A prepaid card works like a credit or debit card when making a purchase, but you won’t go into overdraft as the card doesn’t work on a line of credit.
Instead, a prepaid card uses the money you loaded into your card in advance.
Once you run out, you can top it up again to continue using the card.
Are prepaid travel cards a good idea?
A big advantage to using a prepaid card is that it saves you having to carry around significant sums of money while you’re on holiday. In the event your card was stolen, you’d only lose the amount of cash on your card. But prepaid cards are also often cheaper to use overseas than a standard debit or credit card.
How does a travel money card work?
How does it work? A Travel Money Card is a card that you load foreign currency onto so it can be used overseas to withdraw cash at an ATM, in store, online or over the phone. You can use it in more than 36 million locations worldwide – choose the ‘credit’ option.
What is the best prepaid travel card?
Best buy prepaid travel cards
- Revolut – top rates on weekdays.
- WeSwap – top rates if you can wait & £20 bonus.
- FairFX – decent rates & £35 bonus.
Which is best travel card?
Best travel credit cards
- Barclaycard Rewards – fee-free + cashback.
- Halifax Clarity – a long-term top pick.
- Santander Zero – fee-free + low ATM interest.
Are prepaid cards safe?
With prepaid debit cards, you only spend money that’s loaded on the card. Keeping money safe when traveling. Prepaid debit cards are easily used overseas. And there’s another upside: If your card is stolen, your losses are limited to the amount on your card.
What is the benefit of using a travel card?
Some of the advantages a traveler gets by using a travel card as opposed to other cards include the following: Your money is safe and secure. Travel Money Card offers the most reliable way of carrying cash while on your international tour. You do not need to carry cash around.