FairFX cards

[Netty]

I'll have to dig my card out as i'm sure its up for renewal this July!
best thing we have ever used, much better than carrying travellers chqs around!

 

[Disneytinker]

Sorry if this is a silly question but what happens when you return from your holiday and you still have money on the card? How do you exchange it back over?

Sorry i am clueless

 

[wayneg]

Sorry if this is a silly question but what happens when you return from your holiday and you still have money on the card? How do you exchange it back over?

Sorry i am clueless

I assume its returned the way you paid it in but there is a fee. Probably not a good card to use if you have if you intend getting a refund, maybe others disagree but I don't like any fees involved with spending abroad.

Refund Fee £10 for Euro and US Dollar cards. 1.40% for £ Anywhere Card subject to minimum charge of £10

 

[Mad Mark]

We are using one of these for the first time this year, do you guys use it for buying small items for example buying a bottle water for $2? If so any issue doing that, do Disney have a minimum spend when using plastic?

 

[wilma-bride]

Sorry if this is a silly question but what happens when you return from your holiday and you still have money on the card? How do you exchange it back over?

Sorry i am clueless

If we have money left over, it just stays on there for next time

 

[wilma-bride]

We are using one of these for the first time this year, do you guys use it for buying small items for example buying a bottle water for $2? If so any issue doing that, do Disney have a minimum spend when using plastic?

There is no issue with using it for small items although we tend not to do that as it can be harder to keep track of your spending that way. We tend to use it only for paying for meals, large purchases (souvenirs etc.) and fuel. We take cash for buying drinks and smaller purchases.

 

[Disneytinker]

I assume its returned the way you paid it in but there is a fee. Probably not a good card to use if you have if you intend getting a refund, maybe others disagree but I don't like any fees involved with spending abroad.

Refund Fee £10 for Euro and US Dollar cards. 1.40% for £ Anywhere Card subject to minimum charge of £10

Thanks i think i have a lot of thinking to do, as i am hoping to get all my travel money at the end of this month

 

[Muscateer]

Ha ha there will be no fear of me having any money leftover on card.

I too intend to use mine for meals and shopping but will take dollars too for the smaller items that cost a few dollars.

 

[wayneg]

We are using one of these for the first time this year, do you guys use it for buying small items for example buying a bottle water for $2? If so any issue doing that, do Disney have a minimum spend when using plastic?

Can you get water for $2 in Disney?

As I said I use a credit card (Fee free Post Office card) but its accepted the same, you might come across the odd street cart that hasn't the abilty to accept cards but for the past 2-3 years I have used cards for everything I have spent. I only take around $50 in cash for tolls, card for everything else however small the transaction.

 

[loobzuk]

Are these cards better than traveller's cheques. We've previously taken a mix of currency and tc's but I keep hearing that tc's aren't as widely accepted now. As usual, I cannot make up my mind!

I also read that you need to be careful about not loading too much money onto the card because if the company gets into difficulties, your money is not protected (think Crown Currency)

 

[wilma-bride]

Are these cards better than traveller's cheques. We've previously taken a mix of currency and tc's but I keep hearing that tc's aren't as widely accepted now. As usual, I cannot make up my mind!

I also read that you need to be careful about not loading too much money onto the card because if the company gets into difficulties, your money is not protected (think Crown Currency)

I haven't used traveller's cheques in years. I had heard that they were going to be phased out but I think, certainly in Orlando, they are still pretty widely accepted.

As far as protection, the Fairfx Card is backed by Newcastle Building Society so it is them who would be liable if Fairfx went bust. I seem to recall seeing it mentioned somewhere that all the money is ring-fenced and, therefore, there wouldn't be a problem. can't seem to lay my finger on where I read it though.

 

[wayneg]

Are these cards better than traveller's cheques. We've previously taken a mix of currency and tc's but I keep hearing that tc's aren't as widely accepted now. As usual, I cannot make up my mind!

