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  • FIRST POST
    • MSE Helen Saxon
    • By MSE Helen Saxon 28th May 15, 11:15 AM
    • 75Posts
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    MSE Helen Saxon
    0 WOW
    Prepaid Travel Cards guide
    • #1
    • 28th May 15, 11:15 AM
    0 WOW
    Prepaid Travel Cards guide 28th May 15 at 11:15 AM
    Hi!

    This is the discussion thread for the



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    Thanks folks,
Page 53
    • weeg
    • By weeg 10th Mar 18, 12:13 AM
    • 831 Posts
    • 751 Thanks
    weeg
    Travel currency card as gift?
    Apologies if this has been asked a hundred times- it's a long thread!

    I'd like to give my brother a wedding present of a preloaded card in Canadian dollars for their honeymoon. The best rates all seem to be tied to an ap, or take a couple of weeks to arrive. Can anyone point me in a good direction, or should I just go buy the dollars? (Except I'd have to get them posted to him, as I won't see him before they leave)
    • eDicky
    • By eDicky 10th Mar 18, 10:01 AM
    • 3,315 Posts
    • 1,558 Thanks
    eDicky
    I'd like to give my brother a wedding present of a preloaded card in Canadian dollars for their honeymoon. The best rates all seem to be tied to an ap, or take a couple of weeks to arrive. Can anyone point me in a good direction, or should I just go buy the dollars? (Except I'd have to get them posted to him, as I won't see him before they leave)
    Originally posted by weeg
    There's no such card that can be obtained in another person's name, and in general cards 'preloaded' in a foreign currency are not good value.

    Assuming that your brother has a suitable means of spending in Canadian dollars, just send him pounds to his bank account.

    Right now there's an opportunity to get the Revolut plastic card free of charge (usually £5) if you sign up and order it with the app by tomorrow (Sun Mar 11th). This is excellent for travel. If you really like the idea of giving him CAD instead of GBP and you both sign up, you can load GBP to yours, add a CAD account, convert at the interbank rate (weekdays) and instantly send him the CAD to his own account, ready to use with the card.
    • Rachaelgcuba
    • By Rachaelgcuba 15th Apr 18, 3:45 AM
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    Rachaelgcuba
    I am travelling to Denmark sweeden and norway on one trip, what prepaid card is best and in what currency as all three counties have different money?
    Last edited by Rachaelgcuba; 15-04-2018 at 3:46 AM. Reason: Spelling
    • PeacefulWaters
    • By PeacefulWaters 15th Apr 18, 10:02 AM
    • 8,205 Posts
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    PeacefulWaters
    I am travelling to Denmark sweeden and norway on one trip, what prepaid card is best and in what currency as all three counties have different money?
    Originally posted by Rachaelgcuba
    Starling Bank.

    Fund in Sterling, spend in local currency.
    • Neil49
    • By Neil49 15th Apr 18, 10:21 AM
    • 1,262 Posts
    • 615 Thanks
    Neil49
    Starling Bank.

    Fund in Sterling, spend in local currency.
    Originally posted by PeacefulWaters
    I agree, but is the Starling account a prepaid or a current account?

    I thought it was a current account which makes applying for one a bit more involved.
    • Luckwudaveit
    • By Luckwudaveit 15th Apr 18, 6:17 PM
    • 80 Posts
    • 32 Thanks
    Luckwudaveit
    We're going away to the Eurozone in 5 weeks for an all inclusive holiday so probably won't need much cash. We'll take !!!8364;200 but will need a back up if we need more cash. I've had a Caxton pre paid card before but misplaced it and they will charge £5 for a replacement. FairFX looks next best but if I load £500 on it, how can I transfer it back to sterling on our return? I'm starting to think about just withdrawing on a debit card should we need more cash.
    • PeacefulWaters
    • By PeacefulWaters 15th Apr 18, 6:33 PM
    • 8,205 Posts
    • 10,447 Thanks
    PeacefulWaters
    FairFX looks next best
    In what ways?
    • luckwudaveit
    • By luckwudaveit 15th Apr 18, 6:44 PM
    • 243 Posts
    • 90 Thanks
    luckwudaveit
    In what ways?
    Originally posted by PeacefulWaters
    ATM withdrawal fees at a £1, no load fee and no card fee. If I load £500 on to it I'll get the £8 currency bonus, but any balance left on the card after returning to the UK will cost me 1.75% on spend, or 1.75% at an ATM plus 1.50 euro. Seems they want you to just keep the money there, but I don't know if we'll use the card any time soon.

