Using currency card as a mule

The abolition of fees on credit cards has opened up the possibility of using a currency card as a mule card.

If you get a purchase credit card with long interest-free credit period, you could spend the maximum amount on topping up a foreign currency card such as a FairFX card. Such cards then allow you to transfer the full amount into a bank account for a £5 fee, which could then be invested in an interest-paying account.

Has anyone tried this?


  • Using a prepaid card aimed at the travel market for things like this will likely get your account shut down and possibly blacklisted by the emoney issuer.
  • Yes, but surely if you only do it once and don't need the card for travel it doesn't matter.
  • It's at your own risk.

    Also be aware that topping up prepaid cards may well attract cash advance fees and interest. I've done a wealth of R&D in this area and concluded there are better, free ways to rip credit off 0% cards and deposit into a current account.
  • they will treat the transaction as a 'cash' transaction and you will pay the normal cash fees not the promotional rate.
  • No_6
    No_6 Posts: 835
    First Anniversary Combo Breaker
    Tesco don't apply fees to get euros on their credit card, they treat it as a purchase.
    AND if it's on a 0% purchase rate for x amount of months


    just found out mine is :) just about to go on hols :)
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