FairFX Card

[misscrossbee]

I know this has been mentioned before, but the search function isn't working for me at the moment.

I'm considering getting one of these today, as I've noticed the exchange rate is starting to slide a bit. I know my options of travellers cheques - which I've used before - but they seem slightly inconvenient in comparison to this card (need to sign them all, carry photo ID, etc). I'm also aware of the Nationwide card which is fee-free for withdrawals, but I'd like to take advantage of the current exchange rate.

So, does anyone have any opinions of the FairFX card, or experience of using it, that they'd be kind enough to share before I take the plunge?

Many thanks in advance!

https://fairfx.com/

 

[wickesy]

Dad and I found them great. We bought one each back when the rate was over $2 to the £ and topped them up a couple of times before we went. Once we were out there we kind of lost track of how much we had left on our cards but it was easy enough to log on to the website and check the balance.

I used mine in World of Disney, Virgin, Kennedy Space Centre and I think a couple of other places with no problems at all.

In short I would definitely recommend them.

 

[misscrossbee]

Thanks very much David!

 

[David and Debbie]

My DF and I have been looking at this for the last couple of weeks and have decided to go with one of these it is the best for rates and is better than taking loads of cash as if you need some you can withdraw from an ATM. I compared the rate for today with the Post Office - with the FairFX card for £500 you get 980 dollars and the Post Office you get 946 dollars. So that swayed it for me.

 

[kiearn]

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[kiearn]

Use a Nationwide debit card as it cost £0 to withdraw, it costs £1 with FX to withdraw. Plus you get the Visa wholesale market rate on exchange rates which at the moment is 1.97 where the FX card is currently 1.9450. No miniumum load amount either. Been looking into this and think the FX card is a close second to the NW debit card.

 

[lawlesslovewdw]

We have used it for a while and never had any probs. We have always got good exchange rate in comparison to post office etc

 

[wickesy]

Use a Nationwide debit card as it cost £0 to withdraw, it costs £1 with FX to withdraw. Plus you get the Visa wholesale market rate on exchange rates which at the moment is 1.97 where the FX card is currently 1.9450. No miniumum load amount either. Been looking into this and think the FX card is a close second to the NW debit card.

The joy AND pitfall of the FairFX card though is that you are 'locking' the rate at which you make your purchases. As I said when we bought ours the rate was over $2 to the £. I used my Nationwide card for some purchases and by the time we went they were only offering 1.97 We could have been unlucky and it could have been the other way round so it depends whether you want to gamble.

We don't withdraw cash abroad so that consideration didn't come into it for us.

 

[misscrossbee]

The joy AND pitfall of the FairFX card though is that you are 'locking' the rate at which you make your purchases.

Thanks to everyone for your responses.

I'm watching the exchange rate closely - it seems to be creeping back up again - and trying to predict whether it will get back up to over $2 or not in the next couple of months. I might put £500 on it now and wait and see where it heads before sticking the rest of my budget on it.

In addition to all its other pros, I like the fact that if I lost it, I'd still have my debit card. Whereas I'd be in a bit of a pickle if I relied solely on my debit card and lost that. This scenario is not inconceivable, as I'd lose my feet if I didn't keep them in my shoes!

 

[Snowy-girls]

misscrossbee-i hope you don't mind me asking a question about this card on your thread?.x.

So let me get this right(sometimes i have trouble when it's hot outside ).If i was to say put £500 on this card today-i would get todays rate? Then say i put more on next month, i then get it at that rate?.I am confused as in if i used it in the US on a certain day,do i only get that rate that is in the UK on that day which i will then find out after i get back home-or is that irrelevent as i already put money on in the UK + claimed my dollars/rate then?We don't go unitl next April-could i start putting money on now+not use it till then?(i know i have really confused you all,as i am really confused )But i am sure someone can help me.x.

 

[wickesy]

misscrossbee-i hope you don't mind me asking a question about this card on your thread?.x.

So let me get this right(sometimes i have trouble when it's hot outside ).If i was to say put £500 on this card today-i would get todays rate? Then say i put more on next week i then get it at that rate?.I am confused as in if i used it in the US on a certain day,do i only get that rate that is in the UK on that day which i will then find out after i get back home-or is that irrelevent as i already put money on in the UK + claimed my dollars/rate then?(i know i have really confused you all,as i am really confused )But i am sure someone can help me.x.

