You don’t want your bank card to get in the way of spending while abroad, which is where a prepaid travel card could come in handy. Plus, if you play your (literal) cards right, there could be some savings to be made.
This guide will take you through the benefits of prepaid travel cards and help you compare some of the best options currently available. Here we focus on prepaid cards, but we have a separate guide on debit cards with low or no overseas transaction fees that are linked directly to your current account.
Latest reviews of prepaid cards you can use abroad
Revolut Standard Account
Finder Score 4.3★★★★★
You can use the Revolut card to spend and withdraw cash abroad and no fees will be charged, provided you stay within your monthly limit and carry out transactions on a weekday. Monthly limits will depend on the plan you have chosen. You can also convert money in 36 currencies within the app, enabling you to convert some spending money into the local currency before you go on holiday - this could work to your advantage if exchange rates are favourable. If you don’t exchange currency before you go, Revolut will use its own variable exchange rate to carry out the conversion when you pay for something with your card.
Monese Free Account
Finder Score 3.8★★★★★
Minimum opening balance | £0 |
---|---|
Account fees | £0 |
Interest (AER) | 0% AER |
You can use your Monese prepaid Mastercard instore, online or in ATMs worldwide and you’ll get Mastercard’s exchange rate. If you have the Simple plan, card spending in foreign currencies incurs a 2% fee, but there is no fee for the Classic and Premium plans. Similarly, there is a 2% fee for cash withdrawals with the Simple plan, while the Classic and Premium plans allow you to withdraw a set amount each month fee-free. Monese offers multilingual customer support and you can manage your account online or via the app.
Minimum opening balance | £0 |
---|---|
Account fees | £0 |
Interest (AER) | 0% AER |
Monzo Free Account
Finder Score 4.6★★★★★
If you use Monzo as your main bank account, you’ll be able to make unlimited fee-free cash withdrawals in the European Economic Area (EEA) and up to £200 every 30 days for free outside the EEA. A 3% fee applies after that. No foreign transaction charges apply to spending you make on your card across the globe and you’ll benefit from Mastercard’s exchange rate every time you spend. For Monzo to be your main bank account, you need to meet certain conditions, such as having paid £500 into your account in the last 35 days and having at least one direct debit on the account.
Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39% EAR variable.
Starling Current Account - Age 18 and over
Finder Score 4.7★★★★★
Open a Starling bank account and the debit card that comes with it can be used anywhere in the world fee-free. There are no foreign transaction charges for spending on your card or for withdrawing cash abroad. You’ll benefit from Mastercard’s exchange rate, with nothing added on top. The account can be managed online or via the app and there's no monthly account fee to worry about either. You’ll also earn interest on your balance and have the option of applying for an overdraft. Plus you can send money internationally with no hidden fees.
Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 15% EAR variable.
What is a prepaid travel card?
A prepaid travel card works like a debit card which you use to spend or withdraw cash while abroad. Many prepaid cards don’t charge foreign transaction fees which can make them a cost-effective option while travelling.
Alongside the card, you often get an online account to load money and swap pounds sterling for other currencies. The exchange rate is either set by the payment provider – such as Visa or Mastercard – or some providers use the “interbank” rate (which is what the banks pay when they trade currencies).
The different types of prepaid travel cards
There are 2 main types: a simple prepaid card or a multi-currency one.
The simpler type doesn’t let you exchange currency in advance. Instead, you simply load pounds sterling onto the card and when you spend, it converts the pounds into the currency using the exchange rate at the time. This makes the account very similar to a debit card.
Meanwhile, multi-currency cards have the added bonus of letting you lock in an exchange rate before you travel, while also holding multiple currencies within your account at once
How do they work?
Once the account is open, you’re sent a physical card to use in the same way you would a debit card. Most providers have a website and app to load money on the go.
For some banks, you have to load money in pounds sterling first before you’re able to swap for another currency. If you can exchange in advance, each currency is held in a virtual wallet within the account. It sometimes can be worth exchanging in advance to secure a competitive rate on your chosen currency. However, keep in mind that currency values fluctuate, so it may not always work in your favour.
When you spend using a prepaid card, money is automatically deducted from the wallet containing the currency you’re spending in. The good news is that you can’t spend more than what’s in the account. Which could help you budget while abroad.
Are there cards that under 18s can use abroad?
There are several prepaid debit cards designed for young people. These look to give parents some degree of control over their kids’ money and some don’t charge foreign transaction fees.
Here are a few to consider:
- GoHenry. A prepaid debit card for 6-18 year olds, GoHenry doesn’t charge commission or cash withdrawal fees when your child pays/withdraws money in the local currency. However, it does have a monthly fee.
- Revolut .18> A card for 6-17 year olds, the currency conversion is similar to the adult version of the account, except kids can’t hold foreign currency in their own account. If you have an adult Revolut account, depending on which plan you are on, you’ll have access to a set number linked Revolut
- Starling Kite. Designed for 6-15 year olds (Starling has its own teen account), Starling Kite doesn’t charge fees for foreign transactions or cash withdrawals and is also free.
- Nationwide FlexOne. A free account for 11-17 year olds, this account allows your child to have a debit card or a cash card. Additionally, the account has no fees for using the card abroad or for withdrawing cash outside the UK.
18>
What are the benefits of using a travel card?
- Safer than carrying cash. This is the main advantage of a travel card. You don’t have to worry about losing loads of money, or getting pick pocketed on the beach.
- Save on fees. Unlike many regular bank cards, you might be able to save on foreign transaction fees when you spend while abroad.
- Works like a debit card. Unlike a credit card, you won’t be able to run up debts on a prepaid travel card. There are however a range of credit cards designed for travellers with benefits attached.
