Caxton FX card/prepaid travel card in Thailand - can anyone help?

[Wj99]

I recently used my Caxton FX global traveller card in Thailand in Krungthai Bank at 54.70 baht per £1GBP via the exchange booths. I was told this is the best way to avoid the 180/150baht fees from the ATM.

I withdrew 15000 baht which removed £292.35 GBP from my card. Using the bank rate of 54.7 and the caxton fee of 2.75% surely this is over the amount that should have been taken

As I'm here for a few weeks these fees will mount up!

2.75% of 15000 baht = is 125 baht (around £2.50) - Not the £20 that has been taken! Please can anyone explain to me the process as fees/charge of £20 to withdraw £300 is absolutely ludicrous!

Thanks all!

[IBoldnewguy]

Math error

15000*.0275=baht412.5/54.7=7.54GBP

15000/54.7=274.22+7.54=281.76-292.35=10.59GBP unaccounted funds. Don't know anything about that card but evidently you received a lower exchange rate than quoted. Is the 54.7 printed on the bank receipt? Does your card website itemize the charges to equal the 292.35 w/d.

Plus 2.75% is a high Foreign Transaction fee.

Sorry, the math caught me, I couldn't offer more.... when all else fails call card issuer for explaination.

[Jiu-Jitsu]

Caxton Global Traveller

Over the counter cash - international

£4.50 plus 2% of withdrawal amount

That accounts for the missing £10.

People really should check the fees and charges before proceeding.

[Wj99]

Hi all

Thanks for your responses. Yep - stupid me. Should really have read the t&cs completely but it was a case of getting the card a few days before travel and didn't read it through fully. Was hooked by the headline offers and the no fees advertisement.

I've now learnt my lesson - I'm new to this type of finance and have also have a Halifax clarity credit card that has an APR of 12.9% but no idea which ones best to use for purchases. Fresh faced and only have really used a debit card in my life and just purchased currency before going.

As I mentioned; thanks all for looking into it for me - a little over my head!