This is a process imposed by the merchant or ATM provider and not by Caxton FX.
The merchant or ATM should ask you if you wanted to pay in the local currency. When processing a transaction in sterling on your card, the retailer or ATM converts the transaction in your home currency with the intention of providing the exchange rate and, generally, you will lose out.
In order to avoid this happening, please check the payment or ATM screen or ask the merchant for the currency in which the transaction is being processed. If the value you are shown is in sterling, please ask that it be changed to the local currency to avoid DCC. You can find more information here
You can use your card in a country where you are unable to preload the local currency you will need to load your card in Sterling. When you use your card overseas we will use the MasterCard settlement rate and an FX mark up of 2.49% to exchange the funds.
With regard to the FX mark-up, the 2.49% relates to the margin we apply to the MasterCard settlement rate when converting your sterling into local currency.
- assume that the £ to € MasterCard settlement exchange rate is £1 = €1.25
- converting £10 would yield €12.50 and, with the 2.5% differential, £10 = €12.1875
Naturally, whilst the yield is lower than that represented by the MasterCard settlement exchange rate, it tends to be better than that offered by the banks.
Your card is loaded in sterling and those funds are not converted to the local currency until you make a purchase or an ATM withdrawal. The 2.49% margin is charged at that point since the transaction occurs in a currency different to that which is on the card.
If you lose your card, it's stolen or you suspect that your card has been used by someone, you must tell us as soon as you can by calling our 24-hour lost and stolen helpline on 0333 123 1812 from the UK or from outside the UK on +44 207 201 0526 when calling internationally. We will then cancel your card.
Please note you can block your card via our Android & iPhone app as and from within your account.
We have a few options if you have lost your Caxton card and need a replacement immediately. The first thing to do is to contact us to block it or you can block it via your app or from the website:
If you are still in the UK we can arrange a next day delivery card to your UK registered address by 13:00 GMT the next day (cut off time 15:00 for next day delivery) the charge for this is £20.
We have an option for a 90 minute delivery within zone 1 & 2 for London. (cut of time for same day 90 minute delivery is 15:00) The charge for this service is £40.
If you are oversees we can arrange a courier to delivery your card, this can take up to 10 days depending on where you are in the world and subject to any custom or flight delays, we can however provide an expected date of delivery. The charge for this is £60
You can change your PIN at any ATM that displays the MasterCard logo, however we would recommend you do this in the UK before you travel. You cannot change your PIN within your online account or using the app.
Caxton FX doesn't charge a fee for overseas ATM withdrawals. Be aware that some overseas ATM owners may charge you a fee. This is not Caxton FX charging you, this is the ATM owner.
Many ATMs in Thailand will charge for an ATM withdrawal, usually 150 Thai Baht (about £3), regardless of the amount you withdraw. A large number of banks in the US will also charge, but they normally inform you of this before letting you proceed. Unfortunately, if the ATM owner chooses to charge for a withdrawal, there is nothing we can do to prevent or refund this charge as it is not levied by us.
If you applied for and made the initial load via the app then you can immediately add further funds. If for some reason you did not complete the initial load or have removed your debit card via the website, you will need to register a debit card via the website.