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  • FIRST POST
    • MSE Helen Saxon
    • By MSE Helen Saxon 28th May 15, 11:15 AM
    • 75Posts
    • 42Thanks
    MSE Helen Saxon
    0 WOW
    Prepaid Travel Cards guide
    • #1
    • 28th May 15, 11:15 AM
    0 WOW
    Prepaid Travel Cards guide 28th May 15 at 11:15 AM
    Hi!

    This is the discussion thread for the



    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.


    Thanks folks,
Page 38
    • scotsmiss
    • By scotsmiss 14th Apr 17, 1:31 PM
    • 1 Posts
    • 0 Thanks
    scotsmiss
    scotsmiss
    whats the best pre-paid card to use in Turkey?
    • declanmorris
    • By declanmorris 18th Apr 17, 7:09 PM
    • 1 Posts
    • 0 Thanks
    declanmorris
    Hi all,

    My first post so hope this goes as expected!

    I'm off to Venice soon and was going to get a prepaid currency card as I don't like the idea of carrying a lot of Euros around.

    Do Italian ATMs charge a fee to withdraw Euros using these prepaid cards?

    Thanks in advance for your help!
    • jupiter93
    • By jupiter93 20th Apr 17, 2:15 PM
    • 1 Posts
    • 0 Thanks
    jupiter93
    Had a chat with the Monzo guys and as they now have their full license, they will be sunsetting the prepaid card and moving people to the new current account. TBH, I dont really want yet another account and the prepaid card was great for me so guess I will have to look for other alternatives. Any suggestions? Im after a prepaid card with mobile app management
    • eDicky
    • By eDicky 21st Apr 17, 3:18 AM
    • 2,926 Posts
    • 1,282 Thanks
    eDicky
    Im after a prepaid card with mobile app management
    Originally posted by jupiter93
    I'm using Loot, seems ok: https://loot.io

    I don't have a problem with Monzo bank account as long as zero fees continues - but we don't know that yet...
    Last edited by eDicky; 21-04-2017 at 3:25 AM.
    • gettingtheresometime
    • By gettingtheresometime 23rd Apr 17, 10:51 PM
    • 3,065 Posts
    • 7,100 Thanks
    gettingtheresometime
    I'm going to NZ in December and had the brain wave of loading a prepaid card each month to try and even out currency fluctuations.

    Can I do this with a revolut card? The info on the app seems to suggest I can with no fees if I use a debit card.

    Also can I chose what currency is 'bought' ? Although I'm going to NZ so will need NZ$ primarily I'll need US$ as well as possibly AUS$ so would like to be able to swop around if that's possible.
    Lloyds OD / Natwest OD / PO CC / Wescott / Argos Card cleared thanks to the 1 debt v 100 day challenge


    Next on the list - JD Williams
    • eDicky
    • By eDicky 24th Apr 17, 3:59 AM
    • 2,926 Posts
    • 1,282 Thanks
    eDicky
    Can I do this with a revolut card?
    Originally posted by gettingtheresometime
    No, you can only hold GBP / EUR / USD on Revolut. You can find a card that holds NZD but it will cost you >2% every time you load it. This is likely to offset to some degree the advantage of your hedging against the perceived chance of GBP weakening further.
    • gettingtheresometime
    • By gettingtheresometime 24th Apr 17, 9:19 AM
    • 3,065 Posts
    • 7,100 Thanks
    gettingtheresometime
    No, you can only hold GBP / EUR / USD on Revolut. You can find a card that holds NZD but it will cost you >2% every time you load it. This is likely to offset to some degree the advantage of your hedging against the perceived chance of GBP weakening further.
    Originally posted by eDicky

    Thanks for replying


    Ideally I wouldn't want the card to be loaded in NZ$ (or AUS$ if I'm honest!)


    What I was thinking was loading it in primarily US$ (as the cruise ship we'll be on charges in US$) and £, so that if we needed NZ$ or AUS$ we could withdraw the money via an ATM
    Lloyds OD / Natwest OD / PO CC / Wescott / Argos Card cleared thanks to the 1 debt v 100 day challenge


    Next on the list - JD Williams
    • eDicky
    • By eDicky 24th Apr 17, 10:25 AM
    • 2,926 Posts
    • 1,282 Thanks
    eDicky
    What I was thinking was loading it in primarily US$ (as the cruise ship we'll be on charges in US$) and £, so that if we needed NZ$ or AUS$ we could withdraw the money via an ATM
    Originally posted by gettingtheresometime
    YES, Revolut would be ideal for this, but note there's no FSC protection so at least keep your pounds in the bank. You can load pounds with a debit card instantly at any time, your card(s) saved in the app, and convert to dollars instantly - but do that on a weekday for the straight interbank rate. Note the Fair Usage Policy terms.

