Travelex Supercard

NiftyDigits

matthewh wrote: »

What brilliant logic. They went through the enormous amount of work required to build financial software to dynamically link bank cards on the fly to a prepaid card, and will provide an ongoing service to the people using it, just so they can get a list of names and email addresses.

I take it you're some kind of expert financial analyst with such deep insight?

Financially savvy I would say - was doing a lot of the things Martin champions a long time before he got on the bank wagon. Also seen Martin mess up basic maths on the telly - so he is no great financial expert either!

It wasn't necessary to add bank account details in order to receive the card.
That renders the card pretty useless then! How are you going to make any purchases without linking an account in some way!


The biggest concern I have with this is, you lot are all trusting Travelex with free reign to your bank account/credit card! No institution is 100% perfect and mistakes will happen - I wonder how forthcoming they will be with rectifying the mistakes quickly!

Also, how long will it be before the credit card companies get wise to it, and treat their transactions as cash advances and therefore subject them to fees, like they do with foreign currency purchases!

Perhaps you should learn to read, before shooting off at the mouth.

You wrote;

They now have 25000 names and email addresses, plus bank accounts for their suckers list.

and I replied that they don't necessarily have bank account details at this stage, as there was no need to enter bank account details in order to receive a card.

I'm in no rush to use the thing, as I have alternatives. As to harvesting names and email addresses, I think that you may need to see someone about your apparent paranoia.

Tuxedo are not a new company. They have many products out there already.

You don't appear quite as 'savvy' as you might like to think.

platterfish

I also tried yesterday and wasn't successful yet I've received an email saying its on its way.

Does anyone know if you link a credit card if it will treat it as a cash transaction therefore charge interest straight away. Thanks

boo_star

platterfish wrote: »

I also tried yesterday and wasn't successful yet I've received an email saying its on its way.

Does anyone know if you link a credit card if it will treat it as a cash transaction therefore charge interest straight away. Thanks

Foreign transactions are fee free (even cash as its presented to your bank as a purchase.)

You can't use it in the UK with a a CC and the costs for a debit card are high.

Erme

Well....well....well

Got as far as the 'registering' bit on the day MSE sent the email. Gave up on it (am on cheap android budget phone). Last night got an email saying one is in the post

To say I am pleased is the understatement! Regularly make overseas transactions with visa debit which charges me. So pleased...... In the end I just prayed and thought 'the Lord knows what I need - if I need this card he'll get it for me. If not I won't' and yay

So peeps don't give up!!! Check your email

E

sebtomato

I must have been lucky, as I installed the Android App at around 6am on Wednesday morning, and then registered. All went through the first time, and I got a confirmation email right away.

In term of business model, I assume that they are not just collecting email addresses, phone numbers and credit card details as a business model.

Creating their backend software, various apps, and sending a card to people is not a negligible cost. If they had just wanted people's details, they would just have put a webpage together, asking people to pay £1 to receive a £5 M&S voucher for instance. They would have collected as much data for cheaper.

Having read the various topics on that card, I believe the Mastercard currency conversion rate is much better than the Visa one. Therefore, Visa is making a better profit margin on currency conversion (as it can surely access currencies at the same wholesale rate as Mastercard), and Travelex may have agreed a deal with Visa to get a cut of such margin...

dodgy

You say Travelex won't credit-check me. Why is that?

It's because it's not lending you any cash

They credit checked me:

14/05/2015 GB GROUP-TUXEDO MONEYPLUS LTD NC , a Financial Services company, has made an inquiry against your credit report on 13/05/2015

Ratison

Yep they make a £0.00 'charge' to the debit card you link up to to the app. Apparently as a way of authorising the card.

YorkshireBoy

dodgy wrote: »

They credit checked me:

More accurately they made an ID enquiry...a 'soft search' which won't be seen by other lenders. See section 3 (specifically condition 3.3) of the T&Cs.

amsquared

I emailed their support team on Wednesday morning because of the Submit problem on the iPhone app. I kept trying to register all day and got a variety of errors. However yesterday I got two emails the first was a reply to my complaint.

email reply

Thank you for writing to customer care.

We have noticed that the above mentioned eccount has been created in your name. Thus, the card would be delivered at the registered mailing address within 7 - 10 working days.

Should you require any further information then, please contact us on support@supercard.io

Then within minutes I got the second email stating:

Hello,
Thanks for signing up for Supercard, we’re delighted to have you on board. We're just sending a quick message to re-confirm that you have successfully registered for a Supercard!

We’ll be popping your personal Supercard in the mail – expect it through your letterbox shortly (you won’t need to be at home to sign for it).

Once you receive your card, follow the in-app instructions to activate it.

Don’t forget to use Supercard every time you spend money abroad. And you can track all your spending and savings instantly through the app, giving you total control of your travel spend.

It’s super-simple – but don’t just take our word for it, give it a go and see for yourself.
The Supercard team

Ballard

I tried to register scores, probably hundreds of times yesterday but kept getting the 'something's gone wrong' message. I completely shut down the app (swiped it from the screen on ios) and restarted it a couple of times. The last time I got the 'congratulations' screen which now has a picture of the card with my name on it. I've since received the 'it's on its way' email. I'd had no indication that I'd been succesful until I restarted the app.

Coincidentally I've just booked a long weekend in Belgium next month so I should be able to test it then.

I've previously looked at Travelex products but their rates weren't particularly good but I do have a soft spot for them as they sponsor The National Theatre which allows me to get most of my theatre tickets there for £15.