Caxton fx prepaid travel card

dunlopal

Just be aware that the downside of the card is that it cannot be used for more than 2 cash withdrawals in ANY 24hour period! Got the card for my daughter going on holiday - she was unable to withdraw cash last night cos she had already withdrawn twice before, the day before! you can still use the card to pay for transactions, but they cannot change the limit on the withdrawals, even though the card has 400 euros on it, and she had only withdrawn 40 euros over the 2 atm visits... Not much use for youngsters travelling, and I have cancelled the card I had ordered for my sons upcoming holiday.

Browntoa

it is in the blurb on the web site when you sign up, there is also a limit on the amount of cash you can withdraw in 24 hours

Neil49

dunlopal wrote: »

Just be aware that the downside of the card is that it cannot be used for more than 2 cash withdrawals in ANY 24hour period! Got the card for my daughter going on holiday - she was unable to withdraw cash last night cos she had already withdrawn twice before, the day before! you can still use the card to pay for transactions, but they cannot change the limit on the withdrawals, even though the card has 400 euros on it, and she had only withdrawn 40 euros over the 2 atm visits... Not much use for youngsters travelling, and I have cancelled the card I had ordered for my sons upcoming holiday.

You can also only make up to a maximum of 5 withdrawals in a 4 day period as per their FAQ's

What are the maximum ATM withdrawal limits on my card?
You can make 2 withdrawals in a 24 hour period and up to 5 over 4 days. Within these limits, you may withdraw up to 300GBP/500EUR/750USD, depending on the card you hold with us.


As you have gathered their are other cards that do not impose such a restriction, however, you may find that this is reflected in the exchange rate they load your card at (assuming it is a currency card) or that they charge a fee whenever you use an atm (such as FairFX).

dunlopal

Thanks for those replies. still a very restrictive card if you are using for atm transactions, and pretty much rules itself out as being useful for younger travellers on that basis.

NiftyDigits

dunlopal wrote: »

Thanks for those replies. still a very restrictive card if you are using for atm transactions, and pretty much rules itself out as being useful for younger travellers on that basis.

Of course your statement is complete nonsense. You simply didn't read the T&C and advise your daughter accordingly. Then she could limit herself to allowed amount of withdrawals. Three ATM withdrawals within 24hrs?? Is that really necessary?
You chose the card, not her.
Unless she is eighteen or over, there aren't many choices available.

If over eighteen, the Travelex Cash Passport gives a better exchange rate anyway.

mettlemickey

I agree with Dunlopal, this is a poor service.

Hiding something away in your T&Cs or FAQs doesn’t make it a good service for customers, it just means the firms covered themselves legally.

Also, I cancelled my application for the Caxton card as theres a check box near the end of the application process that states (something like)

‘I understand that the funds on this card are not protected by the financial services compensation scheme and that if the provider goes into liquidation I will not get my money back’

A bit disappointing given one of the main benefits of this type of card are apparently that you DO get your money back if the provider goes bust.

Also, beware of the Travelex card. I’ve had one (well 2) of these for a few years. The reload rate is different depending on whether you do it by phone, internet banking or via their own website. The best rate is on their website but I’ve found this consistently does not work. I spent over an hour on the phone to them before my last trip abroad trying to get it working, in the end they gave up and reloaded it via the phone and gave me €20 extra for the trouble (quite nice of them but not a great process).

Also, one of our Travelex cards stopped working on our last trip (faulty chip I think). When I called them to order a replacement they said they wouldn't send one as I already had a second card and ‘that’s what its for’. Not great, even if they say that in T&Cs.

Im considering the UKash card now, but they seem a bit of an unknown quantity…

Its a jungle out there people!

dzug1

mettlemickey wrote: »

‘I understand that the funds on this card are not protected by the financial services compensation scheme and that if the provider goes into liquidation I will not get my money back’

A bit disappointing given one of the main benefits of this type of card are apparently that you DO get your money back if the provider goes bust.

Isn't that the case with all these cards though, not just Caxton?


I've not been aware of the benefit you mention. I can only think of two benefits:


with some of them, low fees, etc


it protects your bank account from the big bad world


offset by a certain amount of 'clunkiness' in operations and the near impossibility of spending all the money that's there



I've got one, have done so for some time but have used it less than once a year but have yet to be bothered to devise a decent exit strategy

mettlemickey

Maybe it is, maybe Caxton are just more upfront, but it is slightly at odds with the advice on the MSE main site.

See top 5 benefits of prepaid cards section on this page

http://www.moneysavingexpert.com/travel/cheap-travel-money#prepaid