# Cash cards - another banking scandal?



## Phil42 (Apr 4, 2006)

Alarming piece on BBC Breakfast. The guy form 'Money Box' was talking about all sorts of hidden charges on cash cards, in particular for 'inactivity'. As usual, it's apparently 'all in the small print'. I've had a Caxton card for a while and I don't think there have been any additional costs.

Am I missing something? Anyone had this problem?

Phil


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## cabby (May 14, 2005)

have a Caxton card as well, there profit/charges are in the exchange rate only as far as I have seen so far.just trying to see how to transfer back money we have not used.

cabby


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## Wizzo (Dec 3, 2007)

I didn't hear the report but are you sure it refers to cards like Caxton? I have never had any additional charges but then again it is rarely inactive :lol: :lol: 

Barclays have a 'Cash Card Account' which is a basic account for people who otherwise would not be able to open a bank account. These type of accounts are available to anyone virtually regardless of bankruptcy, criminal convictions etc. All banks offer these type of accounts but apparently they do not make it known and some banks make it difficult for you to open one.

As usual it seems that the banks hit those who have no money the hardest!

JohnW


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## tonyt (May 25, 2005)

cabby said:


> have a Caxton card as well, there profit/charges are in the exchange rate only as far as I have seen so far.just trying to see how to transfer back money we have not used.
> 
> cabby


I would imagine they factor that into their profit planning. I guess many people will have some balance left over when they return and some would just "leave it there 'til we go again"


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## bognormike (May 10, 2005)

did he mention currency cards? why do you think it would apply to Caxton etc?

wizzo may have a point...


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## moch (May 21, 2005)

*cash cards*

I saw this on TV this am. He never mentioned which card/cards, only they were cards that you pre load. A lady had 58 Euros left on one and hadn't used it for 3 years, only to find it empty. Some cards charge every month, others every 3 months for inactivity and the devil is in the detail (small print) She made such a fuss her euros were refunded but he did say don't expect this to happen every time. A woman after my own heart!!! Don't use these cards myself, but he did mention one that even when you want to close it, they charge.

Maggie


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## Phil42 (Apr 4, 2006)

Yes, he may have been talking about different type of cash card - I was a bit distracted at the time. Perhaps someone who was paying attention can confirm?

Phil


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## bognormike (May 10, 2005)

charges on caxton

http://www.caxtonfx.com/currency-cards/for-you/fees-charges/


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## Phil42 (Apr 4, 2006)

This is the only reference to the issue in Paul Lewis's newsletter dated today:

If you have a currency card - a prepaid plastic card that you use to pay for things - beware if you stick it in a drawer and do not use it. Some of them have a charge for non-use, called a dormancy fee, which eats away at the balance left on a card like a moth in a sock drawer. So you pay NOT to use your card.

This is his newsletter

He could have just been trying to promote today's Moneybox.

Phil


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## tonyt (May 25, 2005)

Caxton Dormancy Fee is shown on their list of charges but only seems to apply for any money left in your account beyond 12 months from the card's expiry date. Seems fair enough to me.


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## bognormike (May 10, 2005)

interesting Tony

this link

http://www.caxtonfx.com/currency-cards/for-your-business/business-admin/terms-conditions/

is for buisness cards, and has a dorrnancy charge (section 17.2), scroll down!

but the normal "retail" one doesn't

http://www.caxtonfx.com/currency-cards/for-you/fees-charges/


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