# currency cards



## toottoot (Sep 2, 2010)

Has anyone used a currency card whilst abroad. I'm thinking of getting one for our upcoming trip around France and Italy. I'm leaning towards the Caxton FX one as it features no ATM fees and as far as I can see this cancels out the rate difference with FairFX. I'm new to this product though so any advise would be very welcome.
toottoot


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## erneboy (Feb 8, 2007)

Quite a few have Caxton cards and seem to find them good.

Many more are getting them, myself included, due to Nationwide changing their deal. No doubt someone who has had one for a while will be along to tell you about it, Alan.


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## Bob45 (Jan 22, 2007)

Just got mine - Caxton FX car and it seemed ok. Good rate of exchange but have not used it yet.
Bob


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## neilbes (Oct 16, 2006)

I have one and used it for 2 weeks solid in Germany,it got refused once.

Very easy to put money on it, by phone or internet.

I would recommend.

be aware that they are not backed by the- f.s. whatever it is ,so you are not completely secure,so I just load small amounts on at a time.


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## Techno100 (May 8, 2010)

Check out my signature :wink:


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## Zebedee (Oct 3, 2007)

Techno100 said:


> Check out my signature :wink:


FairFX exchange rate is very slightly better.

What is there to choose between the two? There doesn't seem to be enough difference in the exchange rates or charges to bother about, but does either one have any other advantages?

Dave
(Ex Nationwide! :roll: )


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## wp1234 (Sep 29, 2009)

Have used my Euro Caxton a lot of late . Very happy with it and easy to load by text message- makes sense to have one in your back pocket I reckon


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## Techno100 (May 8, 2010)

Caxton was just so easy to apply for and use and minimum purchase is only 150€
I watch the rate and when it goes over 122 I buy


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## b2tus (Sep 7, 2009)

Thks for the heads up....just applied for one.


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## Rapide561 (Oct 1, 2005)

*Cards*

Hi

I have a Caxton Card and keep a small number of Euro on there. The rates are pretty good and I have never been charged a fee for a withdrawal.

The card was refused though in Italy, both in retailers, ATM's and toll booths more than it was accepted. France and Luxembourg were ok.

Be aware though that money held on deposit on prepaid currency cards may not be covered by the financial services compensation scheme. I advise you contact the FSCS for clarification as I did.

The FSCS can be contacted at

http://www.fscs.org.uk/

Your opening question should be along the lines of

"If I open a prepaid currency card operated by xxxxxxx xxxxxxxxx, would this be covered for compensation in the worse case event of the organisation going bust"

I do not want to sound negative, and indeed I have a prepaid card myself, but do be aware.

Russell

Footnote - there is a thread on MHF with a copy of the FSCS email that I received.


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## Rapide561 (Oct 1, 2005)

*Cards*

Back again

I found the reply from the FCSC

Here is the email response received today from the FSC.

Quote

Thank you for your e-mail of 30 April 2009 concerning the role of the Financial Services Compensation Scheme (FSCS). The FSCS is a fund of last resort, which deals with claims for compensation against firms that are no longer trading and cannot honour claims against them. If you require more information you can log onto our website at www.fscs.org.uk. Our rules and regulations can also be found on the Financial Services Authority's website at www.fsa.gov.uk.

In answer to your query, Electronic money is not considered to be a deposit held by a bank or building society, but a method of payment. Funds are held on a pre-payment credit card (for example) and used in the same manner, as one would cash/currency, and are therefore not protected by the FSCS. This is also mention at point 17 on the following Caxton Card webpage http://www.caxtonfxcard.com/termsncondition.asp?dist=CAXTGENL

I hope the information contained in this e-mail has proved helpful. If you have any further questions, please telephone our helpline on 020 7892 7300, and we will be happy to be of assistance.

Yours sincerely

Unquote

Hope this is helpful to you

Russell


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