what are
Travel money cards?

Always check for hidden fees

A travel money card is like your debit card or a credit card which you can use when you're abroad. They are an alternative to either taking cash on holiday or exchanging your holiday money at home and often carry better exchange rates.

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What are prepaid travel cards?

A prepaid travel card is a card you can preload with money which you can take with you on holiday and spend in numerous foreign currencies.

The benefits of prepaid travel cards include the ability to take out money from an ATM and to manage your holiday spend. The negatives include having to top up your card when the need arises and most prepaid travel cards come with a variety of fees and charges such as dormant inactivity fees.

Find out more about prepaid travel cards and their hidden fees

1. What’s the rate?

travel money cards offer a huge range of rates that might not be as good as the rate offered by your bank. Whilst almost all providers say no fees, the fee is often hidden in the exchange rate.

2. Does your travel money card offer protection?

Some cards are covered by section 75 protection, but not all, it’s worth checking the T&Cs before you sign-up to ensure that all your purchases will be covered by some kind of chargeback protection.

3. Can you get back unused currency?

Once your holiday has finished you’re unlikely to want to leave any leftover currency on your travel money card. Make sure that you can easily get your money back, without incurring further fees.

4. Are there any hidden fees?

Check for any fees, prepaid cards generally have more hidden fees than credit or debit cards. Make sure that you keep an eye out for fees such as application and replacement fees, transaction fees, and inactivity charges.

5. Are there any limitations to where you can use the different types of cards?

All providers say that they can be used wherever you see the Visa or Mastercard logo but there are some big exceptions that may impact your choice. If you want to pay at a petrol station, hire a car, or pay on a cruise - generally, you can only use a Credit, Debit, or Currensea’s travel debit card - prepaid cards are often not accepted.

	TOTAL CHARGES, %	TOTAL CHARGES, £
CURRENSEA ELITE & PREMIUM PLAN	0%	£0
CURRENSEA ESSENTIAL	0.5%	£46.13
RBS	3.27%	£301.71
BARCLAYS	3.51%	£323.86
HSBC	3.38%	£311.50
LLOYDS	4.03%	£371.86
SANTANDER	3.63%	£334.61
TSB	4.56%	£421.20

…vs high street banks

You still get all the security of using your bank account, just without the fees. It’s as simple as that.

	TOTAL CHARGES, %	TOTAL CHARGES, £
CURRENSEA ELITE & PREMIUM PLAN	0%	£0
CURRENSEA ESSENTIAL	0.5%	£46.13
CURVE + £4.99 card delivery	2.58%	£238.29
CAXTON	2.25%	£207.60
FAIRFX	2.27%	£209.60
TRAVELEX	4.40%	£405.98
CANNYAPP	4.52%	£417.05
POST OFFICE	4.53%	£418.20