# DONT use CaxtonFX card to pay for fuel !!!



## Mrplodd (Mar 4, 2008)

Below is a direct lift from an email (my italics though) I have just had from Caxton in respect of how the system operates if using an FX card to pay for fuel or tolls, best summarised as DONT !!!

Automated petrol pumps

Although you can use your Caxton FX MasterCard prepaid card at automated petrol pumps, please be advised that an amount of €120-€500 may be on hold for up to 20 days when using these pumps. The merchant should release the hold when settling the transaction and debiting the correct amount from your card. _We do however recommend using a different card for these types of purchases._

Avoid using your prepaid card at Toll booths

Caxton FX prepaid cards require a merchant to seek authorisation before they provide the goods or services. The majority of European toll roads and bridges do not seek an authorisation and therefore you can't use your Caxton FX currency card at most toll booths.

Andy


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## gaspode (May 9, 2005)

It always puzzled me why anyone uses these cards anyway. 
If they're no good for buying fuel or paying tolls then what's the point of them?


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## erneboy (Feb 8, 2007)

They're fine for both, just avoid using them for prepayment of an unspecified amount (later to be determined) if you don't keep a substantial balance on them. It simply reserves a sum of money equivalent to the likely maximum cost of the service. The same happens with a credit card.


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## siggie (Oct 2, 2010)

gaspode said:


> It always puzzled me why anyone uses these cards anyway.
> If they're no good for buying fuel or paying tolls then what's the point of them?


Shopping, cash withdrawals, eating out, loading when the exchange rate is good...


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## stewartwebr (May 27, 2005)

Mrplodd said:


> Avoid using your prepaid card at Toll booths
> 
> Caxton FX prepaid cards require a merchant to seek authorisation before they provide the goods or services. The majority of European toll roads and bridges do not seek an authorisation and therefore you can't use your Caxton FX currency card at most toll booths.
> 
> Andy


The fact that the French toll system does not authorise the card until the end of the day explains the "Tip" I was recently given by another camper on a campsite in France, he was in a large hobby caravan with Irish registration plates on his Transit and had a domestic washing machine working on the tap and hook up point right behind my motorhome as it pumped out the soapy water onto my pitch. Anyway, his tip when I complained about recent toll charges was cancel your credit card when you leave the UK but retain the card and use at the toll booths and it opens the barrier but when they try to authorise it fails and you travel for free.
Of course I would never dream of such a thing but it shows what some people do.


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## dghr272 (Jun 14, 2012)

Alan is right, if you are working to a tight budget, in terms of balance on your card, best not to use. However whilst I don't use it in tolls I have always used it in automated pumps, and in my monitoring of the card balance it never came close to 20 days.

Horses for courses.

Terry


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## gaspode (May 9, 2005)

siggie said:


> Shopping, cash withdrawals, eating out, loading when the exchange rate is good...


But I can do all of those things with any of my credit or debit cards - and I don't need to load one up to do it. I keep one card for foreign transactions that gives me an excellent exchange rate and doesn't make any transaction charges.

Charging up when you think the interest rate is favourable is fine if you have a crystal ball.................:wink2:

Sorry but I still don't see the point.


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## erneboy (Feb 8, 2007)

We buy Euros at a good rate perhaps months in advance, you take the rate you get on the day if you use a CC or debit card.


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## dghr272 (Jun 14, 2012)

gaspode said:


> But I can do all of those things with any of my credit or debit cards - and I don't need to load one up to do it. I keep one card for foreign transactions that gives me an excellent exchange rate and doesn't make any transaction charges.
> 
> Charging up when you think the interest rate is favourable is fine if you have a crystal ball.................:wink2:
> 
> Sorry but I still don't see the point.


But which of your cards gives you €1:40 to a pound ?

My Caxton does, oh and I don't have a crystal ball, but it works for me :wink2:

Terry


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## siggie (Oct 2, 2010)

gaspode said:


> But* I can do all of those things with any of my credit or debit cards* - and I don't need to load one up to do it. I keep one card for foreign transactions that gives me an excellent exchange rate and doesn't make any transaction charges.
> 
> Charging up when you think the interest rate is favourable is fine if you have a crystal ball.................:wink2:
> 
> Sorry but I still don't see the point.


I would be interested in the list of cards you use.

