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  • FIRST POST
    • Grandmama
    • By Grandmama 20th Sep 19, 4:28 PM
    • 115Posts
    • 183Thanks
    Grandmama
    0 WOW
    Thomas cook prepaid MasterCard
    • #1
    • 20th Sep 19, 4:28 PM
    0 WOW
    Thomas cook prepaid MasterCard 20th Sep 19 at 4:28 PM
    I have a pre paid Thomas cook MasterCard with quite a few euros on it. If Thomas cook goes under will I lose my euros or are they safe?
Page 2
    • eDicky
    • By eDicky 25th Sep 19, 6:54 PM
    • 4,934 Posts
    • 3,033 Thanks
    eDicky
    I'll be getting a Caxton card instead.
    Originally posted by dleafy
    Having experienced its adverse rates and fees and finally rid yourself of the TC card, why replace it with one that's only marginally better instead of using the modern fee-free solutions of keeping your funds in pounds until the time of foreign transaction, such as with Starling Bank..?
    • EveryWhere
    • By EveryWhere 25th Sep 19, 8:08 PM
    • 2,840 Posts
    • 1,404 Thanks
    EveryWhere
    I've got a one. It had $1200 and Ä200. I converted it to GBP.
    I took £500 out at the ATM yesteday and £500 today. I've added £28.46 today to make the total left £101.50. I'll be taking the final £100 out tomorrow. (it costs £1.50 per time to use a UK ATM).
    I'm told that there was no need to, but I just feel safer changing to a card that doesn't have Thomas Cook emblazened on the front when I go to Miami in 2 weeks. I'll be getting a Caxton card instead.
    Originally posted by dleafy
    You only threw £85 away. I would have used it to fund a Revolut account, if possible and lost nothing.
    • dleafy
    • By dleafy 25th Sep 19, 8:10 PM
    • 122 Posts
    • 12 Thanks
    dleafy
    Maybe I should, but to be honest, Iím just looking for something thatís easy to use, easy to access and safe.
    I had my TC cash passport for over ten years and never had a problem. When I look at people championing different cards because they offer a 0.05% better rate, I just wonder whether itís gonna make that much difference to the , maybe £1200 per year I load on.
    Iím even toying with getting the post office card.
    • EveryWhere
    • By EveryWhere 25th Sep 19, 8:25 PM
    • 2,840 Posts
    • 1,404 Thanks
    EveryWhere
    Maybe I should, but to be honest, Iím just looking for something thatís easy to use, easy to access and safe.
    I had my TC cash passport for over ten years and never had a problem. When I look at people championing different cards because they offer a 0.05% better rate, I just wonder whether itís gonna make that much difference to the , maybe £1200 per year I load on.
    Iím even toying with getting the post office card.
    Originally posted by dleafy
    Losing £85 is not 0.05%. But it's your money. I guess if you don't understand that by now, nothing we say now is going to make a difference.
    In fact your card usually charges a minimum of 2% for the exchange, plus you had extra ATM withdrawal charges.

    If you used a card such as Revolut, you could have changed your Pounds to Euros or US dollars, at the full Spot rate. So saving at least £24 straight away.

    Then, as you have found out to your cost, your card charges you 5.75% to convert your Dollars and Euros to any other currency, including back to Pounds. Losing another £85.

    With Revolut, it costs you nothing to re-convert.
    • dleafy
    • By dleafy 25th Sep 19, 9:15 PM
    • 122 Posts
    • 12 Thanks
    dleafy
    I’ll check out Revolut.
    Fortunately, losing what I’ve lost isn’t an issue.
    • EveryWhere
    • By EveryWhere 25th Sep 19, 10:46 PM
    • 2,840 Posts
    • 1,404 Thanks
    EveryWhere
    I’ll check out Revolut.
    Fortunately, losing what I’ve lost isn’t an issue.
    Originally posted by dleafy
    Revolut is just a tool. I don't really use it for travel. But it was perfect for those who wanted to stock up on US$ and €. You can buy and sell at the spot rate.
    The only reason to stock up on other currencies, is if you think the value of the Pound is going to fall.
    Otherwise best to just use Starling Bank's debit card.
    In the case of Revolut you can change your Pounds to US$ or Euros. Then when you are ready to go on holiday, perhaps to a country that doesn't use US$ or Euros, you can change back to Pounds(now having more than which you began) and send to your Starling Bank account for use with the Starling card.

    So in your case, now that they have already ruined the value of the currency, https://www.starlingbank.com/travel/ is the best travel card for you.
    • eDicky
    • By eDicky 26th Sep 19, 5:58 AM
    • 4,934 Posts
    • 3,033 Thanks
    eDicky
    Maybe I should, but to be honest, Iím just looking for something thatís easy to use, easy to access and safe.
    I had my TC cash passport for over ten years and never had a problem. When I look at people championing different cards because they offer a 0.05% better rate, I just wonder whether itís gonna make that much difference to the , maybe £1200 per year I load on.
    Iím even toying with getting the post office card.
    Originally posted by dleafy
    Cost wise, the Post Office Travel Money Card is probably the worst choice you could make. Using the same cards that you normally use in the UK would be cheaper, even with their fees for overseas use, so if you're not concerned with a bit of cost and 'looking for something thatís easy to use, easy to access and safe', why look any further than your own wallet..?

    The common idea that you need to obtain 'currency' in advance is a bit of a con these days, fostered by companies to make money out of you. But if you insist on using such a card, there's a £35 bonus on loading a new FairFX card with £500 via the MSE link:

    https://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards/
    • photome
    • By photome 26th Sep 19, 6:17 AM
    • 14,231 Posts
    • 9,739 Thanks
    photome
    I had a similar debate with someone on a lasvegas facebook group, re , using Starling,Revolut etc.


    they still insisted they were right and that buying dollars in advance in the UK was the best way.


    fools and their money
    • dleafy
    • By dleafy 26th Sep 19, 8:17 AM
    • 122 Posts
    • 12 Thanks
    dleafy
    As always, some excellent advice and debate.
    Finance wise, I’m in the fortunate position where I could simply use my debit card abroad. Certainly taking $500 at a time out of an ATM isn’t gonna break the bank.
    The thing is, I just like the idea of loading a card over a few months before a holiday.
    It kinda seems like you’re not spending your own money when you go on holiday..... if you know what I mean?
    Since I got my cash passport many years ago, debates have raged on many forums about which is the best card to use. One of the top names that always got mentioned in a positive light is the Caxton card.
    I think I’ll just go for one of those as it does everything I want a card to do.
    I do realise that financially, there may be better alternatives out there if I was watching the pennies though!

    Cheers
    Davy !!!
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