Good bye Kalixa; hello KiTTi

Poptician

The 35p charge is for UK ATMs and when a non-KiTTi account holder (a Participant) pays into a KiTTi of an account holder (an Owner).

As far as I can see there are savings to be made with the new KiTTi card. Using an ATM abroad is the main one that springs to mind (was £2.25 with Kalixa, £1.50 with KiTTi).

The one fee that eludes me for now is the Foreign Exchange Fee of 1.5% on the Mastercard rate on the day of processing when used as a debit card abroad. I've no idea how this compares to Kalixa but will give it a try in France next week! Got £1.16 at the post office for my Euros so anything better than that will do as I love the convenience of the card.

SnowTiger

Poptician wrote: »

The 35p charge is for UK ATMs and when a non-KiTTi account holder (a Participant) pays into a KiTTi of an account holder (an Owner).

As far as I can see there are savings to be made with the new KiTTi card. Using an ATM abroad is the main one that springs to mind (was £2.25 with Kalixa, £1.50 with KiTTi).

The one fee that eludes me for now is the Foreign Exchange Fee of 1.5% on the Mastercard rate on the day of processing when used as a debit card abroad. I've no idea how this compares to Kalixa but will give it a try in France next week! Got £1.16 at the post office for my Euros so anything better than that will do as I love the convenience of the card.

Kalixa's fees are here.

The card uses Matercard's exchange rate, which is probably the best you can get. From the FAQ:

What are your Foreign Exchange Rates?

Unlike many card providers who take another banks exchange rate, then add a commission and/or foreign exchange fee. Kalixa sets its own market exchange rate – with no commission and no fees.

Kalixa also doesn’t charge transaction fees (excluding ATM withdrawals) so when you are spending abroad, you know exactly how far your money will go, no nasty surprises.

Click here to see our current Exchange Rates.

If you travel regularly to other European countries you should consider getting a Metro Bank account.

I've spent most of the past two years in (and around) the Philippines. My N&P and Halifax Clarity cards have saved me a (small) fortune.

redux

It's a shame they are closing it, as the exchange rate was better than certain fx cards mentioned around here. Even on cash withdrawals it beat one that has no ATM fee, provided the amount was more than about £70 equivalent.

I withdrew my balance by bank transfer, which arrived on Tuesday, 3rd working day.

I now have a credit card with no fx loading, so that will be for spending. Cash abroad, I'll think about later, but have some Euros for now anyway. KiTTi, I'll bear in mind, but don't see an immediate need for it.

SnowTiger

SnowTiger wrote: »

KiTTi [...] seems to be a solution looking for a problem to solve.

http://www.kitti.co.uk/

Santander and Kalixa were unable to find a problem for their solution, so they're killing off KiTTi.

http://www.kitti.co.uk/:

Following a review by Santander and Kalixa Payments Group, we’ve decided to close the KiTTi service. We’re sorry for any inconvenience this may cause but we want to explain what this means for you.

eDicky

uKash has the same demise next month. It's inevitable that prepaid cards with various fees are unable to compete against those with none, or basic bank account debit cards.

Anthorn

eDicky wrote: »

uKash has the same demise next month. It's inevitable that prepaid cards with various fees are unable to compete against those with none, or basic bank account debit cards.

Not true: Ukash was bought out by Skrill to extend that company some time ago in 2015. Ukash credit can still be transferred to a Paysafecard account.
https://www.paysafecard.com/en-gb/lp-products/ukash-welcome/?gclid=Cj0KEQiAzNfDBRD2xKrO4pSnnOkBEiQAbzzeQV9GIh3btCmQrXemAqig76Hf6UjS6iHPGShFZuUZcPsaAsYS8P8HAQ

There was quite some maneuvering most of it internal, connected with this mainly involving a takeover by Skrill which was then acquired by Optimal Payments PLC which changed its name to Paysafe Group PLC.

The inevitable fact is in fact (pun not intended) that financial companies will be bought out by other companies and then used to extend those company's main products. However some companies and'or services are just not financially viable to justify an acquisition, i.e. Kalixa and Kitti.

eDicky

Anthorn wrote: »

Not true: Ukash was bought out by Skrill to extend that company some time ago in 2015.

Well, according to MSE the UKash travel card will be closing next month:

http://www.moneysavingexpert.com/news/travel/2017/01/ukash-travel-cards-to-close-next-month

redux

As well as the above mergers, there may be some white labelling or other similar arrangements. My Revolut card number indicates that's it's issued by Optimal Payments.

Anthorn

eDicky wrote: »

Well, according to MSE the UKash travel card will be closing next month:

http://www.moneysavingexpert.com/news/travel/2017/01/ukash-travel-cards-to-close-next-month

There are three versions of Ukash, the prepaid Mastercard, the prepaid travel card and the Ukash account known for its vouchers and one is not the same as the other which is relevant but glossed over in the MSE article you link to.

MSE is not always correct nor up-to-date as I've previously pointed out in several posts. Strictly speaking Ukash is closing but in reality it's been acquired ... more than once in fact ... and Ukash account holders who have attempted to access their accounts over the last 18 months will have either moved to Paysafecard or closed their accounts.

But then again there is Rebel which is issued by PFS which used to be their Ukash Travel Mastercard and Ukash prepaid Mastercard. Confusing isn't it Where is the info on that from MSE? Perhaps it's a case of not being able to see beyond the end of its nose!
https://www.rebelprepaid.com/travelmoneycard/

redux

Anthorn wrote: »

MSE is not always correct nor up-to-date as I've previously pointed out in several posts.

MSE were far from experts on the subject. A while ago they kept recommending two other fx cards which had about 1.5 or 1.8% currency loading, while Kalixa had no margin at all.