Are Prepaid Currency Cards Getting More Attractive?
Published: 22 June 2011
By Peter Thompson Leave a Comment
Updated: 22 June 2011
Prepaid currency cards from my Travel Cash have just got better as ATM withdrawal fees are being scrapped and customers will get 1% unlimited cashback on all purchases.
The 1% cashback is earned on all purchases and paid directly to the prepaid card account every month, the amount earned is only limited by how much the cardholder spends – no hidden tricks or complicated rules just great value, commission-free travel money.
The my Travel Cash card holders will also not be hit with ATM charges. For example, using the Euro card to make a withdrawal in Euros could save up to £4.75 on a typical withdrawal of £100, compared to using a debit or credit card.
The same applies for customers using the US Dollar card to withdraw US Dollars abroad.
The prepaid currency cards are available in Euros, US Dollars and Sterling Multi-Currency card. With the Euro and US Dollar cards simply choose how much currency to buy and my Travel Cash loads it on to your card, always at a competitive rate.
Purchases made in the card’s currency are free plus now cardholders will also earn 1% cashback.
The Multi-Currency card is loaded in Sterling and is perfect for those requiring multiple currencies during their travels.
As with other pay as you go currency cards, a credit check is not required, you simply complete a short online application to verify your identity.
MoneyHighStreet.com says “Another positive for currency cards and helping you get the best deal on your travel money.
“Be aware though that other providers do also offer such prepaid travel cards with zero international ATM charges, as well as zero transaction charges if your point of sale transaction is in the currency loaded onto the card. The offer of 1% cashback is an additional incentive that may well attract customers.
“You do need to check and make sure you get the best exchange rates when you buy your currency.
“At the time of writing we checked a few providers and found exchanging £1 the rate quoted was
- CaxtonFX – Euro 1.0960 and US$ 1.5750 (Real time rates)
- My Travel Cash – Euro 1.09 and US$ 1.56 (Real time rates)
- FairFX – Euro 1.1025 and US$ 1.5831 (not real time, as at 21 June)”