Caxton Card

Caxton is a UK-based prepaid travel card that has been operating since 2002, making it one of the longest-established travel prepaid card services in the UK market. The card is issued on the Mastercard network and allows users to preload multiple currencies at rates set by Caxton at the time of loading — locking in the exchange rate rather than using the live rate at point of sale.

The rate-locking model is the key distinction from apps like Wise or Revolut that use real-time conversion. When you load EUR, USD, or AUD onto your Caxton card in advance, you are buying that currency at Caxton's current rate (which includes a margin above the market rate), and then spending from that pre-converted balance. This means your spending cost is determined when you load, not when you spend — which can be advantageous if you load at a favourable moment but disadvantageous if rates move in your favour after loading.

For travellers who prefer certainty over optimisation — knowing exactly how much you spent before the trip ends rather than reconciling exchange rate movements afterward — the prepaid currency model provides predictability. It is particularly appealing for budget-conscious travellers who want to set a spending limit in a known home-currency amount.

Caxton supports 26 currencies including major travel currencies (EUR, USD, GBP, AUD, THB, INR, IDR, JPY). Loading is via debit card, bank transfer, or faster payments. ATM withdrawals are available with a small fee per withdrawal. The Caxton card can be topped up mid-trip from the app if you run low.

Customer service quality is frequently cited positively — Caxton maintains a UK-based support team accessible by phone, which is unusual among digital travel cards. For travellers who prefer speaking to a person when issues arise, this is a genuine advantage.

The main limitation is the exchange rate itself: loading multiple currencies in advance at Caxton's rates, which include a margin, means the effective cost is higher than using a real-time rate card like Wise. For travellers who prioritise best rate above all else, Wise's real-time mid-market approach wins. For travellers who prefer the planning certainty of locking rates in advance, Caxton's prepaid model is a legitimate alternative.