Caxton FX Card - Total Con

supastar42

Caxton FX send an email on Friday for a fixed rate deal for the weekend until midnight Sunday 29th. As follows;

Special rate offer for a limited period

We are offering special rates to our customers until Sunday; so if you’re heading abroad this winter, now could be a great time to lock into our enhanced exchange rates.

You only have until midnight on Sunday 29th November 2015 to take advantage of these special rates so log in and load your card now.

Kind regards

Caxton FX
US dollar
Dollar rate: £1= $1.4900*
euro
Euro rate: £1 = €1.4020*

But when you try to take advantage, they say they got the English wrong and that the current rate prevails all the time. The 'English' seems pretty plain to me.

What redress could I obtain?

SnowTiger

supastar42 wrote: »

Caxton FX
US dollar
Dollar rate: £1= $1.4900*
euro
Euro rate: £1 = €1.4020*

But when you try to take advantage, they say they got the English wrong and that the current rate prevails all the time. The 'English' seems pretty plain to me.

What redress could I obtain?

You can report them to the ASA (Advertising Standards Authority).

However, all they'll do is tell Caxton not to do it again.

eskbanker

supastar42 wrote: »

Caxton FX
US dollar
Dollar rate: £1= $1.4900*
euro
Euro rate: £1 = €1.4020*

But when you try to take advantage, they say they got the English wrong and that the current rate prevails all the time. The 'English' seems pretty plain to me.

What redress could I obtain?

What did the asterisked footnote say?

The currently published prevailing rates are still very close to those - $1.4829 is 99.5% of the quoted rate and €1.4000 is 99.86% - but not identical, so if they explicitly committed in writing to a fixed rate then complain to them at https://www.caxtonfx.com/complaints and hold them to account. They may not actually admit liability but I'd have thought that they should be prepared to make some sort of compensatory gesture....

chuckley

are you arguing over the .20 on the euro, e.g?

I just logged in and it's displaying 1.40 to load euro...
Or am I misreading the post?

eskbanker

I think OP's beef is more about the principle of not honouring a fixed rate offer rather than the size of the gap between that and the current spot rate.

Whether that actually warrants a thread title of "Caxton FX Card - Total Con" (as opposed to, say, "Caxton refuses to honour fixed rate offer") is another matter!

Mikhail

try https://revolut.com/