I also have a Halifax Clarity card and use that for fuel, but the Caxton is very handy to have as well, especially right now when it still has a lot of Euros on it from when the rate was near 1.40 and not the 1.15 you get today :wink2:


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## peejay (May 10, 2005)

That has always been the case when buying fuel with Caxton cards.

Incidentaly, a couple of years ago we also had money ringfenced when drawing money from a cash machine as well....

http://forums.motorhomefacts.com/37...2951-caxton-card-cash-withdrawal-warning.html

Pete


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## raynipper (Aug 4, 2008)

We both use the Post Office credit cards. Good exchange rate (on the day) and no 'transaction' charge for day to day purchases.
But we did manage to buy some Euros when at €1.41 that now pay house expenses and any large bills.

There are times some people won't be able to stock up with foreign currency just in case. We know our month to month expenditure.

Ray.


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## gaspode (May 9, 2005)

siggie said:


> I would be interested in the list of cards you use.
> 
> I also have a Halifax Clarity card and use that for fuel, but the Caxton is very handy to have as well, especially right now when it still has a lot of Euros on it from when the rate was near 1.40 and not the 1.15 you get today :wink2:


Oh, I can't argue with that exchange rate - but you were quite fortunate that the silly sods voted for Brexit (definitely not the anticipated outcome). Many pundits might have waited until after the vote to buy - and come a cropper. Foreign currency dealing for profit is one for the fly-boys who play with other peoples money, not cash strapped pensioners like me. Currencies can go down as well as up. :wink2:

I try to use a Nationwide Gold card most of the time abroad as I find that gives me the best deal overall and is accepted everywhere.


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## erneboy (Feb 8, 2007)

Well that's true but I guess those of us who topped up at 1.40 took the view that it had been quite a while since the rate had been as good as that and on the basis of the uncertainty it was worth topping up. If the rate improved we'd still bought fairly well and if it got a lot worse we'd done very well. The sums involved aren't huge so if the had been a loss that wouldn't have been huge either. As it happened we did quite well.

And in my opinion that's the advantage of Caxton. Buy when the rate is good.


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## peedee (May 10, 2005)

If you bought quite a lot at 1.40 you must have lost a lot of interest on that money. I haven't seen that rate for at least two to three years!
peedee


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## erneboy (Feb 8, 2007)

Oh well, be picky Pete. Let's say buy when the rate is good. Interest, what's that? 

Anyway it was 1.40 a year ago. I certainly topped up to the max then and I'm sure others did too.

It's been a very long time since a few thousand could earn "a lot" of interest.


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## dghr272 (Jun 14, 2012)

erneboy said:


> Oh well, be picky Pete. Let's say buy when the rate is good. Interest, what's that?
> 
> Anyway it was 1.40 a year ago. I certainly topped up to the max then and I'm sure others did too.
> 
> It's been a very long time since a few thousand could earn "a lot" of interest.


I'm with you Alan, but there's always one........>

Terry


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## Mrplodd (Mar 4, 2008)

Whoa !!!!!!

I simply posted the details about the pitfalls of using a Caxton card to pay for fuel!! 

If anyone chooses to use a different system that's fine (I have the Halifax Clarity and a Nationwide CC and both have the uses and serve different purposes) A pre-payment card is not the answer to everything but it does enable you purchase € when you think the rate is favourable. 

I just wanted to make sure as many people as possible know that fuel stations in particular reserve a large amount of credit off your card PRIOR to dispensing any fuel, but ONLY at the pre-payment pumps (which I avoid if at all possible) If you pay the cashier it is only the sum purchased that is taken off the balance on the card. 

I suspect that is why at UK prepayment pumps you see "Max available for dispense £99" 

The danger being that someone has used up all but say €150 on their Caxton card and decides to fill up mid afternoon with €100 worth of fuel. They then think "I have a bit of time before the ferry I will have a meal in a restaurant" they then try to pay for that meal (€40 worth) and find the card is declined (even though in theory there is €50 available on it) and they have no other means of payment!!! It's a scenario that could easily happen to some, and THATS the reason I started this thread. 

Andy

P.S. I also loaded my Caxton when the rate was €1.40 - £1 which is about 20% better than it is now which is VASTLY better than the paltry interest (3% in Santander 123 account) it would have earned in the interim.


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## delawaredandy (Oct 12, 2012)

Another card that is the same is the Travelex card, again ok for everyday purchases, food/restaurant's/etc but do not use in prepayment fuel stations, we had nearly 120 euro's held in limbo for 10 days.


