It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

# Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
• FIRST POST
• MSE Helen Saxon
• 12th May 15, 9:36 PM
• 75Posts
• 44Thanks
MSE Helen Saxon
Hi!

This is the discussion thread for the

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Thanks folks,
Page 5
• crockett44
• 28th Jul 19, 5:03 PM
• 1 Posts
• 1 Thanks
crockett44
So I've just come back from a week in Majorca with family and before I went I decided to try a pre-paid card...yes the ones that are supposed to be a great option....the ones that 'savvy' travellers use. I decided to work the numbers accurately, and compare the Post Office travel card that I used to what my NatWest credit card would have cost me. The result surprised me as follows:

Post Office Travel Card
Total Euros loaded in = €1379.40
Exchange Rate = 1.07
Total £ that hit my bank account = £1292.76
€45.67 remaining on card to convert back to £ at rate of 1.27 = £35.96
Total £ spent = £1292.76 - £35.96 = £1256.80

Natwest Credit Card (assuming used for same transactions as prepaid card)
Exchange Rate : 1.11 (I used the card a couple of times to check this)
Transaction Fee : 2.75% (I used the card a couple of times to check this).
There were 25 transactions on the prepaid card and I simply cut/pasted these and applied the exchange rate & transaction fee to each one to model what it would have cost me had I used the credit card.
Total £ spent had I used credit card = £1234.42

So the prepaid card was £22.38 or 1.8% more expensive than the credit card. If I assume use of the NatWest Mastercard with no overseas transaction charges (they do one of these), then the prepaid would have been £55.42 or 4.6% more expensive than the credit card (assuming the same exchange rate).

I also found the prepaid card more hassle - I had to keep checking how much was on the card, and load up a few times. I even got the card declined once as it did not have enough currency loaded.

Yes prepaid cards can help budget, and it is important to have the right credit card, but I wont be using a prepaid card again - more hassle than a credit card, and more expensive.
Last edited by crockett44; 28-07-2019 at 5:09 PM.
• eDicky
• By eDicky 28th Jul 19, 6:16 PM
• 4,932 Posts
• 3,031 Thanks
eDicky
I decided to try a pre-paid card...yes the ones that are supposed to be a great option....the ones that 'savvy' travellers use.
Originally posted by crockett44
Where did you hear such a thing about the Post Office card? Not here I think.

Your post is a brilliant illustration of what I and others have to try and tell people regularly, many thanks!!
• 14th Sep 19, 9:02 PM
• 1 Posts
• 0 Thanks
is it better to buy Czech currency in UK or Prague?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Live Stats

3,288Users online