We've recently obtained a Travelex debit card and loaded it with Euros in preparation for our month trip to Germany/Italy in March. Has anyone used this card and has it worked OK for you?
Posted by
Knoxville, TN, USA
7209 posts
A simple ATM card will work best.
Posted by
Lakewood, Colorado
19284 posts
My advice on the Travelex Cash Passport (Debit) card - Don't even think about it!
The Travelex website lists the fees to use an ATM ($2.50), but they are deliberately vague about the foreign exchange discount. Most bank ATM cards charge you a foreign exchange fee ("discount", usually about 3%) when you get cash at an ATM. Travelex charges you the For. Exch. fee up front, when you load the card. The cost of a €1000 loaded card today is $1436.28. That's a foreign exchange discount of 9% over todays interbank rate of $1.3179/EUR.
That is a VERY BAD rate.
Posted by
Lebanon
711 posts
Hi Barbara.. I am afraid I totally agree with Lee. I would never use anything associated with Travelex. Their hidden fees are astronomical and if you lose it or it is stolen... just try to get ahold of them. AAA used to have a visa money card with them and even they got so many complaints, they now use someone else. Many banks are now using Travelex to sell euros here in the US instead of doing it themselves. We travel alot and in September checked with Travelex at a bank just for fun and they said the the rate was almost 2-1. when it was really $1.46 and getting better everyday. What you need to know is that people can make the rate of exchange anything they want now. Use your ATM cards or Capital1 credit card which has no foreign transaction fees.
Posted by
Tresana, Highlands Ranch, CO, USA
23642 posts
Barbara, I am afraid that we are not answering your question very well BUT why would you obtain the card and then ask if it worked OK. Because, if the answer is no, what are you going to do? As everyone has previous posted, the preloaded cards come with lots of hidden fees and some risk. You are mostly likely paying in the range of 10% or more for this card when the average debit card is 3% or less. It is not a good deal but what can you do now?
Posted by
Lakewood, Colorado
19284 posts
Frank, I'm sorry, I admit, I didn't read her posting very well, I thought she was asking if getting one was a good idea. Since I would never get one, I wouldn't know how well they work. However, the transactions in Europe are handled by what is called "the network" (Visa, MC, Cirrus, Plus, et al), who pay the ATM holder in Euro and collect from Travelex in US$, so, as long as it has a Cirrus or Plus logo on the back, it should work as well as any other ATM card, just more expensive.