Fair FX ATM charges

Dick_Turpin99

Since September I noticed that FairFX commissions on withdrawals have changed. Previously was only $2.00 flat rate on any amount. Now $800 ($824 inc. local bank fee) costs $12.36 and $900 ($927 inc. local bank fee) costs $13.91.

Anyone else noticed this?

jen245

No, just come back from the states last week and and havent noticed anything other than the $2 fee, plus whatever the ATM charges

Dick_Turpin99

So to update this thread.

Since starting to use the card on 31/07/09 I have always used it at a local bank in the town I live in, there's no ATMs being a remote backwater (not in USA) and a prehistoric banking system. The charge has always been a flat $2.00.

Now this has been abandoned and a bank transaction a fee applied of either 1.5% or 5.00UKP (whichever is greater) applies.

StevieTravel

Hi !!!!!!,

If you email enquiries@fairfx.com with the subject title "Moneysavingexpert forum" - I can get a member of the team to look into it for you as a matter of urgency.

I hope that helps,

Stevie

NiftyDigits

Over the counter bank branch withdrawal fee €6.25/£5/$7.50 (1.5% minimum charge) per withdrawal made via a bank branch (effective from 11/9/2012)

It is because you are withdrawing 'over the counter' and not from an ATM machine.

NiftyDigits

StevieTravel wrote: »

Hi !!!!!!,

If you email enquiries@fairfx.com with the subject title "Moneysavingexpert forum" - I can get a member of the team to look into it for you as a matter of urgency.

I hope that helps,

Stevie

Are you representing FairFx here?

Dick_Turpin99

NiftyDigits wrote: »

It is because you are withdrawing 'over the counter' and not from an ATM machine.

I know. The issue is that since 2009 I have been withdrawing over the counter - substantial amounts too......now since 01/09/12 they put the charge up!

Dick_Turpin99

StevieTravel wrote: »

Hi !!!!!!,

If you email [EMAIL="enquiries@fairfx.com"]enquiries@fairfx.com[/EMAIL] with the subject title "Moneysavingexpert forum" - I can get a member of the team to look into it for you as a matter of urgency.

I hope that helps,

Stevie

Stevie, Thanks for that......for what its worth I have already had a dialogue with them, the answer was its new policy.
If you think it will make a difference I will try......but.....reckon I will go with Caxton

NiftyDigits

!!!!!!_Turpin99 wrote: »

Stevie, Thanks for that......for what its worth I have already had a dialogue with them, the answer was its new policy.
If you think it will make a difference I will try......but.....reckon I will go with Caxton

Are you sure?

Caxton Fx: Over the counter cash - domestic
£4.50

Dollar Traveller: $8.00

Over the counter cash - international
£4.50 plus 2% of withdrawal amount
€6.50 plus 2% of withdrawal amount
$8.00 plus 2% of withdrawal amount

FX mark-up where a transaction is performed in a currency different to that of the card, the rate of exchange used is the Visa Europe rate ruling at that time marked up by 2.75%

It's a Prepaid card thing.

Dick_Turpin99

Just to update

Fairfx for 900$ (927$ inc. local bank %) costs 591.77UKP
Official rate 1.623 - Fairfx rate 1.59

Caxton for 900$ (927$ ****) costs 588.96UKP
Official rate 1.6181 - Caxton rate 1.6181

NiftyDigits

!!!!!!_Turpin99 wrote: »

Just to update

Fairfx for 900$ (927$ inc. local bank %) costs 591.77UKP
Official rate 1.623 - Fairfx rate 1.59

Caxton for 900$ (927$ ****) costs 588.96UKP
Official rate 1.6181 - Caxton rate 1.6181

What kind of crazy nonsense are you posting here?

Are you even comparing like with like?

Comparing the FairFx Dollar card with a Caxton Global card makes no sense whatsoever.

Also insinuation that Caxton gives you the full Visa rate is simply erroneous. Caxton take 2.75%, whilst FairFx takes 1.40% from the Mastercard rate.

So your figures are just wrong.

Visa rate for today is US$1.617 So Caxton Global will take 2.75% from that as well as the over the counter fees(£4.50 plus
2% of withdrawal amount).

Mastercard rate is US$1.61780 of which Fairfx Anywhere will take 1.4% plus the over the counter fees(€6.25/£5/$7.50 (1.5% minimum charge) per withdrawal)

So like for the the Anywhere card will be cheaper.

So if you are going to post figures, be aware that they have six different cards between them.
Without naming the particular card, your comparison is meaningless.