M


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## Stanner (Aug 17, 2006)

dghr272 said:


> But which of your cards gives you €1:40 to a pound ?
> 
> My Caxton does, oh and I don't have a crystal ball, but it works for me :wink2:
> 
> Terry


How long do you lend them that money before they give you that rate?

I also seem to remember that one card like that went bust a couple of years ago and holders then got €0.00 to the pound.


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## dghr272 (Jun 14, 2012)

Stanner said:


> How long do you lend them that money before they give you that rate?
> 
> I also seem to remember that one card like that went bust a couple of years ago and holders then got €0.00 to the pound.


Yeah and aeroplanes fall out of the sky, but a few of us still use them.


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## siggie (Oct 2, 2010)

Stanner said:


> I also seem to remember that one card like that went bust a couple of years ago


Details please...


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## erneboy (Feb 8, 2007)

http://www.moneysavingexpert.com/ne...wn-currency-exchange-goes-into-administration

Not a card but that's the one I remember.


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## siggie (Oct 2, 2010)

erneboy said:


> http://www.moneysavingexpert.com/ne...wn-currency-exchange-goes-into-administration
> 
> Not a card but that's the one I remember.


Sorry erneboy, but that is irrelevant to this discussion about cards.


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## erneboy (Feb 8, 2007)

Yep.


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## Stanner (Aug 17, 2006)

siggie said:


> Sorry erneboy, but that is irrelevant to this discussion about cards.


https://www.caxtonfx.com/information/authorised-and-regulated
This seems to say that your money is protected, but then warns that at certain points and under certain circumstances your money isn't protected.

I expect the lot who went bust probably said much the same on it's website as well.

PS Motorhomes crash but we still drive them, however I fail to see what that has to do with handing somebody your money to look after.


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## siggie (Oct 2, 2010)

Stanner said:


> I expect the lot who went bust probably said much the same on it's website as well.


As before, please give us more details of who "the lot who went bust" were.


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## peribro (Sep 6, 2009)

Whilst Crown Currency Exchange may not have issued prepaid currency cards I think the fact is that it is possible for organisations like this to go bust with no compensation for customers. My understanding is that funds deposited with Caxton fx are not covered by the Financial Services Compensation Scheme. Something else that users of these cards should be aware of is that protection under Section 75 of the Consumer Credit Act does not apply. Obviously not relevant if used for paying for something already received such as after filling up with fuel or a meal but certainly relevant if used for the purchase of products or services not yet provided.


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## siggie (Oct 2, 2010)

peribro said:


> Whilst Crown Currency Exchange may not have issued prepaid currency cards I think the fact is that it is possible for organisations like this to go bust with no compensation for customers. My understanding is that funds deposited with Caxton fx are not covered by the Financial Services Compensation Scheme. Something else that users of these cards should be aware of is that protection under Section 75 of the Consumer Credit Act does not apply. Obviously not relevant if used for paying for something already received such as after filling up with fuel or a meal but certainly relevant if used for the purchase of products or services not yet provided.


I don't disagree with you, but when someone comes here saying "I also seem to remember that one card like that went bust a couple of years ago" I would like more details about said company. Without any evidence it is just hearsay, not backed up by any facts, from someone that may have a dislike of these types of card, and therefore being deliberately negative.


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## dghr272 (Jun 14, 2012)

Stanner said:


> https://www.caxtonfx.com/information/authorised-and-regulated
> This seems to say that your money is protected, but then warns that at certain points and under certain circumstances your money isn't protected.
> 
> I expect the lot who went bust probably said much the same on it's website as well.
> ...


It's the fact that **** happens, you make an informed judgement and live by the consequences, unless you want collective responsibility comrade.

I won't play your game. Over and out.


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## Mrplodd (Mar 4, 2008)

Oi you lot!!!!!!

Stop being so damn confrontational will you!!!!! This thread was meant to be informative and helpful NOT a vehicle for people to argue to pro's and cons of prepayment cards.

They exist
They have advantages
They have disadvantages
Some people like to use them
Some people don't like to use them
NO ONE is compelled to use them.

So can we all just start being a bit nicer here please?

Thank you

Andy


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## erneboy (Feb 8, 2007)

P!$$ off.


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## dghr272 (Jun 14, 2012)

erneboy said:


> P!$$ off.


