Prepaid Travel Cards guide

dj1471

Rusty101 wrote: »

Hello, I used a Sainsbury Multi Currency Cash Passport for the first time this year. It is set up in Euros, but I have been charged Currency Conversion Fees for withdrawing Euros, and also very high fees for using ATMS. I am also having difficulty with the so called "help line" to query these charges. Has anyone any tips/advice, other than not to use this card in future?

A quick look suggests that there are no ATM fees, these were presumably charged by the ATM operator. What country were you in?

Foreign exchange fees... Did you allow the ATMs to perform the currency conversions by any chance? If so, you've really been screwed - you received a poor exchange rate then the card was billed in GBP rather than Euros, for which Sainsbury's charge 5.75% above the MasterCard rate... You probably paid around 10% on each transaction :eek:

Rusty101

I was in Germany. It was not clear that the ATM was carrying out a currency conversion. It did show a rate but rejecting it just cancelled the whole transaction and I needed to get cash. Two different cities and 2 random ATMs. Yes - 10% on each transaction. I had a Post Office money card previously and was charged 2 Euros per transaction but it had expired and the Sainsbury one was the only option at the last minute.
I am cross with myself for letting myself be duped like this and would warn others to be aware of the pitfalls. Not sure if this is specific to Sainsbury's card or if it is a general thing. And just for the record the Sainsbury helpline is anything but helpful! Thankfully I didn't have to use it while I was abroad.

eDicky

Rusty101 wrote: »

I was in Germany. It was not clear that the ATM was carrying out a currency conversion. It did show a rate but rejecting it just cancelled the whole transaction

I think it would be so far unheard of if there was in fact no option to proceed 'without conversion' by the ATM, although it is often cleverly obscured.

The effect of your mistake is extreme because the ATM detected a UK issued card and offered conversion, but you already had euros loaded so they were first exchanged to pounds (by Sainsbury), then back again. I don't think there's any point in contacting and complaining to Sainsbury about this.

The legal financial scam of DCC (Dynamic Currency Conversion) was described in the main news bulletins on BBC Radio 4 yesterday (perhaps also elsewhere), with estimation of how many millions of pounds it costs British travelers annually who make the wrong choice at payment terminals and ATMs.

Choose better cards for next time, and be sure to avoid DCC.

Rusty101

Many thanks for the helpful reply. I will have to put it down to bitter experience and will be better prepared next year. Not sure how to spot "rogue" ATMs though. My partner and I both read the screens and couldn't see any option to proceed without conversion, and we read the german and english text.
I hope my experience helps someone else,
Thanks again.

dj1471

I recall that ATMs in Germany do give the impression that conversion is unavoidable, but you can decline. I've only once encountered an ATM which really didn't give me the option (Travelex ATM in JFK departures airside - impossible to withdraw USD without conversion).

Personally I would complain to Sainsbury's about this, they may be willing to refund their conversion fees as a goodwill gesture. It costs you nothing to ask and you may be able to claw a little money back...

Rusty101

Thank you - I will ask them.

admiral_traveller

Hi there,
I have a Monzo card and am planning on using it in Spain. I have recently booked a hotel which needs paying for when I check-in and I was planning on using my credit card for this (but I only have a normal Barclaycard - probably one of Martin's cards from hell!). The Monzo card sounds like a better option for me to use for the hotel payment - although I would worry that I would lose any additional protection that the Barclaycard would offer me. Could anyone offer some advice please?
Also, I understand that there is a maximum of £1000 limit for ATM withdrawls per month with Monzo - but am hoping there is no other spending limit?
Thanks

Gloomendoom

A normal Barclaycard will cost you, but it isn't actually that bad. If you can get hold of a Barclaycard Travel credit card and used that, it wouldn't cost you anything.

timce

Can I order a revolut card for someone else

DeeDog2149

I am flying out on Sunday and worried about carrying cash but, after trawling through these threads, I am torn and even more confused!! Should I bother to get one (I am already with Utilities Warehouse but that option seems risky) and worry that it won't be accepted in bars and restaurants or be anxious that it won't arrive on time? Sorry if this post is going over old ground, but I am not sure about which to go with - if at all!
Many thanks for all your help. (I don't live in London).