Prepaid Travel Cards guide

overloaded75

"As far as I can see, Monzo and Revolut are currently the best choices as prepaid travel cards for regular use. Personally I've never tried WeSwap as it seems clumsy and laborious, unsuitable and more costly for spontaneous usage."

I tend to agree, although if your usage patterns are fairly predetermined WeSwap can be better (e.g. regular online payments in USD I have to carry out for services to companies abroad, or going back to my native country EUR). If you factor in the 0% 7 days conversion, and the fact it utilises a mid-market rate, I don't see how it can be beaten...

Many thanks for all other comments, you've clarified a few things.

Anthorn

eDicky wrote: »

As far as I can see, Monzo and Revolut are currently the best choices as prepaid travel cards for regular use. Personally I've never tried WeSwap as it seems clumsy and laborious, unsuitable and more costly for spontaneous usage.

Well, surprise surprise ROFL. Just out of curiosity, do you get commission from Revolut? Reasonable question in view of your posts.

"Regular Use" to me is related to functionality and fees, the higher the former and the less the latter the better and quite frankly Revolut fails in both those departments. But is Prepaid the right way to go? For example what about Halifax Clarity or MSE's top pick Creation Everyday Credit Card?
http://www.moneysavingexpert.com/travel/travel-credit-cards

But there are plenty more fish in the prepaid travel currency card sea and we really only find them if we search for them. For example the "Even" prepaid card has an annual fee of £50 with no fees whatsoever for the whole year!
https://evencard.com/#!/

My advice as always is "shop around".

overloaded75

Anthorn wrote: »

Well, surprise surprise ROFL. Just out of curiosity, do you get commission from Revolut? Reasonable question in view of your posts.

"Regular Use" to me is related to functionality and fees, the higher the former and the less the latter the better and quite frankly Revolut fails in both those departments. But is Prepaid the right way to go? For example what about Halifax Clarity or MSE's top pick Creation Everyday Credit Card?
http://www.moneysavingexpert.com/travel/travel-credit-cards

But there are plenty more fish in the prepaid travel currency card sea and we really only find them if we search for them. For example the "Even" prepaid card has an annual fee of £50 with no fees whatsoever for the whole year!
https://evencard.com/#!/

My advice as always is "shop around".

There seems to be some unhappiness about Revolut also here: https://goo.gl/8OZmcL - what are their rates really like compared to mid-market WeSwap?
However your accusation of being on commission is rude / uncalled for. I found his post very helpful. Whereas you seem to fail to add any useful details to this statement "frankly Revolut fails in both those departments".

I fail to see how 0% midmarket can be beaten if we are just talking about hard cash, so WeSwap is a very attractive option for that reason (they don't accept 3d secure, require swapping in advance etc., but still okay for me).

eDicky

overloaded75 wrote: »

There seems to be some unhappiness about Revolut also here: https://goo.gl/8OZmcL - what are their rates really like compared to mid-market WeSwap?
However your accusation of being on commission is rude / uncalled for. I found his post very helpful. Whereas you seem to fail to add any useful details to this statement "frankly Revolut fails in both those departments".

I fail to see how 0% midmarket can be beaten if we are just talking about hard cash, so WeSwap is a very attractive option for that reason (they don't accept 3d secure, require swapping in advance etc., but still okay for me).

There are those who, for whatever reason, feel the need to indulge in pointless personal attacks and illogical criticism of products that they have never used, but most of us tend to concentrate on providing relevant information that might be useful. My own frequent endorsement of Revolut is perhaps justified by having used it extensively enough for them to raise my annual limit to £100k.

The mid-market or interbank rates offered by WeSwap when you order seven days in advance are the same as those given by Revolut instantly (except weekends), although I'm not sure at what point in those seven days the WeSwap rate is fixed. Revolut's rates are updated every half second during weekdays when the market is open. In your case when you know exactly what you want to spend next week, you can make suitable use of WeSwap, but the way it functions would be much more limiting for most users than the relative versatility of Revolut, as far as I can see. WeSwap also, I think, has no facility to make free international transfers to bank accounts, or instantly between users (?), in the same way as Revolut.

FedUpWithHikes

The MSE article doesn't provide enough information.. I'd like to see if a poorer rate but no fees is better for me. I prefer to withdraw approx £30 or equivalent as needed, so ATM fees put me off.. but if I'm being 'charged' more via a lower exchange rate, maybe I should switch. (I am happy that the rate I do get is better than ordering currencies).
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tabbyabbie

I got the fairfx global card on mse recommendation but am finding bank atms charge between $3 and $7 to withdraw cash ( ANZ and bnz). Does anyone know of a bank in nz which does not charge?

Kiay

My 15 year old is travelling to America with school soon. Advice is that he use a pre paid travel card but I can't find one that will allow a 15 year old to use it? I'm Wary of getting a card in my name for him to use incase he gets questioned over having a card with obviously the wrong name on (we have different surnames). Any one any ideas? Many thanks x

eDicky

Kiay wrote: »

Advice is that he use a pre paid travel card

But they don't have any advice about which ones exist for that age group..?

Have a look at Soldo, you sign up yourself then take a subsidiary card for your son, administered by you. Good rates but various fees. (I don't use it myself.):

https://www.soldo.com/en-uk/c/family/

Kiay

The form just suggested travelers cheques or prepaid cards....that was the extent of the useful information:)
Thankyou for your suggestion...I will check it out!

Neil49

Kiay wrote: »

My 15 year old is travelling to America with school soon. Advice is that he use a pre paid travel card but I can't find one that will allow a 15 year old to use it? I'm Wary of getting a card in my name for him to use incase he gets questioned over having a card with obviously the wrong name on (we have different surnames). Any one any ideas? Many thanks x

The Monzo card doesn't have a name printed on it although it does have a signature strip on the back. It's a prepaid card loaded up in £ but the rate of exchange is one of the better ones.

There are other discussion threads on this and it is also covered in the prepaid card section of the MSE site.