Prepaid Travel Cards guide
Comments
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HI everyone,
I'm off to Prague, Czech Republic, in a few weeks time. I've saved up for the trip but don't want to carry a load of cash around with me as I'll be mostly staying in hostels etc.
So I got looking into travel credit cards and was ready to apply for one. Before I did, as I'm hoping to also apply for a mortgage in the next month or so, I checked whether I should with my mortgage adviser. They strongly recommended that I don't apply for the credit card as it could hurt my chances of getting a mortgage.
So, instead I started looking at pre-paid travel cards. I've got no issue in getting one of these but I can't seem to find ANY that allow me to pre-load them with £ and then convert that to Czech Koruna?
I wondered if anyone on here could help?
Thanks
Metro Bank debit card.
Monzo: moneysavingexpert.com/credit-cards/prepaid-travel-cards#monzo0 -
Thanks ReadySteady.
While waiting for your reply I looked at previous replies and discovered Revolut. It seems this may achieve what I'm after also?0 -
I would use neither, this instead:Any advice re Travelex vs WeSwap?
https://uk.virginmoney.com/virgin/current-account/essential-current-account.jsp
The only cost is £1.50 per ATM withdrawal, but you can pay by card in Canada for most things.Evolution, not revolution0 -
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Thanks eDicky
A brief look at the link indicates at least in my understanding that I will need to pay a currency exchange fee in Canada but not in the USA or any countries in the EU.
I would prefer not to have to pay fees on transactions in Canada as that is where I will be using the card extensively.0 -
Thanks eDicky
A brief look at the link indicates at least in my understanding that I will need to pay a currency exchange fee in Canada but not in the USA or any countries in the EU.
I would prefer not to have to pay fees on transactions in Canada as that is where I will be using the card extensively.
Perhaps you can copy and paste where it suggests you will be charged in Canada by any of the cards suggested.0 -
I would use neither, this instead:
https://uk.virginmoney.com/virgin/current-account/essential-current-account.jsp
The only cost is £1.50 per ATM withdrawal, but you can pay by card in Canada for most things.
They are in the middle of changing their cards from VISA to Mastercard. Hopefully new customers will get Mastercard. Otherwise annoying to have to change within a month or two.0 -
ReadySteady I tried to link the relevant pages but unable as a new user.
The text that I think is relevant from the Virgin Money website:
"You apply for the card online, free of charge and load it from your debit or credit card* (€100 or $100 min). The amount of US Dollars or Euros you'll get for your payment is calculated immediately and will be shown on-screen."
There’s no fee for making a transaction in your card's currency. So you won't pay a fee when spending on your Euro card in a country which has the Euro as its currency. And you won't pay a fee for spending on your US Dollar card in any US state.** List of the 19 EU states in the 'Eurozone'.
You can use your card in other countries too (including the UK) but there will be a charge for converting the payment to the required currency. This charge also applies if you use the US Dollar card in the 'Eurozone' or the Euro card in the US."
My understanding is that you can load Euro's and US $ and if used for other currency transactions there will be a conversion fee from either Euro's or Us $ depending which is loaded on the card.
Please correct me if I am wrong - it is all new territory for me.
BTW this refers to the Virgin Money Prepaid Travel Mastercard.0 -
ReadySteady I tried to link the relevant pages but unable as a new user.
The text that I think is relevant from the Virgin Money website:
"You apply for the card online, free of charge and load it from your debit or credit card* (€100 or $100 min). The amount of US Dollars or Euros you'll get for your payment is calculated immediately and will be shown on-screen."
There’s no fee for making a transaction in your card's currency. So you won't pay a fee when spending on your Euro card in a country which has the Euro as its currency. And you won't pay a fee for spending on your US Dollar card in any US state.** List of the 19 EU states in the 'Eurozone'.
You can use your card in other countries too (including the UK) but there will be a charge for converting the payment to the required currency. This charge also applies if you use the US Dollar card in the 'Eurozone' or the Euro card in the US."
My understanding is that you can load Euro's and US $ and if used for other currency transactions there will be a conversion fee from either Euro's or Us $ depending which is loaded on the card.
Please correct me if I am wrong - it is all new territory for me.
BTW this refers to the Virgin Money Prepaid Travel Mastercard.
That is not the card recommended.
This is; https://uk.virginmoney.com/virgin/current-account/essential-current-account.jsp
eDicky even links to it.
Here are the relevant charges: https://uk.virginmoney.com/virgin/current-account/questions-and-answers/0 -
I'm curious how you came to their terrible prepaid card through the link I gave. It's their basic bank account, drop in to your local Virgin Money shop to open it, then use the debit card. 0.75% interest on the account as bonus.A brief look at the link indicates at least in my understanding that I will need to pay a currency exchange fee in Canada but not in the USA or any countries in the EU.Evolution, not revolution0
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