Prepaid Travel Cards

Janet_Dale

Anyone any ideas why the Easy FX card isn't mentioned on MoneysavingExpert?
Anyone got any experience, as it looks particularly good?:T

eDicky

I think you're mistaken. Have a search on the 'Flights, Currency and Car Hire' sub-board (where this should have been posted) for mention of EasyFX.

Oh... I guess you're probably spamming.

EDIT : I withdraw the above comments, i was getting EasyFX confused with another product that has a multitude of fees.

With a quick look at their website the rates are good and no apparent fees. However only certain currencies are supported - AUD, GBP, CAD, DKK, EUR, HKD, JPY, NOK, NZD, PLN, SEK, USD, ZAR. - and there's some curious statements such as 'your bank will probably charge you a fee to transfer money to your EasyFX account' - perhaps it's based outside UK.

Why not give it a try and tell us how it goes..?

JuicyJesus

Assuming this isn't spam, the reason is that what products MSE features are decided rather opaquely and based solely upon the judgment of MSE and its editors based on factors they and they alone decide. EasyFX could be great but MSE are not all that objective, more to the point they don't really promise (nor is it feasible) for them to be completely objective and take into account the wider market.

It's a bit silly sometimes. HSBC were offering a stonking balance transfer deal a while back that beat some of the ones MSE were bigging up on their page in terms of length of 0% offer, but they didn't mention it because... well, I don't actually know why to be honest.

I personally treat MSE's guides as just that and rely on my own research for other deals, plus actual comparison sites like MSE's owner MoneySupermarket.

Janet_Dale

I'm not quite understanding the questions about me spamming ??
Anyway, I understand that EasyFx has UK based offices.
I'm going to India, so will be loading the card with Sterling with the intention of withdrawing INRupees at ATM's whilst there.
I used Revolut last time I went to India, and it worked fine, but now you can only withdraw £200 per month. That'll be no good for me, as I'm going for two months.
Just thought someone may have tried them and have some feedback. Or alternatively, there could have been a good reason (i.e. poor feedback) why MSE hasn't included this offering.
Anyone out there with user experience, it'd be good to hear from you.
Thanks for your comments Juicy Jesus and eDicky.

JuicyJesus

The thing is there has, historically, been plenty of poor feedback about companies that MSE recommended - Santander being a key one, where their service was widely regarded as shocking for a period of time but which MSE consistently recommended as a best buy, latterly with caveats about the customer service levels. So, god only knows, really.

Like I say I don't tend to trust the MSE site as a reliable source of information in most regards anyway, either the news sections or the articles.

takman

Janet_Dale wrote: »

I'm not quite understanding the questions about me spamming ??
Anyway, I understand that EasyFx has UK based offices.
I'm going to India, so will be loading the card with Sterling with the intention of withdrawing INRupees at ATM's whilst there.
I used Revolut last time I went to India, and it worked fine, but now you can only withdraw £200 per month. That'll be no good for me, as I'm going for two months.
Just thought someone may have tried them and have some feedback. Or alternatively, there could have been a good reason (i.e. poor feedback) why MSE hasn't included this offering.
Anyone out there with user experience, it'd be good to hear from you.
Thanks for your comments Juicy Jesus and eDicky.

There are much better alternatives available such as a Starling Current account that allows you to spend and withdraw money abroad with an almost perfect exchange rate.

There is no point in getting a specialist card when you can get a current account that has more features and less fees.

eDicky

eDicky wrote: »

With a quick look at their website the rates are good

I thought it seemed too good to be true - there is lack of transparency, the spot rates shown are not what you get when you actually exchange or use the card, which have a spread usual for such FX services. How it would be with a currency such as INR needs to be checked, too laborious for me.

To avoid such rates and complication, better to stick to Revolut and cards that simply convert your pounds at the ideal MasterCard rates when used; Starling Bank, Monzo, Loot.io

Anthorn

takman wrote: »

There are much better alternatives available such as a Starling Current account that allows you to spend and withdraw money abroad with an almost perfect exchange rate.

There is no point in getting a specialist card when you can get a current account that has more features and less fees.

Oh here we go yet again: Someone posts about "Prepaid travel cards" (QUOTE) and full blown current accounts not to mention full-blown credit cards are recommended! Well you know, there are a myriad of reasons why certain people prefer a prepaid travel cards not least of which is they cannot get / don't want another current account or credit card. There is also the possibility of buying the prepaid travel card in advance when exchange rates are more favourable.

SnowTiger

Anthorn wrote: »

Oh here we go yet again: Someone posts about "Prepaid travel cards" (QUOTE) and full blown current accounts not to mention full-blown credit cards are recommended! Well you know, there are a myriad of reasons why certain people prefer a prepaid travel cards not least of which is they cannot get / don't want another current account or credit card. There is also the possibility of buying the prepaid travel card in advance when exchange rates are more favourable.

Are you still smarting from that rejection by Metro Bank?

takman

Anthorn wrote: »

Oh here we go yet again: Someone posts about "Prepaid travel cards" (QUOTE) and full blown current accounts not to mention full-blown credit cards are recommended! Well you know, there are a myriad of reasons why certain people prefer a prepaid travel cards not least of which is they cannot get / don't want another current account or credit card.

It's easier and quicker to apply for a current account using the Starling app than it is to get a prepaid card.

The simple fact is that specific current accounts/credit cards are the best way to spend money abroad because they offer the best exchange rates and no fees for withdrawals or spending.

These should be the first choice for anyone wanting to use a card abroad, by using pre-paid card you are effectively paying more for less so is should be a last resort.

Anthorn wrote: »

There is also the possibility of buying the prepaid travel card in advance when exchange rates are more favourable.

Like i have said before if you are able to predict what exchange rates will do over a period of time then you should be trading in forex because you will be able to make a lot of money very easily.

Your just as likely to buy at a time when the exchange rate is worse rather than better unless you research the market.

Also if you pre-buy currency your then locked into having that amount and if you buy to much you will either have to spend more than you wanted to use it up or have to change it back and loose money in the conversion so pre-buying is a bad idea.