# Caxton FX card?



## seanoo (Mar 31, 2007)

hi, could someone please explain to me how this caxton card is better value than just using a nationwide debit card abroad for getting euros out the hole in the wall? i dont get it :? if i draw 300 euros with nw debit card it costs 2% (6 euros) plus £1. if i use a caxton card today the exchange rate was 3.4 cents lower than nw so i would lose €10.20 (£8.94) on my 300 euros or am i being a bit thick and missing something?? help sean


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## Mrplodd (Mar 4, 2008)

You get a Caxton Euro card when abroad there is no "exchange rate" you card already has euro's loaded onto it! 

You load the card from your current account when the exchange rate is in your favour. You then use your card whilst abroad to draw cash in Euro's.

The trick is loading your card at the right time


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## fifthwheel (May 31, 2009)

We have used a Caxton card for a couple of years now, I keep a watch on the exchange rate and preload at the right time then I spend at that rate. I have never seen any charges on my statement at all inc hole in the wall transactions. The last time I loaded the rate was 2.20 they gave me 1.18. regards john.


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## Telbell (May 1, 2005)

> if i draw 300 euros with nw debit card it costs 2% (6 euros) plus £1.


Caxton Card costs nowt- and as Mr Plodd & 5th wheel say your rate is as it was when loaded-so load it when it's up...when!


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## nickmawby (Oct 5, 2007)

I find the Caxton fx card is better if you want to draw out small amounts of cash at a time, or use it to pay at supermarkets.


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## seanoo (Mar 31, 2007)

hi mrplodd, there is an exchange rate when you load the euros on your card though. yesterday nw rate was 1.14 and caxton were giving 1.10 so on €300 euros thats a big loss. whereas i would get 1.14 using my nw debit card but pay the 2% and the pound . i would be worse off using caxton than using my debit card for the same €300, so i still dont see the benefit of the caxton card, all the best sean


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## sallytrafic (Jan 17, 2006)

Mrplodd said:


> You get a Caxton Euro card when abroad there is no "exchange rate" you card already has euro's loaded onto it!


So where do the Euros come from then? Surely unless you earn money in the Eurozone at some point the euro's have to be paid with sterling or am I missing something


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## bognormike (May 10, 2005)

seanoo said:


> hi mrplodd, there is an exchange rate when you load the euros on your card though. yesterday nw rate was 1.14 and caxton were giving 1.10 so on €300 euros thats a big loss. whereas i would get 1.14 using my nw debit card but pay the 2% and the pound . i would be worse off using caxton than using my debit card for the same €300, so i still dont see the benefit of the caxton card, all the best sean


For those of us that don't have a nationwide card (or have been deleted from their list!) the Caxton (or similar) is the best deal around. What he was saying is that you can watch for the best rate and load it up, then draw it when abroad and it costs nothing. You can also use it as a normal debit card with no transaction charges.


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## Telbell (May 1, 2005)

> So where do the Euros come from then? Surely unless you earn money in the Eurozone at some point the euro's have to be paid with sterling or am I missing something


either (a) a hole in the wall-with no charge if it's a "foreign" hole or
(b) pay for goods with the card as you would with a credit or debit card-but again with no charge


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## Rapide561 (Oct 1, 2005)

*Rates*

Hi

I have been away for almost two weeks now and have been using the Halifax Clarity credit card for purchases - fee free and rates of 1.13 - 1.15

I have checked the Caxton site daily and never in this two week period has 1.15 been available.

You can withdraw cash also with the Clarity credit card but whilst there are no foreign commission fees etc, interest is charged from the day of the transaction to the day the debit is cleared. There are ways around this though.

Russell


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## wackywyco (Apr 30, 2007)

Hi, Caxton ask for Passport number on application form, is this normal. just a bit wary I've latched on to an iffy webpage.


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## Mike48 (May 1, 2005)

The Caxton card is excellent in that you can load euros when the pound is strong. I loaded mine last Autumn/Winter at 1.18 and again at 1.22 to the pound so have sufficient euros to last me for my Spring and Autumn breaks. Against that you have to factor in a loss of interest on any capital loaded on to the card.

Of course you can just as easily lose by buying currencies in advance. Last month I bought dollars at 1.58 and the rate is now 1.63.


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## ThursdaysChild (Aug 2, 2008)

I got a Caxton Card after numerous refusals by ATM's and Petrol Stations to accept my Halifax Debit or Tesco Credit cards.
I may lose out a little on rates and charges, but my Caxton Card has never been refused.


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## Rapide561 (Oct 1, 2005)

*Cards*

Hi

Almost four weeks into our trip, Caxton refused a couple of times at auto service petrol pumps, Halifax Clarity Mastercard not refused anywhere so far.

Halifax rates are about 2 - 3% better - a lot of money on a trip like this.

Russell


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## tempest (Jun 14, 2009)

we are in spain and using the new n&p building society acount no charges for withdawals or in shops just like the old nationwide. we are getting comercial exchange rate and so far no problems.


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## peribro (Sep 6, 2009)

gelathae said:


> The Caxton card is excellent in that you can load euros when the pound is strong. I loaded mine last Autumn/Winter at 1.18 and again at 1.22 to the pound so have sufficient euros to last me for my Spring and Autumn breaks.


I'm probably over-cautious but I don't like entrusting my money to anyone, including banks and building societies, unless I know that it is safe and protected by the Government's compensation scheme. The following comes from the Caxton website:" Compensation
The Prepaid Card is an electronic money product and although it is a product regulated by the Financial Services Authority, it is not covered by the Financial Services Compensation Scheme. No other compensation scheme exists to cover losses claimed in connection with the Prepaid Card. This means that in the unlikely event that Newcastle Building Society becomes insolvent your funds may become valueless and unusable and as a result you may lose your money."


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