Caxton FX review October 2019

A multi-currency card to make spending abroad easier, cheaper and safer.

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Caxton FX

Caxton focus their expertise on foreign exchange. They keep ahead of the market with innovative mobile-developments and online services.

Good for any prospective holiday-goer to bear in mind, though, is that while the traditional way of getting travel money is all well and good, there’s a range of digital apps that can make the process even simpler. These include Starling, Revolut and N26. If these new age solutions float your boat, you can read our guide to learn more about them. For a run through of the pros and cons of Caxton FX’s prepaid travel cards though, here’s all the info you’ll need.

What is Caxton?

Caxton provide multi currency pre-loaded cards to simplify and streamline spending abroad, while saving you money in the process.

Your account is accessible on Caxton’s mobile app, online or over the phone, making it easy to load your Caxton card before or during your trip. You can spend, fee-free, across the globe quickly and easily.

Caxton FX

Caxton FX Travel Card

Get better rates Euros, US dollars, and other currencies.

  • Card arrives in 3-5 days
  • Activate your card online or via the app
  • Transfer £100 onto your card to receive £5 cashback
  • Money will be usable on the card
  • Lock in currency rates today

    How does Caxton work?

    A multi currency card is a great way to simplify and streamline your holiday spending, especially if your trip requires more than one currency.
    Caxton’s smartphone app gives you 24/7 control over your card, enabling you to:

    • Order and load your card: With no credit checks, ordering your card is hassle free. Once ordered you will receive your card in 3 – 5 days and you can load it securely.
    • Manage Currencies: Switch and manage currencies instantly.
    • Track your spending: View your transaction history and manage your travel money all in one place.
    • Manage your card: If you lose or misplace your card it can be blocked via the app.
    • Lock in rates: At the time of purchasing your currency you can elect to purchase Caxton’s Buy Back Guarantee (£4.99). This means Caxton will buy back any unused currency at the same rate you bought it for.
    • Using your card: There are no fees for making purchases or for ATM cash withdrawals overseas. If your destination currency is not available to purchase simply load sterling and the card will convert to local currency automatically.

    What currencies are offered through Caxton?

    Currently, 14 currencies can be purchased on the card, and their exchange rates can be locked in, while 24 currencies are offered with Caxton’s online payment system.

    • GB Pound (GBP)
    • Euro (EUR)
    • US Dollar (USD)
    • Australian Dollar (AUD)
    • Canadian Dollar (CAD)
    • Swiss Franc (CHF)
    • New Zealand Dollar (NZD)
    • Hong Kong Dollar (HKD)
    • Danish Krone (DKK)
    • South African Rand (ZAR)
      • Japanese Yen (JPY)
      • Swedish Krona (SEK)
      • Hungarian Forint (HUF)
      • Polish Zloty (PLN)
      • Norwegian Krone (NOK)
        • UAE Dirham (AED)
        • Swiss Franc (CHF)
        • Euro (EUR)
        • Hungarian Forint (HUF)
        • Norwegian Krone (NOK)
        • Saudi Riyal (SAR)
        • Swedish Krona (SEK)
        • Turkish Lira (TRY)
        • Australian Dollar (AUD)
        • Czech Koruna (CZK)
        • GB Pound (GBP)
        • Israeli Sheqel (ILS)
        • Indian Rupee (INR)
        • New Zealand Dollar (NZD)
        • Singapore Dollar (SGD)
        • US Dollar (USD)
        • Canadian Dollar (CAD)
        • Danish Krone (DKK)
        • Hong Kong Dollar (HKD)
        • Japanese Yen (JPY)
        • Polish Zloty (PLN)
        • Thai Baht (THB)
        • South African Rant (ZAR)

    What are Caxton’s limits?

    Minimum Load: £50 or equivalent in other currencies.

    Maximum single load: £12,000 or equivalent in other currencies.

    Maximum total balance: £12,000 or equivalent in other currencies.

    Maximum loads per day: Two.

    Maximum annual load: £50,000 or equivalent in other currencies.

    Maximum ATM withdrawal per day: £300 or equivalent in other currencies.

    Is Caxton safe?

    Money is uploaded securely through the mobile app or online services. The caxton card is ‘chip and PIN’ secure.
    The funds on your currency card can be redeemed via your account at any time.

    Are there any fees I might have to pay?

    The card itself is free and there is no monthly account fee. It is also free to load and reload the card. Overseas purchases and ATM withdrawals are free of charge.

    However, there is a £1.50 fee for domestic ATM withdrawals and transaction fees. It might be a good idea to use the card exclusively for spending outside the UK.

