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  • FIRST POST
    • MJaye
    • By MJaye 21st Jul 16, 3:38 PM
    • 33Posts
    • 0Thanks
    MJaye
    0 WOW
    Is the Caxton FX Pre-Paid card any good?
    • #1
    • 21st Jul 16, 3:38 PM
    0 WOW
    Is the Caxton FX Pre-Paid card any good? 21st Jul 16 at 3:38 PM
    Has anyone heard of the Caxton FX card? Is it anything to do with the Fair FX card?

    What's your opinion on it and is it any good in comparison to the ones recommended on the website like WeSwap and Revolut?

    Thanks
    MJaye
Page 1
    • Kernow666
    • By Kernow666 21st Jul 16, 4:09 PM
    • 3,354 Posts
    • 3,114 Thanks
    Kernow666
    • #2
    • 21st Jul 16, 4:09 PM
    • #2
    • 21st Jul 16, 4:09 PM
    http://www.reviewcentre.com/reviews97119.html


    https://uk.trustpilot.com/review/www.caxtonfx.com


    http://www.money.co.uk/prepaid-cards/card-issuers/Caxton-fx-Prepaid-Card.htm


    https://www.topcashback.co.uk/caxton_fx_prepaid_currency_cards/reviews
    "If I know I'm going crazy, I must not be insane"
    • Neil49
    • By Neil49 22nd Jul 16, 9:53 AM
    • 1,288 Posts
    • 628 Thanks
    Neil49
    • #3
    • 22nd Jul 16, 9:53 AM
    • #3
    • 22nd Jul 16, 9:53 AM
    I've used a Caxton card for many years and aside from a few glitches with their website and topping up it has been generally ok.

    I've had euro and $US loaded on and it has worked fine when abroad. I've had a look at some of the reviews suggested by Kernow and they look quite bad, however, a lot of the issues raised have been caused by people not understanding how they work and the strict controls imposed when topping up.

    If I was going to get a similar card now I wouldn't bother with this type of prepaid card unless you wanted a means of purchasing currency when you considered the rates to be competitive and were happy to leave the money on the account year after year. If you want something for a one off holiday then it is not worth the hassle.

    I've also noticed that their exchange rates aren't as competitive as they used to be. We recently went to Spain and we purchased cash from M&S at a better rate than Caxton were offering on the same day.

    To sum up, there are better options out there.
    • stingrayj
    • By stingrayj 22nd Jul 16, 9:57 AM
    • 83 Posts
    • 5 Thanks
    stingrayj
    • #4
    • 22nd Jul 16, 9:57 AM
    • #4
    • 22nd Jul 16, 9:57 AM
    always been very efficient. i've used one for five years or so, vg for ATM withdrawls. BUT I'm trying to find out how much they 'load' the exchange rate when you spend abroad. Can anyone help?
    • Neil49
    • By Neil49 22nd Jul 16, 11:32 PM
    • 1,288 Posts
    • 628 Thanks
    Neil49
    • #5
    • 22nd Jul 16, 11:32 PM
    • #5
    • 22nd Jul 16, 11:32 PM
    always been very efficient. i've used one for five years or so, vg for ATM withdrawls. BUT I'm trying to find out how much they 'load' the exchange rate when you spend abroad. Can anyone help?
    Originally posted by stingrayj
    I don't quite follow what you mean.

    If you spend 75 in a restaurant then that is what is debited from the euro balance on your account with Caxton, no more, no less. The only loading is when you add funds from your UK bank account which is converted to your chosen currency on your card. Even then, the rate they quote when you top up is the rate used. At that point in time you could calculate the markup.

    Similarly, if you withdraw 200 from an atm, that is what is debited from your balance.
    • sillygoose
    • By sillygoose 23rd Jul 16, 7:26 AM
    • 4,244 Posts
    • 5,672 Thanks
    sillygoose
    • #6
    • 23rd Jul 16, 7:26 AM
    • #6
    • 23rd Jul 16, 7:26 AM
    Same here used one for years, managing it via text messages was not bad but the app on my phone makes it a doddle. Mainly used in Greece where cash is better for paying for stuff. As cash machine withdrawals are free it saves having a bundle of cash to worry about as we just take out cash as we need it.
    Exchange rates are usually competive with main exchanges pre-order rates.
    I charged up mine with quite a lot just before the brexit vote so most my forthcoming holiday will be with euros bought at 1.31.
    For some reason MSE has something against it and doesn't ever mention it now in official articles but they used to, I don't think Caxton is such a bad deal it should be excluded so must be other reasons...
    .
    • eDicky
    • By eDicky 23rd Jul 16, 11:31 AM
    • 3,498 Posts
    • 1,688 Thanks
    eDicky
    • #7
    • 23rd Jul 16, 11:31 AM
    • #7
    • 23rd Jul 16, 11:31 AM
    For some reason MSE has something against it and doesn't ever mention it now in official articles but they used to, I don't think Caxton is such a bad deal it should be excluded so must be other reasons...
    .
    Originally posted by sillygoose
    Better / cheaper alternatives probably...
    • stingrayj
    • By stingrayj 26th Jul 16, 9:07 AM
    • 83 Posts
    • 5 Thanks
    stingrayj
    • #8
    • 26th Jul 16, 9:07 AM
    • #8
    • 26th Jul 16, 9:07 AM
    I don't quite follow what you mean.

