Prepaid Travel Cards guide
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in this link, the following is written:
1) This card from Monzo* charges no fees at all – it's free to spend and withdraw cash (though individual ATMs may charge). Plus, it uses the rate set by Mastercard, which is near perfect.
While the exchange rate's theoretically not as good as the interbank rate used by some of the cards below, we've heard of the Mastercard rate beating it occasionally. Let us know what you've experienced.
2) For Revolut, it say "The prepaid Mastercard from Revolut works using its app and gives perfect interbank rates..."
Then under Key Questions, it says "How good is Revolut's exchange rate? Revolut's exchange rate is the best you can get for the majority of currencies, as it uses interbank rates, which tend to be slightly higher than Mastercard's or Visa's rates. "
Should that be that it is "lower" as under Monzo text, it says the exch rate is not as good as the interbank rate?0 -
Should that be that it is "lower" as under Monzo text, it says the exch rate is not as good as the interbank rate?
Revolut don't offer interbank rates on all currencies and apply a markup during weekends, so which card is better for you will also depend on which currencies you spend and when you spend.0 -
it uses interbank rates, which tend to be slightly higher than Mastercard's or Visa's rates. "
Should that be that it is "lower" as under Monzo text, it says the exch rate is not as good as the interbank rate?Evolution, not revolution0 -
Hello everyone I'm Rupesh and I'm new to the forum and I need some travel money advice. I'm travelling to southeast Asia more specifically Cambodia, Malaysia and India for a couple of months in September and i'm currently looking for the cheapest way to spend my pounds in Cambodia with minimal charges.
Cambodia is a essentially a dual currency country where US Dollar is used for transactions above $1 and Cambodian Riel for below. I've been reading advise on the website in regards to travel credits cards, debit cards and pre-paid cards. However I'm unsure as to which one I should use as I don't want to carry a lot of cash.
I currently have money saved up in my HSBC current account however I do not currently have a regular source of income so I'm not eligible for a credit card as I found out from the Eligibility calculator on MSE. So currently only prepaid cards/overseas debit cards seem to be the only options available to be.
Would you guys be able to advise me as to which I should get as i'm guessing in i will need to withdraw money more often in Southeast Asia.
Regards
Rupesh Mishra0 -
My daughter got a pre loaded Euro card from Thompson (it was convenient at the time) She has noticed that the amount available for withdrawal is less than the amount she put on it. She has paid HER moneyto get the card why are they keeping some of HER money?
I guess that they will caherge her some fee to discharge the final balance back to her.
Has any one any thoughts on this?
I have just got a Fair FX card. I cannot see any small print saying the amount I have to spend is restricted.0 -
My daughter got a pre loaded Euro card from Thompson (it was convenient at the time) .Evolution, not revolution0
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I guess that they will caherge her some fee to discharge the final balance back to her.
Has any one any thoughts on this?.Evolution, not revolution0 -
in this link, the following is written:
1) This card from Monzo* charges no fees at all – it's free to spend and withdraw cash (though individual ATMs may charge). Plus, it uses the rate set by Mastercard, which is near perfect.
While the exchange rate's theoretically not as good as the interbank rate used by some of the cards below, we've heard of the Mastercard rate beating it occasionally. Let us know what you've experienced.
2) For Revolut, it say "The prepaid Mastercard from Revolut works using its app and gives perfect interbank rates..."
Then under Key Questions, it says "How good is Revolut's exchange rate? Revolut's exchange rate is the best you can get for the majority of currencies, as it uses interbank rates, which tend to be slightly higher than Mastercard's or Visa's rates. "
Should that be that it is "lower" as under Monzo text, it says the exch rate is not as good as the interbank rate?
Interbank exchange rate is updated a few times a day practically could be less than an hour depending on the fluctuation of the currency exchange rate.
MasterCard global exchange rate is updated once in a day.
So if you are withdrawing cash while they are at the lowest point during that day you might get the exchange rate lower than the MasterCard global exchange rate.0 -
Hello, I used a Sainsbury Multi Currency Cash Passport for the first time this year. It is set up in Euros, but I have been charged Currency Conversion Fees for withdrawing Euros, and also very high fees for using ATMS. I am also having difficulty with the so called "help line" to query these charges. Has anyone any tips/advice, other than not to use this card in future?0
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Sainsbury charged these fees, or the ATMs? How were you charged and how much?Evolution, not revolution0
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