Travelex Supercard

callum9999

eDicky wrote: »

Now I see what you mean by future. Maybe they can't change the rules later on so easily for the first people who get their cards by signing up / pre-order now.

Anyway, as you say, the future will tell...

Yeah, I meant more like next year as opposed to next month.

I'd imagine their T&Cs would let them change whenever they want with sufficient notice. I really don't know if they will introduce new fees on a card they're specifically marketing for it's lack of fees though!

There's possibly something we're all missing that will make it viable though - maybe they can exploit the movement of money in some form. I.e. it's a UK only card so their customers will be giving Travelex GBP predominately in exchange for other currencies. Nothing springs out to me, but maybe there's some sort of arbitrage there?

budgetflyer

A monthly fee is the only thing I can think of that will make this work.

lpgm

We know it'll cost you to use it in the UK. Although would enough people really be that lazy/careless/indifferent?

They're making a big thing of the app. Could targeted advertising support it?

SingingDwarf

Petetobin wrote: »

There are standard rates which card schemes use and normally the issuer adds in a markup. However, an Issuer can apply their own rates if they wish as they also see the original currency amount.

Supercard have said on their Twitter feed that they

&#64 wrote: »

...use the Visa Europe Exchange rate. They issue the rate daily here: http://www.visaeurope.com/making-payments/exchange-rates

https://twitter.com/SupercardUK/status/577163567100743680

Ballard

This is a puzzle.

Could Travelex be simply taking a punt on the foreign exchange rates? I withdraw $500, Travelex has this as a US domestic payment and is debited $500. They take the Visa rate and perform a UK domestic payment and are credited £335. They then have a position which they may expect to be able to take a profit on at some point (obviously in bulk).

Johnnyb007

Well I've pre-ordered one but thinking about getting a backup anyone got a recommendation for prepaid currency card mainly because I've had a credit card in the past and just recently paid off the debt?

eDicky

lpgm wrote: »

They're making a big thing of the app. Could targeted advertising support it?

Yes, this is the most likely intended revenue source - harvesting and analysis of users' location and data and selling it on to third parties for targeted marketing etc. The privacy policy of their potential competitor, revolut.com, indicates this Facebook style business model.

LesD

"...and it's all gone quiet over there,
I said it's all gone quiet over there,
It's all gone quiet, all gone quiet, all gone quiet over there!"

eDicky

Yes, it was a quiet April...

When will I get my Supercard?
The Supercard pilot is set to launch in April 2015, if you've already registered your interest, you'll receive an email reminder when the app goes live in the App Store or Google Play. Once you've downloaded the app and registered, if your application is successful, we'll post your Supercard to you. Please note that during the pilot, supply of Supercards is limited and demand is expected to be extremely high - so not all applications will be successful immediately

...And Revolut sent me an email asking me to recommend them to Richard Branson..!

Ratison

On their twitter account, they seem to be telling people that May is the new launch date, and replying to people travelling at the end of May saying that they should have one. It's a lot of 'shoulds' and 'hopefullys!"