Pre-loaded cash cards in S America

TheChoralFiend

Has anyone got any experience of using preloaded cash cards in S America? I see that they are going to charge me for currency conversion and that loading with Sterling results in higher charges anyway. I was wondering about loading with dollars as I've heard that the US dollar is treated as a second currency in Latin America, for example quite a lot of long distance coach fares are prices in dollars.

callum9999

TheChoralFiend wrote: »

Has anyone got any experience of using preloaded cash cards in S America? I see that they are going to charge me for currency conversion and that loading with Sterling results in higher charges anyway. I was wondering about loading with dollars as I've heard that the US dollar is treated as a second currency in Latin America, for example quite a lot of long distance coach fares are prices in dollars.

It is, but you won't get the option to pay with dollars via a card in most places though.

All preloaded cards have fees, why not get a fee-free debit or credit card?

And if you go to Argentina, take US dollars in cash (either from the UK or from a country like Uruguay where you can get it from ATMs) - you'll literally get twice the official exchange rate, effectively halving prices for everything you buy. Or you can transfer money to yourself using Azimo at a similar exchange rate directly from your bank account.

guesswho2000

TheChoralFiend wrote: »

Has anyone got any experience of using preloaded cash cards in S America? I see that they are going to charge me for currency conversion and that loading with Sterling results in higher charges anyway. I was wondering about loading with dollars as I've heard that the US dollar is treated as a second currency in Latin America, for example quite a lot of long distance coach fares are prices in dollars.

Might not be suitable, as I don't know your circumstances, but I got by using Halifax Clarity in Brazil and Peru, this has no fees for cash (bar interest, which is minimal if repaid quickly) or purchases, and uses the MasterCard exchange rate. Personally, I'd use a suitable debit/credit card over a prepaid card any day.

As for USD, I didn't have any and didn't need any, though I can't speak for the rest of SA (I've only come across this in Vietnam, where the USD is king even over the VND, in many places).

BlondBoy

Spent a year around Latin America using a FairFX card. It worked much more often than it didn't, although over the year it cost me a fair bit. Wished I'd had something like the Clarity card, in hindsight.

But the FairFX worked for me. You'll need not to panic if the ATM declines your transaction; Latin American banks are much more fussy about which cards they accept in ATMs. But in every country, I managed to find at least one bank that it worked with. If at first you don't succeed, keep trying...

Re dollars: no harm in carrying a stash for emergencies (maybe $100 or so), but in most countries you're better off dealing in their local currency really. (Of course, Ecuador and Panama use the US dollar as their currency anyway).

Would definitely agree with the post above though - changing US dollars in Argentina on the blue market will make your time there less expensive.

Hope that helps.