    Pay with the card whenever possible because of the fee-free ATM limits, and make sure payment systems are charging you in USD (or the local currency) - often when they detect a UK card they try to take pounds and convert at their own lousy rate.

    Having Monzo and/or Loot in addition will cost you nothing, provide backup and additional ATM cash if needed, giving the straight MasterCard rate at the time of transaction.
    • gettingtheresometime
    • By gettingtheresometime 24th Apr 17, 12:27 PM
    • 3,065 Posts
    • 7,100 Thanks
    gettingtheresometime
    YES, Revolut would be ideal for this, but note there's no FSC protection so at least keep your pounds in the bank. You can load pounds with a debit card instantly at any time, your card(s) saved in the app, and convert to dollars instantly - but do that on a weekday for the straight interbank rate. Note the Fair Usage Policy terms.

    Pay with the card whenever possible because of the fee-free ATM limits, and make sure payment systems are charging you in USD (or the local currency) - often when they detect a UK card they try to take pounds and convert at their own lousy rate.

    Having Monzo and/or Loot in addition will cost you nothing, provide backup and additional ATM cash if needed, giving the straight MasterCard rate at the time of transaction.
    Originally posted by eDicky


    Thanks very much for all your help & patience
    Lloyds OD / Natwest OD / PO CC / Wescott / Argos Card cleared thanks to the 1 debt v 100 day challenge


    Next on the list - JD Williams
    • YogiOdie
    • By YogiOdie 26th Apr 17, 11:03 AM
    • 9 Posts
    • 2 Thanks
    YogiOdie
    Travelex vs WeSwap
    First post - newby
    Any advice re Travelex vs WeSwap?
    Traveling to Canada & USA June this year.
    Used Travelex previously in same countries and got conned by them at Toronto Pearson airport - did finally after much time and struggle get refunded.
    I notice in the latest MSE card suggestions that Travelex does not feature.
    I do not use a mobile/cell so will need to use my laptop for managing.
    Am I correct in thinking from the little I have so far gleaned from posts and articles that WeSwap is the better option?
    Thanks for any advice!
    • bobsy852
    • By bobsy852 26th Apr 17, 2:02 PM
    • 14 Posts
    • 1 Thanks
    bobsy852
    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
    • ReadySteady
    • By ReadySteady 26th Apr 17, 2:20 PM
    • 58 Posts
    • 26 Thanks
    ReadySteady
    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
    Originally posted by bobsy852
    Metro Bank debit card.
    Monzo: moneysavingexpert.com/credit-cards/prepaid-travel-cards#monzo
    • bobsy852
    • By bobsy852 26th Apr 17, 2:26 PM
    • 14 Posts
    • 1 Thanks
    bobsy852
    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?
    • eDicky
    • By eDicky 26th Apr 17, 5:15 PM
    • 2,926 Posts
    • 1,282 Thanks
    eDicky
    Any advice re Travelex vs WeSwap?
    Originally posted by YogiOdie
    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.
    • eDicky
    • By eDicky 26th Apr 17, 5:18 PM
    • 2,926 Posts
    • 1,282 Thanks
    eDicky
    I can't seem to find ANY that allow me to pre-load them with £ and then convert that to Czech Koruna?
    Originally posted by bobsy852
    The best value cards require no conversion until you actually use them; Revolut, Monzo, Loot. Take at least two in case of loss, failure etc.
    • YogiOdie
    • By YogiOdie 27th Apr 17, 4:57 PM
    • 9 Posts
    • 2 Thanks
    YogiOdie
    Travelex vs WeSwap
    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.
    • ReadySteady
    • By ReadySteady 27th Apr 17, 5:02 PM
    • 58 Posts
    • 26 Thanks
    ReadySteady
    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.
    Originally posted by YogiOdie
    Perhaps you can copy and paste where it suggests you will be charged in Canada by any of the cards suggested.
    • ReadySteady
    • By ReadySteady 27th Apr 17, 5:04 PM
    • 58 Posts
    • 26 Thanks
    ReadySteady
    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.
    Originally posted by eDicky
    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.
    • YogiOdie
    • By YogiOdie 27th Apr 17, 7:43 PM
    • 9 Posts
    • 2 Thanks
    YogiOdie
    Travelex vs WeSwap
    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.
    Last edited by YogiOdie; 27-04-2017 at 7:44 PM. Reason: Omitted relevant information.
    • ReadySteady
    • By ReadySteady 27th Apr 17, 10:14 PM
    • 58 Posts
    • 26 Thanks
    ReadySteady
    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.
    Originally posted by YogiOdie
    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/
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