Prepaid Travel Cards guide

PeacefulWaters

greymoney wrote: »

No-one seems to mention the reaction of the trader or person abroad from whom you are purchasing with the use of a credit card. Do they not add a premium to the bill?

Some do. Most don't. A bit like the uk.

Travelman123

I have just received my Monzo card and noticed a warning that as it is currently in Beta stage it is best to carry an additional card. I was hoping to only carry one prepaid card. Has anyone had issues using the Monzo card?

eDicky

Travelman123 wrote: »

I have just received my Monzo card and noticed a warning that as it is currently in Beta stage it is best to carry an additional card. I was hoping to only carry one prepaid card. Has anyone had issues using the Monzo card?

I have not heard of any problems with Monzo until yesterday in the prepaid thread on the banking board, somebody had their card blocked. I think Monzo are unique in warning that you should carry backup, but it's never wise to rely on a single card when traveling, beta or not.

borntobemild

I'm wondering about both me and my husband getting Monzo cards so as to get around the £1000 limit in a month - two weeks holiday coming up and I'd like to take next to no cash with us and just withdraw euros as needed. We have a joint account - do you think they'd be happy to give us a card each, and would each card have a separate £1000 limit even though they're both attached to the same bank account?

eDicky

Each Monzo card will have its own limits as a separate account, regardless of how funded. They will be happy if you also use the cards for purchases, to give them a little revenue...

Markhy81

Hello just after a little advice please, i have recently got a Caxton FX prepaid Mastercard for a trip to Spain and was wondering if anyone had had any nasty surprises when withdrawing money from ATMs.

Read a few horror stories of people being charged extortionate fees from vendors when withdrawing money :eek:

Any advice on what ATMs to use to avoid any of these nasty surprises?!

Thank You in advance

Mark

eDicky

Markhy81 wrote: »

Read a few horror stories of people being charged extortionate fees from vendors when withdrawing money

Your card holds euros but will be recognised by the ATM as a UK card. It may offer to debit your card in pounds, so be careful, always select 'Without Conversion' and avoid any option that mentions pounds. Otherwise Caxton will charge to use your euro card for pounds and the ATM will give a terrible rate for changing the pounds back to euros! (There are much better cards available).

Markhy81

Caxton state they don't charge for ATM withdrawals?!

But they do however mention that I could be charged by the vendor?!

So if I just avoid all mention of £ I should be ok?!

Thanks

eDicky

Caxton don't charge for ATM withdrawals in the currency of the card, but if pounds are taken from a euro card there will be a fee or terrible rate or both.

If an offer of conversion, mentioning pounds and an exchange rate appears on the screen, make sure you decline it. Also make sure you pay for purchases in euros. Attempts to offer payment in pounds is common in Spain.

Gloomendoom

Just taken some money out of an ATM using a Clarity. Was offered an on the spot conversion rate of 1.02.

We declined.