Can you advise how the Caxton fx Currency Card works?

I want to know how relatively easy it would be to transfer money (say part of a student loan) from a UK bank account to the Caxton fx card while I was on my year abroad in Hong Kong?

This question was asked by Matt Clarke , asked on 17th April 2015 and has been read 4633 times.

  • Hannah Roberts · 7 years ago

    It's been a lifesaver for me while I've been in Italy! There's a very simple procedure on the website where you can connect your bank card to the Caxton card, and from then on you can either download an app or go online to top up your card whenever. It's saved me loads of money in extra costs as it doesn't charge to use it in a shop or to take money out (this may be different in Hong Kong as it's not in Europe so maybe check that). Only thing to be aware of is to let your bank know the first time you're transferring your loan because they'll be suspicious of you transferring that much money across and will probably block it, so just give them a call. 

  • Katie Gough · 7 years ago

    Hi! I have been using a Caxton FX currency card on my year abroad and it has been one of the most useful things for managing money from my bank account back in the UK. Basically what you do is register your UK bank/card details online and then top up your Caxton Card. It is free to top up your card, so you wont have any international charges from your bank and it specifies daily what the exchange rate will be. It is also then free to withdraw from most ATMs when abroad. Note that when topping up a Caxton Card, you have to top up more than 150 pounds at a time, so it might be a good idea to transfer a larger amount, for example once at the start of the month. (I used a Euro Traveller card, you will have to check more specifically for the other cards).

    If you have a Caxton FX currency card you can also download an app for free that means you can check your balance, and top up your card wherever you are, which is incredibly useful!

    Also for paying larger amounts of money like rent, you might want to look into the Caxton FX Fast Pay service for International Payments, personally used this to pay my rent, thus avoiding hefty international charges from my UK bank.

    Hope that helps!

  • Emma · 7 years ago

    Very easy! I used one for my whole year abroad in Spain and Peru with no hassle at all. You can link the card to a bank card and then top up online or by text whenever you want, as well as being able to check your balance in the same way. It also has the advantage that you don't have to move all of the money over at once - handy for budgeting, whilst also meaning that they can't get hold of a lot if you are unlucky and it gets stolen. There are no charges on foreign cash points either, which could hit you with a UK card otherwise, unless that cash point just has its own charge for everybody. It makes life a lot simpler!

  • Georgina · 7 years ago

    I've been using a Caxton FX card for my semester in China and it's very easy - putting money on it is effectively a debit card transaction and the global one can withdraw any currency which is great if you go travelling. I think they've changed the system recently and I'm not sure how the new cards work but for mine I put money on in pounds and then just withdraw cash from a Chinese ATM in RMB and am charged the money I've taken out and a small percentage of each transaction in commission from what I've put on the card. There are no withdrawal fees whether you take cash out or pay for something using the card so you don't have to get loads of money out every time to make it worthwhile. You can also order a second card linked to the same account so if you were worried about losing one/ want to have a backup you could keep the second one separately just in case.

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