Supercard Travelex Visa "Debit" - No International Fees
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Supercard Travelex Visa "Debit" - No International Fees

564
Found 12th Mar 2015
Visa Debit type card from Travelex. Charges no foreign transaction/conversion fees with the Visa exchange rate.

Sort of like a physical PayPal account as it's linked to your usual debit/credit card - your card will be charged in GBP. Interesting concept IMO and means I can close accounts specifically opened for foreign usage.

Fees apply for UK usage. It's not clear if cash withdrawals with a linked credit card would count as a cash or purchase transaction.

Launched May.

One clarification on twitter: you can only link to Visa or MasterCard, not Amex. twitter.com/Sup…745
- jnm21

Apologies for multiple edits - also confirmation that it will work for foreign websites like Amazon.de: twitter.com/Sup…960
- jnm21

Further cards released

564 Comments

Will UK banks charge for the debit transaction? That's the key. For example you can walk into a travel agent, buy currency, have your debit card debited in sterling and some banks charge you.

Original Poster

Ross81

Will UK banks charge for the debit transaction? That's the key. For … Will UK banks charge for the debit transaction? That's the key. For example you can walk into a travel agent, buy currency, have your debit card debited in sterling and some banks charge you.


Very good point.

Looks promising. Would be good to have Visa alternative to my Halifax Clarity reward card.
I imagine if you link it to a Credit card and use it for ATM withdrawal you ought to get it interest free too.

Ross81

Will UK banks charge for the debit transaction? That's the key. For … Will UK banks charge for the debit transaction? That's the key. For example you can walk into a travel agent, buy currency, have your debit card debited in sterling and some banks charge you.


Unlikely as its stating it will be a domestic transaction I.e one in the UK.

Sounds good this , will think .. Though Metrobank offer the same with no fees in the UK of course.

and like paypal with give you a poor exchange rate to make them some money. Link to engadget
Edited by: "AR2012" 12th Mar 2015

Does sound really good, signed up for the launch.....just wondering how they make any money off this. Maybe they skim a bit of the bank vs retail FX rate? Anyway sounds like a useful travel card,

Cheers OP

Not like PayPal, it says they charge the Visa exchange rate which means they won't be making any margin on the FX. Seems a good deal to me.

I've been pondering on this for nearly an hour and I still can't see the catch!!! Apart from the fact it's Travelex!

Limited amount of cards for free - might as well apply anyway

I'm sure there will be a catch somewhere ,possibly Exchange rates -but bears examination - A Tentative "Hot" from me -must look into it when I have the time .

Yeah signed up, nothing to lose in guess. Could work well with the Halifax Clarity.

drunk1

Yeah signed up, nothing to lose in guess. Could work well with the … Yeah signed up, nothing to lose in guess. Could work well with the Halifax Clarity.



Not sure that's the idea. Clarity has no charges - just charges interest on cash withdrawals. It'll still be a cash withdrawal I guess so will still attract the interest. This comes into its own when there ARE charges on the base card.

Doesn't look like that's gonna fit in my wallet

Comment

LesD

Not sure that's the idea. Clarity has no charges - just charges interest … Not sure that's the idea. Clarity has no charges - just charges interest on cash withdrawals. It'll still be a cash withdrawal I guess so will still attract the interest. This comes into its own when there ARE charges on the base card.



I just mean as it's Visa and not MasterCard. If it's fee free it's a good back up. Only registered interest so will check it out further once I need to apply or not for full T&Cs.

I suppose it may be that any spend is treated as a cash advance ,attracting interest ? haven't looked into it yet .

So is this good for Amazon.de purchases or do you still need say a clarity card ?

Sounds great - hopefully there is no catch!

Will cash withdrawals still affect your credit rating if completed abroad?

burtiec

Looks promising. Would be good to have Visa alternative to my Halifax … Looks promising. Would be good to have Visa alternative to my Halifax Clarity reward card.I imagine if you link it to a Credit card and use it for ATM withdrawal you ought to get it interest free too.

nationwide select credit card is a great Visa credit card with commission free use abroad, it uses the Visa exchange rate

Seems almost too good to be true so far! My only query that is unaddressed on the website is how cash advances work? If I travel to the U.S, and I want to deposit a chunk of money directly from my 'Supercard' to an account there, is there any charges?

