading. 03/05/11 8:00 – 18:00 Normal trading hours.

FearlessPhil

sorry to jump in on this thread but did others who use Caxton know they've slipped in a 2% surcharge on transactions not in the currency on the card? i.e. if you loaded the card in pounds stirling you get hit if the card is used in Euro's, Dollars etc.

If not, you're not alone. I only spotted this yesterday when checking my account.

Going to call them and ask why they've broken their own terms which state 2 months notice of changes, in writing.

One for Martin to check on I think.....

stilltheone

FearlessPhil wrote: »

sorry to jump in on this thread but did others who use Caxton know they've slipped in a 2% surcharge on transactions not in the currency on the card? i.e. if you loaded the card in pounds stirling you get hit if the card is used in Euro's, Dollars etc.

If not, you're not alone. I only spotted this yesterday when checking my account.

Going to call them and ask why they've broken their own terms which state 2 months notice of changes, in writing.

One for Martin to check on I think.....

Good thing that this is your first post, as you can easily discard your username and start again.

There are no new terms and conditions. That (2.5% surcharge) has always been part of the T&Cs. How else would the make any money from the GLOBAL TRAVELLER CARD?

Doshwaster

stilltheone wrote: »

Good thing that this is your first post, as you can easily discard your username and start again.

There are no new terms and conditions. That (2.5% surcharge) has always been part of the T&Cs. How else would the make any money from the GLOBAL TRAVELLER CARD?

That's right. The fee for using the card in a different currency to which it is issued in has always been there. The simple answer is have a Euro card for Euroland, a dollar card for the US and anywhere else that takes dollars and a Pound Sterling (Global Traveller) card for elsewhere. Even with the loading Caxton's rates are still better than most other providers, especially when there is no cash withdrawal fee (although the ATM provider may still charge)

Fabrice

stilltheone wrote:

There are no new terms and conditions. That (2.5% surcharge) has always been part of the T&Cs. How else would the make any money from the GLOBAL TRAVELLER CARD?

Doshwaster wrote: »

That's right. The fee for using the card in a different currency to which it is issued in has always been there. The simple answer is have a Euro card for Euroland, a dollar card for the US and anywhere else that takes dollars and a Pound Sterling (Global Traveller) card for elsewhere. Even with the loading Caxton's rates are still better than most other providers, especially when there is no cash withdrawal fee (although the ATM provider may still charge)

Yes, I came back from Mauritius and was surprised to see that 2.5% charge too. That seemed excessive. How was I supposed to know how it compared to other cards on the day?

Does it really say exactly that they put that much charge on top of the convertion on Martin's guide to Travel Money?
.

Doshwaster

Fabrice wrote: »

Yes, I came back from Mauritius and was surprised to see that 2.5% charge too. That seemed excessive. How was I supposed to know how it compared to other cards on the day?

Does it really say exactly that they put that much charge on top of the convertion on Martin's guide to Travel Money?
.

See: http://www.caxtonfxcard.com/cards_description.asp

"The exchange rate applied is fixed at 2.5% from the prevailing interbank rate."

But that 2.5% is all you pay. There is no fee for loading the card and no per-use fee.

Fabrice

Doshwaster wrote: »

See: http://www.caxtonfxcard.com/cards_description.asp

"The exchange rate applied is fixed at 2.5% from the prevailing interbank rate."

But that 2.5% is all you pay. There is no fee for loading the card and no per-use fee.

Cool thanks.
Is there a 2.5% on the euro card?

Doshwaster

Fabrice wrote: »

Cool thanks.
Is there a 2.5% on the euro card?

No, as long as you only use the card in Eurozone countries. If you were to use it in the UK you would be charged the 2.5% as it is in a "foreign" currency to the one on the card.

The way Caxton and other similar operators make money on these currency cards is
1) the exchange rate is locked at the time of loading. They will be hedging that it moves in their favour
2) they will be earning interest on your balance but they don't pay any of it to you.