The New Travel Essential – The Prepaid Travel Money Card

Prepaid travel money cards are quickly becoming the preferred option among people to do transactions while they are traveling. They are fast replacing using foreign currency or traveler cheques as the leading paying medium during traveling. Prepaid travel cards allow you to load your card with any desired amount of money that falls under the minimum and maximum loading limit from financial institutions that offer this service. You can use it as a debit card to acquire money from an ATM or use it as a credit card to pay for the purchases made.

Prepaid Travel cards in the era of the Credit Crunch – what do you need to get one?

Prepaid credit cards are taking center stage especially as the economic slump is tightening its grip on the world economy. You no longer need to carry money with you when you are on a trip. Each card is allotted a PIN number that contributes significantly to the safety of the product. As this is an international option, you can get the relevant authority informed about the loss of your card with the PIN number identifying your card to them. Customer support will block all activities that involve the lost product and should make arrangements for a new card to be sent out to you. These cards remain an independent entity without any relations with a bank account. You will not be able to avail any credit or overdraft facilities with prepaid travel money cards and this will help you keep your spending under check. You can easily retrieve information on your recent transactions and know your balance. This will keep you informed about the money left in your card and therefore, you will be able to manage your spending more judiciously. Your card can be reloaded at any time from any where in the world using your credit or debit card. It is also very easy to secure a prepaid travel card. You just need to submit your ID and documents that will validate your ID and address details and you should be approved and your prepaid travel money card will be in the post. Your card will be readily available for transactions.

Global Prepaid Acceptance

The extent of worldwide acceptance of your prepaid product will on your scheme provider. In comparison with electron and maestro prepaid travel cards, Visa and MasterCard prepaid travel cards enjoy better acceptance across the world with MasterCard being the most widely accepted option at over 26 million merchant locations worldwide.

Card Currency and FX Rates – why do they matter?

The currency of your card can play a major role in establishing exactly how much you can save on your trip. You can also take advantage of the exchange rate with your prepaid travel money card. You can have your currency as Euro or Dollar as these are two most popular options available for travellers travelling abroad outside the UK. Euro or dollar prepaid cards can be used in exactly the same way as a standard prepaid card. To get a Euro or dollar prepaid product, you should buy currency online from the service provider and the amount bought will be loaded into your card and sent to you. With Euro or dollar prepaid product, you may have to pay a fee for withdrawing cash from ATM’s and a fee may be incurred from currency exchange bureau’s and banks worldwide. The most important factor is choosing euro cards when traveling around Europe or dollar cards for other territories where USD is the accepted currency.