An PostFX card

horsebox7

Hi guys,

I am travelling to the USA soon and am thinking of getting the An PostFx card (prepaid credit card). Does anyone know the details of the terms and conditions some of which seem quite vague. There are fees that apply that I would like to avoid if anyone can help?

1. Monthly inactivity fee debited from your card if it has not been used for 12 months. $3.50/£2.00

2. Shortfall fee $15.00/£10.00

3.Non-Emergency cash out fee through card services $9.50/£6.00


Thanks guys

InTheTrees

I worry about the "prepaid credit card" description. Is that a debit card or a credit card? It isnt really "credit" if its prepaid.

For renting a car in the USA, in 99.9% of cases you'll need a credit card and a debit card wont work.

A debit card is one that draws from cash you have on deposit and a credit card advances you money that you pay off every month.

American businesses specify Credit Cards because it means you've passed a credit check and are easily traceable if there's an issue. A debit card gives them no security. SO it goes beyond the cash involved and becomes more about ID, they want to know they can find you.

horsebox7

Thanks. Its a debit card. See link attached.

http://www.anpost.ie/AnPost/MainContent/About+An+Post/Media+Centre/Press+Releases/2013/Postfx.htm

InTheTrees

Is there a chance of getting a credit card? Otherwise you should phone the car rental company and ask (a real human) whether a debit card is okay. And be specific about it being for California because different states have different rules.

keltoms05

Alamo car rental will allow you to rent with a visa debit card

InTheTrees

keltoms05 wrote: »

Alamo car rental will allow you to rent with a visa debit card

In California?

Fiskar

Using the same pre paid card myself shortly over there. Can I use this in gas stations, main stores and diners?

InTheTrees

Fiskar wrote: »

Using the same pre paid card myself shortly over there. Can I use this in gas stations, main stores and diners?

As long as it has either a Visa or Mastercard logo on it then it'll be good in stores, etc.

dobsdave

Just back from New York, and used this as well as cash.
Found it very good, used in all shops/bars/restaurants/taxis etc.
You can check your balance online and its very quick to update (most of my transactions were viewable within the hour).
Don't use it anywhere that 'blocks' money in advance, i.e. checking in to a hotel.
When I got the card the person in the post office mentioned to avoid using in gas stations.

In one shop,Walgreens, I had to use the pin. Which is the first time I have ever used a PIN in the states apart from ATM's.

As for the questions in the OP:
1. Monthly inactivity fee debited from your card if it has not been used for 12 months. $3.50/£2.00

When you come back, cash it out, no inactivity fee

2. Shortfall fee $15.00/£10.00

Dont spend more than you have?

3.Non-Emergency cash out fee through card services $9.50/£6.00

Cash out at the post office when you come back, no charge.

horsebox7

Hi guys,

I originally posted this thread and have taken everyones comments on board. I have mined a little deeper into the detail here and have discovered that although the card has advantages such as there are no charges for purchases from merchants. When you go to purchase the card in an post the rate they sell you the dollars at is different to the actual rate therefore this is the equivalent to the currency conversion fee that a bank would charge if you were to use a credit/debit card.

For example the exchange rate today for is $1.376 for €1.00 but when you go to an post they will only give you $1.33 for €1.00. This equates to roughly a 3.34% difference which is in most cases grater than the currency conversion fees a bank would charge. This is my understanding but you can see a schedule of international transaction charges from AIB in the link below.

See pages 4-6 that deal with AIB debit and credit card fees.

http://www.aib.ie/personal/current-accounts/Schedule-of-International-FC

horsebox7

Also when you return from your holiday and have money left on the card the rate an post buy this from you at is not going to be the same rate as the rate you bought it at. There is also the €5 stamp duty fee too.

dobsdave

horsebox7 wrote: »

Hi guys,

I originally posted this thread and have taken everyones comments on board. I have mined a little deeper into the detail here and have discovered that although the card has advantages such as there are no charges for purchases from merchants. When you go to purchase the card in an post the rate they sell you the dollars at is different to the actual rate therefore this is the equivalent to the currency conversion fee that a bank would charge if you were to use a credit/debit card.

For example the exchange rate today for is $1.376 for €1.00 but when you go to an post they will only give you $1.33 for €1.00. This equates to roughly a 3.34% difference which is in most cases grater than the currency conversion fees a bank would charge. This is my understanding but you can see a schedule of international transaction charges from AIB in the link below.

See pages 4-6 that deal with AIB debit and credit card fees.

http://www.aib.ie/personal/current-accounts/Schedule-of-International-FC

Where are you taking the 1.376 from?

That looks like mid rate, you wont get that in any bank. Its more like 1.33 in the usual places.

horsebox7

http://www.xe.com/currencyconverter/convert/?Amount=1&From=EUR&To=USD

1.377 here now.

dobsdave

horsebox7 wrote: »

http://www.xe.com/currencyconverter/convert/?Amount=1&From=EUR&To=USD

1.377 here now.

Exactly, you wont get that in any bank, thats the rate the bank buys at.

horsebox7

You may not get 1.33 in a bank but when you go to the USA and use your debit card at a point of scale(i.e in a shop) you will only be charged 1.75%. This is the currency conversion fee. If you use your credit card at a point of sale you will be charged 2.75% (currency conversion fee).

