Is the Caxton FX Pre-Paid card any good?

welshwiz

I had a Caxton FX card in 2015 and used it for foreign trips.

When I returned home I had all sorts of problems with wrongly filed debits from my card as well as charges over and above the norm.

Finally after about 4 annoying phone calls to Caxton FX (usually left in a queue for several minutes) , I decided to cancel my card as it was more hassle than it was good.

That was in 2015 - I have since telephoned on 3 further occasions to ask why they keep sending/renewing my Caxton Fx card through the post, when my account was confirmed as cancelled in 2015?

Today, telephoned yet again to ask why?

Customer services could not explain why I had been sent yet another replacement card and seemed unable or unwilling to sort it out for me.

My advice - stay well clear.:mad:

hamish63

I used to use these pre loaded debit cards and thought they were brilliant then I was informed of the fact that you never really know what exchange rate you are getting. It seems that the rates of exchange they give vary depending on the time of day. For example if the provider (I was using a fair FX card, I believe at the time) is closed when you are overseas, loading the card, they increase their margin to cover the market fluctuations. I decided to ditch this in favour of a FX provider. I have a property in Portugal and as I have a bank account out there I use one of the lesser known providers, IFX ,who give amazing service and are attentive to my needs and requirements. I can even just park my money in their account to ensure easy access when I am overseas and no contact with my bank is then required either. I would recommend a move away from the cards and onto a bank to bank FX provider.

Neil49

I've had a Caxton prepaid card for many years but haven't bothered to use it for quite a while now as I find a combination of a Halifax Clarity card and my Monzo current account much more convenient.

I'm presently in Australia and am using both of the above cards all the time and did the same in Hong Kong on the way out.

If an exchange rate is particularly good for you and you want to lock into it then putting funds onto a Caxton card in advance is a way to achieve it but I am getting very good exchange rates with the above 2 cards and probably won't use Caxton again.

Purpleronnie

So my boyfriend has this Caxton FX card and we have used it for a few years with no issues. This trip to Lanzarote we loaded the card with 800€ and on 2 separate occasions we withdrew 200€. We have checked the balance on the card this morning and we can see it is now only 340€ - why have we been charged 60€ ?

We tried with the conversion rate and without (we can never remember which is the better!)

Can anybody advise what this charge is for?

EveryWhere

Purpleronnie wrote: »

So my boyfriend has this Caxton FX card and we have used it for a few years with no issues. This trip to Lanzarote we loaded the card with 800€ and on 2 separate occasions we withdrew 200€. We have checked the balance on the card this morning and we can see it is now only 340€ - why have we been charged 60€ ?

We tried with the conversion rate and without (we can never remember which is the better!)

Can anybody advise what this charge is for?

Ask Caxton and then get back to us with their reply.

BoGoF

Does the app not show what has been debited?

eDicky

Purpleronnie wrote: »

We tried with the conversion rate and without (we can never remember which is the better!)

What conversion rate? Your money on the card was already in euros.

If you accepted 'Conversion' by the ATM (which you should never do), your euros would be converted to pounds by Caxton them back to euros by the ATM, resulting in such a loss overall.

How does Caxton identify the €60 on your account?