FairFX Card

[Snowy-girls]

Snowy,

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

https://fairfx.com/cardfaq

Thanks very much.Sorry i keep asking lots of questions on our thread-but i am very careful when it comes to things like this+don't like to jump straight into something.Do you think you will be getting this?.x.

 

[Snowy-girls]

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.

Hi,Thanks as well,much appreciated .I am assuming that is alot of places then especially the ones i mentioned.I have never used any type of card in the US,only dollars+travellers cheques,so this is all new to me.x.

 

[wickesy]

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.

You can use it anywhere that accepts Mastercard. Looking at my transaction history I used it in the Contemporary Resort gift shop, Apple Store, Wal-Mart, one of the pin carts in Animal Kingdom, World of Disney and one other shop in Disney.

You do get a PIN with it but I was never asked for it and on occasion I didn't even have to sign, which is part of the Disney system of keeping queues down.

I have $7.69 sitting on mine at the moment and that will stay there forever and a day or until I spend it, whichever comes first. There is an expiry date on the card but if you have a balance left they will transfer it over to a new card for you less a replacement fee which, looking at the website, I assume is the same as the fee for replacing a lost or stolen card - £5.99/$12.00. You could also request a refund of the balance left on the card but they do charge a "cashout fee" of £10 for that.

If the card is lost or stolen you must report it to them, they will block the card and issue a new one. Again the joy of it being prepaid is that your maximum loss will be whatever the balance on the card is rather than losing a debit card where the thief can drain your account, or a credit card where they can run up to your credit limit, unless the bank blocks them in either case.

I don't think there is anything else you need to know. I treated mine as kind of a savings account before I went. I had a couple of months where (unusually for me) I had some spare money at the end of the month (rather than spare month at the end of my money ) so I just put it on my FairFX card and it paid for my holiday souvenirs, rather than wasting it at home or running up a credit card debt that I would have been paying off for ages.

 

[misscrossbee]

Do you think you will be getting this?.x.

I'll probably get one this week with a lump sum and then add to it as and when (and if) I've got anything spare in the coming months before my trip.

I think I'll also get my boyfriend one as a surprise - put some money on it and give it to him when we get there as a gift.

 

[wickesy]

I think I'll also get my boyfriend one as a surprise - put some money on it and give it to him when we get there as a gift.

Great idea, kind of the ultimate gift voucher.

 

[Snowy-girls]

I'll probably get one this week with a lump sum and then add to it as and when (and if) I've got anything spare in the coming months before my trip.

I think I'll also get my boyfriend one as a surprise - put some money on it and give it to him when we get there as a gift.

Excellent idea .x.

 

[Snowy-girls]

You can use it anywhere that accepts Mastercard. Looking at my transaction history I used it in the Contemporary Resort gift shop, Apple Store, Wal-Mart, one of the pin carts in Animal Kingdom, World of Disney and one other shop in Disney.

You do get a PIN with it but I was never asked for it and on occasion I didn't even have to sign, which is part of the Disney system of keeping queues down.

I have $7.69 sitting on mine at the moment and that will stay there forever and a day or until I spend it, whichever comes first. There is an expiry date on the card but if you have a balance left they will transfer it over to a new card for you less a replacement fee which, looking at the website, I assume is the same as the fee for replacing a lost or stolen card - £5.99/$12.00. You could also request a refund of the balance left on the card but they do charge a "cashout fee" of £10 for that.

If the card is lost or stolen you must report it to them, they will block the card and issue a new one. Again the joy of it being prepaid is that your maximum loss will be whatever the balance on the card is rather than losing a debit card where the thief can drain your account, or a credit card where they can run up to your credit limit, unless the bank blocks them in either case.

I don't think there is anything else you need to know. I treated mine as kind of a savings account before I went. I had a couple of months where (unusually for me) I had some spare money at the end of the month (rather than spare month at the end of my money ) so I just put it on my FairFX card and it paid for my holiday souvenirs, rather than wasting it at home or running up a credit card debt that I would have been paying off for ages.

Once again much appreciated .Are'nt you lucky,i can't think of anymore questions .Looks like i will be getting one of these .Thanks again everyone.x.

