Using and loading prepaid credit cards abroad

CraigMK

Hello people, im about to start a new business venture that is going to take me all over europe, I will be selling a product to retail outlets and will be dealing with cash, im thinking of getting a pre paid card and loading the cash onto the card, is there such a card that I can use abroad? and if so, what one do you recommend? I need one that will have quite a large limit to what can be loaded onto it, also, where would I deposit the cash onto the card? would it be a post office?

Thanks very much

Craig

eskbanker

http://www.moneysavingexpert.com/travel/cheap-travel-money#prepaid

eskbanker

On reflection, if you're taking in quantities of cash in different currencies (or are you confining this to Euroland?) and also spending significant amounts too, wouldn't you be better with a bank account?! As you'll have seen, the assumption behind most of the prepaid cards is that you top them up online, or in the likes of Travelex outlets for their one, and I'm not convinced that there's a card that offers a pan-European cash topup option....

CraigMK

Hello Eskbanker, thanks for your advice ect, i'll be working around Europe only so will only be dealing in Euro's, can I open a bank account in various countries if im not a resident? im going to be hopping all over europe too so that would mean having many bank accounts in different places, it might get a bit complicated, would just love to be able to have some kind of payment card and top it up as I go, it would make things alot easier

eskbanker

I was thinking of a single bank account accessible throughout Europe rather than one per country, I think HSBC do an international one. As far as I'm aware, a prepaid card wouldn't seem to offer the range of flexible cash-based top-up opportunities that I think you're looking for but happy to be corrected if anyone knows of anything!

NiftyDigits

Kalixa Pro? I have no idea of the cost involved.

Anthorn

It was precisely this problem that was highlighted when it was proposed that the European Postgiro system be dismantled. In those days you could have a Postgiro account in one country and deposit and withdraw in other countries. We could even open a bank account in European countries if we already had had a Postgiro account - I had one in Germany.

For its modern equivalent look up "European Bankgiro" although some countries (Netherlands when I last heard although it was taken over by ING) still hold on to the Postgiro name.

As far as I know Santander UK still participates in the system as did its predecessors Aliance & Leicester and National Girobank. But don't quote me on that. Perhaps inquire with Santander.

CraigMK

Thanks alot folks, you've all been a great help