Hi Michelle,

You get the rate as it is when you put the money on, that is the point at which the currency conversion is made. The card itself is a $ card so there is no other conversion to be done. When you use your card the exchange rate is irrelevant because you are actually paying in $ rather than £.

Does that make sense?

 

[misscrossbee]

misscrossbee-i hope you don't mind me asking a question about this card on your thread?.x.

So let me get this right(sometimes i have trouble when it's hot outside ).If i was to say put £500 on this card today-i would get todays rate? Then say i put more on next month, i then get it at that rate?.I am confused as in if i used it in the US on a certain day,do i only get that rate that is in the UK on that day which i will then find out after i get back home-or is that irrelevent as i already put money on in the UK + claimed my dollars/rate then?We don't go unitl next April-could i start putting money on now+not use it till then?(i know i have really confused you all,as i am really confused )But i am sure someone can help me.x.

Don't worry Snowy - I get confused about these things too, which is why I threw it open to the forum just in case I was missing something.

I guess it's like buying travellers cheques, except that you get a credit card instead, with your credit limit being in dollars. I've probably confused you even more with that analogy now.

As far as I'm aware, you can start putting money on it now for your trip in April. The site says the card is valid for 36 months and then it expires (like a normal credit/debit card) and you can then get the balance transferred to your replacement card.

 

[Snowy-girls]

Don't worry Snowy - I get confused about these things too, which is why I threw it open to the forum just in case I was missing something.

I guess it's like buying travellers cheques, except that you get a credit card instead, with your credit limit being in dollars. I've probably confused you even more with that analogy now.

As far as I'm aware, you can start putting money on it now for your trip in April. The site says the card is valid for 36 months and then it expires (like a normal credit/debit card) and you can then get the balance transferred to your replacement card.

Thank you.x.No you did'nt confuse me with that.

Do you get charged for using it in the US,every time you use it? Is there a minimum spend per use?Thanks everyone who answers.x.

 

[Snowy-girls]

Hi Michelle,

You get the rate as it is when you put the money on, that is the point at which the currency conversion is made. The card itself is a $ card so there is no other conversion to be done. When you use your card the exchange rate is irrelevant because you are actually paying in $ rather than £.

Does that make sense?

Hi David,
You always seem to make perfect sense,thank you,much appreciated.x.

I did add to my post before i knew you had replied.So another question is we don't go until April 1st,could i purchase this card pretty soon+start adding money onto it now?.Is there a charge for each time i use it in the US?.x.

 

[kiearn]

You get charged $2 to withdraw cash from a US machine and £1 from a uk machine. Also if the machine you are using charges a fee you also pay this, like you do in this country.
It does not cost to use in the shops.

 

[wickesy]

Hi David,
You always seem to make perfect sense,thank you,much appreciated.x.

I did add to my post before i knew you had replied.So another question is we don't go until April 1st,could i purchase this card pretty soon+start adding money onto it now?.Is there a charge for each time i use it in the US?.x.

Yes you can buy it now and add on whenever you like. There's no charge for using it in shops and there is no minimum spend per transaction.

 

[Snowy-girls]

You get charged $2 to withdraw cash from a US machine and £1 from a uk machine. Also if the machine you are using charges a fee you also pay this, like you do in this country.
It does not cost to use in the shops.

Thanks,much appreciated.I would'nt probably draw money out in the US,but you never know.x.

 

[Snowy-girls]

Yes you can buy it now and add on whenever you like. There's no charge for using it in shops and there is no minimum spend per transaction.

Thanks David,much appreciated.What type of places can i use it in David? The theme park shops,Uni+IOA+Seaworld shops,Dining places like Bahama Breeze,Character meals(if the money has'nt already been taken out)?.Is it a chip+pin card?Say i came home+there was money left on it-what happens to it?
Is there anything else you can think of that you or anyone else on here has'nt told me+what i should know?.x.

 

[misscrossbee]

Snowy,

Here's the link to the FAQ for the card which you might find interesting.

https://fairfx.com/cardfaq

 

[kiearn]

You can use it in any place that takes Mastercard. Any money you have left over you can take out but there is a £10 fee.