MY TRAVEL CASH prepaid currency card

Discussion in 'Motorhome Chat' started by benellioldman1, Aug 4, 2016.

  1. benellioldman1

    benellioldman1 Funster

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    Dont know if this is a scam. Just received a email from this company saying that they are closing down the business on the 4th Oct 2016. We have a tidy sum of Euros on this card and we are going on holiday 1st Sept to 26th Sept so this is tight. They have offered a refund into my bank account but that will be in sterling so will lose a fair bit, or we chance it and hope they keep there word about closing date. It does worry me that some of these companies are not covered if they go under. Does anyone else on here have money with them and have received the same message. Will check in the morning with the office to see if this is legitimate.
     
  2. chaser

    chaser Funster

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    Yeah we've had it, they havnt been taking on any new business for a while now, but according to the email I wouldn't worry about it as it says you will still be able to get your money repaid to the account it came from, after the time, but you will have time after your holiday even if you have some left.
     
  3. chaser

    chaser Funster

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    For anyone it may concern who havnt seen it


    Important information about your my Travel Cash MasterCard® Prepaid Card - closure notification

    We are writing to inform you that following a recent review, my Travel Cash has made the decision to withdraw the my Travel Cash Card with effect from 4th October 2016.

    We are providing you two months’ notice of this closure, in accordance with the terms and conditions of the card, to allow you to make any necessary alternative arrangements.

    To get details of the balance on your my Travel Cash MasterCard® Prepaid card, please access your account via www.mytravelcash.com or text CARD BAL to +44 7786 200690. You will need to use or recover your balance before the date of closure.

    The funds you hold on your card will remain available for you to spend until the closure date. During the two-month notification period, you can withdraw or spend any remaining funds on your card, free of charge, at any ATM or MasterCard® merchant. Alternatively, you can complete our Request Form to arrange for funds to be transferred to your bank account. If you do not wish to claim back the balance on the card you can choose to donate this to our nominated charity When you Wish Upon a Star. If you would like to do this, please confirm this via our Request Form.

    What happens after the closure date?

    With effect from 4th October 2016 your card will be closed, no further top ups will be applied and you will not be able to use the card.

    If there is a remaining balance on your card after closure, we will process a transfer to your bank account, if we hold your details on file. Where we do not have this option, your funds will remain within a secure holding, for six years basis the Electronic Money Regulations or until you contact us with your bank account details and make the claim.

    We would like to take this opportunity to thank you for your custom and cooperation; and apologise for any inconvenience the cessation of this service may cause you.

    Please do not hesitate to call us on +44 (0)20 3355 0134. Our telephone lines are open 24/7 should you have any questions.

    For any queries you can e-mail us at: support@mytravelcash.com.

    Kind regards,
    The my Travel Cash Team
    Web: www.mytravelcash.com
    Email: support@mytravelcash.com
    Phone: +44 (0)20 3355 0134
     
  4. Minxy Girl

    Minxy Girl Funster Life Member

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    You could get a Revolut card and then top it up with your MTC card funds in € so you wouldn't lose out - when we were kicking Ukash and FairFX into touch we got a Revolut card and then topped up with the € funds on them leaving zero balances.

    https://revolut.com/
     
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  5. chaser

    chaser Funster

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    Don't know whether to go for revolut or try for a nation wide card with all the other benifits it's got but from what I can see you have two dds every month, which I have at my other bank to get free banking plus 3% interest and don't want to change that.
     
  6. Minxy Girl

    Minxy Girl Funster Life Member

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    You could look at the Halifax Clarity credit card which is fee-free (unless you draw out cash in which case interest would be charged from the day you got it out) however some people get round this by in effect 'topping up' the account so it is in credit, that way if you draw money out at the ATM there's no interest on the cash as you're not in 'deficit' but you'd need to you keep track of your spending to make sure your always in credit:

    http://www.halifax.co.uk/creditcard...T7HiKRfy5wUcNlewEBg3RxzBUXMy04dTVYRoC8ODw_wcB
     
  7. Flamenca

    Flamenca Funster Life Member

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    Do you know whether it is possible to top-up a Revolut card with Euros from a Spanish bank account?
     
