Travelex ,one of the largest consumer oriented foreign currency firms for the travel industry is withdrawing its”Supercard” from the market on July 24, 2017.
Now this has been an easy form of credit card for Brits when on holiday, such as to Greece which did not carry a currency conversion fee of 3%. This is normally the case for a regular credit card when added to your statement for a foreign purchase when statement is in pounds.
How did the Supercard work? Firstly it needed to be linked to one of your Visa or Mastercard accounts via Travelex.
At point of purchase the Supercard card would get swiped. Travelex would automatically convert your purchase into £ with no currency conversion fee and move the transaction, now in pounds, to your linked Visa or MasterCard credit card account.
The end result was all your Visa and MC rewards and benefits would accrue as normal yet save 3% in the whole process.
Withdrawing the Supercard has given way to the introduction of a new convenient card: the Travelex Money card (see attachment below).