 

[natsworld]

Also thinking about getting one of these card's , but does anyone know how safe your money is once it's on the card i.e. if fair fx went under would the cash still be available for use. Just being a little careful as even the big banks are having it bad.

 

[madmumof2]

I was just thinking this too...

 

[katiec]

I have mentioned this to DH a few times - I think its a good idea but he's the money person in the house!!

His concern is what happens if the "bank" goes bust?? Do you have any comeback - after all unless you have spent your money the bank has it...and with the current climate what are the chances of getting your money back if things go wrong?

We have had a few discussions about this have have decided get TC's if the rate goes up to $2-£1, or maybe to use our Nationwide card, with a couple of hundred $$$ in cash.

We're just going to hang on and see... with fingers crossed!

 

[Babyboo]

Also thinking about getting one of these card's , but does anyone know how safe your money is once it's on the card i.e. if fair fx went under would the cash still be available for use. Just being a little careful as even the big banks are having it bad.

It shouldn't have any impact on your money if FairFx went under as the card is issued by the Newcastle Building Society who also issue Tesco's prepaid travel card.

So in the unlikely event that the Building Society went under you would have some major safeguards.

 

[madmumof2]

Phew! I was starting to panic there. Back to topping up then lol.

 

[wickesy]

Actually the conditions specifically state that if Newcastle Building Society were to go bankrupt then you WILL NOT get your money back.

If you choose to hold a balance of more than £1000 on your Prepaid MasterCard® Card you understand and accept the risks of holding this large amount of money and specifically that you may lose your e-money We, Newcastle Building Society, become insolvent and that the Financial Services Compensation Scheme does not apply to your Prepaid MasterCard® Card.

https://www.fairfxcard.com/cardtc.aspx

 

[madmumof2]

Do that include balances under £1000? If so, when I reach that mark I could book something, so I never go over?

How likely is that to happen? Has this got the same chance as going bankrupt as any othe bank? If so, I'm not too bothereed, but it any different because it's a pre pay?

 

[Babyboo]

Actually the conditions specifically state that if Newcastle Building Society were to go bankrupt then you WILL NOT get your money back.



https://www.fairfxcard.com/cardtc.aspx

Wow I missed that, although I don't think it would have stopped me getting a card.

I feel comfortable with the fact that my money is being held by a known Building Society rather than an internet based company.

 

[madmumof2]

Does that mean there's not really anything to worry about?

I mean, everyone has a bank account. They're just as likely for this to happen to them as Fairfx holders?

 

[Lizzybear]

I've never actually heard of Newcastle building society but i'm presuming it's a smaller organisation than the likes of HSBC, Lloyds TSB etc so theoretically could be at a higher risk of bankruptcy, though obviously I couldn't say if this was likely or not. I'm not trying to scaremonger here, it's just how I see things. Personally I wouldn't put too much money on a card like this for a long period of time purely because I would prefer to put it in a savings account and have it gain interest

 

[misscrossbee]

NBS has hit their profit target for the half-year and are on a recruitment drive at a time when the bigger banks are claiming losses and finding times are tough. So they must be doing something right (or else we're all putting a lot more money on our Fairfx cards than we're admitting!).

I'm glad I topped up when it was $2/£1 having caught site of today's exchange rate.

 

[The Fetherstons]

I was planning on getting one of these and just checked exchange rate, it has certainly dropped today , Im hoping it will go up again

 

[madmumof2]

NBS has hit their profit target for the half-year and are on a recruitment drive at a time when the bigger banks are claiming losses and finding times are tough. So they must be doing something right (or else we're all putting a lot more money on our Fairfx cards than we're admitting!).

I'd bet on that! lol With only a £10 minimum, I've been topping up litle and often every day, a couple of times twice a day! lol All for a very good cause though.

And that's very reassuring to hear. Where did you get that info from? I'd like to keep track.

I was planning on getting one of these and just checked exchange rate, it has certainly dropped today , Im hoping it will go up again

I know! It's still higher than everywhere else I've seen, which is good, but I hope it goes up again. I'm getting some backpay next week and was going to put it all on, so the higher the better!