    Where a Transaction is performed in a currency different from the currencies available on the card there is a FX mark-up of 2.49%

    Here’s a table of Caxton’s additional fees:

    Additional FeesFee Charged
    Replacement/additional Cards£5
    Buy Back Guarantee£4.99
    Over the counter cash£4.50 plus 2% of withdrawal amount
    ATM balance enquiry£0.30
    Redemption processing fee£1.50

    What’s the alternative to Caxton?

    There’s a range of alternative to using travel cards, but possibly the best of the lot is digital banking apps. The reason why is that most, if not all, of the major names in this field charge zero transaction and withdrawal fees. You can also manage the whole process on your phone, saving on the stress of having to make an appointment at your local bank branch or post office.

    Starling

    Take a Starling Bank card abroad

    • No monthly fees or fees overseas from Starling Bank
    • Apply in minutes, direct from the app
    • Best British Bank 2019 award winner
    • Get instant notifications & insights on your spending habits
    • Earn interest on your real-time balance
    Promoted

    Compare the best banking apps for going abroad

    Updated October 19th, 2019
    Name Product Foreign ATM withdrawals Foreign transactions fee Card cost Delivery speed
    £200 free monthly
    No fees
    Free with finder.com, otherwise card delivery is £4.99
    Up to 9 working days
    App-based current account with loads of extra features. (e.g. Real time transactions, payment categorisation, save spare change, free international money transfers, buy cryptocurrency)
    N26
    1.7% of amount drawn
    No fees
    Free
    5-7 working days
    App-based bank account that can be used on the go in any EU country. All about the ease of sending and saving money.
    Free
    No fees
    Free
    Between 3-5 working days
    Everything you get from a current account, but with new features for mobile living. (E.g. Goals for saving, spending catgorisation, interest on your balances)
    Withdrawals of £200/$200/€200 or more – free
    smaller withdrawals – a charge of £1.50 per withdrawal

    No transaction fees (if you spend in one of the 18 wallet currencies)
    Free
    Between 3-5 working days in the UK, or within 10 days if you live outside the UK

    Compare up to 4 providers

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    8 Responses

    1. Default Gravatar
      PeterNovember 26, 2018

      Which Prepaid Debit card can be loaded with Hong Kong, Singapore and Philippine currencies?

      • Avatarfinder Customer Care
        JhezNovember 27, 2018Staff

        Hello Peter,

        Thank you for your comment.

        Travelex Travel Money Card can also be used in the three countries you mentioned above. Just load it with the currencies you want to use.

        Since Singapore and Philippines are in Southeast Asia, you can check the prepaid travel money guide on this page for Southeast Asia.

        Also, if you’re looking for travel money to HongKong, you can check the guide here. I hope I was able to answer your inquiry.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

        Regards,
        Jhezelyn

    2. Default Gravatar
      AngelaNovember 1, 2018

      If I use ATM in Tanzania to get USD how much will I be charged if loaded in U.K. with USD?

      • Avatarfinder Customer Care
        JhezNovember 1, 2018Staff

        Hello Angela,

        Thank you for your comment.

        According to the Caxton FX’s website, they do not charge a fee for overseas ATM withdrawals. When you use an ATM overseas, the ATM owner may charge you a fee. This is not Caxton FX charging you, it’s the ATM owner.

        Please note that if your destination currency is not available to purchase simply load sterling and the card will convert to local currency automatically. If you loaded USD and you’re withdrawing in USD, there is still no ATM charge.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

        Regards,
        Jhezelyn

    3. Default Gravatar
      AngelaOctober 22, 2018

      Is there a charge if I don’t use my card for a long period of time?

      • Avatarfinder Customer Care
        JhezOctober 23, 2018Staff

        Hello Angela,

        Thank you for your comment.

        You may be charged an inactivity fee if you do not use your card for a certain period of time. If you have not used your card for a long period of time, it may have expired.

        Caxton FX confirms that there are no such dormancy or inactivity fees.

        Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

        Regards,
        Jhezelyn

    4. Default Gravatar
      NickSeptember 3, 2018

      I want a travel card on to which I can load £ and which will allow me to withdraw local currency. Please advise best card and also what ID is required to order such a card and AML requirements

      • Avatarfinder Customer Care
        CharisseSeptember 5, 2018Staff

        Hi Nick,

        Thank you for reaching out to finder.

        While we are unable to give recommendations, you can use our comparison table on this page to review and compare your options for travel money cards which will allow you to load pounds and withdraw in different currencies. You can click on “Go to site” button so you will be redirected to the provider’s website for the complete product details and complete the buying process.

        In order for you to buy the card, most providers will ask you to create an account or register afterwhich you will be asked to put in personal information and complete the process of buying the card. Most providers would ask you for a government issued photo ID however requirements may vary from one provider to another. You can check their FAQ pages to know more about the product like how to get started and how it works or contact these providers directly for further assistance.

        Hope this helps.

        Cheers,
        Charisse

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