Caxton FX Review byCurrencyComparison.co.uk
3 out of
Caxton FX Review
Caxton FX has been voted 3/5 or 82% out of 301 recommendations. CurrencyComparison.co.uk has researched their Foreign Exchange Business so read our review below on this Foreign Exchange Provider.
Who are Caxton FX?
So who are Caxton FX? Caxton FX was founded in 2002 by Rupert Lee-Browne a management consultant for financial and media groups with a background in IT and start-up companies. The UK based, Caxton FX differs from traditional currency exchange firms by offering pre-paid currency cards as well as foreign exchange services.
Promising no overseas transaction rates, unlike their competitors, Caxton FX maintains they can beat other foreign currency exchange firms by paying no commission to their account managers. They feel this guarantees a pressure-free trade and an independent view on the best value from exchanges.
Caxton FX has three travel cards promising to deliver competitive exchange rates without incurring POS fees or ATM charges abroad (They do incur these fees when used domestically, however.). Another advantage is easy administration of employee travel budget and expenses
- European Traveller card will have Sterling or Dollars loaded to be spent in Euro, Dollar Traveller card will have Sterling or Euro loaded to be spent in Dollars and Global Traveller card will have Dollars or Sterling loaded to be spent in Sterling.
Caxton FX / A NEW STANDARD FOR INTERNATIONAL PAYMENTS
Why should I use Caxton FX?
Very rarely has a currency exchange company had so many scathing reviews as Caxton’s MasterCard has on TRUSTPILOT! 156 reviewers rated the travel card at 5.6 out of 10 points. Frustration was consistent with problems in loading money onto the card. These IT glitches were exacerbated by Caxton customer service consistently blaming customer’s banks and refusing to load money onto cards. Customers expressed rage at having to go abroad without their travel money, which had been mishandled by Caxton FX. Customer service, reviewers complain, was consistently too busy , or ill-equipped to fix the issues.
Another review site listed 7 reviews with a rating of 2.9 out of 5 stars. Two clients complained of long wait times on phone, both stating customer service wasn’t helpful. Another reviewer tried to use their card in Florida and found it refused several times.
A NEW STANDARD FOR INTERNATIONAL PAYMENTS
Caxton FX card can’t be trusted until the IT issues are sorted. The whole point in using the card is to be able to rely on great rates for travel money. The company wastes customer’s time when they have to make overseas calls to try to sort problems out. Given the fact that the client has already loaded their own money onto the card, Caxton FX makes an error when it holds the money, and therefore, their client hostage by keeping them on long distance phone calls or lengthy email processes when problems occur. Charging customers £50 to investigate problems is only adding insult to injury.
Registered office address: Portland House, Bressenden Place, London SW1E 5BH