Cashplus currency card

Lgas

Okay will do, as soon as I get the chance.

Lgas

Well I have my answer now. My currency card arrived today so once i'd activated it I went to do a transfer onto it. The exchange rate is 1.10, so compared to the cash passport globe which is 1.108 I think it's pretty damn good! And no other fees whatsoever for using it.

stilltheone

Lgas wrote: »

Well I have my answer now. My currency card arrived today so once i'd activated it I went to do a transfer onto it. The exchange rate is 1.10, so compared to the cash passport globe which is 1.108 I think it's pretty damn good! And no other fees whatsoever for using it.

Hold your horses. First of all, the TCPG exchange rate after the 1.49% deduction is currently 1.1226.

The Mastercard rate for today is 1.1395.

You claim to have received 1.10. So you are losing 2.26 cents for every pound compared to the TCPG and nearly 4 cents as compared to the Mastercard rate.

As expected, the exchange rate you have received is around 3.5% below mid-market. So not good at all.

Lgas

I got that rate from Travelex's exchange rate page for today. I can't seem to find Mastercard's rate anywhere so i'll take your word for it. But lets say I was going to exchange my money the old fashioned way and take cash on holiday, I still think i'm getting a good deal.



Also, I haven't actually ordered the currency, I just got the checkout stage, i'm not going on holiday for another 5 1/2 weeks.

stilltheone

Lgas wrote: »

I got that rate from Travelex's exchange rate page for today. I can't seem to find Mastercard's rate anywhere so i'll take your word for it. But lets say I was going to exchange my money the old fashioned way and take cash on holiday, I still think i'm getting a good deal.



Also, I haven't actually ordered the currency, I just got the checkout stage, i'm not going on holiday for another 5 1/2 weeks.

If you think that you are getting a good deal and you are happy, it just goes to prove the old adage; Ignorance is bliss.

It doesn't seem to matter what you are told, you are still trying to insist that it's a great deal.
You are deluding yourself.

You can't imagine how tedious that it is, having the same argument every day where someone seems to think they have found the best deal on the market, but they simply have not done adequate research.

MasterCard's Currency Conversion Tool


I have no idea as where you dragged your screenshot from, but it is out of date.

The Post Office rate currently is 1.1063. So yours is even worse than that.

Up to you, you seem to have sold yourself on the idea.

Lgas

The screenshot was stated as being correct as of the date I posted it. It's from 'best exchange', just a random google. Maybe I am 'ignorant' but I didn't actually plan on having a huge debate about this. I've never gotten this far involved into exchange rates in my life, i've always just gone and exchanged my cash wherever is cheapest. Then again i've never even had a credit card before.

I don't fully understand the fees for the TCPG, they don't seem to state them in one place on their website. For topping up the card, "Credit/Debit cards may be subject to a card handling fee or cash advance fee set by the card issuer". What does this mean and how much are they talking about?

If there really are no fees for the card (and I would get the currency card in Euros, not the globe which is sterling) then I would get one. I can see that the exchange rate is better for the Travelex card, are you happy?

stilltheone

Lgas wrote: »

The screenshot was stated as being correct as of the date I posted it. It's from 'best exchange', just a random google. Maybe I am 'ignorant' but I didn't actually plan on having a huge debate about this. I've never gotten this far involved into exchange rates in my life, i've always just gone and exchanged my cash wherever is cheapest. Then again i've never even had a credit card before.

I don't fully understand the fees for the TCPG, they don't seem to state them in one place on their website. For topping up the card, "Credit/Debit cards may be subject to a card handling fee or cash advance fee set by the card issuer". What does this mean and how much are they talking about?

If there really are no fees for the card (and I would get the currency card in Euros, not the globe which is sterling) then I would get one. I can see that the exchange rate is better for the Travelex card, are you happy?

I didn't mean 'ignorant' in the negative sense of the word. More that if you don't know better, you don't know what you are missing.

Travelex Cash Passport Globe Terms and Conditions. All in one place for you. Ignore the £29.99 fee, as it has been waived.

Lgas

Thank you, I couldn't find that page anywhere. I think I will order one after my next pay day, and get my Euros then.