FairFx

Neomi

Hey, My family and I are travelling to Jamaica next month and we are thinking about purchasing a fair fx card. However, we have the following question. If we buy the dollars card, when we come back to the UK how will we be able to withdraw all funds from the card and what are the charges for doing so. Thanks in advance.

ferf1223

http://www.fairfx.com/faq/#viewport

Can I have the balance on my account refunded to me? Yes. Funds can obviously retrieved from the card by making ATM withdrawals. If, however, you require a refund we can process this subject to a fee of £10 for the $ and € Cards and 1.4% subject to a minimum of £10 for the £ card. For the $ and € refunds FairFX calculate the exchange rate based on the rate on that day. Our buy back rates are equally as competitive as the rates that we sell currency at.
We recommend that customers keep their FairFX Currency Card until it expires as it can be re-used for future trips.


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, Dollar and £ Sterling 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 cards outside their "Issue Currency" (e.g. a card for a € transaction) there is a 1.4% exchange rate applied. If you are withdrawing currency internationally at an ATM the fees are €1.50, $2.00 and £1.00 (£1.50 in UK) depending whether you have a € Euro, Dollar or £ Sterling card. Please note, some ATM providers charge for using their cash points however they normally inform you of this before you make a withdrawal

stilltheone

Travelex Cash Passport Globe is best for you.

Why would a buy a US$ card? What are you thinking??

Neomi

ferf1223 wrote: »

Yes. Funds can obviously retrieved from the card by making ATM withdrawals. If, however, you require a refund we can process this subject to a fee of £10 for the $ and € Cards and 1.4% subject to a minimum of £10 for the £ card. For the $ and € refunds FairFX calculate the exchange rate based on the rate on that day. Our buy back rates are equally as competitive as the rates that we sell currency at.
We recommend that customers keep their FairFX Currency Card until it expires as it can be re-used for future trips.


The Euro, Dollar and £ Sterling 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 cards outside their "Issue Currency" (e.g. a card for a € transaction) there is a 1.4% exchange rate applied. If you are withdrawing currency internationally at an ATM the fees are €1.50, $2.00 and £1.00 (£1.50 in UK) depending whether you have a € Euro, Dollar or £ Sterling card. Please note, some ATM providers charge for using their cash points however they normally inform you of this before you make a withdrawal

Just so I understand, I have a US dollars card and when I return to the UK I want to withdraw $200 for ex. You have to pay £10 when done via the machine + exchange rate? In the second bullet point, would the 1.4% fee apply to me?

ferf1223

you can't withdraw USD from a cashpoint in the UK...you would be wtihdrawing GBP.

According to their T&Cs you have two options:

1) have FairFX refund for a fee of £10.

2) withdraw funds from the card when you are back in the UK (in GBP) fee of £1.50 + 1.4% exchange rate uplift applied.

One of the issues to me with pre-paid cards is you can't always get every last cent back off of them...since most cashpoints in the UK only dispense down to £10, you could end up with a random small balance with no way to use it unless you spend it in the card currency.

stilltheone

ferf1223 wrote: »

you can't withdraw USD from a cashpoint in the UK...you would be wtihdrawing GBP.

According to their T&Cs you have two options:

1) have FairFX refund for a fee of £10.

2) withdraw funds from the card when you are back in the UK (in GBP) fee of £1.50 + 1.4% exchange rate uplift applied.

One of the issues to me with pre-paid cards is you can't always get every last cent back off of them...since most cashpoints in the UK only dispense down to £10, you could end up with a random small balance with no way to use it unless you spend it in the card currency.

Why would you even countenance the idea of her taking a US$ card to Jamaica?
It just doesn't make any sense.

ferf1223

I've no idea - have never been to Jamaica and have never considered what currency would be best...just answering the question she's asked.

Neomi

stilltheone wrote: »

Why would you even countenance the idea of her taking a US$ card to Jamaica?
It just doesn't make any sense.

USD is widely accepted in Jm and if needed you can always exchange them to JA dollars.

stilltheone

Neomi wrote: »

USD is widely accepted in Jm and if needed you can always exchange them to JA dollars.

Come on Neomi...from where will you get the US$?

Just because the card is denominated in US$, it doesn't mean that you can withdraw cash in US$. It will come out of the ATM in Jammy Dodgers. So you would have changed your £s to US$(and lost money in the process) for nothing.
What are you thinking??

Look at yourself in the mirror, hit yourself on the forehead and say "doh!".

I hope you take it in the spirit it was intended.


Get the card I suggested and order it via Top Cashback or for an extra saving if you want to get the most J$ for your money.

Neomi

stilltheone wrote: »

Come on Neomi...from where will you get the US$?

Just because the card is denominated in US$, it doesn't mean that you can withdraw cash in US$. It will come out of the ATM in Jammy Dodgers. So you would have changed your £s to US$(and lost money in the process) for nothing.
What are you thinking??

Look at yourself in the mirror, hit yourself on the forehead and say "doh!".

I hope you take it in the spirit it was intended.


Get the card I suggested and order it via Top Cashback or for an extra saving if you want to get the most J$ for your money.

I've been to Jamaica before and used a normal card to withdraw US Dollars at an atm before so at least the charges will be comparatively cheaper than before. Most machines esp in resorts ask whether you would like to withdraw the currency in USD in Jamaican Dollars either.

stilltheone

Neomi wrote: »

I've been to Jamaica before and used a normal card to withdraw US Dollars at an atm before so at least the charges will be comparatively cheaper than before. Most machines esp in resorts ask whether you would like to withdraw the currency in USD in Jamaican Dollars either.

Either way, it is still better to keep your card in Pounds, so it doesn't matter which currency that you withdraw. Otherwise you are likely to lose, one way or the other.