A prepaid Travel card is basically travel money on a card. The popularity of prepaid cards has grown steadily over the last few years and an ever increasing number of travellers are using prepaid Travel Cards as a safer, sexier and altogether more cost-effective alternative to traveller cheques, foreign currency and carrying cash abroad.
Prepaid Travel cards also mean that there are no nasty surprises when you open your bank statement after your trip! It is estimated that users are likely to save approximately 10% on their travel currency and up to 5% on the cost of using their UK debit/Credit cards by using a prepaid travel card.
Available in GBP, EUR, and USD, individuals will quite literally be getting foreign exchange rates that have traditionally been available to businesses as opposed to the inferior rates available at airports counters, exchange bureau’s and their banks and some providers pretty much provide the best rates in the industry.
The card is not linked to your bank account and this means that there is less opportunity for fraudsters abroad to have access to your bank account. A Chip & PIN Mastercard® prepaid Travel card also provides you with additional security when compared with cash. Being Mastercard branded also means that you can be use your card online, in-store and over the phone at over 25 million locations worldwide that accept Mastercard. Most providers also provide you with the ability of ordering additional cards for your family.
With an increasing number of travel agents, FX providers and others providing prepaid travel cards, the usage fees on these prepaid travel cards have decreased substantially making them an even more cost effective option.
Essentially for the consumer, prepaid travel cards provide excellent security, unbeatable exchange rates, savings on usage abroad with convenience to go – not to mention their use as a budgeting tool to prevent overspending on that “crazy night” in the bar or that “overpowering urge to shop” in the souk.
Benefits of Prepaid Travel & FX Cards
- It’s ideal for budgeting your holiday money
- You don’t need to carry cash, reducing the risk of loss or personal theft
- There’s no opportunity for fraudsters to gain access to your bank account
- Your card is easy to top up by text, online or at over 30,000 UK Payzone locations
- Extra cards can easily be ordered for other members of your family
- Chip & PIN Prepaid Cards – can be used to shop online, instore and over the phone at over 32 million merchants worldwide that accept that scheme and over 2 million ATM’s to make withdrawals
- Available in GBP, EURO, USD, AUD, ZAR, CHF, INR and many more
- Excellent FX rates – much better than what you’d get from a high street FX provider
If you wish to launch a prepaid Travel card scheme for your employees or customers, contact a prepaid card provider from our list of prepaid card providers.