    If you spend 75 in a restaurant then that is what is debited from the euro balance on your account with Caxton, no more, no less. The only loading is when you add funds from your UK bank account which is converted to your chosen currency on your card. Even then, the rate they quote when you top up is the rate used. At that point in time you could calculate the markup.

    Similarly, if you withdraw 200 from an atm, that is what is debited from your balance.
    Originally posted by Neil49
    I work across the world and always top up in sterling. When I say pay for a meal in Indonesia it's in rupiah, or in Vietnam it's in dong. Caxton load the exchange rate, but by how much?
    • eDicky
    • By eDicky 26th Jul 16, 9:43 AM
    • 3,498 Posts
    • 1,688 Thanks
    eDicky
    • #9
    • 26th Jul 16, 9:43 AM
    • #9
    • 26th Jul 16, 9:43 AM
    I work across the world and always top up in sterling. When I say pay for a meal in Indonesia it's in rupiah, or in Vietnam it's in dong. Caxton load the exchange rate, but by how much?
    Originally posted by stingrayj
    It's probably 2-3%. If they don't tell you in their T&Cs or a fees and limits page on their website, you can calculate it when using the card. Compare the rate you receive, the amount in GBP taken for a purchase in rupiah, for example, with the mid-market rate shown on xe.com at that time.
    • Doshwaster
    • By Doshwaster 26th Jul 16, 9:49 AM
    • 4,850 Posts
    • 3,971 Thanks
    Doshwaster
    I've been using the Caxton card for years without trouble. They used to have separate Dollar, Euro and Sterling cards but now you can store them all on the same one and switch balances between currencies online.

    I now use Clarity as my main overseas card but Caxton is a useful backup.
    • Browntoa
    • By Browntoa 26th Jul 16, 9:51 AM
    • 33,189 Posts
    • 39,099 Thanks
    Browntoa
    Ive swapped from this to supercard mainly to avoid having to preload
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • welshwiz
    • By welshwiz 6th Feb 18, 10:01 AM
    • 8 Posts
    • 1 Thanks
    welshwiz
    Caxton FX - Dont bother
    I had a Caxton FX card in 2015 and used it for foreign trips.

    When I returned home I had all sorts of problems with wrongly filed debits from my card as well as charges over and above the norm.

    Finally after about 4 annoying phone calls to Caxton FX (usually left in a queue for several minutes) , I decided to cancel my card as it was more hassle than it was good.

    That was in 2015 - I have since telephoned on 3 further occasions to ask why they keep sending/renewing my Caxton Fx card through the post, when my account was confirmed as cancelled in 2015?

    Today, telephoned yet again to ask why?

    Customer services could not explain why I had been sent yet another replacement card and seemed unable or unwilling to sort it out for me.

    My advice - stay well clear.
    • hamish63
    • By hamish63 8th Feb 18, 4:09 PM
    • 3 Posts
    • 0 Thanks
    hamish63
    Dont Trust Cards
    I used to use these pre loaded debit cards and thought they were brilliant then I was informed of the fact that you never really know what exchange rate you are getting. It seems that the rates of exchange they give vary depending on the time of day. For example if the provider (I was using a fair FX card, I believe at the time) is closed when you are overseas, loading the card, they increase their margin to cover the market fluctuations. I decided to ditch this in favour of a FX provider. I have a property in Portugal and as I have a bank account out there I use one of the lesser known providers, IFX ,who give amazing service and are attentive to my needs and requirements. I can even just park my money in their account to ensure easy access when I am overseas and no contact with my bank is then required either. I would recommend a move away from the cards and onto a bank to bank FX provider.
    • Neil49
    • By Neil49 11th Feb 18, 11:32 AM
    • 1,288 Posts
    • 628 Thanks
    Neil49
    I've had a Caxton prepaid card for many years but haven't bothered to use it for quite a while now as I find a combination of a Halifax Clarity card and my Monzo current account much more convenient.

    I'm presently in Australia and am using both of the above cards all the time and did the same in Hong Kong on the way out.

    If an exchange rate is particularly good for you and you want to lock into it then putting funds onto a Caxton card in advance is a way to achieve it but I am getting very good exchange rates with the above 2 cards and probably won't use Caxton again.
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