Caxton card

Katykat

Ive just used my Caxton card for the first time in Spain. All was OK, but I didnt spend all the euros that I topped it up with. I tried to find out from the site if I could transfer it back into my bank account but couldnt find the information. I ended up converting it back into GBP and spending some of it in ASDA but there is still some left on it. Does anyone know if there is a way to pay it back into my bank?

EveryWhere

Ask them to do it for you. It will cost you to convert it back to Pounds either way. Plus there will be a fee. Via ATM or if they do it.

Katykat

Thanks Everywhere. They didnt charge me a fee, plus I dont think there was a charge to convert it back to pounds. Its just that there didnt seem to be a way to pay it back into my bank.

EveryWhere

Katykat wrote: »

Thanks Everywhere. They didnt charge me a fee, plus I dont think there was a charge to convert it back to pounds. Its just that there didnt seem to be a way to pay it back into my bank.

Of course there is a charge to convert it back into £s. What exchange rate did they use? There also used to be a £1.50 charge for redemption. Perhaps they have removed that.

eDicky

Will you never use euros again..?

There is always unnecessary expense and hassle in using such a card that changes currency in advance. It's better to keep your money in pounds until transaction at the best rates with a fee-free card such as Starling Bank or one of the 'travel' credit cards.

Katykat

EveryWhere wrote: »

Of course there is a charge to convert it back into £s. What exchange rate did they use? There also used to be a £1.50 charge for redemption. Perhaps they have removed that.

The exchange rate at the point i used it was €1.109. I used it to pay for goods/ resturants etc, as I would use a normal credit card. To answer edickey, I did take some euros to use for coffees etc, which I bought over here at a rate of €1.11, so not a great deal of difference. Incidently, I did use my Nationwide credit card once and got a rate of €1.12, with no charges so thats a better option. Im not sure Im totally enamoured of travel cards, Caxton charged my travel companions €5 to withdraw cash at a bank, but it did seem like a safe option at the time. I might review my travel money options.

NoodleDoodleMan

The exchange rate at the point i used it was €1.109. I used it to pay for goods/ resturants etc, as I would use a normal credit card

Caxton FX in practice is essentially a debit card, not a credit card.

Im not sure Im totally enamoured of travel cards, Caxton charged my travel companions €5 to withdraw cash at a bank, but it did seem like a safe option at the time. I might review my travel money options.

I'm thinking that would be the bank applying such a charge, not Caxton.

This is a decent review of the card.

https://www.finder.com/uk/caxton-fx-review

Notice that there is an "over the counter cash" fee of £4.50 plus 2% of the amount taken - perhaps that is where the above £5 charge was applied ?

Katykat

Thanks Noodledoodleman. Ive read the review. It is a fair review. Im not inclined to open a Starling account as it adds an extra layer to my banking, at a time that I am trying to simplify things. Im not even sure about Caxton. The reason I got is, is I travel regularly to Australia. My next trip, Im also stopping off in Dubai and Singapore so rather than either changing multiple currencies, or incurring Nationwide debit card fees, I got Caxton. Now that I know more about the fees, Im not sure it has a great enough advantage than my debit card. On past trips, Ive used my Nationwide credit card for purchases ( no charges and usually a better exchange rate ) and swopped some £s for Aus $s with relatives. Using my debit card only when the cash runs out. This has worked well for me.

NoodleDoodleMan

We have a Starling debit card - I would thoroughly recommend it for travelling, it's not ML's top pick for no reason !!!

Download the app to a 'phone or tablet (I use my mini iPad) - it's so easy to use, gives an instant message when funds are loaded and keeps track of your balance and daily spends, transaction by transaction, and you can check on screen immediately

It can be used as a regular debit card back home as well - what's not to like ?