WeSwap Cash Card ... top up £50, get £10 free!

[Minxy]

This WeSwap card has been mentioned on the forum before however at the moment if you apply via the Money Saving Expert website when you top up with £50 or more you get an extra £10 'gift' for nowt!

http://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards#weswapeurodollar

It works a bit differently to the usual Cash Cards as you can choose when you get your exchanged cash and thus how much commission you pay:

1.0% if you wait 7 days (although free for first year for those who apply via MSE)
1.3% if you wait 4 days
1.4% if you want it immediately

The rate can vary depending on when the exchange takes place and give a similar rate to the interbank rate - it exchanges £ with people who want to swap € or whatever currency in return, a bit like 'peer to peer' lending but on currency swaps.

https://www.weswap.com/en/

I've just compared the rate at the moment (using £100 as an example):

Revolut: £100 = €117.21
WeSwap: £100 = €116.61 (plus commission)

Not saying whether it's good or bad but just an alternative to the usual cash cards.

 

[mitzimad]

we use a we swop and every time ive checked the rate is comparable to revoult usually the price you see includes the commision you sure thats right minxy?
weve had it about 4 years and bit flakey at first but last time abroad it was accepted every where

 

[Minxy]

we use a we swop and every time ive checked the rate is comparable to revoult usually the price you see includes the commision you sure thats right minxy?
weve had it about 4 years and bit flakey at first but last time abroad it was accepted every where

I can only say what I've read on the website so far as it doesn't say a lot and I've only just applied for the card, hopefully I'll find out some more info ... would someone else like to have a look instead?

 

[mitzimad]

it is a bit strange as you realy go into the swap blind but its always seemed to be better than most originally it was more like a spread sheet where you virtually picked your own swop

 

[Cossieg]

I've been using mine,in New Zealand for 2 months and it works well. Recommended really.

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[maxi77]

Mind you when dealing with a money changer nothing is free

 

[Minxy]

Mind you when dealing with a money changer nothing is free

You're right but they are quite open that they get their income from the exchanges.

 

[kip]

Been using ours in Spain for 3 weeks now on toll machines, automated petrol stations,ATM''s, shops & paying for camping. Wouldn't be without it.

 

[hilldweller]

Not saying whether it's good or bad but just an alternative to the usual cash cards.

Your link says up front that there are better deals with some credit cards.

There seems to be a gotcha in quite a big charge in getting cash under €200 you need to watch out for this. So putting in £50 for a tenner bonus won't be very productive.

 

[Minxy]

Your link says up front that there are better deals with some credit cards.

There seems to be a gotcha in quite a big charge in getting cash under €200 you need to watch out for this. So putting in £50 for a tenner bonus won't be very productive.

Only if you withdraw it at an ATM, not if you use the card to pay for something. Taking the £50+£10=£60 as an example which converts to approx €72, the commission you'd pay if you withdraw it would be €1.75, leaving you with just over €70 ... a 'profit' of just over £8.

But the benefit is that you've got a card for getting cash out abroad for free for a year if you always wait 7 days after exchanging it and draw out over €200 a time ... a good backup if you need it especially with Revolut now charging fees if you want more than €200 out a month.

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[hilldweller]

But the benefit is that you've got a card for getting cash out abroad for free for a year

We use CaxtonFX and Halifax. Sometimes my Co-op card in an awkward filling station or toll. I don't think we do too badly out of this and I have to say the Halifax has had some very pleasing on-the-day rates. So far Revolt or this does not insist I join right now.

 

[Minxy]

We use CaxtonFX and Halifax. Sometimes my Co-op card in an awkward filling station or toll. I don't think we do too badly out of this and I have to say the Halifax has had some very pleasing on-the-day rates. So far Revolt or this does not insist I join right now.

Not saying the WeSwap card is any better or worse, just an alternative. Not sure what you mean about joining now though ... when you take out any card you 'join' them?

 

[hilldweller]

Not saying the WeSwap card is any better or worse, just an alternative. Not sure what you mean about joining now though ... when you take out any card you 'join' them?

I realise what you are saying, just my take on it.

Join ? Yes you are joining in a scheme when to take a card out.