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The best way to spend money abroad / online…

01 Mar

If there’s one thing that annoys me, it’s the way that banks screw you over when you do transactions in non native currency. Whether that’s purchases in the Android Market or holidaying abroad, it’s pretty annoying to get home and find a bunch of charges you weren’t expecting.

Over the past few years we’ve been using a FairFX card. I have a Euros card and a Dollars card – they are basically prepaid mastercards that you top up from your regular debit card and then use as required.

The FairFX card has always been excellent, but lately it’s gained a whole extra load of awesome so I thought i’d share it with you all. I really like…

  • no transaction fees!
  • previous card issue fee of £9.95 waived when you sign up with this link
  • currency rates that beat just about everyone
  • instantly updated balance online (great for keeping track of funds abroad)
  • easy to top up (I top up often from my mobile!)
  • no fees for adding funds (including no fees from your debit card provider)
  • available in dollars and euros
  • top ups are virtually instant
  • accepted everywhere that takes mastercard credit cards

The FairFx card also makes it a lot easier to keep track of what you’re spending while you’re away… I tend to preload it with my budgeted funds, and when / if it runs out, I know I need to cut down on the beer. :-D

The card normally has a £9.95 issue fee, but this is waived if you sign up via a referrer link such as mine. Each buddy you sign up also nets you £2.50… but I blog this genuinely – it has really saved me a ton of hassle on my foreign trips!

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3 Comments

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  • petermgates

    You should check out Metro Bank. Their standard current account gives you a mastercard debit card that is fee free for any currency (in a store and online). You get free ATM withdrawals overseas too.

    My other half works in foreign exchange and apparently the conversion rates are very close to the rates that the banks charge each other – in other words, as good as you’ll get.

    What’s the catch? Metro Bank only has 8 branches, all of them in the Greater London area

    HOWEVER they will sign you up for an account then and there and will even print your debit card while you wait – it took me about 30 minutes (plus another 15 waiting to be seen) so if you’re in London for the day and have an hour to spare then you should be fine.

    I’ve taken this card round Europe, Asia and Australia and it’s never failed me (except for Austria where they seem to have issues with it in supermarkets).

    https://www.metrobankonline.co.uk/Our-stores/

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  • Dave

    Can you use it in an ATM for free? If not, I don’t see how it’s better than my Nationwide Visa card which is also fee free and has decent rates abroad, but is a normal credit card so no hassle with topping up.