Interesting and I'm interested.

Original Poster

I'm sorry sir, we only take landscape cards here

Mark300ZX

Will cash withdrawals still affect your credit rating if completed abroad?



Since when do cash withdrawals affect credit ratings?

Can't see the catch either! I have a pre load card with travelex at the moment and have had no issues. With the euro so weak at the moment it might be better to preload at the current rate of about 1.40 euro per pound though.....

So basically as there are no charges when used abroad, it will just debit your registered UK bank card at the current exchange rate? -am I right?
pretty smart idea possibly.

The 'JUNK' button is never far away if it doesn't work out...and I got an itchy trigger finger.

Registered. This will do for a backup overseas spend card.

I have been using Caxton FX cards for yeara for international travelling. No fees what so ever when abroad.

Original Poster

definition

Since when do cash withdrawals affect credit ratings?



For credit cards. It makes you seem desperate. I don't think it's a large factor but may be best to avoid for a mortgage for instance.

I am suspicious. No terms and conditions. Only promises. They speak like politicians. I have never trusted Travelex.

rogparki

I suppose it may be that any spend is treated as a cash advance … I suppose it may be that any spend is treated as a cash advance ,attracting interest ? haven't looked into it yet .



Presumably not if it's linked to a DEBIT card. So this could actually replace a Clarity card (if you only use it for cash withdrawals) and save the interest charges.

blackaqua

For credit cards. It makes you seem desperate. I don't think it's a large … For credit cards. It makes you seem desperate. I don't think it's a large factor but may be best to avoid for a mortgage for instance.



That's me dead in the water then! I've been using a Clarity card for overseas cash for some years now! I better have a word with Experian.

There's an article on Reuters - reuters.com/art…312 - you can read more about it and the margins they make (from Visa)...

There will absolutely be cash advance fees from credit cards.

I use kalixa card when I'm abroad. You can load it for free in the uk from your bank account and it charges no foreign transaction fees when used abroad. It also offers market leading exchange rates much better than any bank or building society.
The card costs £6.95 one off charge and they also text you every time you use the card with the amount and remaining balance.

frankyb

Not like PayPal, it says they charge the Visa exchange rate which means … Not like PayPal, it says they charge the Visa exchange rate which means they won't be making any margin on the FX. Seems a good deal to me.



Have read anywhere on the supercard website that the exchange rate will be set by visa?

Zak809

Have read anywhere on the supercard website that the exchange rate will … Have read anywhere on the supercard website that the exchange rate will be set by visa?



Definitely there, in the faq section - "Supercard processes transactions using the Visa Exchange Rate, with no commission or foreign-exchange fees added on."

Zak809

Have read anywhere on the supercard website that the exchange rate will … Have read anywhere on the supercard website that the exchange rate will be set by visa?



lHow does it work?


All transactions charged to Supercard are processed by your bank as domestic payments, rather than foreign ones – saving you bank roaming charges whether you’re in Bali or Berlin. To get started, add at least one of your existing credit or debit cards to your in-app Supercard mobile wallet - you can add up to 5. Once your Supercard arrives in the post you’re ready to spend! Your bank card is only charged when you use your Supercard, so you don’t have to preload your card with foreign currency, or buy any foreign currency upfront. Supercard processes transactions using the Visa Exchange Rate, with no commission or foreign-exchange fees added on.

I have checked visa exchange rate today its Euro 1.41 against mastercard rate euro 1.42 which Halifax clarity uses so its only 1 cent less than Halifax clarity card. So this is a great deal.

Timmylad1975

I use kalixa card when I'm abroad. You can load it for free in the uk … I use kalixa card when I'm abroad. You can load it for free in the uk from your bank account and it charges no foreign transaction fees when used abroad. It also offers market leading exchange rates much better than any bank or building society. The card costs £6.95 one off charge and they also text you every time you use the card with the amount and remaining balance.


Had a look at the kalixa card but they charge a fee (£2.25) for ATM withdrawals.....

As for the Travelex card - might be okay but if they are based in Gibralter who are they regulated by and how reliable/trustworthy are they likely to be? Think I will give this a miss.
Edited by: "gari189" 12th Mar 2015
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