  8. NickNic

    NickNic Funster Life Member

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    You top up Revolut using a debit card so as long as you have one on the account then no reason why not.

    I'm not sure why you would want to though unless you plan on exchanging the Euros into another currency.
     
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  9. benellioldman1

    benellioldman1 Funster

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    So it is possible on line to swap Euros from one Euro Card (in this case My Travel Cash) onto another Euro travel card (New Card) I always had the idea that the card company worked on the assumption that you were depositing Sterling for them to give you a exchange rate in Euros.
    I am not good at working with the electronic world of today so a little confused that you can top up like this all I can remember seeing is them asking you how many pounds do you want to transfer.
     
  10. Bollard

    Bollard Funster

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    Downloaded the request form last night which was easy and requested transfer to my bank. No fee charged to do this. The downside it can take a few days and you get the rate on transfer. Looked up the top ten currency cards and ordered the Caxton Card. Hope this helps!
     
  11. benellioldman1

    benellioldman1 Funster

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    I have thought of doing this but seeing that we loaded it when the exchange rate was high we stand to lose a fair bit of money when converted back to Sterling again. Mel seemed to suggest that you could just transfer the euros you have on the card straight onto a new card I think I have read the post wrong. Thanks Bollard for your help
     
  12. chaser

    chaser Funster

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    I would think the easiest road out of this , which is what we are going to do, is when you go to Europe, just draw it all out, simples, no charges or conversion rates (y):)
     
  13. benellioldman1

    benellioldman1 Funster

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    Yes that is what we will do but I have this nagging thought in the back of my head about them saying one thing and then packing in early
    i trust no one since the financial crash and recent scandals, although I did ring head office up and they have categorically said that all the services (call centre) will be available and it is perfectly safe to rely on the card for money. Which card next then for 2017 hols this one was great ref no withdrawal charges but didnt have the highest exchange rate, you win some and lose some.
     
  14. chaser

    chaser Funster

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    You did get money back on purchases though , added up that did(y) I have been expecting this for a while and don't have a lot in, they stopped taking anymore customers quite a while back, don't know the reason why though it must be a good money spinner, having your money for maybe a year for no interest.
     
  15. richr

    richr Funster

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    We used a saga credit card whilst in HK NZ and Aus.
    Never drew money on it just paid for items and paid it off each month.
    Exchange rates were good etc and no charge for using abroad.

    Worth a look (y)
     
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  16. Minxy Girl

    Minxy Girl Funster Life Member

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    Trust me, you CAN transfer Euros from one card to a Revolute card, no need to change it to sterling at all ... I did it twice with moving my Euros from Ukash and FairFX, no loss of money, no commission, nowt - it just went from one card account to the other in Euros.

    The only reason it would go back to sterling is if you wanted to transfer it into a UK bank account as that's their normal trading currency.
     
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  17. rosalan

    rosalan Funster

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    Not being a clever chap with finding the best financial deals, we continue using our Norwich and Peterborough card which, if you put a minimum of £5000 into their bank, all charges overseas are free. It may seem a lot of money but we just leave it with them all year and add an amount we anticipate spending. One year we mislaid our card and had to pay with another leading banks card. I was amazed how much more it cost. Another bonus is paying tolls, which are very quick with a card payment and in this case, even the cheapest toll is worth paying by card.
     
  18. Minxy Girl

    Minxy Girl Funster Life Member

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    I've just had a quick shuftie at N&P Gold Classic Account and they don't pay interest so are you saying you have an average of £5,000 a year and they don't give you a penny? o_O
     
  19. rosalan

    rosalan Funster

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    Dear Mel
    As long as N & P have a minimum deposit of £5000 sitting in their vaults, any purchase made overseas carries no extra charge. I believe that they may be the only bank offering this facility.
    Lloyds offer cinema tickets or a magazine and some other perks but just try using their card when away from home and watch the charges mount up.
     
  20. busby

    busby Funster

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    HALIFAX credit card does the same,,,
     
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