I also read that you need to be careful about not loading too much money onto the card because if the company gets into difficulties, your money is not protected (think Crown Currency)

Only place I know that stopped taking TC's is Golden corral, no idea if they do or not now, not been in for 3 years. A few reported problems at a supermarket on Hwy192(Publix/Walmart?) but not heard anthing for a few years so assume they are OK again.
I used to use Cash/Tc's but after losing my wallet with over £500 in a few years back I stopped, I got it back but was enough for me to change the way I spend. I also know 3 people/families who have had villas broken into and cash taken so I never advise cash.
For protection not sure Newcastle Building Society would be liable, I believe they hold the money but don't offer protection(I could be wrong) but the money is supposed to be ring fenced.
I voiced my concerns about Crown from the 1st time I heard about them, Fairfx seem to be nothing like Crown, they look to have a good business but I still wouldn't use them myself, I prefer to use someone elses money 1st then pay back, not give my money to someone else to keep for months.

 

[loobzuk]

this was what I read on the MSE website

What happens if the Prepaid card company goes bust?
All prepaid cards listed are backed by a bank or building society. If the prepaid card company goes bust then the bank or building society that issues the cards will be liable for your cash.

However if the bank or building Society who provides the card goes bust your cash is NOT protected. While with some institutions the money can be ring fenced in separate accounts (though it may be with the bank themselves) there is always a very minor risk as the money is not counted as a deposit thus not covered by the Financial Services Compensation Scheme.

Overall though the risk seems small.

 

[wilma-bride]

this was what I read on the MSE website

What happens if the Prepaid card company goes bust?
All prepaid cards listed are backed by a bank or building society. If the prepaid card company goes bust then the bank or building society that issues the cards will be liable for your cash.

However if the bank or building Society who provides the card goes bust your cash is NOT protected. While with some institutions the money can be ring fenced in separate accounts (though it may be with the bank themselves) there is always a very minor risk as the money is not counted as a deposit thus not covered by the Financial Services Compensation Scheme.

Overall though the risk seems small.

Yes, that is the basis of it. fairfx is backed by Newcastle Building Society, as I said above. If Fairfx goes bust, NBS are liable for the cash. However, if Fairfx AND NBS go bust,t hen you lose your money. It is a risk, albeit a seemingly small one, and you just have to ask yourself if you are prepared to take the risk.

 

[zippy99]

We do not do credit cards and with credit harder to get these days and best rate cards only offered to those with immaculate ratings it is not always easy to take advantage of these offers. In a society where too much credit has been given I think the pre-paid cards are a responsible way of saving and spending.

We had a FairFx card for our last trip and it was fantastic. Due to my redundancy so close to when we left we did not have much spending money saved. The day we flew was my husbands pay day and I was paid a week into our holiday.

With the Fairfx card I was able to top up my card at their excellent rate before we went to the airport and then again I could sit in Innovations in epcot and use the free WiFi to make another top up on my iphone (we calculated how much we would have spent on my son's tennis coaching, food and petrol back home and figured that is money we can spend whilst away!)

We did actually use it to withdraw lump sums of cash - yes their is a $2 fee but we would not use it for small amounts.

I still have $17 left on it which will be used on our next trip.

A thumbs up from me!

 

[tinkerbell 766]

Is there a maximum daily withdrawal limit on the card. We have vendors to pay in relation to the VR and they will need to be paid cash. All our money will be on the card, and I will need to get a large amount out of an ATM when we get over to the US to cover these payments. It would be easier (and minimize the ATM fees), if I can do this in one lump sum.
Thank you so much

 

[wilma-bride]

According to money.co.uk there is no withdrawal limit - you can withdraw as much as the ATM allows. You are limited to 3 withdrawals per day and no more than 10 over 4 days.

 

[tinkerbell 766]

Thank you so much

 

[orangetiggs]

i think the withdrawal amount i could get was $500 a time

we paid for our wedding out there with it

 

[kazdav]

Am I correct in thinking that there isn't a loading charge, so say if I wanted to put £25 - £50 per week on that would be fee free and the only charge applied is for ATM withdrawals. If this is the case how do they make their money, is it like a credit card where they charge the merchants