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  • FIRST POST
    • Chantelle2018
    • By Chantelle2018 4th Mar 18, 8:07 PM
    • 2Posts
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    Chantelle2018
    0 WOW
    Pre Paid Currency Cards
    • #1
    • 4th Mar 18, 8:07 PM
    0 WOW
    Pre Paid Currency Cards 4th Mar 18 at 8:07 PM
    Hi all

    I need some advice on currency cards.

    We are travelling to Florida soon and have been looking into these as I don't like the idea of carrying lots of cash around with us when we are at the parks etc.

    I have been looking at the Post Office and Travelex cards but I keep seeing mixed reviews. We favour the Travelex one more, due to the free ATM cash withdrawals whilst we are over there.

    Can anyone who has visited FL and used a card, please give me some advice?

    Thanks in advance :-)
Page 1
    • eDicky
    • By eDicky 4th Mar 18, 8:56 PM
    • 3,396 Posts
    • 1,609 Thanks
    eDicky
    • #2
    • 4th Mar 18, 8:56 PM
    • #2
    • 4th Mar 18, 8:56 PM
    Such cards that you need to 'load' with dollars at less than ideal rates can cost you almost as much as, or more than (PO), simply using your bank debit card. Instead look at the cards that exchange your pounds at perfect rates at the time of using them:


    https://www.starlingbank.com/

    https://monzo.com/

    https://loot.io/

    https://www.revolut.com/

    Take more than one, any card can sometimes be declined or lost etc. Note that most ATMs there will charge a few dollars per withdrawal, but nearly everything can be paid for by card.
    • Chantelle2018
    • By Chantelle2018 5th Mar 18, 6:34 PM
    • 2 Posts
    • 1 Thanks
    Chantelle2018
    • #3
    • 5th Mar 18, 6:34 PM
    • #3
    • 5th Mar 18, 6:34 PM
    Thanks guys, I shall have a look into these! Creditcardjunkie we go in May too :-D
    • PeacefulWaters
    • By PeacefulWaters 5th Mar 18, 9:47 PM
    • 8,320 Posts
    • 10,636 Thanks
    PeacefulWaters
    • #4
    • 5th Mar 18, 9:47 PM
    • #4
    • 5th Mar 18, 9:47 PM
    Haven't been to Florida (actually going in may) but was in Vegas in 2015 and used a Caxton card as recommended by a relative. My partner and I had one each and had no issues. I would recommend.
    Originally posted by CreditCardJunkie
    And based on 2018 exchange rates and charges against other cards, what do you think?
    • Neil49
    • By Neil49 6th Mar 18, 9:39 AM
    • 1,275 Posts
    • 622 Thanks
    Neil49
    • #5
    • 6th Mar 18, 9:39 AM
    • #5
    • 6th Mar 18, 9:39 AM
    Such cards that you need to 'load' with dollars at less than ideal rates can cost you almost as much as, or more than (PO), simply using your bank debit card. Instead look at the cards that exchange your pounds at perfect rates at the time of using them:


    https://www.starlingbank.com/

    https://monzo.com/

    https://loot.io/

    https://www.revolut.com/

    Take more than one, any card can sometimes be declined or lost etc. Note that most ATMs there will charge a few dollars per withdrawal, but nearly everything can be paid for by card.
    Originally posted by eDicky
    I totally agree with eDicky.

    We were in Vegas and California in October and used a Halifax Clarity credit card for cash withdrawals and larger purchases and a Monzo current account (debit) card for day to day use. Both are based in so it's the exchange rate of the day that is applied but both use one of the best rates going.

    The Monzo (and Starling) account is linked to your smartphone. Transactions appear on your phone in about a second (assuming you have a data connection) so you can keep track of your expenditure and also ensure you aren't being ripped off.

    Most banks charge around $3 for an atm withdrawal so take out larger amounts at a time. Although Halifax charge interest on cash withdrawals from the moment you get the money the interest charge for us was less than 1. Some people suggest going online and transferring funds straight away to Halifax to minimise the interest charge.

    I've also got a Caxton prepaid card but don't use it anymore due to the poorer rate of exchange. It is useful if the rate is particularly good and you want to lock into it, but rates can go up and down so you take your choice.

    Have a good holiday.
    • eDicky
    • By eDicky 6th Mar 18, 9:58 AM
    • 3,396 Posts
    • 1,609 Thanks
    eDicky
    • #6
    • 6th Mar 18, 9:58 AM
    • #6
    • 6th Mar 18, 9:58 AM
    Haven't been to Florida (actually going in may) but was in Vegas in 2015 and used a Caxton card as recommended by a relative. My partner and I had one each and had no issues. I would recommend.
    Originally posted by CreditCardJunkie
    If you look at the rates Caxton are giving for their card today compared to the mid-market rate shown on xe.com you will see that the cost of using it is quite substantial, hardly less than just using many a bank debit card while travelling.

    https://www.caxtonfx.com/currency-cards/exchange-rates/

    Perhaps do your relative a favour in turn by recommending the current best choices that give near enough the mid-rate conversion with zero fees.
    • PeacefulWaters
    • By PeacefulWaters 9th Mar 18, 12:49 AM
    • 8,320 Posts
    • 10,636 Thanks
    PeacefulWaters
    • #7
    • 9th Mar 18, 12:49 AM
    • #7
    • 9th Mar 18, 12:49 AM
    Peaceful waters I think it's much less risky than tempting yourself into debt with credit cards. I'll be applying for a mortgage soon so don't want another credit card on my file. The rate is only a fraction different than what Thomas cook offer, so for me this is the best option.

    Edicky when you're only taking 2k spending money it isn't a huge amount of difference

    Thomas cook are offering 1.3639 Caxton 1.3497....no one is right or wrong here everyone does what is best for their situation.
    Originally posted by CreditCardJunkie
    eDicky highlights four non-credit card options that offer better value than your suggestion.
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