Caxton Fx problems

London96 · 24 June 2015 at 11:25PM

Hi,
I am a new member of the forum, have been meaning to join for sometime as I have been using Martin Lewis' website for years.
I have been experiencing some significant problems with Caxton Fx in the last couple of months.
First the change to the new card which was carried out without sending customers any information, then removal of my linked debit card to load funds and the terrible, almost non existant customer service. Long waits to get through, operators that can't actually do anything when one finally gets through and promises of calls being returned that are never, ever followed through. The iPhone app has now stopped working, customers are voicing their anger through Apple app. reviews, on Facebook, and, as I did, over the phone with them but to no avail.
Does anyone know what may be going on? Are they going bust? I am surprised Martin and his team are not aware of this and have not run a story about it.
I, like many other people, have a fair amount of money on the card, having taken advantage of the strong Pound and am worried will loose it all.
Some customers seem to have tried to withdraw funds, but have not received the money.
Is anyone experiencing the same problems?
What should I do, try to withdraw the money and loose out on the conversion rate - assuiming I can get my money back?
Thanks so much to all those who'll take the time to reply.

The_stingemeister · 25 June 2015 at 1:30PM

Caxton are covered under the £85,000 compensation scheme (so don't worry). Don't know about customer service as all my transactions have always been on online.

ManAtHome · 25 June 2015 at 3:29PM

I'm still on my 'old' Caxton card - new one should be turning up next month. I have had a couple of emails about it (Feb and May I think). Have used current card a couple of times recently and cash appeared, correct amount docked from my account. Long time since I used c/s and tried/removed the android app as it didn't work consistently (being a bit generous there...).