Pre-paid card company cashes in on Covid

conster_nation

Beware owners of Caxton pre-paid cards. Have your overseas holidays been cancelled due to Covid? Not been abroad in the last 12 months? Do you have credit on your Caxton pre-paid card? Then watch out as you could be about to liable for a monthly "Dormancy Fee", every month until your next foreign holiday. 
Does anyone know any ways to avoid the "Dormancy Fee", that don't involve paying a transaction charge or adding more money to the card?

D3xt3r5L4b

Is it part of the T’s and C’s of the card?

bradders1983

Surely adding a quid on (or whatever the bare minimum is) resets the clock.

Would hardly call it cashing in, it will be a term that existed before all of this.

conster_nation

Yes, it is in the T's and C's. 
"Account Management fee (applied every month if there have been no transactions, card loads or balance switches, in the previous 12 months) - £2.00"

bradders1983

So pay a quid onto it, unless you are going to miss £1 🤷‍♂️

jimbo26

Minimum load is £50

bradders1983

Well pay £50 on, suck up the £2 a month fee, spend something on it (can it be used for a sterling transaction in the UK? Go and buy a pint of milk) or close the account and reopen one when you go abroad again.

Those are your choices.  This term has hardly been put it recently to "cash in" 🙄

conster_nation

Nice idea and I'd do that if i could, unfortunately the minimum top up is £50. I'd prefer the £50 sat in my account rather than Caxton's, for now. 
But you've given me an idea, I could make an online 1euro donation to an overseas charity using the card. Does anyone see a reason why that wouldn't work? 

bradders1983

It should do but does the card not allow Sterling transactions in the UK?

conster_nation

In response to Covid they waived UK transaction charges up until 31 July, so it looks like there are currently UK transaction charges.

bradders1983

Yes just looking now, it says £1.50. That is still cheaper than one months fees for a dormant account, so if the charity thing doesnt work, that is the next best option.