Pre-paid Travel cards (Revolut, FairFX etc) info about possible charges (1 Viewer)

[Minxy]

Got a prepaid travel card? You may soon be charged a £2/mth fee if you've not used it due to the pandemic

If you've got a prepaid travel card you may be hit with a £2 monthly fee if you haven't used it in over a year, which could impact many given the coronavirus pandemic has largely scuppered travel plans since March 2020. Here's what to watch out for and what you can do to to avoid being hit by...

www.moneysavingexpert.com

Also Revolut are going to restrict how many ATM withdrawals you can make once you go over £200/€200 etc:

ATM Withdrawals​

If you're on a Standard plan

As a reminder, there is currently a GBP 200 limit on free monthly ATM withdrawals on our Standard plan. After this, you begin paying a 2% fee. We are changing this, by adding a limit on the total number of ATM withdrawals as well, and by setting a minimum fee once your free allowance runs out.

Going forward:

• Your GBP 200 free monthly limit will remain the same, and once you hit it you will still begin paying a fee.
• We are also introducing a limit of five ATM withdrawals as well. Once you hit this, you will also begin paying a fee.
• Both of these limits apply independently. You will start paying a fee as soon as you hit one, even if you don’t hit the other.
• The fee is still 2%, but we are adding a minimum fee of GBP 1. This means you will pay the greater of GBP 1 or 2% of the withdrawal.

 

[SMB]

Caxton pre-paid card also has this dormancy fee policy as well as I found out though I only had a couple of quid on it. I have better options now so just keep it as a backup option.

 

[Madcaravanner]

The main point is with Revolut I don't withdraw cash on it so the charges are irrelevant to ME
I found long ago that IF I need cash in Spain I use my Santander Card in a Santander machine it costs nothing except commission

The main reason for the Revolut card is to buy food and fuel which you can now (a few years ago their card would not work on a 24hr fuel forecourt)

 

[2657]

No dormancy fee with Revolut, £200 per rolling month ATM, there is nothing in that article about any withdrawal number limits nor on my Revolut app.
That article actually puts Revolut at the top of the recommended list.
I would hardly call a £2 charge being stung.
I don't consider Revolut to be a prepaid currency card, it is a virtual bank account.
Edit: Just checked the Revolut website and it does say a free limit of 5 withdrawals a month which I can't really see as a problem given the £200 limit.

 

[Reallyretired]

Only just cottoned on to the Caxton dormancy fee. I have had 230 euro sitting in my account since last summer and I find they have been charging me 2.30 euro a month for the priviledge of me lending it to them. I have now withdrawn total balance.

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[Riverbankannie]

I was pleased a few days ago to transfer money into my Revolut account, internally exchange into Swedish Krona and then transfer to my sister’s Swedish account all free of charges.

 

[Googlebot]

I got rid of the FairFX card after the fiasco of it being frozen last year with £1200 on.

I now use a Halifax Clarity credit card.

I was on a Post Office card but since they were taken over by Jaja, their customer service was dreadful and they charged me late fees and interest when they actually had my money so they can jog on.

It’s a minefield.