For ALL Pre-loaded cards / debit cards / credit cards - What is best for travel?

[MrC99]

I just needed a way to access cash as cheaply as possible on holiday and Starling seems to fit that bill.

I'll be interested to hear how you get on as I've been using Starling for a few years now and had zero issues. As well as general UK banking I use it to pay for card purchases in France as they give good (interbank) rates and no charge on usage. For those with € accounts abroad they also work out better for large € transfers than say TorFX.

 

[NeilDD]

@wessie
I've been using a Starling account for a few years, and it works well. No surprises and no additional costs

 

[AccyStan1200]

Anyone had an issue with a balance refund from Caxton? Used both Caxton and Revolut on trip to Europe, no issues with either card, just unable to obtain the balance refund on the Caxton card.

 

[wessie]

Anyone had an issue with a balance refund from Caxton? Used both Caxton and Revolut on trip to Europe, no issues with either card, just unable to obtain the balance refund on the Caxton card.

is this a sterling or foreign currency balance?

can you see any pending transactions on the account e.g. a preauthorisation that has yet to be cancelled?

https://helpdesk.caxton.io/hc/en-gb/articles/6190293970461-Can-I-have-the-balance-on-my-Caxton-Card-refunded-to-me

 

[Wapping]

Anyone had an issue with a balance refund from Caxton? Used both Caxton and Revolut on trip to Europe, no issues with either card, just unable to obtain the balance refund on the Caxton card.

How long has the ‘debt owed to you’ been outstanding’?

A day?

A week?

A month?

Five minutes?

A year?

Is this debt say, the balancing out of a pre-payment taken at a fuel pump, or is it (for example) you saying “Oi, Caxton mate, I’ve two euro and eight cents on me card and I want them transferred to me Christian money account pronto like”?

 

[wheelnut]

Another vote for Starling. Zero issues with it for drawing cash or using for card transactions.

 

[wessie]

Another vote for Starling. Zero issues with it for drawing cash or using for card transactions.

although they do not have agreements with banks in Spain so watch out for local ATM access fees. The fees vary quite a bit. Santander wanted 8 euros but a nearby Sabadell was under 2 euros. Apparently, a small number of the regional banks do not charge a fee but branches are few.

 

[wheelnut]

although they do not have agreements with banks in Spain so watch out for local ATM access fees. The fees vary quite a bit. Santander wanted 8 euros but a nearby Sabadell was under 2 euros. Apparently, a small number of the regional banks do not charge a fee but branches are few.

Yep - I tend to use mine mainly in turkey and while the government run banks are free to withdraw from, the private banks tend to charge a fee.

 

[Wapping]

although they do not have agreements with banks in Spain so watch out for local ATM access fees. The fees vary quite a bit. Santander wanted 8 euros but a nearby Sabadell was under 2 euros. Apparently, a small number of the regional banks do not charge a fee but branches are few.

If I encounter a flat fee charged by an ATM, I usually up the withdrawn amount, thereby at least reducing the fee as a percentage of the sum withdrawn. I know it makes no great difference in the overall scheme of things, it just makes me feel better for a brief moment.

The truth is, the need for chunks of cash (whether abroad or at home) are fast vanishing, if not gone all but completely. A good credit card (plus a spare) and a couple of cash cards for emergencies only, are all you’ll need on most jaunts. A few euro and a bit of shrapnel to pay for a coffee or two and maybe a taxi and that’s it.

 

[er-minio]

Italy is exactly the same.
That’s why I withdraw with Wise’s card. They get slightly less picky and most times you can find the zero fee ATM and not get shafted on exchange as the card is operating in euros directly.

Last year, in a rush, I did withdraw 50 euros while I was in Rome using either my Monzo or HSBC debit card. No atm fee.
52gbp debited

 

[Berin]

Anyone had an issue with a balance refund from Caxton? Used both Caxton and Revolut on trip to Europe, no issues with either card, just unable to obtain the balance refund on the Caxton card.

What do you mean by, ‘balance refund’?

You can withdraw any outstanding balance back to your funding card, or your bank. Or, it’s a cash card, you can just go to an atm and withdraw it. Do that from the app or the website. obvs. convert the balance back to Sterling, if it’s in foreign money before you do either.

You can’t do this if you’ve any pending transactions.

 

[Wapping]

What do you mean by, ‘balance refund’?

At the moment it’s a mystery, as is the time period.

 

[wessie]

The truth is, the need for chunks of cash (whether abroad or at home) are fast vanishing, if not gone all but completely. A good credit card (plus a spare) and a couple of cash cards for emergencies only, are all you’ll need on most jaunts. A few euro and a bit of shrapnel to pay for a coffee or two and maybe a taxi and that’s it.

in theory, yes, especially for solo trips where I use little cash. I generally have up to 200 euros as a contingency just in the payment system goes down as happened in Spain recently and Germany not long ago.

I have a couple in my touring group that insist on paying restaurant bills in cash and tipping as if in America, despite the bill clearly stating service included. I indulge them as they are getting on a bit.

