Caxton | Travel Money | Buy Back Guarantee

Buy Back Guarantee - One Load Example

Scenario: You load £500 worth of currency onto your Caxton card and purchase the Buy Back Guarantee (BBG) at checkout.

Step 1: You buy £500 worth of currency and select the BBG.
Step 2: You make a few purchases abroad and have £200 left on your card after spending.
Step 3: The BBG applies, and you redeem the £200 of unused currency at the same exchange rate that you purchased it for.

Outcome: You spent £300, had £200 left, and the BBG ensures you don’t lose out on the unused currency by buying it back at the original rate.

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Buy Back Guarantee - Multiple Load Example

Scenario: You load £1000 worth of currency onto your Caxton card and purchase the Buy Back Guarantee for that transaction. Later, you load another £500 and purchase another BBG for the new transaction.

Step-by-Step:

Step 1: You load £1000 worth of currency and purchase the BBG.
Step 2: You spend £700 abroad. At this point, you have £300 remaining from the first £1000 load.
Step 3: You load an additional £500 and purchase another BBG for this new transaction.
Step 4: You then spend £400 abroad. Because of the first in first out (FIFO) rule, the £300 remaining from the first load is spent first. The remaining £100 of the spend comes from the second load, which is covered by the second BBG.
Step 5: If you want to redeem the remaining £400 against a Buy Back Guarantee, its the second BBG rate that will apply.

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What is the Buy Back Guarantee?

The Buy Back Guarantee is a service that allows you to buy currency with the confidence that any unused currency will be bought back at the same exchange rate, so you don’t lose out. It’s available when you load your Caxton card with a minimum of £300 worth of currency.

Can I use the Buy Back Guarantee for any currency?

The Buy Back Guarantee (BBG) applies only to the currency purchased in that specific transaction. If you load more currency later and buy another BBG, it applies only to that new currency purchase.

Can I purchase multiple Buy Back Guarantees?

Yes! You can purchase a Buy Back Guarantee for each transaction where you load currency onto your card. Each BBG applies only to the currency purchased in that specific load.

How long do I have to redeem the Buy Back Guarantee?

You must redeem the Buy Back Guarantee within 90 days of purchase and within 30 days of your first overseas transaction in the guaranteed currency.

What is the FIFO rule when it comes to applying the Buy Back Guarantee?

FIFO stands for First In, First Out. It’s a method used to determine the order in which funds on your Caxton card are used when making overseas transactions. Under this rule, the first funds you load onto your card will be used first when you make a purchase, before any funds from later loads are spent.

When you load currency onto your Caxton card and purchase a Buy Back Guarantee (BBG), the currency linked to that BBG will be spent first. If you load additional currency and purchase another BBG, the funds from the first BBG will be spent before the second BBG is used. This ensures that the currency from earlier loads is always used before funds from later loads.