Travelex Globe Card

JimBlizz

Hi All,

I am in the eurozone for a few days at the end of August and then the USA for two weeks in september and I am looking at cards to take with me.

I don't really want to have to apply for another credit card and so am considering the Travelex Passport Globe card.

Can anybody tell me if you can "withdraw" funds back off the card if you happen not to spend them? Is there any disadvantage to this card given that I will be using it in two currencies? :cool:

Thanks,
Jim

dzug1

You can use the card in the UK for a 99p fee

There is a £6 fee for cancelling the card and getting any funds - so it's easier to spend. If you are lucky the final balance is zero, if not you may have lost a £ or two

The disadvantages for some is they can't track their expenditure to the penny and don't know the precise exchange rate until after the event.

stilltheone

dzug1 wrote: »

You can use the card in the UK for a 99p fee

There is a £6 fee for cancelling the card and getting any funds - so it's easier to spend. If you are lucky the final balance is zero, if not you may have lost a £ or two

The disadvantages for some is they can't track their expenditure to the penny and don't know the precise exchange rate until after the event.

Of course they can track their expenditure to the penny. What gives you the idea that they cannot?
Firstly, there is online account access. As to planning your spending abroad in the case of not having any access to account information via ATM or Internet, you can simply under-estimate the exchange rate given. So if Mastercard exchange rate is 1.12, then the equivalent exchange rate of the TCPG would be 1.1033. Round it down to a safe figure and use that for your calculations.

dzug1

stilltheone wrote: »

Of course they can track their expenditure to the penny. What gives you the idea that they cannot?
Firstly, there is online account access. As to planning your spending abroad in the case of not having any access to account information via ATM or Internet, you can simply under-estimate the exchange rate given. So if Mastercard exchange rate is 1.12, then the equivalent exchange rate of the TCPG would be 1.1033. Round it down to a safe figure and use that for your calculations.

I'm not disagreeing with you - but some people seem to want to track their expenditure to the penny before the event. I don't understand why, but they do.

But yes AFTER the event they can track to the penny. I expressed myself inelegantly there - not quite what I intended to say.:o

stilltheone

dzug1 wrote: »

I'm not disagreeing with you - but some people seem to want to track their expenditure to the penny before the event. I don't understand why, but they do.

But yes AFTER the event they can track to the penny. I expressed myself inelegantly there - not quite what I intended to say.:o

I meant before.
They still can, by estimating the amount of euros/foreign currency on the card by rounding down the Mastercard/TCPG exchange rate as explained above.

dzug1

stilltheone wrote: »

I meant before.
They still can, by estimating the amount of euros/foreign currency on the card by rounding down the Mastercard/TCPG exchange rate as explained above.

Yep they can estimate. For some of them that wouldn't be good enough

stilltheone

dzug1 wrote: »

Yep they can estimate. For some of them that wouldn't be good enough

Can't imagine why not.
They can budget for exactly the amount of Euros they would have received with a Euro card. That would leave them with a buffer that they wouldn't have with a foreign currency card.

What is the difference with having 500 euros on a euro card and having 507 euros on the TCPG(after deductions) but acting as if you have only 500??

phildo_2

stilltheone wrote: »

Can't imagine why not.
They can budget for exactly the amount of Euros they would have received with a Euro card. That would leave them with a buffer that they wouldn't have with a foreign currency card.

What is the difference with having 500 euros on a euro card and having 507 euros on the TCPG(after deductions) but acting as if you have only 500??

I like to load round multiples of €301.50 onto my Fairfx € card. I then withdraw €300 at a time which allowing for the €1.50 fee leaves me either at €0 or if I'm lucky €301.50!

My issues with Travelex globe are:
1. it's messy in terms of leaving small balances
2. the 1.49% conversion off mastercard rate is only a tiny bit better than fairfx's own rate anyway!
3. i have a bank account with Visa debit so i get charged for currency purchases, fairfx process top ups as a UK purchases so no charges

stilltheone

phildo wrote: »

I like to load round multiples of €301.50 onto my Fairfx € card. I then withdraw €300 at a time which allowing for the €1.50 fee leaves me either at €0 or if I'm lucky €301.50!

My issues with Travelex globe are:
1. it's messy in terms of leaving small balances
2. the 1.49% conversion off mastercard rate is only a tiny bit better than fairfx's own rate anyway!
3. i have a bank account with Visa debit so i get charged for currency purchases, fairfx process top ups as a UK purchases so no charges

Why, oh why don't people check the facts before posting the same old nonsense time and again?
Sorry, but your post is just nonsense.

1. Messy? Who cares if you are getting more for your money?
2. is just completely wrong. You've been hit on the exchange rate and the withdrawal charge.
3. TCPG is the same, so what is your point?

phildo_2

stilltheone wrote: »

Why, oh why don't people check the facts before posting the same old nonsense time and again?
Sorry, but your post is just nonsense.

1. Messy? Who cares if you are getting more for your money?
2. is just completely wrong. You've been hit on the exchange rate and the withdrawal charge.
3. TCPG is the same, so what is your point?

Calm down! Which part of my post is nonsense?

1. It is a messier system to load £ and spend in € or $ than to load in the currency you are going to spend. It leaves small balances - FACT
2. The fairfx rates are usually 1.7% off the mastercard rate. The TCPG charges 1.49% a difference of 0.2% on card purchases. For ATM use the fee works out at 0.5% (€1.50/€300) so 0.7% premium over the TCPG - this only a tiny bit better - MY OPINION
3. The T&C's on the travelex site say that maestro and mastercard debit is free but visa debit is charged a cash advance fee. - May not be right but I take it at face value ?

Anyway - I didn't even say fairfx was better, just that I prefer it and accept that the costs are a tiny bit higher than TCPG but there are some benefits to having a € balance... how is that nonsense ??

I only posted as you asked why some people prefer to know what's on the card in €'s to the cent. I answered. I am prepared to pay a slight (very slight) premium to know that the card will be empty after my holiday.

luckwudaveit

phildo wrote: »

Calm down! Which part of my post is nonsense?


3. The T&C's on the travelex site say that maestro and mastercard debit is free but visa debit is charged a cash advance fee. - May not be right but I take it at face value ?

I applied for and loaded a Travelex Globe card last week and received it this week. I put £300.00 on it from a Visa debit card and there were no cash advance charges, as per my previous discussion with my bank. However, there was a £1.50 delivery charge for the card as I didn't have enough funds available to avoid this charge.