An international prepaid debit card is known as a currency card that allows you to load money before travelling abroad and use it as a debit card to spend or withdraw cash. These cards are often preloaded, allowing you to keep control of your spending and minimise the chance of losing money. Some offer multi-currency accounts that can also make extremely useful tools for managing your money.
The cards are issued by a bank or financial institution and connected by major credit card companies like MasterCard and Visa.
How does it work?
- It is used to pay for almost everything without expensive fees.
- You can withdraw cash from ATMs overseas free of cost.
- You can preload them with any currency and then make currency transfers and manage expenses from an app or online.
Once you sign up with a company, they will send you the card, which you can load through bank transfer or any other payment method.
There are two types of cards:
- Single currency cards - you can load a single currency in them.
- Multi-currency cards - you can load multiple currencies in these cards and swap between currencies very inexpensively.
The cards can be managed through apps or online sites. The transaction costs associated with using these cards abroad are quite low as compared to debit or credit cards.
How to get one?
You can get International prepaid debit cards from old school banks in your country. However, the demand for using these cards is increasing day by day because of their low price.
Steps to get one:
- Fill the application form (most applications are free),
- Submit your details and identity proof.
- Once the verification is done, you will receive the card, where you can load with the currency of your choice and use it through an app.
A list of International prepaid cards:
You will have a good range of options available if you are thinking of getting a travel card for your next trip. Each card has its own set of fees and features.
A list of cards:
- Cards linked with an account that allows you to hold foreign currency balances.
- Prepaid travel cards which will automatically convert your US dollar balance to the currency you need.
- Cards with traditional accounts come with favourable terms for overseas spending.