Caxton FX offers a multi-currency pre-loaded card that allows you to enjoy spending abroad with comfort and no hassle. It also allows you to save money while you spend money overseas through their fee-free foreign transactions. You can access your account on their Caxton’s mobile app, over the phone, and through their online platform. 

This Caxton FX review tackles on how the company functions and the quality of service they provide along with its pros and cons. We focus on the significant aspects to helo you compare whether Caxton FX best serve your needs.

Company Information

Caxton FX prevails to be a small to medium-sized enterprise, with approximately over 100 staff as per LinkedIn records. The company has its single office based in London. Since it was established in 2002, the company proves to be a solid player in their own niche, targetting in specializing the services they offer.

Regulatory Compliance

Caxton FX is sufficiently regulated by the Financial Conduct Authority and HMRC in the UK. The FCA guarantees that your money is protected when utilising Caxton in case the company will undergo financial issues. They also convey that they are dedicated to anti-money laundering policy.

Awards and Recognition

Caxton’s most prestigious award is gaining the FX Provider of the Year, bestowed by the FT and Investor Chronicle Awards in 2018. They are frequently in the media, recognised numerous times each month by British newspapers concerning how they are as a travel currency service providers.

Exchange Rate & Fees

Fees

There are no fees acquired when utilising your Caxton card abroad. However, you will incur a £1.50 when using the card domestically 

Exchange Rates

Caxton FX does not publicly disclose their exchange margin as a flat rate. They have not announced any feature that allows you to lock in a rate, but it’s unlikely to speak more concerning the exchange rates considering that they do not embrace interbank rate, which Revolut does.

Limits

You can put a minimum of £50 onto your card. The maximum single deposit is £12,000 or £50,000 annually. Significantly, you must be aware that there is a £300 as you the maximum ATM withdrawal that you can transact in a day.

What currencies are offered through Caxton?

Currently, Caxton FX offers 28 currencies. The currencies they offer are as follows:

Currencies Offered By Caxton FX:

UAE Dirham (AED), Swiss Franc (CHF), Euro (EUR), Hungarian Forint (HUF), Israeli Sheqel (ILS), Norwegian Krone (NOK), Saudi Riyal (SAR), Swedish Krona (SEK), GB Pound (GBP), Australian Dollar (AUD), Danish Krone (DKK), Turkish Lira (TRY), Indian Rupee (INR), Czech Koruna (CZK), New Zealand Dollar (NZD), US Dollar (USD), Singapore Dollar (SGD), Israeli Sheqel (ILS), Canadian Dollar (CAD), Hong Kong Dollar (HKD), Thai Baht (THB), Japanese Yen (JPY), Polish Zloty (PLN), Thai Baht (THB), South African, Rant (ZAR)

Currencies you can purchase are as follows:

  • GB Pound (GBP)
  • Euro (EUR)
  • Canadian Dollar (CAD)
  • US Dollar (USD)
  • Australian Dollar (AUD)
  • Swiss Franc (CHF)
  • Danish Krone (DKK)
  • New Zealand Dollar (NZD)
  • Hong Kong Dollar (HKD)
  • South African Rand (ZAR)
  • Japanese Yen (JPY)
  • Hungarian Forint (HUF)
  • Polish Zloty (PLN)
  • Swedish Krona (SEK)
  • Norwegian Krone (NOK)

Global Reach and Coverage –  Caxton FX

Caxton FX does not hold enough of its global presence. However, their client support has been appreciated as seen in their reviews, there is not a dedicated dealer as well. The need for a global presence, however, could make it more difficult to reach them when far beyond the globe. Finally, the insufficient amount of that they handle or support means Caxton card is not something you can rely on when travelling to different countries and territories. It can be a great card though that you can use on setting off to a specific destination and travel.

Pros and Cons

 Pros In Using Caxton FX

  • Focuses on string ATM and card services
  • No fees for foreign withdrawals using the cash machines abroad
  • Positive client experiences

Cons In Using Caxton FX

  • Does not handles all currencies
  • Services are limited compared o other providers
  • Fees are imposed when utilising the card domestically

Alternative to Caxton FX

There’s a variety of options to utilising travel cards, but perhaps the biggest is the digital banking apps. In fact, the biggest player in this industry does not impose fees on some transactions such as withdrawals. You can check here to find out the best travel cards.

The Features Of Caxton Card and Additional Functionalities

  • Holds more than one currencies
  • Allows you to switch and manage currencies fastly
  • Caxton’s app lets you gain control over your card anytime
  • Allows you to order and top up your card without credit checks
  • Allows you to monitor and track your spending 
  • It lets you check and view your transaction and manage your travel money all in one place
  • You can block your card through the app in case you lost or misplaced it
  • You can lock in rates and elect to purchase Caxton’s Buy Back Guarantee (£4.99). 
  • No fees for making purchases or for ATM cash withdrawals overseas. 
  • You can simply load sterling when your destination currency is not feasible and the card will exchange to local currency instantly

Clients’ Feedback on Caxton FX

Positive

  • Guaranteed service
  • The app is easy to use
  • Excellent customer service
  • Product is strong 

Negative

  • Rates are better than their rivals
  • Faulty contactless function
  • Doesn’t work in several different countries
  • The app is having issues as claimes by some users

FAQS About Caxton FX

What are the limits of Caxton’s transactions?

  • Minimum Load: £50 or equivalent in other currencies.
  • Maximum single load: £12,000 or equivalent in other currencies.
  • Total Maximum Balance: £12,000 or equivalent in other currencies.
  • Maximum loads per day: Two.
  • Annual Maximum Load: £50,000 or equivalent in other currencies.
  • Maximum ATM withdrawal per day: £300 or equivalent in other currencies.

Is Caxton safe to use?

Money is loaded securely into the mobile app or online services. The Caxton card is ‘chip and PIN’ protected. This means no one can easily access or use it unless knowing your PIN. Besides, the funds on your currency card can be obtained through your account 24/7. 

Are there any additional costs that I need to pay?

The card is free and there is no regular fee that you need to pay each month. It is also free to load and reload the card. Purchases and ATM withdrawals abroad are free of charge as well. However, there is a £1.50 fee for domestic ATM withdrawals and transaction fees. 

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Company Details
  • Company Name: CAXTON FX LIMITED
  • Registration Number: 04610337
  • Incorporation Date: 2002-12-05
  • Status: Active
Contact Caxton FX Money Transfer Review
  • via Phone: +44 (0) 207 201 0526; +44 (0) 207 235 3435 Call
  • via Email:info@caxtonfxcard.com Email
  • via Post: 30 St. Mary Axe, London, England, EC3A 8BF