And you can do one too >


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## Al42 (Aug 4, 2011)

peedee said:


> If you bought quite a lot at 1.40 you must have lost a lot of interest on that money. I haven't seen that rate for at least two to three years!
> peedee


On 1/12/15 the rate was €1.4189 to the pound.:smile2:


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## 113016 (Jun 5, 2008)

Just to pi$$ some off.
I got 1.275 0n the morning after the Brexit vote. From Sainsbugs!
At the same time Caxton, Fairfx, Tesco, and the PO websites were all down! :laugh:
Sainsbugs dropped a clanger, by not altering their rates!


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## Stanner (Aug 17, 2006)

siggie said:


> I don't disagree with you, but when someone comes here saying "I also seem to remember that one card like that went bust a couple of years ago" I would like more details about said company. Without any evidence it is just hearsay, not backed up by any facts, from someone that may have a dislike of these types of card, and therefore being deliberately negative.


I thought Crown Currency Exchange was/also offered a card but obviously they weren't/didn't. However it is somewhere you send money to withdraw later in a different form.

But I don't think the method of accessing your money affects the concept of handing over money to an organisation that promises to give it back to you in a different form later (or not as the case may be) I'm not sure just having a card in your hand will make the deposit any safer.

But as Mr P says you pays your money and makes your choice.


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## peedee (May 10, 2005)

Al42 said:


> On 1/12/15 the rate was €1.4189 to the pound.:smile2:


I obviously missed it. Was it just for the day? :wink2:
peedee


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## dghr272 (Jun 14, 2012)

peedee said:


> I obviously missed it. Was it just for the day? :wink2:
> peedee


Snooze and you lose :grin2::wink2:

Terry


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## cabby (May 14, 2005)

I bought at 1.32 earlier this year, onto my Caxton fx card, however have not had the opportunity to use it yet.Not really sure if I shall be going abroad for a while either.Wondering whether to trade it back, or hang on and hope it does not disappear. Advice would be listened to.

cabby


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## dghr272 (Jun 14, 2012)

cabby said:


> I bought at 1.32 earlier this year, onto my Caxton fx card, however have not had the opportunity to use it yet.Not really sure if I shall be going abroad for a while either.Wondering whether to trade it back, or hang on and hope it does not disappear. Advice would be listened to.
> 
> cabby


Why/how will it disappear cabby ?

Terry


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## 113016 (Jun 5, 2008)

cabby said:


> I bought at 1.32 earlier this year, onto my Caxton fx card, however have not had the opportunity to use it yet.Not really sure if I shall be going abroad for a while either.Wondering whether to trade it back, or hang on and hope it does not disappear. Advice would be listened to.
> 
> cabby


I would hang on to it Cabby, but if you want to cash it in, I am sure there would be a member somewhere nearish to you, who would give you a better rate than Caxton would!


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## erneboy (Feb 8, 2007)

How could that be done with money that's on a card?

Why would anybody want to give a better rate than the going rate?

I'm sure I've missed something.


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## 113016 (Jun 5, 2008)

erneboy said:


> How could that be done with money that's on a card?
> 
> Why would anybody want to give a better rate than the going rate?
> 
> I'm sure I've missed something.


Alan, when ever a person sells the currency back, they usually get a worse rate than when they purchased.
I am assuming Cabby would be cashing in for Sterling!


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## peedee (May 10, 2005)

Caxton were offering to buy back at the same rate as you bought, this offer may still be in place?
peedee


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## erneboy (Feb 8, 2007)

Yes thank you Graham, I know.

How could Cabby sell his Euros to anybody else was what I was wondering and why would anybody else give him more that Caxton would?

Just curious, it doesn't really matter.


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## 113016 (Jun 5, 2008)

erneboy said:


> Yes thank you Graham, I know.
> 
> How could Cabby sell his Euros to anybody else was what I was wondering and why would anybody else give him more that Caxton would?
> 
> Just curious, it doesn't really matter.


Well surely no-one can now get 1.32 to the £, so I am sure if Cabby would give 1.32 for every £, buyers would queue up.
If Cabby would deliver to Newhaven, even I would buy.
Obviously he would need to find somewhere to withdraw them, and that could be a difficulty!


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## erneboy (Feb 8, 2007)

Why would Cabby want to pay €1.32 for pound coins when he could buy them cheaper by paying today's rate?


