What’s a fee free card?

Posted 1st Dec
Community Updates
I have an expired Revolut card and I think that was
but yeah good question
Hey @JawadAli A fee free card is one which charges no fees on transactions made in a foreign currency. For example, if paying in Euros the card company charges in Euros without charging a foreign exchange fee, using the rate provided by Visa/MasterCard without a markup. Examples of fee free cards include Revolut, Starling, Monzo, N26, Halifax Clarity, and Bó.

This is beneficial for many reasons. First of all, this means you don't need to exchange much money before going on holiday as these cards will not charge you a fee for making purchases or sometimes also cash withdrawals (some cards have cash withdrawal limits/fees).

Second of all, it means you can purchase items online from foreign stores at a cheaper rate. For example, you could buy from a European Amazon store in Euros instead of pounds which always works out cheaper as Amazon's exchange rate is so poor.
Edited by: "jamie15" 1st Dec
A card that's fee free
It’s can mean a few things. No annual fee (I.e £36 a year just for having the card) or no foreign transaction fees (.i.e you won’t get charged £2.50 every time you make a transaction in foreign currency).

Revolt card is an example of a foreign transaction fee free and no annual fee prepaid credit card. You top up the card from Apple Pay or bank transfer then you can spend only what’s on the card.

Halifax Clarity card is an example which is the same as the above but gives you credit which you need to pay some of the balance off each month. Other banks and building societies offer similar cards .i.e nationwide etc
Edited by: "cmdr_elito" 1st Dec
rboyo201001/12/2019 06:42

A card that's fee free

Not strictly true as there are default and late payment fees....
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