fairfx card - how does it work pro's & cons ???

[MrsJobba1]

Hi

In another thread someone mentioned using a fairfx card to get a good xchange rate.

Could anyone tell me how does this work - is it like a gift card for example where you out a certain amount on it- can you use it in shops???

Thanks for any help

 

[Frances999]

I've never used one, but it is essentially a pre-loaded MasterCard. It will be accepted everywhere that accepts MasterCard - i.e. virtually all locations.

The positives are the better exchange rate (compared to foreign currency exchange on notes/traveller's checks) and the ability to store money on the card in case of loss. It's more convenient paying by card than messing around with cash/TCs.

The negatives are the worse exchange rate compared to fee-free credit cards and the fact that you are paying up-front for cash. This can, however, be turned into a positive if the exchange rate takes a dive and you pre-loaded your card before then. It might also be harder to keep track of your balance, but I believe there is an online balance checker service you can use.

 

[orangetiggs]

we loved it. we got it through matalan and didnt pay for it and loaded it up, you can have up to £3000 on one card at a time i think and we used ours to pay for goods in florida and mexico and over the phone to pay for our disney wedding.

You can use it a cash machines as well but you get charged like $2 i think but anywhere that accepts mastercard it can be used

We still have money on ours and we top up when the rate is good for our trip this year

We checked our balance and topped up online while we were out there. so easy just log in like any other online banking, even shows you your transactions

 

[madmumof2]

I like how you can top on with your mobile too, and check your balance on your phone.

It's at 1.4550 right now too!

 

[Netty]

Have a look here for more info on the fairfx card

 

[Princess_Melanie]

We tried it out on our Dec 08 and Jan 09 trips and LOVED it. So easy to use, top up and as we had internet access, keep an eye on the balance. We top it up as and when we can when the rate picks up a little - next trip we getting one for me too - been using the one for DBF so far - no joint account option.

 

[karriemouse]

We have recently discovered it and wished we had years ago!

Essentially it is a Mastercard which works like a Debit Card (put money onto it and spend until you run out).

Getting a card is free if you load it with £500 or more, mine took just over a week to arrive.

You then load it electronically with money whenever you wish - topping up via bank transfer literally takes a few hours with no fees and you can check your card balance on line at any time.

Use it either as a Mastercard to pay wherever this is accepted or for a $2 fee withdraw money from an ATM. We have a US Bank Account (to run the condo) so we use the FairFX card as a transport device and then put the cash in SunTrust. Saves so much time and signing of travellers cheques!

Only downside is that if you lose the card you potentially lose your money. Lots of info on www.fairfx.com and they are good at replying to queries.

 

[misscrossbee]

We used the FairFx card for our trip last October and loved it. We used it for everything and never had a problem anywhere either in the parks, hotels or airports.

When we got back to the UK we still had money on them and so we used them here for things like groceries, etc.

The customer service for it was very good as well - quick responses by email and always very helpful. I highly recommend it.

 

[Netty]

Getting a card is free if you load it with £500 or more, mine took just over a week to arrive.

if you go through the matalan link it is free and you get £5
http://www.fairfx.com/matalan-offer

 

[OrlandoMagic]

Just a heads up for anyone looking to register one, if you do it through TopCashback (cashback site like Quidco) you get £8.20 cashback!

If you haven't signed up to TopCashback feel free to PM me and I can send you a referral link!