 

[Wapping]

Yup. I guess a floating fund (divided between two wallets) is a good idea. If you use it, super. If you don’t, well (unlike cheese) it won’t go off.

 

[AccyStan1200]

Sorry for the delay in replying, I’ll add more hopefully answer some of the queries….

Used both the Revolut & Caxton cards in June this year, on trip to Germany, Austria, Italy…..both loaded prior to departure with roughly 500 pounds sterling, from my bank account. Paid hotel bills and for petrol, only at staff operated stations, not at the staff free pumps. On returning home had approximately £80 remaining balance on each card, requested a transfer of the balance to my bank account via the app on both cards, Revolut refunded immediately, Caxton declined. Thought at first I’d an outstanding payment on the card, waited a fortnight, tried again, still without success. I’ve since solved it to a certain extent by using the Caxton card to pay for fuel, incurring a £1.50 fee for each use. Stupidly checked the balance at an ATM, charged £0.30p for the privilege.

 

[OnHellas]

I’m almost certain that someone has asked this before, maybe even me, but…

What is the advantage of this type of card.

I have both a Barclaycard Visa and a Halifax Mastercard that are both totally free from foreign usage charges.
No fee for each transaction, nothing.
The exchange rate is the rate of the card issuer on the day which I’ve always been happy with. I don’t check it anymore though.

This morning I withdrew €300 in Portugal with the Halifax card from an ATM at a local bank. (I will pay interest on it as a cash withdrawal). The exchange rate offered by at the machine was spiteful so I declined that and went with what the card issuer gave me. I saved about £18!!
As a rule I also set off with Euro’s when travelling to a European country but a situation arose here and we needed cash.

Anyway, I digress. As a frequent traveller am I missing something?
Are those pre-loaded cards cheaper?
It seems ag to me with apps and moving money to and fro.

 

[Wapping]

In essence, the cards hold cash, rather like your conventional UK bank account does and are little different to your UK bank card ie. what we used to call a ‘cheque guarantee card’. They are used in much the same way.

The cash the cards hold, you ‘charge up’, in exactly the same way as you’d move money from a current account into say a deposit account, via an app or website.

The cards have a notional advantage as they can hold several currencies at once. In other words, they can hold say euros, pounds and dollars separately and simultaneously. This is useful only if you travel regularly into the euro zone or America.

Some people like them as they place a finite amount on how much they spend on their holidays, rather than simply whipping out a credit card and possibly losing track of spending. It also possibly reduces their fear of losing a credit card and the thief belting into a possibly significant credit limit before the loss is realised.

Are they difficult to charge? No.

Are there any downsides? Possibly / yes.

1. The amount of cash the card holds is finite. It will never be greater than the amount you have charged it up with. In other words, there is no overdraft or extended credit lit of any sort. This can be a disadvantage when buying fuel from automatic pumps, which often take a significant ‘holding’ debit, far in excess of the value of fuel bought. This, temporarily, reduces the available cash left, until the card / fuel company make a correction, which might take up to 24 hours. Likewise, some hotels have been known to debit a charge in advance of arrival, cat hing out the unwary, who find that (much to their surprise and annoyance) they do not have the cash balance they might of otherwise thought they had.

2. Some ATM machines might make a charge to withdraw cash, in exactly the same way as a credit card company (understandably) makes a charge for cash withdrawals. Similarly, some charge card operators, might themselves make a charge for withdrawing cash from an ATM, too.

If you don’t see the advantage of one, don’t have one. It’s not compulsory.

 

[wessie]

Are those pre-loaded cards cheaper?

no, for those going on holidays a couple of times a year all you need are standard credit cards and debit cards from banks that don't load the currency exchange rate. The preloaded cards are very much a legacy of the olden days and not good value for most travellers due to the fees they charge.

a few of these cards like Revolut and Wise are handy for those who travel often and/or have family overseas and want to hold balances in foreign money or buy currency when the exchange rate is favourable. Our resident Roman falls into this category.

 

[OnHellas]

no, for those going on holidays a couple of times a year all you need are standard credit cards and debit cards from banks that don't load the currency exchange rate. The preloaded cards are very much a legacy of the olden days and not good value for most travellers due to the fees they charge.

a few of these cards like Revolut and Wise are handy for those who travel often and/or have family overseas and want to hold balances in foreign money or buy currency when the exchange rate is favourable. Our resident Roman falls into this category.

Ah, OK. So it’s mainly about the exchange rate. Got it.

This year it will be about 3 months in Europe with the trips I’ve/we’ve taken and by the time we’re home from here.
I think that I’m happy spending as I go and settling our credit card bills each month.

 

[Noidea]

Have a look at Chase bank. Used their debit card to pay in local currency - don’t let the retailer offer the conversion. There are zero charges and zero currency conversion costs which is simply calculated at the actual exchange rate at time of each purchase. Just back from a month long trip through umpteen European and Balkan countries. The card worked seamlessly everywhere.