Loading a Fairfx currency card from a Barclaycard

freeofdebt1

Hi,
Can you advise me please. I have a credit card limit of £5000 (Barclaycard), I have a cash limit on it of £750, I wish to purchase some euros on it through FairFX approx. 1200 -1500 euros. (Prepaid currency card) As my cash limit is £750 can I load 1200 euros on the fairfx or will Barclays limit it up to £750 only?
Thanks

eDicky

I can't answer your exact question, but don't forget Barclaycard's cash transaction fee, interest from day one, the FairFX 2.5% fee for loading from a credit card and their less than ideal exchange rate.

grumbler

https://www.fairfx.com/faq#What%20type%20of%20debit/credit%20cards%20do%20you%20accept?

If you use a credit card to purchase from us, we charge you a 2.5% purchase fee and your credit card provider is likely to charge a cash transaction fee which attracts interest straight away. Therefore, you may wish to use one of our alternative payment methods.

If the transaction is processed as a cash advance, all fees and restrictions apply.

Does it really make sense to pay 2.5% plus ~3% cash advance fee to save on currency conversion? If you pay by Barclaycard directly it will cost you just ~3% for the conversion.

chattychappy

Yes, indeed. Barclaycard is by no means bad for drawing forex. Used in foreign ATMs, you will pay 3% for the conversion, but no fees after that. They treat it rather like a purchase in that you can get up to 56 days interest free.