Table of best pre-paid cards

Bob_the_Saver

http://www.dailymail.co.uk/money/cardsloans/article-2166113/Watch-hidden-charges-prepaid-cards.html

Table of charges near the bottom - Fairfx Anywhere card the winner -discuss

budgetflyer

It really depends which Travelex Cash Passport. Id suggest the example uses the Euro version. I think the Globe, GB card would come out above Fair FX

TakeThis

Another poorly researched and carried out article, to rival the similar article on the MoneySaving website...

Again, the Cash Passport Globe and Kalixa aren't included.

Traviata

I've been researching all the pre-paid cards as I want to get one for both myself and my partner for our trip to New York. I'm leaning towards the Travelex Passport Globe, but put off by the fees for ATM withdrawal. I would have been to bothered by those but (please correct me if I'm wrong) it seems you also get charged 1.49% on all purchases too? In your opinions what makes this the better of the prepaid cards?

Thanks for your advice.

zagfles

TakeThis wrote: »

Another poorly researched and carried out article, to rival the similar article on the MoneySaving website...

Again, the Cash Passport Globe and Kalixa aren't included.

And in the fees, the forex markup isn't mentioned.

Also in the credit cards bit at the bottom the Halifax Clarity isn't mentioned.

Completely rubbish article.

TakeThis

Traviata wrote: »

I've been researching all the pre-paid cards as I want to get one for both myself and my partner for our trip to New York. I'm leaning towards the Travelex Passport Globe, but put off by the fees for ATM withdrawal. I would have been to bothered by those but (please correct me if I'm wrong) it seems you also get charged 1.49% on all purchases too? In your opinions what makes this the better of the prepaid cards?

Thanks for your advice.

What fees for ATM withdrawal? What are you talking?

What alternatives are you considering?

travellerboy

Never use them myself, much prefer to use a Zero transaction card like Hailfax Clarity. Be aware if you use these preloaded cards and don't spend all the money within normally 3months you will be charged a dormant fee each and every month.

Mr_Wang

travellerboy wrote: »

Be aware if you use these preloaded cards and don't spend all the money within normally 3months you will be charged a dormant fee each and every month.

Not with Fair FX.

Doshwaster

Mr_Wang wrote: »

Not with Fair FX.

Or Caxton.

Traviata

TakeThis wrote: »

What fees for ATM withdrawal? What are you talking?

What alternatives are you considering?

With regard to the fees, I read that on the Travelex Passport Globe Card you get charged 1.49% on ATM withdrawals and on purchases you make. I've seen that with others (like the Caxton), you don't get charged any withdrawal, loading or top up fees. However from what I've read most people seem to prefer the Travelex Passport Globe out of the prepaid cards. I was just wondering what it is that makes people prefer them over other cards that don't charge a fee for purchases/withdrawals.

Doshwaster

Traviata wrote: »

With regard to the fees, I read that on the Travelex Passport Globe Card you get charged 1.49% on ATM withdrawals and on purchases you make. I've seen that with others (like the Caxton), you don't get charged any withdrawal, loading or top up fees. However from what I've read most people seem to prefer the Travelex Passport Globe out of the prepaid cards. I was just wondering what it is that makes people prefer them over other cards that don't charge a fee for purchases/withdrawals.

Not quite true. Caxton may have free withdrawals and no loading/spending fees but they make their money on the exchange rate you get which is slightly worse than TravelEx.

For example, today Caxton are quoting €1.2150 to the pound. The interbank rate is 1.23946. That's a 1.97% difference.

If you are going to be spending mostly by card payments then the TravelEx card will be cheaper. If you make a lot of ATM withdrawals then Caxton can be cheaper - but on a typical holiday spend of £500 then there's only going to be a few quid in it and so it's not worth losing sleep over. Both cards are much better than using your normal High Street bank card which have exchange rate loadings of approx 3% + withdrawal fee.

Another thing to bear in mind is if you use a Euro (or Dollar) card then you are locking in at one exchange rate. This could be good or bad depending on what the pound does while you are away. With the Sterling cards you get the daily rate (minus the loading). However, as above, on a few hundred pounds this may be only a few quid difference.