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InsideFlyer UK has written about the Travelex Supercard a few times since it launched and I know it’s a popular product with many readers, so I take no pleasure in sharing the news that Supercard will stop working on Monday 24th July 2017.
The accompanying statement carries the most salient details:
“At Travelex we strive to develop innovative products that provide our customers with great value and exceptional service. Unfortunately, the costs of running Supercard and delivering the standards of service we expect have been much higher than anticipated. As a result, we have made the difficult decision to withdraw Supercard from the UK market.
If you are an existing Supercard customer, you’ll still be able to access the Supercard app after closure until Tuesday 24th October 2017, so that you can continue to review past transactions.
We are no longer accepting new registrations. Unfortunately, if you are waiting for your Supercard application to be processed, we apologise but we will not be sending out any new cards”.
Obviously this is bad news for Supercard users and anyone thinking of getting one. You can find a lot more information in the FAQs that have been put together here.
If you’re looking for an alternative to Supercard, it didn’t take rival ‘Revolut’ long to get in on the action via Twitter earlier today:
It’s never good to see a product that people use get closed down, or to see less competition in a market. If Travelex couldn’t make the numbers work for Supercard, it does make you wonder how healthy the rest of the ‘no exchange fee’ market is.