For example, some issuers offer MasterCard Travel Cards that are chip-and-PIN, says Jeff Feuerstein, North American senior vice president of prepaid for MasterCard. Travel-specific prepaid cards are designed with globe-trotters in mind. “It’s linked to your hometown bank, so somebody can steal your entire bank account.” Prepaid cards also are safer than carrying wads of cash, says Rupert Kaufmann, president of the site Dream Travel On Points. “I almost never travel with my personal debit card,” says Elizabeth Avery, founder of the travel site Solo Trekker 4 U, who has traveled to 66 countries. Prepaid cards are safer than using your own debit card. Think you’ll just take some cash, a credit card and your debit card with you on your next trip abroad? There are two big reasons you might want to take a prepaid travel card instead. The pros and cons of prepaid travel cards “If there’s a fraudulent purchase, you can be alerted to that pretty quickly.” Depending on the card issuer, you may be able to use a smartphone app or log onto a website to check the balance, review your purchases and look for charges you don’t recognize.įor example, the AAA Visa TravelMoney Card offers a mobile app that helps you track your card transactions on the go, Hall says. If you have a prepaid travel card with a Visa or MasterCard logo, you’re protected by the zero liability policy from those card networks. Once you’ve arrived at your destination, you can use your card at ATMs to get cash or to make purchases. For example, the Travelex Multi-Currency Cash Passport MasterCard allows a maximum balance of $8,500 while AAA’s Visa TravelMoney Card (not available in California, Hawaii or Texas) allows a balance of up to $9,999. In general, to use a prepaid travel card, you purchase the card and simultaneously load the funds you want to spend on your trip, up to the maximum amount allowed on the card. Prepaid travel cards have gained in popularity in the United States only in the past five to 10 years, though they’ve been widely used in Europe for much longer, says Brad Fauss, President and CEO of the Network Branded Prepaid Card Association (NBPCA), a prepaid card industry association.Ī prepaid travel card works in a similar way to a general purpose prepaid card, except that it typically offers special features and perks designed for travel, which can vary based on the issuing bank, Fauss says.
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“It’s one of most convenient ways to get money while traveling.”
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“A prepaid travel card is one tool in a diverse travel wallet,” says Julie Hall, public relations manager for AAA, which offers prepaid travel cards. That convenience comes with fees and limitations, such ATM withdrawal and purchase amount caps that could put a damper your vacation.