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  • Charges abroad

    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.

  • Dynamic Currency Conversion (DCC)

    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

  • FX mark up explained

    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.

    For example:

    - 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.

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