Caxton FX Currency Exchange www.caxtonfx.com Review

Don't bother with this card

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fredmila's review of Caxton FX Currency Exchange www.caxtonfx.com

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“Don't bother with this card”

Written on: 13/01/2012 by fredmila (4 reviews written)

I thoroughly researched this type of

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Fredmila's Response to fredmila's Review

Written on: 13/01/2012

Here is the complete review that is missing from the original:

I thoroughly researched this type of "traveller card" and compared it with the other competing cards. I decided on this one (Global traveller) based on all their claims of money saved on transactions and security. The idea for this card is that you are not supposed to need to take your "home" credit cards or wads of cash to survive during your holiday. That way you eliminate the risk of fraud on your c/c or of getting robbed of your cash; and you save on bank transactions abroad.

I took it to Mexico and started having problems from day one. I ran up a £100 bill in a Wal-Mart and the card was rejected when I tried to pay with it. Now, if I had not had my credit card, I would have been in trouble with the local police as I had about £10 in cash. I wrote to Caxton and they told me that, to their knowledge, this card was only rejected by Wal-Mart. Of course they do not tell you that in their website where there is no indication that, despite their Visa logo, it can be rejected by whoever does not like it.

The card is only rejected by Wal-Mart? Oh yeah? It was rejected by the HSBC ATMs every single time I tried to withdraw cash with it. It was also rejected by restaurants and hotels all the time.

The result was that my wife and I used our credit and debit cards, thus increasing the risk of getting their details or cards themselves stolen. We also ended up incurring the rip-off charges by the banks on foreign transactions when it was too late to eliminate this card and getting one of the competing ones.

The moral of the story is, if you are going to use this card, take your credit and debit cards, as well as cash with you or simply do not bother getting the card, unless you want to worry about yet another card.

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Fredmila's Response to fredmila's Review

Written on: 18/01/2012

I have now looked at the statements after returning from Mexico. On cash withdrawals above £70.00 approx I paid more to Caxton FX than to HSBC (debit card) in commission. This is another thing that they forget to tell you along with their claims that it is cheaper to use their card than to use your bank card.

The currency exchange was similar on both.

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Guest's Response to fredmila's Review

Written on: 02/02/2012

if you reviewed these cards you would know how good they are!
ok so you only load the card with the minimum amount and get internet access abroad and load more funds if you need it.
So easy, so user friendly, no loose cash, no money lost unless someone gets your pin.
I have been Eurpoe and USA absolutely fantastic.

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