Bank Accounts

[andym]

@norm

So to summarise you don't have any direct knowledge of either NBS or the fairfx.com card.

Saying 'there are some dodgy prepaid cards is as useful as sayibg there are rip-off credit cards. Yes it's true but doesn't help people choose the right product.

What a pity that although you seem to have found yhe time to write a long post, you don't seem to have had the time to spend 2 minutes checking before you posted (heck how hard can it hsve been - the name fairfx.com is a pretty big clue as to where to find them).

A card costs £9.95 or is free if you top-up more than £500.

My card is valid for 3 years.

Charges, as I said are £1.50 for a withdrawal plus of course there is the difference between wholesale exchange rates and the rate you are given - this seems to be between 1.5 and 2 euro cents against the pound. The terms are completely transparent and if you can get a better deal from your bank or credit card, take it.

Or more to the point, if you have sp much expertise (more apparently, than MoneySavingExpert.com) maybe you could put it to constructive use advising readers of this forum where they can get a better deal.

 

[Norm]

Long post? Maybe I type faster than you but that took me about 60 seconds over a cup of coffee.

I have plenty of knowledge of NBS and the industry, I know much more than I would post on a public forum. I also know some of the individuals who have gone to Gibraltar to set up an alternative issuer because NBS are about the only player in the UK market.

As for fairfx, no, I know nothing of them. How long should someone spend doing research on something which is of no direct interest before they can answer? I posted some questions that I'd want answered before putting my money to someone in an industry as unregulated as the pre-paid card market.

Other questions include the maximum load amount in a single transaction, and the maximum that can be loaded over the period that the card is active, the maximum value that can be on the card. (I know the answers to these, as they are set by regulators not issuers, but I can't see an answer on fairfx.com)

What are the load fees for different types of card loads, such as PayPoint or Post Office loads, if such things are possible on the fairfx.com card?

I wouldn't give them a dime... I wouldn't even give them a dime of yours.

 

[andym]

Why spend a couple of minutes doing some research? Well maybe with the aim of helping other readers of this forum by giving them useful and factually correct information. If you had done some research you'd know that fairfx.com was rated the best deal of the pre-paid cards by MoneySavingExpert.com, who, unlike you, have taken the time to do the research. (BtW, again , if you had taken two minutes to check your facts, you'd know they have no load fees).

If you can come up with a better alternative please do.

And if you really have any knowledge of wrongdoing shouldn't you be reporting it to the regulators instad of making defamatory posts?

 

[Norm]

I found nothing about PayPoint or Post Office loads, which were the questions I specifically asked. However, they do say "1.5% charge for Credit Cards" whereas you say there are no load fees.

Most of what I posted was questions which I would want answered before handing my money over to a company which wasn't under all of the banking regulations.

Everything I posted was factually correct. Can you say the same?