    Perhaps a Starling debit card is the way to go?
    Last edited by luckwudaveit; 15-04-2018 at 6:56 PM.
    • Donkey Oti.
    • By Donkey Oti. 15th Apr 18, 8:05 PM
    • 2 Posts
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    Donkey Oti.
    Having read the guide and opted for a Revolut card, I was surprised to find the "free" card actually costs £5, and another £10 to have it delivered by standard mail to a UK address. (10 days). The guide mentions neither. Just saying.
    • PeacefulWaters
    • By PeacefulWaters 15th Apr 18, 8:43 PM
    • 8,205 Posts
    • 10,447 Thanks
    PeacefulWaters
    ATM withdrawal fees at a £1, no load fee and no card fee. If I load £500 on to it I'll get the £8 currency bonus, but any balance left on the card after returning to the UK will cost me 1.75% on spend, or 1.75% at an ATM plus 1.50 euro. Seems they want you to just keep the money there, but I don't know if we'll use the card any time soon.

    Perhaps a Starling debit card is the way to go?
    Originally posted by luckwudaveit
    Abserbloodylutely. And none of those fees.
    • Luckwudaveit
    • By Luckwudaveit 15th Apr 18, 9:29 PM
    • 80 Posts
    • 32 Thanks
    Luckwudaveit
    Can you tell it's been over 5 years since I've been abroad? The market has changed considerably.
    • PeacefulWaters
    • By PeacefulWaters 16th Apr 18, 2:07 AM
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    PeacefulWaters
    Can you tell it's been over 5 years since I've been abroad? The market has changed considerably.
    Originally posted by Luckwudaveit
    It has. I'd expect Starling to move the goalposts within a couple of years. But while they're best, why wouldn't you?
    • Gloomendoom
    • By Gloomendoom 16th Apr 18, 10:26 AM
    • 13,743 Posts
    • 18,027 Thanks
    Gloomendoom
    ATM withdrawal fees at a £1, no load fee and no card fee. If I load £500 on to it I'll get the £8 currency bonus, but any balance left on the card after returning to the UK will cost me 1.75% on spend, or 1.75% at an ATM plus 1.50 euro. Seems they want you to just keep the money there, but I don't know if we'll use the card any time soon.
    Originally posted by luckwudaveit
    Of course they do. When you load up a prepaid card, you are giving the card company an interest free loan that they can make interest on themselves.

    Perhaps a Starling debit card is the way to go?
    No question about it. No free loans to third parties and you get to keep the interest on the money you haven't spent.
    Last edited by Gloomendoom; 16-04-2018 at 10:30 AM.
    ďNever argue with stupid people, they will drag you down to their level and then beat you with experience.Ē - Mark Twain
    • eDicky
    • By eDicky 16th Apr 18, 10:42 AM
    • 3,315 Posts
    • 1,558 Thanks
    eDicky
    Having read the guide and opted for a Revolut card, I was surprised to find the "free" card actually costs £5, and another £10 to have it delivered by standard mail to a UK address. (10 days). The guide mentions neither. Just saying.
    Originally posted by Donkey Oti.
    The MSE article states "Standard delivery is free as long as you load the card with at least £10." That doesn't mean the £10 will be taken as a fee, they just consider it's more likely you will actually use the card if you start loading some money on it.

    As for the £5 card cost:
    "If you apply via our link, you'll be sent a text message with a link to download the Revolut app. After installing the app, you'll be able to order a card for free as long as you top it up with at least £10."

    https://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards
    • eDicky
    • By eDicky 16th Apr 18, 11:18 AM
    • 3,315 Posts
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    eDicky
    Starling Bank (mobile only) is certainly the best (non credit card) option at the moment to keep your money in pounds and spend or withdraw cash overseas.

