dznyboy

Yes...well
You have to transfer money from your bank account into the travelcash account using the currency that your bank account are.
When the money are in your travelcash account,you can from there,buy whatever currency you want using that money.
So...if you have 1000euro in your bank account,then just transfer 1000euro into your travelcash account.
If your bank account are in USD (or whatever),you first have to transfer 1000$ over to travelcash,then from there,buy euro,from that 1000$

aapee

The money transfer (at least from a Nordea Finland account) looks a bit suspicious - this is the first time a service outside Nordea domain asks for the next available PIN number.

Arctifox

I wanted to give it a try. I understand the general doubt about it, but if the exchange rates are not bad I think it might be something to consider, and at least in your country you can also get points by using it in your currency.

Anyway, after some trouble to activate the card I tried to figure out how to transfer money on the Travel Cash card.

However, the way you have to transfer the money is not something ANYONE should ever use: This "Trustly" called service (it keeps telling you that it's the safest in the world) seriously expects you to enter your login data for your bank account, theoretically giving them access to look and do on the account whatever they want.

As I am currently residing in Denmark, this means that they expect you to give them access to your NEM ID - which is used for everything government-related. Sorry, but this is insane. How can a service like "Trusty" be legal?

It doesn't seem like that there is any other way of transferring money on the account (except getting it from someone else who transferred it like this).

dznyboy

Hey.
Im not sure whats happend if you choose "Danske bank" when choosing a deposit.
But if you choose "other bank" you will get an accout number 8601......to Canute.
Just transfer (just as you do when paying a bill) any amount to that account number then that amount will be available in the cash account after 2 days.
---
As for exchange rates goes.
The rate you get are CHEAPER that buying cash,but more expensive that the rate you get by using a regular credit card.
This is a "cash card" so in my opinion it should be treated like cash,not as a credit card so the xhange rate are great.

Arctifox

Interesting. I assume you are from Norway? Because when checking again after your comment I saw that the option "other bank" is only available when you click "Norway", but not under "Denmark".

That would be an option then though, but I wonder why it is only available for Norway.

dznyboy

Hey again.
After thinking about it, i´m pretty sure that account number(11 numbers starting w 8601) are a Norwegian account number they use.
That is why its only available for Norwegians.
I would guess if your in Sweden then another account number will be used.
As you are in Danmark it can be allot different since this "cash card" branch
seem to be located in Danmark from what i can find out.
The bank that run the whole thing are Catella Bank S.A in Luxembourg,but since its SAS i guess they had to have a branch in Danmark.

http://www.catella.com/en/Luxembourg/Cards/

FT Guest xyzpdq

This sounds absoluttely insane. Giving Nem ID away is like signing a blank check. With that they can sell your house, divorce you and transfer whatever money they want from your accounts

CPH-Flyer

How does that even work??? NemID is either based on the paper code card, or an electronic token. Which is kind of difficult to give long term access to....

Abducted Alien

I don´t understand what are you talking about. For me there were just an one ask from my "nyckeltalslista"/ key list which is common when you make a bank account purchase from internet. They cannot access to our bank account, it was only that four digit number asked from key list, which alway changes and I can always delete whole key list and start with a new one.

Arctifox

I did contact them again about this and they told me that for now the available options are the only ones. I also asked about the manual transfer to the Norwegian bank account but they didn't mention anything regarding if I could still use that from Denmark. It's not very convenient anyway, as the expected currency there is NOK, so if I would use Travel Cash for something else than NOK then I just pay twice for currency exchange ...

@Abducted Alien:
I don't know how the system works in Finland, but in Denmark you have a so-called NEMID. You can access it by your username + password and a code from a paper code list (each code only once). With this combination you can sign in to e.g. your bank account and practically everything "official" like moving, etc. If you enter your nem id data and the token when you do the transfer, they basically log in to YOUR bank account and send the money and then immediately get the confirmation it happened. But: This password is not supposed to be used by anyone else than you. Even if they do transfer the money, they have access to everything that you can do within this one login session - which in my case would be: see all my account data, all my previous transactions, DO transactions, see mails from the government to you, etc. Theoretically they could also use the login token for signing on to something different as well, but then would not be able to do the bank transfer due to the token that can only be used once.

Just to be clear: I'm not saying that this is what they do or anything like that, but it is against every basic security principle to use a service like that. Everyone learns to not give away passwords to other people, so why would you give access to everything to a random company that pretends to be the safest payment method ever?

Sorry for this long post, I am just very disappointed by this. In the beginning I like the idea of this Travel Cash thing very much and would have loved to try it out, but after it was complicated to get my card activated it's just annoying to now see that they only offer a money transfer for inacceptable conditions.

FT Guest xyzpdq

I am completely with you on this one. Have not tried it myself. But this sound absolutely insane. Sound like it was designed by someone who have no clue of the personal financial system in Denmark

strikerbird

I phoned the bank today, they said that I can only transfer Norwegian kroners in. This is because my address in Norway.

SB

FT Guest xyzpdq

Nem ID is based on a tripple gateway principle: your used ID, your password and the 6 digit one-off pin.

If you give your user ID and password you have breached 2 of those gateways. Not exactly state of the art security.

dznyboy

That is correct.
Norwegians can only deposit NOK.
And Danish can only deposit DKR.
and so on.
This is do to the financial restrictions in different countries.
I know SAS had to work "overtime" (Travel Cash introduced approx 4 month later in Norway),on this, because of the strict Norwegian financial restrictions.
You can exchange your deposit NOK to any of the other currencies after you have transferred NOK to your Travel Cash account. (MAX 25000kr) total on the card.

CPH-Flyer

I misunderstood what was meant in the first post, there was a second post explaining how the issue arose. I was thinking in slightly different ways when reading the first post. Which was why I asked.
I do have a NemID, even if having a Tokyo base....