CAA Visa Card

[Chester's Mum]

I'm not sure this is what its called, but I checked out the CAA website and found they have an alternative to travellers cheques now. Its a visa cash card. Has anyone tried to use this in Florida? I need to carry 2500 in travellers cheques (or cash????), to pay for my room reservation. I hate signing all those cheques, my hand gets sore, and my signature gets bad. Is this Visa cash card a good thing?

 

[son3disfan]

I'm not sure this is what its called, but I checked out the CAA website and found they have an alternative to travellers cheques now. Its a visa cash card. Has anyone tried to use this in Florida? I need to carry 2500 in travellers cheques (or cash????), to pay for my room reservation. I hate signing all those cheques, my hand gets sore, and my signature gets bad. Is this Visa cash card a good thing?

I did a little research into these cards because I too get tired of all the SIGNING! These cash cards were really intended for overseas travellers (so I was told) . Every transaction has a fee as well as a loading fee. They are really similar to a debit card. You also have to keep track of your total ( from a bank machine ) again another fee. Call your local CAA office and they can explain it all for you. It's still travellers checks for me.
Good luck!

 

[tmli]

Caa employee here who sells these cards. They do have a purpose (european travel--kids travelling alone etc)...I think you will find the fees to outweigh the benefits when travelling in Florida.

These numbers are from memory...so don't quote me, I am at home today!!

Purchase of card is 7.95??....if you withdraw from an ATM it is 3.00 each time plus any fees the machine itself may charge....if you use it as a visa at time of purchase there is no fee. If you check balance by phone it is .75...free online. You load in Canadian funds. There is a 5% currency exchange mark up (all credit cards have this mark up as well--just usually not as high).

Just a tip when buying travellers cheques at CAA....you can pay in US funds. Which means if you get a better rate at a currency exchange or bank...bring the us cash and exchange them for cheques.

 

[son3disfan]

Just a tip when buying travellers cheques at CAA....you can pay in US funds. Which means if you get a better rate at a currency exchange or bank...bring the us cash and exchange them for cheques.[/QUOTE]



Good to know! Thanks.
I was under the impression that CAA exchange rates were lower then the bank ( no additional fees..) Is that correct?

 

[tmli]

There are no additional fees for members. But with exchange rates they can fluctuate. Typically our rates are similar to the banks (ours are set by travelex--the company that supplies our money products)....but not always. However, typically a currency exchange place will beat us both!!

 

[PhotobearSam]

So if I use it as a VISA in Europe there is no fee but there is a fee if I withdraw money from an ATM with it.

5% mark up is a bit high but I am afraid I will have problems with my Debit card at ATM's in France.

thanks for the advice.

As for TC in Florida, I find it's the only way to go...

 

[tmli]

Yes you are right. I agree 5% is a bit high...average credit card is 2.5%.

Keep one thing in mind about CAA...while it is kind of one big umbrella....we are broken down into "clubs" by region. So while the info I give you is true for my club...southcentral Ontario...there may be differences in your local club. Each is kind of run like an individual franchise of sorts.

 

[PhotobearSam]

Cool...Thanks!

 

[dhluvsDisney]

My son has this card and he used it on his Europe trip and on our U.S. shopping trips. The card costs $2.50 to reload, and the exchange rate is definately higher for U.S. transactions. I checked my visa to his on the same day transactions in August, and he was charged $1.18 exchange, whereas I was $1.14. That was quite a difference! Worked well for him in Europe to withdraw cash from an ATM, but very costly.

 

[Chester's Mum]

Thanks for all the help. I've decided to just take the travellers cheques. I think they have them in $500 denominations, so that's what I'll do for the room balance. That's only 5 signatures.

 

[trivial]

Sorry to resurrect this 2-month-old thread, but can I ask a silly question? Why not just use a regular ol' Visa/Mastercard?