To withdraw at an ATM using your debit card you will be charges 2.5% plus 1% commission i.e 3.5%.
To withdraw using credit card that is not in credit you will be charged 2.75% plus 1.5% = 4.2 %.
If your credit card is in credit you will be charged 2.75% only.

This is covered in the previous link. I agree that it is a good rate(1.33) for taking out cash from an post but be informed of your options which may be better for you.

horsebox7

The key thing to remember here is that when you go to get your card/cash you are paying what is equivalent to a currency conversion fee of circa 3.34%.

TingTong

We looked into this last year when we were going to the US. IMO there are too many charges and the exchange rate AnPost give is the worst of all the high street banks.

I think you would be better off just using your credit card as normal when you are over there. CC's always give a reasonable exchange rate and if you wanted you could check out what you spending online to keep an eye on your expenditure.

dobsdave

TingTong wrote: »

We looked into this last year when we were going to the US. IMO there are too many charges and the exchange rate AnPost give is the worst of all the high street banks.

I think you would be better off just using your credit card as normal when you are over there. CC's always give a reasonable exchange rate and if you wanted you could check out what you spending online to keep an eye on your expenditure.

So I checked BOI/AIB and credit union, an post matched if not bettered all of them.
I paid no charges for using the card.
Your credit card may give you a good rate but will also charge you a fx commission charge on each purchase.

Using the card I could check each purchase within minutes, takes days with your credit card.

keltoms05

InTheTrees wrote: »

In California?

Yup, heading over there myself in 2 weeks time. Booked it through www.rentalcars.com, u just have to call them when your booking it so they can let alamo know.

keltoms05

Just back from the states and found the fx card brilliant. The only time i had to use cash was for gambling in vegas, everywhere else accepted the card with no problems.

peckerhead

Just got a pair myself. Incidentally, although it says you can't change the PIN, the woman in the Post Office told me I could, at any Irish ATM that took MasterCards. I was a bit dubious, but I just tried it there and it went fine (I checked online afterwards and it had updated correctly).

Mars Bar

Can you get a statement to show how much is in your account too?

shanec1928

peckerhead wrote: »

Just got a pair myself. Incidentally, although it says you can't change the PIN, the woman in the Post Office told me I could, at any Irish ATM that took MasterCards. I was a bit dubious, but I just tried it there and it went fine (I checked online afterwards and it had updated correctly).

Cheers for that! just changed mine.:)

Fiskar

Hi Folks, just giving my two pence worth on this card as we are in the states. This card IMO is a PIA. Everytime we go to use it we have to show a drivers licence or passport, not something you bring to disney land or when out from the hotel.
First use in disneyland, the guy looked for the id for my missus but she had none so I showed him mine for her card. Transaction processed without pin.
Second transaction, same problem, again no pin request.
Third transaction, no id and no pin!
Tending to use cash but we put more on the card which we must use ahead of cash as we will only get the dollar equivalent back and I don't want to run out of cash. Would prefer to have taken cash.
Seems that if you lose the card anyone can use the thing without a pin and take their chances with ID, cannot wait to get rid of it.

Fiskar

Two bad retailers, both food outlets added amounts exceeding the signed total onto my card yesterday. Not happy, will be able to tackle one this morning but the other I cannot.
Over 11 USD in the 2nd case. Going to use an ATM from now on.

El Diablo Blanco

Travelling over to NYC in October, and thinking of going with the An PostFX card - anyone else used this recently on a trip to the States? Good/bad experiences with it, and was it accepted in most places?

Mars Bar

I found it very handy for filling the car as most petrol pumps have self service. I don't think I used it much in shops but I think it was only refused once.

Rataan

I am also heading to the U.S. in the coming weeks and am considering getting one of these cards because I don't want to have to carry a load of cash for fear it may be lost/stolen.

My question though: is this card just for people who don't already have a credit card? I have a credit card, and if I cleared my balance before going on holiday and then lodged 1000 euro on to the card, wouldn't I then have my own version of an An Post FX card with the dollar equivalent of 1000 euro? Are there any advantages/disadvantages to doing this?

jaymcg91

I use my Visa Debit card over there and it works fine, the bank exchange is rate is good enough that I barely notice the charges (apart from if I'm buying a bottle of water or something, then I notice because the amount is so small).

jccn

jaymcg91 wrote: »

I use my Visa Debit card over there and it works fine, the bank exchange is rate is good enough that I barely notice the charges (apart from if I'm buying a bottle of water or something, then I notice because the amount is so small).

Did you use your visa debit to pay for a hotel? Did you have any problems?

jaymcg91

jccn wrote: »

Did you use your visa debit to pay for a hotel? Did you have any problems?

Yep, no problems.

If they ask you if it's a credit card or debit card anywhere though, tell them it's a credit card (for some reason they process them our cards as credit cards - makes no difference to us though). When I said it was a debit card it didn't worked - the guy in Trader Joes said to try it as a credit card and it worked just fine - lesson learnt.

They'll just swipe it and the transaction is done (occasionally I've been asked to sign, but not often). If you're with AIB then transactions show up instantly just like in Ireland.