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## 113016 (Jun 5, 2008)

erneboy said:


> Why would Cabby want to pay €1.32 for pound coins when he could buy them cheaper by paying today's rate?


Cabby purchased €1.32 for every £1 he sold. If Cabby sold for the same rate he would not be better off or worse off! Would he!
But as I said, he might have difficulty finding somewhere to take the card which will give the Euro's
But again, I did say, I would not sell them if I were him!


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## erneboy (Feb 8, 2007)

He would be better off. Indeed he would, very much so Graham, quite right, but the purchaser would have done rather badly don't you think?


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## dghr272 (Jun 14, 2012)

peedee said:


> Caxton were offering to buy back at the same rate as you bought, this offer may still be in place?
> peedee


PD, it's a recently introduced guarantee by Caxton, but you can only do it if you pay £4.99 for the guarantee at the time of loading your cash.

Cabby's load would have been prior to its introduction I think.

Terry


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## 113016 (Jun 5, 2008)

dghr272 said:


> PD, it's a recently introduced guarantee by Caxton, but you can only do it if you pay £4.99 for the guarantee at the time of loading your cash.
> 
> Cabby's load would have been prior to its introduction I think.
> 
> Terry


yes Terry, I have seen that, I didn't bother as I usually keep for the next trip what I don't use


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## 113016 (Jun 5, 2008)

erneboy said:


> He would be better off. Indeed he would, very much so Graham, quite right, but the purchaser would have done rather badly don't you think?


No! I don't!
I would be happy to buy if Cabby would give me €1.32 for every £ I gave him, wouldn't you?


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## erneboy (Feb 8, 2007)

So both the buyer and the seller would be better off then? That's a pretty good deal. All foreign exchange should be done like that.


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## 113016 (Jun 5, 2008)

erneboy said:


> So both the buyer and the seller would be better off then? That's a pretty good deal. All foreign exchange should be done like that.


Alan, you know very well that Cabby is not a business and is just contemplating getting his cash back!
I am finished!


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## wug (May 19, 2011)

The purchaser would have done well, Cabby would be in the same position, but it depends on what rate Caxton would give to change his Euros into pounds - he could do better. If Caxton wanted €1.20 from him for every pound they gave him back then he's doing better. That's how the financial vultures work - they sell pounds into Euros, say, when the pound is strong and bet that the pound will fall when the sell their euros and buy back pounds and they're quids in.

So Cabby should wait until the pound falls to parity and then cash in his million euros and he's made a killing.


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## erneboy (Feb 8, 2007)

Yes Cabby would be in the same position, despite his Euros now being able to buy considerably more in pounds than when he bought them. Why would he do that?


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## wug (May 19, 2011)

erneboy said:


> Yes Cabby would be in the same position, despite his Euros now being able to buy considerably more in pounds than when he bought them. Why would he do that?


Out of the goodness of his heart?:wink2:


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## cabby (May 14, 2005)

The problem also lays as to where I could spend or withdraw euros from my card here in the UK.In amounts more than 300.and at what cost.

cabby


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## 113016 (Jun 5, 2008)

cabby said:


> The problem also lays as to where I could spend or withdraw euros from my card here in the UK.In amounts more than 300.and at what cost.
> 
> cabby


Actually, Cabby, how the rate is at the moment, you might even get your money back by selling to Caxton. Nothing to loose by asking!


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## wug (May 19, 2011)

On the Caxton site there's something about Redeem Balance, if you don't go on holiday. Costs £1.50. Don't know how it works. Also LondonUnderground have Euro ATM's, but if you intend going abroad again I'd hold on to them.


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## cabby (May 14, 2005)

Update.
Just been on the phone to Caxton, very helpful chap.I redeemed my euros on the card back to my bank account for the charge of £1.50.I also made a small profit as well.:wink2::wink2:

cabby


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## Al42 (Aug 4, 2011)

dghr272 said:


> Snooze and you lose :grin2::wink2:
> 
> Terry


After meticulous time consuming research the pound hit €1,40 in June 15 and hovered around that until December:smile2:

I sold a caravan in Portugal for euros in November, glad I didn't change them:grin2::grin2:


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## dghr272 (Jun 14, 2012)

For the month of August with loads of over £500 Caxton will apply the Buy Back Guarantee without the need for an upfront payment of £4.99.

Terry


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