    If you prefer prepaid to an actual bank account, want to have online access as well as phone app, and/or wisely decide to take a backup, the Loot prepaid account gives exactly the same benefits and simplicity as Starling except for the £1 fee for ATM withdrawals after the first two free per month:

    https://loot.io/
    • Donkey Oti.
    • By Donkey Oti. 16th Apr 18, 9:19 PM
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    Donkey Oti.
    I have preloaded the account with £10.
    They still want £5 to order a physical card.
    With £10 loaded onto the account, they want an additional £10 delivery charge.
    I read on the Revolut forum that these charges are causing a lot of people to cancel. I am writing to cancel.
    • eDicky
    • By eDicky 17th Apr 18, 9:44 AM
    • 3,315 Posts
    • 1,558 Thanks
    eDicky
    I have preloaded the account with £10.
    They still want £5 to order a physical card.
    With £10 loaded onto the account, they want an additional £10 delivery charge.
    I read on the Revolut forum that these charges are causing a lot of people to cancel. I am writing to cancel.
    Originally posted by Donkey Oti.
    Did you install the app and sign up via the MSE link? Otherwise the card costs a fiver.

    I see in the help section that the 'delivery fee will be quoted at the time of ordering', presumably according to the country of address. Standard delivery to a UK address always used to be included in the card fee. So if, as you appear to have found, it now costs £10 for standard UK delivery then it should indeed be highlighted in the MSE Prepaid Travel Cards article.

    Where is this Revolut forum with similar reports by others? I see nothing on https://community.revolut.com/
    • adindas
    • By adindas 17th Apr 18, 7:06 PM
    • 3,507 Posts
    • 2,182 Thanks
    adindas
    Loot.io
    I understand with Loots.io

    For ATM withdrawals in the UK & abroad, you get two free withdrawals each month and then they are £1 each time thereafter http://support.loot.io/going-abroad/can-i-use-atms-abroad

    They have not clearly stated how they define a month. But as usual with card of this kind, one month will normally refer to calendar month (?)

    So if your travel span along two consecutives months you will get four free withdrawal.

    Has anyone really tried this and observed it that there is no £1 fee for this ??

    TBH, I don't really trust their application. I have been trying to top it up using debotcard since a few days days ago and today I tried again it did not allow me to do this. But I could still top it up using bank transfer.
    • eDicky
    • By eDicky 17th Apr 18, 7:54 PM
    • 3,315 Posts
    • 1,558 Thanks
    eDicky
    I understand with Loots.io

    For ATM withdrawals in the UK & abroad, you get two free withdrawals each month and then they are £1 each time thereafter http://support.loot.io/going-abroad/can-i-use-atms-abroad

    They have not clearly stated how they define a month. But as usual with card of this kind, one month will normally refer to calendar month (?)

    So if your travel span along two consecutives months you will get four free withdrawal.

    Has anyone really tried this and observed it that there is no £1 fee for this ??

    TBH, I don't really trust their application. I have been trying to top it up using debotcard since a few days days ago and today I tried again it did not allow me to do this. But I could still top it up using bank transfer.
    Originally posted by adindas
    It could be a calendar month, Revolut did it that way when they first introduced withdrawal limits but later changed it according to your date of account opening or something else, I forget. Or could it be a month from the first withdrawal, etc..? I haven't withdrawn enough to gain experience - try asking them on the in-app chat.

    What happens when you try to top up by debit card? Check the limits they impose and how much you are trying for. Faster Payments seem to go through as quickly as any bank.
    • adindas
    • By adindas 17th Apr 18, 8:09 PM
    • 3,507 Posts
    • 2,182 Thanks
    adindas

    What happens when you try to top up by debit card? Check the limits they impose and how much you are trying for. Faster Payments seem to go through as quickly as any bank.
    Originally posted by eDicky
    Bank transfer is not bad take about half hour I will say. But not as quick as an instant FP.

    I am aware the limit of 5 times a week to the total value of £250 and I am still within this limit when I did a Debit Card top up.

    I had a chat with their CS, they said they currently have a problem with Debit Card top up and they are hoping to be resolved soon.
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