Prepaid Travel Cards guide

Anthorn

NiftyDigits wrote: »

Another of your ludicrous posts.

Your post itself says that Monzo is a prepaid Mastercard and in that respect your post agrees with my post. So why is my post ludicrous?

Or are you referring to my post in which I say that Monzo says it's a bank but is in fact a prepaid card? The headline on the Monzo website declares, "Finally, a bank as smart as your phone" and amongst numerous references to being a bank, "We’re building the bank of the future, available now".
https://monzo.com/

So therefore my post is true and I have now proved it to be true and I don't see what is ludicrous about it. Perhaps you would like to explain further.

NiftyDigits

Anthorn wrote: »

Your post itself says that Monzo is a prepaid Mastercard and in that respect your post agrees with my post. So why is my post ludicrous?

Or are you referring to my post in which I say that Monzo says it's a bank but is in fact a prepaid card? The headline on the Monzo website declares, "Finally, a bank as smart as your phone" and amongst numerous references to being a bank, "We’re building the bank of the future, available now".
https://monzo.com/

So therefore my post is true and I have now proved it to be true and I don't see what is ludicrous about it. Perhaps you would like to explain further.

Your post is utter crud.

I distrust Monzo because they say they are a bank but they are obviously a prepaid card. I received yet another email declaring that it's Monzo top-up day to get my Monzo card but I still haven't done it!

There are more honest alternatives to Monzo for young people ...

...is utter rubbish.

You can join the Monzo Beta today to get a taste of what we're creating and help us make it amazing.

They say they are building a bank and they have a licence with restrictions at the moment.
Nevertheless, they are providing a Prepaid Mastercard with no fees, but yet you point money savers towards cards with an array of fees, for no good reason other some mental aberration of yours.

You really need to stop with this nonsense.

eDicky

The Loot prepaid debit card and account (provided by Wirecard) may be a new addition to the range of useful travel cards. If the card is delivered before my departure I'll give it a spin.

There are no fees at all for both UK and overseas use, except £1 per ATM withdrawal after the first two per month free. It gives the MasterCard exchange rate with zero loading. The limits for ATM withdrawal are £250 per day / £3,000 per month / £15,000 annual - more generous currently than other fee-free cards.

It features a sort code and account number and uses Faster Payments for receiving funds from, and sending to, anyone's UK bank account within two hours. I already tried both with small amounts and it works well. Top-up by debit card is planned. The in-app CS chat is quite quick to respond (on weekdays).

I must have installed the Android app sometime last year, then forgot about it when put on a waiting list - maybe there is still one.

https://loot.io/

lambosx150

Afternoon all,

as you know I asked for your advice for my 3 month visit to California in a couple of weeks time.

Today I loaded the cards

FairFX £1000 gave me $1231
Revolut £2000 gave me $2528

I do believe to have the back up card suits me incase one is lost or stolen.

Your help with the advice was appreciated.

Now for three months of snowboarding, cycling and the beach.

Thank you all:beer:

Pete

I've tried several companies and they all say the same thing you have to be 18yrs old. Reluctant to force my daughter to commit fraud by using a card I supply her. God knows what trouble the pair of us could get in with authorities here and abroad if it was found out. Also if she loses the card or worse it is stolen or she is attacked she will have to either not report the incident or incriminate herself and me. The alternative is not report the card stolen and just let the crooks take all the money on the card until it is empty! Looks like she will just have to use her bank card and pay the expensive charges. Seems odd I can't believe all the under 18 students doing gap years etc are carrying wads of cash around or paying expensive uk bank fees.

eDicky

Pete wrote: »

I've tried several companies and they all say the same thing you have to be 18yrs old.

Try this one, Soldo, if paying a few fees is preferable to all those imaginary repercussions:

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

Anthorn

Pete wrote: »

I've tried several companies and they all say the same thing you have to be 18yrs old. Reluctant to force my daughter to commit fraud by using a card I supply her. God knows what trouble the pair of us could get in with authorities here and abroad if it was found out. Also if she loses the card or worse it is stolen or she is attacked she will have to either not report the incident or incriminate herself and me. The alternative is not report the card stolen and just let the crooks take all the money on the card until it is empty! Looks like she will just have to use her bank card and pay the expensive charges. Seems odd I can't believe all the under 18 students doing gap years etc are carrying wads of cash around or paying expensive uk bank fees.

To qualify that, you have to be at least 18 years old to apply but not 18 years old to hold a card provided it is part of a family group headed by that over-18 person, usually a parent. Immediately coming to mind is Soldo and Gohenry both of which can be used by children overseas.

Anthorn

NiftyDigits wrote: »

Your post is utter crud.



...is utter rubbish.



They say they are building a bank and they have a licence with restrictions at the moment.
Nevertheless, they are providing a Prepaid Mastercard with no fees, but yet you point money savers towards cards with an array of fees, for no good reason other some mental aberration of yours.

You really need to stop with this nonsense.

If you don't have anything constructive to say then don't say it.

Perhaps it's a case of when is a prepaid card not a prepaid card? When it's a Monzo prepaid card ROFL

They say they are building a bank but don't produce any proof of that, there are no guarantees, not even a track record to speak of. I like longer established cards which is why I recommend them.

Spivved1987

How are people getting on with Soldo? The deal breaker for me is the ability to put money on the card in the UK and a few minutes later my son can withdraw cash from an ATM in Europe. Soldo also says the account can be managed on a tablet (though I presume still needs a smartphone for the initial set up of the account)

My son does not have a smartphone (his own personal ethics, not a financial consideration), so suggestions of using purely electronic methods are no use. It must have a physical card at the endpoint.

overloaded75

eDicky wrote: »

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.

Thank you for opening my eyes on the mid-market situation.
And on the free international transfers (how do they make money I wonder?) - that means they are a superior choice compared to transferwise as well.

Let's just hope it doesn't change soon.
I wish I could hit the button Thanks three times.:T