- Choice of currencies. Most travel card providers offer a range of currencies for you travel card. We have a separate guide on accounts where you can hold multiple currencies.
- Good for budgeting. One of the best things about a travel card is that once it’s loaded it is loaded. You can’t run up debts, and it helps you to keep on top of how much you’re spending.
- Good to give to youngsters going on their first holiday. For the same reason, travel cards are good to give to first time holidayers. It’s a good way to teach kids how to spend responsibly, but without much risk. We have a separate guide on prepaid cards for children under 18 that can be used abroad.
- Better rates than banks. Most prepaid card companies offer a more competitive rate than banks, and certainly better than a Bureau de Change in airports or in foreign countries.
What should I look out for when comparing travel cards?
- Topping up. Most prepaid card companies allow you to do this while you’re abroad, but make sure you check out how to do it. There’s nothing worse than being out of money while on holiday, and being forced to withdraw money at a terrible rate. A lot of companies have apps, or will let you top up over text. Also, be sure to check how much this might cost you.
- Fees. This is where travel card companies make a lot of their money so make sure you wrap your head around all the costs before you sign up.
- Rates. Similar to fees, you should also keep on eye on exchange rates and make sure you’re getting a fair deal. Many travel card companies will match a better exchange rate from a rival company so this is something to be aware of.
- Protection. This might go without saying, but it’s important for you to be aware of where you stand if things go wrong. Check the company’s policies regarding lost, stolen, or undelivered cards.
What’s the alternative to using a travel card?
It could be worth looking at some of the challenger banks, many of which don’t charge foreign transaction fees. They also tend to have slick banking apps so you can also manage the whole process on your phone, saving you a visit to your local bank branch or post office. Apps like Starling, Chase and Revolut have favourable fees when spending abroad.
Pros and cons of a prepaid travel card
Pros
- No foreign transaction fees for spending cash
- Lock in favourable exchange rates
- You can’t spend more than you’ve got in the account
Cons
- There might be limits on how much cash you can withdraw
- Some providers charge fees for withdrawing cash
- No Section 75 protection
If you’re not fussed about swapping currency before you travel, it could be worth comparing debit cards too because some don’t charge fees to spend abroad.”
Frequently asked questions
More guides on Finder
-
How to avoid non-sterling transaction fees when travelling abroad and paying online
Learn how to avoid non-sterling transaction fees when travelling abroad or paying online using your UK debit card.
-
Using Revolut abroad: Is it the right app to use?
Learn more about using Revolut abroad and if it is the right choice.
-
Opening a bank account in Singapore
Learn more about opening a bank account in Singapore as a foreigner.
-
Opening a bank account in Dubai
Discover whether it’s possible for you to open a bank account in Dubai, what documents you may need and how to apply.
-
Equals Go review
Equals Go is a travel card that allows you to exchange currencies when the rate is favourable, allowing you to plan ahead and save money on your travels.
-
Currensea review
Here’s all you need to know about the exciting new travel debit card that wants to make travelling and spending money abroad hassle free.
-
Travel money: The basics
Understand the basics when it comes to travel money and everything you might need to consider before you purchase it with the help of this handy guide.
-
Caxton review
We explore all of the features of a Caxton FX card. Read this review to get the low down on one of the UK’s most popular travel money cards.
-
6 ways to carry your currency when travelling overseas
From contactless payments using a smartwatch or fitness tracker to getting creative with what you use for your “wallet,” we rounded up six ways to carry your currency when traveling to avoid having your money stolen.
My 11 year old is travelling to Portugal. What is the best way for him to carry cash? I do not want him to carry all of his money as cash.
Hi Anusha,
Thanks for getting in touch with finder. I hope all is well with you. :)
Security is really a top priority and I understand why you don’t want him to carry cash. If your child needs to carry money, it would be a good idea to keep the money in a safe place. Whatever works for your child, the money should be secured. It would also be important to tell your child to stay low key and don’t get too flashy to avoid attracting attention from thieves.
Having a travel card would also be a good alternative. In this case, you might want to check the information on this page to learn more about travel cards. You may also check our featured travel card above and see if it’s a card that will meet your needs.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
My daughter will be travelling to Peru in July and staying for a month and we are not sure of the best and cheapest prepaid money card for her. She wont be 18 till end of may. Can you give us a guide please
Hi Sara,
Thank you for getting in touch with finder.
For further info since your daughter is travelling to Peru, please check out this link. This link would be a great help specifically talking about travel money options.
I hope this helps.
Have a great day!
Cheers,
Jeni
Please advise if any providers have pre-paid cards for India. Many thanks.
Hi Jenny,
Thanks for visiting finder! While at present these travel prepaid card providers do not support Indian Rupee, you may still use these cards in India wherever Mastercard or Visa is accepted. Please note that cross border, currency conversion and other fees may apply. Make sure to check the card’s terms and conditions and fees schedule to know what and how much fees your transaction in India will incur.
Feel free to drop us a note again if you have other questions.
Best regards,
Liezl
We’re traveling to China shortly. What are the best options for China as regards PrePayment cards?
How can I find the balance for my currency card
Hi Irene,
Thanks for getting in touch with finder.
There are different ways for you to know your currency card’s balance. However, it greatly depends on your card issuer. For example, you can go to your card’s official website, log in, and check your balance. Some banks allow you to phone their 24-hour card services number.
Some ATMs also provide balances, however, if the local currency of the ATM is not the same as the currency on your card, a variation in your card’s balance may occur.
I would recommend that you check with your card’s issuer to know more about how you can know your balance.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua