Traveling abroad and wondering whether you will be stuck with cash? How safe will it be to have a bag full of cash or keep it in whatever lodging you’ll be at? Traveling with cash isn’t advised for any reason, especially because of security.
The best option is to travel with a card and have all the cash in your account, and that is your prepaid debit card.
Here’s what you should know about using your prepaid card when you go overseas.
What is a Prepaid Debit Card?
A prepaid card is a card made available to you by a financial institution or a bank to handle some of your financial dealings, especially purchases. The card shares similarities with the standard debit and credit cards. However, it is different in the sense that you can only use the card after you have topped it up with cash, and you can’t spend a penny more than you have put in.
Prepaid cards can be used all over the world and your funds will be converted from pound sterling to whatever currency you want to spend it in.
Why are Prepaid Cards a good idea when traveling Abroad?
First, it saves you from carrying money around when traveling. It is also safe because you can easily freeze the card if it goes missing without losing your money.
It is also cheaper to use prepaid cards abroad unlike debit cards that often incur international usage charges of up to 2.75%.
It is also easier to get a prepaid card than the usual bank cards, provided you are up to 18 years old.
What do you need to know when using Prepaid Cards Abroad?
As we stated earlier, prepaid cards aren’t the same as credit cards, meaning you can’t use them to buy anything unless there are funds in the account.
When using prepaid cards, there are fees you should be aware of, especially when spending money abroad. They include card purchase fees, monthly fees that could cost between £2 and £15, ATM withdrawal fees, and other transaction fees.
Another thing you need to be aware of when using a prepaid card is that they don’t offer as much protection as a credit or debit card when making payments. For instance, Section 75 protection would allow you to get your money back if something went wrong with a credit card purchase. However, it isn’t that simple with prepaid cards. Although Visa’s Chargeback Scheme can help in such situations.
Use your Suits Me® Prepaid Debit Card Abroad
Our Suits Me Prepaid Card will make your trip abroad seamless as you can use it in more than 24 million online and physical stores across the world.
Suits Me® is more than just a prepaid card. Our prepaid contactless Mastercard® debit cards are also connected to a personal account and a mobile application that helps you keep track of your finances all the time.
You can apply for a Suits Me® card without needing a credit check and create an account in a few minutes once your identification and account opening details have been approved. Your card will be delivered the next working day
Check out our fees page to see all the fees connected to purchases and ATM withdrawals outside the UK.