On my way to the United States in the summer I stopped at Travelex to buy some dollars. I was offered a special pre paid card caled a Cash passport. I was told the rate was better than cash. The card has a Mastercard symbol and the idea is that you load it up with cash and then withdraw cash abroad from ATMs as you need it.
I asked if there were any charges and was told no I asked if I would incur any charges when I withdrew my money and was told no. I asked again, though Travelex and Mastercard may not charge me fees, will I be charged a fee by the bank that runs the ATM in the other country. I asked this very explicitly. I was told NO. So I signed up for one of these cards.
Of course once I got to America and withdrew cash I was charged a fee so Travelex had been TALKING BOLLOCKS. I had thought I destroyed the card but I just found it and rang the helpline. After the usual bollocks of trying to fob me off with recorded messages about pressing other buttons or going tot he web site I spoke to someone. You can guess what they said when I complained about the fees. They said that they do not charge fees but they, or their operatives, cannot answer for the banks who own the ATMs. I explained that this was the point. The sales person had answered for the ATM owner and had lied.
I canceled the card.
I am not even sure of the point of these cards. If I have money already in my bank then why transfer it to another company and use their card. Why not just use my bank card? Miss-selling I call it.