FairFX card from ages ago... best way to recoup the balance?

TehJumpingJawa

I got it for use with Ryanair way back when they moved from electron over to fairfx, but I've never actually got around to using it - and now they nolonger accept it, I doubt I ever will.

It's only got £10 on it; what's the best way of getting the balance back?
I tried sticking it in a highstreet ATM; I was warned that the withdrawal might incur a fee, and was consequently told there were insufficient funds to withdraw £10. (presumably it was applying a fee)

The FairFX website seems to have conflicting information on it:

Here is states that Sterling withdrawals made in the UK (and overseas) are free.

Transaction fees:
Euro & Dollar cards

• FREE for purchase transactions made in the UK and overseas

Anywhere Card (Pounds Sterling)

• 1.5% transaction fee.

Cash withdrawal fees:

Euro & Dollar cards

• €1.5/$2 per ATM withdrawals in the UK and overseas

Anywhere Card (Pounds Sterling)

• FREE for withdrawals made in the UK and overseas

Yet Here is states there is a £1.50 per transaction fee.

We do not charge any monthly or quarterly fees or any fees for checking your on-line balance and statements. The $ and € cards incur fees for ATM withdrawals at $2.00 and €1.50 respectively. The £ card incurs 1.4% cost on all transactions and an additional £1 for overseas ATM withdrawals. UK ATM withdrawals for the £ card incur a £1.50 charge but do not incur 1.4% on top of this. Please refer to our terms and conditions for detailed information regarding fees.

Any ideas?

Do I need to load it with a further £1.50 to cover the fee of withdrawing the £10 balance?

antenna

Use it in Tesco's.......other shops are available

TakeThis

Sterling ATM Transaction Fee €1.50 for the Euro card and $2.00 for the US Dollar card and £1.50 for the £ Anywhere Card

Sterling Point Of Sale Transaction Fee A 1.4% transaction fee for the Anywhere Card applies to all transactions placed in Sterling.

baldmosher

The Ts & Cs for the card on the website are frankly pathetic. They are self-contradictory and you have to phone FairFX just to find out what the heck is really going on. Verbal information that conflicts with written information is very sneaky. Especially when it's a pre-pay card so they have your money ergo the upper hand in any debate over charges.

(I've not studied the printed Ts & Cs I received with the card, I'm not certain I still have them, if I ever received them on paper in the first place of course.)

Clause 10 is all about refunds. "When we process your refund, we may charge a Refund Fee (see Fees section below)." There is no Refund Fee outlined in the Fees section. There is however a Redemption Fee of "1.40% of outstanding balance for £ Anywhere Card subject to minimum charge of £10". This makes it very uneconomical to cancel the card, and I suspect you might be a bit daft to argue unfair Ts & Cs in court over £1.50. Also if the card expires, you'll be charged £9.95 to renew. What happens if you have zero balance on the card, I'm not sure. It doesn't stipulate.

In a nutshell, TakeThis covers the charges for UK transactions. Cash withdrawal is the most economical if you have about £100 or more on the card but you'll need to make sure your balance ends with 1.50 (be that £101.50 or £51.50 or £11.50) to cover the withdrawal charge. If you have less than £100, and you can be bothered to work out a precise amount to spend on the card, then the 1.4% charge on UK £ purchases is better value. But you'll probably find it's easier to add a top up (minimum of £50) up to the required amount and then withdraw the cash and pay the £1.50 withdrawal fee.

For example, I've got £89.97 balance. So I need to top up with £51.53 to leave me with £141.50 which I can then withdraw from an ATM and then close the account.

This card has saved me a fair amount in ATM charges in Sweden, and definitely more than £1.50, so it was worth while. However, I've now got Santander Zero debit and credit cards which both entitle me to 0% cash withdrawals and purchases overseas so the FairFX card is pointless for me.

blackaqua

I've got the same question,

If I withdraw the balance and cancel the card will there be any charges?

If I cancel the card with no balance then I obviously don't want the "refund" fee which isn't even stated in the terms and conditions.

Thanks