Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • AdyTay
    • By AdyTay 9th Aug 18, 11:05 AM
    • 3Posts
    • 0Thanks
    AdyTay
    0 WOW
    Post Office Travel Money Card
    • #1
    • 9th Aug 18, 11:05 AM
    0 WOW
    Post Office Travel Money Card 9th Aug 18 at 11:05 AM
    What a rip-off.

    Firstly the rate you get isn't what's advertised online, Advertised rate is for new card, initial loads, although it does mention this anywhere. On the day we transferred money to our card, we would have gotten a better rate by going into the Post Office rather than going on-line?

    Secondly, we brought a Euro card, loaded with Euro's, as there are no fees for using when abroad and supposed to only be charged 2.95 at ATM for obtaining cash. We selected and withdrew Euro's from an ATM and have been charged 36 on 300 (12%).

    WE SELECTED EUROS ON A EURO CARD, WHY THE CHARGES. DO NOT USE THIS COMPANY.
Page 1
    • tacpot12
    • By tacpot12 9th Aug 18, 12:21 PM
    • 1,641 Posts
    • 1,397 Thanks
    tacpot12
    • #2
    • 9th Aug 18, 12:21 PM
    • #2
    • 9th Aug 18, 12:21 PM
    Have you asked the Post Office why you were charged?

    I have a Post Office Travel Money card and used this to withdraw Euros at an ATM in Spain a couple of weeks ago and was only charged 1.8 Euros, which is the charge made by the ATM Operator for all cards. I've been pleased with the card as it allows you to buy your holiday currency when the exchange rate is favourable, and the top-up process does tell you the exchange rate that you are being offered.
    • eDicky
    • By eDicky 9th Aug 18, 1:56 PM
    • 4,008 Posts
    • 2,141 Thanks
    eDicky
    • #3
    • 9th Aug 18, 1:56 PM
    • #3
    • 9th Aug 18, 1:56 PM
    We selected and withdrew Euro's from an ATM and have been charged 36 on 300 (12%).
    Originally posted by AdyTay
    How was this charge billed to you?

    It seems likely that you agreed to conversion by the ATM, at their rate, after your card was detected as UK issued. If so the euros on your card were converted to pounds and then back to euros.
    I've been pleased with the card as it allows you to buy your holiday currency when the exchange rate is favourable
    Originally posted by tacpot12
    Are you really able to predict which way exchange rates will go? You can have a brilliant career in forex..!

    The Post Office Travel Money Card is about the worst choice anyone can make for travel money, with their lousy exchange rates and fees. It would almost certainly be cheaper to use your regular bank debit card overseas.

    Stay away from the Post Office, supermarkets and travel agents for cards (or cash), keep your money in pounds until conversion at ideal rates without fees at the time of transaction using cards from Starling Bank, Monzo, Metro Bank (Europe only), Revolut or Loot.io - or the various 'travel' credit cards of course.
    • EveryWhere
    • By EveryWhere 9th Aug 18, 4:36 PM
    • 1,033 Posts
    • 495 Thanks
    EveryWhere
    • #4
    • 9th Aug 18, 4:36 PM
    • #4
    • 9th Aug 18, 4:36 PM
    How was this charge billed to you?

    It seems likely that you agreed to conversion by the ATM, at their rate, after your card was detected as UK issued. If so the euros on your card were converted to pounds and then back to euros.
    Are you really able to predict which way exchange rates will go? You can have a brilliant career in forex..!

    The Post Office Travel Money Card is about the worst choice anyone can make for travel money, with their lousy exchange rates and fees. It would almost certainly be cheaper to use your regular bank debit card overseas.

    Stay away from the Post Office, supermarkets and travel agents for cards (or cash), keep your money in pounds until conversion at ideal rates without fees at the time of transaction using cards from Starling Bank, Monzo, Metro Bank (Europe only), Revolut or Loot.io - or the various 'travel' credit cards of course.
    Originally posted by eDicky
    Apart from the Post Office Money Platinum Credit Card which is useful for purchases abroad. Especially if you need to spread out the cost of a holiday.
    • eDicky
    • By eDicky 10th Aug 18, 7:12 AM
    • 4,008 Posts
    • 2,141 Thanks
    eDicky
    • #5
    • 10th Aug 18, 7:12 AM
    • #5
    • 10th Aug 18, 7:12 AM
    Apart from the Post Office Money Platinum Credit Card which is useful for purchases abroad. Especially if you need to spread out the cost of a holiday.
    Originally posted by EveryWhere
    Good point - but just hope you never need to deal with the notoriously dire customer service of Bank of Ireland.
    • jackieblack
    • By jackieblack 10th Aug 18, 7:30 AM
    • 8,373 Posts
    • 13,028 Thanks
    jackieblack
    • #6
    • 10th Aug 18, 7:30 AM
    • #6
    • 10th Aug 18, 7:30 AM
    Good point - but just hope you never need to deal with the notoriously dire customer service of Bank of Ireland.
    Originally posted by eDicky
    Agreed - I have foreign transaction fee free credit cards from Post Office, Halifax, Nationwide and, previously, Santander
    Post Office card is the only one I've ever had problems with while away - despite advising them of my travel plans
    2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter,
    south facing (-5 deg), 30 degree pitch, no shading

    Quidquid Latine dictum sit altum videtur
    (Revera linguam latinam vix cognovi )
    • EveryWhere
    • By EveryWhere 10th Aug 18, 11:22 AM
    • 1,033 Posts
    • 495 Thanks
    EveryWhere
    • #7
    • 10th Aug 18, 11:22 AM
    • #7
    • 10th Aug 18, 11:22 AM
    Good point - but just hope you never need to deal with the notoriously dire customer service of Bank of Ireland.
    Originally posted by eDicky
    Shame about that if true.
    • AdyTay
    • By AdyTay 13th Aug 18, 9:41 AM
    • 3 Posts
    • 0 Thanks
    AdyTay
    • #8
    • 13th Aug 18, 9:41 AM
    • #8
    • 13th Aug 18, 9:41 AM
    Thanks for your responses, lesson learnt.

    The whole reason for selecting this card was that were told of we loaded the card with local currency (!!!8364 we would only be charged a !!!8364;2.95 fee for up to !!!8364;450 withdrawal, as the money was in the local currency.

    We selected Euro's as the required currency and yes I totally agree the ATM provider may have converted to Stirling and then back to Euro's, but !!!8364;36 on !!!8364;300 appears extremely high. These exchange fees, weren't advertised on screen or even show on the process noted ATM receipt, this showed !!!8364;302.95 withdrawal. It was only when checking the App that we noticed the issue.

    The Post Office are investigating and I await their findings.
    • AdyTay
    • By AdyTay 13th Aug 18, 9:43 AM
    • 3 Posts
    • 0 Thanks
    AdyTay
    • #9
    • 13th Aug 18, 9:43 AM
    • #9
    • 13th Aug 18, 9:43 AM
    !!!8364; is the Euro Sign.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

276Posts Today

1,598Users online

Martin's Twitter