Travelex Kills Its Fee-Free Supercard

By Ian Morris on at

Travelex offered its fee-free Supercard to keen travellers as a way to avoid steep charges when paying for things abroad. If you've been away then you will be aware that you get charged a one-off fee by your card company, as well as an exchange rate conversion which usually doesn't work in your favour.

The Supercard was essentially a pre-paid debit card that didn't actually require you load it with cash. Instead, you linked it to a bank account and used it like you would any bank card. You would still pay an exchange rate, but there would be no charge per-transaction. An app would let you monitor what you'd spent, and was available on both Android and iOS.

Travelex told customers in an announcement that there wasn't enough interest to sustain it in the long-term. Although Engadget says beta testers spent £1 million abroad before the card officially launched. Makes you wonder how much they needed customers to be spending to make it profitable.

The card will stop working on July 24th and customers are being asked to destroy them on that date. Users will be able to log into the partner app until October the 24th to see prior purchase records. [Engadget]