Fair FX Pre-paid Currency Card

sb7

Hi,
Just wondering if anyone has tried using FairFX $ card in South America?

If you haven't, please don't. Read on if you are interested to hear why not.

I specifically chose FairFX because of the good rate, small withdrawal transaction fees, but was caught out. They claim that the maximum withdrawal limit is $1000. I had planned the pre-paid amount very carefully so that I had enough for 3 transactions. Then, when in Peru, I was stunned to discover that the maximum withdrawal amounts were actually $100, sometimes $140, on only a couple of occasions $200. It caused stress, wasted time in trying different cash points, but also queueing in banks to see if I could get more over the counter. I had to get money over the counter on one day because I simply could not get enough cash out - I needed over $600, the limit was $140, you are only allowed 3 withdrawals a day.....then as it was done over the counter, they withdrew in soles and then exchanged it to dollars, which cost over $15 in exchange fees.

I have complained and all I have got was 'sorry', 'we have no control over ATMs around the world', 'we hope it did not ruin your holiday too much' ' we can see that you made these withdrawals on these times, so you were able to get your cash', etc. Absolutely hopeless.

I do not know if there are problems with low withdrawal limits in USA / other countries.

TakeThis

sb7 wrote: »

Hi,
Just wondering if anyone has tried using FairFX $ card in South America?

If you haven't, please don't. Read on if you are interested to hear why not.

I specifically chose FairFX because of the good rate, small withdrawal transaction fees, but was caught out. They claim that the maximum withdrawal limit is $1000. I had planned the pre-paid amount very carefully so that I had enough for 3 transactions. Then, when in Peru, I was stunned to discover that the maximum withdrawal amounts were actually $100, sometimes $140, on only a couple of occasions $200. It caused stress, wasted time in trying different cash points, but also queueing in banks to see if I could get more over the counter. I had to get money over the counter on one day because I simply could not get enough cash out - I needed over $600, the limit was $140, you are only allowed 3 withdrawals a day.....then as it was done over the counter, they withdrew in soles and then exchanged it to dollars, which cost over $15 in exchange fees.

I have complained and all I have got was 'sorry', 'we have no control over ATMs around the world', 'we hope it did not ruin your holiday too much' ' we can see that you made these withdrawals on these times, so you were able to get your cash', etc. Absolutely hopeless.

I do not know if there are problems with low withdrawal limits in USA / other countries.

US$ originate from North America. Why would you purchase a US$ card for South America?

The Travelex Cash Passport Globe would have been much more suitable.

Roger1

TakeThis wrote: »

US$ originate from North America. Why would you purchase a US$ card for South America?

Unfair. I can use my cards in countries other than their nominal currency.

The Travelex Cash Passport Globe would have been much more suitable.

Have you tried this in Peru? If not, you wouldn't know whether this card would have been 'much more suitable'.

There's a lot of discussion in MSE about prepaid currency cards. FWIW, I think the Kalixa card www.kalixa.com is worth a look.