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  • FIRST POST
    • JuliusCaesar
    • By JuliusCaesar 10th Apr 18, 2:11 PM
    • 44Posts
    • 47Thanks
    JuliusCaesar
    Using currency card as a mule
    • #1
    • 10th Apr 18, 2:11 PM
    Using currency card as a mule 10th Apr 18 at 2:11 PM
    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?
Page 1
    • The Urbanite
    • By The Urbanite 10th Apr 18, 9:05 PM
    • 132 Posts
    • 58 Thanks
    The Urbanite
    • #2
    • 10th Apr 18, 9:05 PM
    • #2
    • 10th Apr 18, 9:05 PM
    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.
    • JuliusCaesar
    • By JuliusCaesar 10th Apr 18, 10:29 PM
    • 44 Posts
    • 47 Thanks
    JuliusCaesar
    • #3
    • 10th Apr 18, 10:29 PM
    • #3
    • 10th Apr 18, 10:29 PM
    Yes, but surely if you only do it once and don't need the card for travel it doesn't matter.
    • The Urbanite
    • By The Urbanite 11th Apr 18, 1:21 PM
    • 132 Posts
    • 58 Thanks
    The Urbanite
    • #4
    • 11th Apr 18, 1:21 PM
    • #4
    • 11th Apr 18, 1:21 PM
    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.
    • charliehelyes
    • By charliehelyes 13th May 18, 8:52 PM
    • 9 Posts
    • 1 Thanks
    charliehelyes
    • #5
    • 13th May 18, 8:52 PM
    • #5
    • 13th May 18, 8:52 PM
    they will treat the transaction as a 'cash' transaction and you will pay the normal cash fees not the promotional rate.
    • No_6
    • By No_6 13th May 18, 10:03 PM
    • 662 Posts
    • 139 Thanks
    No_6
    • #6
    • 13th May 18, 10:03 PM
    • #6
    • 13th May 18, 10:03 PM
    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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