I've never used one and while I think there is are benefits in what they offer there are other better options out there. Most impose a setting up charge and then charge you per transaction. The way in which they charge vary widely and can make the cost of a transaction expensive compared with cash or credit card. Remember of course that you have to put cash onto them in advance so the bank benefits from the credit balance until you spend it. They then charge you again when you take it out. Also you have to specify the particular currency whereas your own bank debit card used in an ATM can be used worldwide (within reason) for the local currency. With regard to cruising most cruise lines do not accept prepaid cards when it comes to settling your onboard account. This is because they are unable to verify how much credit balance is on your card (unlike shore based banks and shops). If you want to read up more on this I recommend looking at www.which.co.uk and typing prepaid cards into the search box. You don't need to be a member of Which to view the report which is very informative. Regular contributors to this site recommend the Nationwide FlexAccount debit card due to its lack of charges for overseas cash withdrawals. I have used one solely for my travels for many years as, should it be stolen or cloned, it doesn't affect your main bank account. Hope this helps.
I have a prepay visa card have you any idea if Fred. Olsen accept them?
I've never been with them but I've copied the following from the Fred Olsen web site which may help you.
"The following credit cards are accepted: American Express, Diners Club, Eurocard, MasterCard and Visa. We also accept Visa debit cards but regret we are unable to accept; Maestro, Solo, Electron or travel agents debit cards on board. Neither can we accept travellers cheque cards".
Looks like a no.
Thanks very much for taking the trouble to look into that for me.
These cards are another way of taking your money. They often have an annual charge and a charge if you do not use it !! They are also not widely accepted. Bradley is right. Take out a Nationwide credit card on line - very easy to do - you can use it anywhere without charges and you have the benefit of credit card protection for purchases, something you definately dont get with the pre paid card !! If you keep this card (or open a nationwide account to get their debit card, no requirement to have wages paid in) just for travel - your main accounts are protected from possible fraud abroad. This is the main reason people are 'buying' into pre paid. Dont beliieve the hype - SAVE your money and get a nationwide account. No, i do not work for them - Tesco banking is done by Royal Bank of Scotland by the way.
Thanks Macro, that was the answer I was looking for, all my assets are with the nation-wide anglia so I do have a Flex account, and thanks to all who have answered JOHN.
Thanks for your thanks ! if you already bank with them open another account to keep the holiday account seperate and just top it up from your main account on the internet or over the phone. Have a great time.
The post office cards are very good. You just load them up (£10 fee I think) with whatever currency and value you want. Then just use them anywhere that deals with Visa Electron. No money to carry and no-one is able to obtain your card details like an ordinary visa credit card. You just use a pin number upon payment then keep a track of your running total. Excellent.
Thank you Mrs Lucas for your answer I will give it a try, I had'nt realised the post office did them or I probably gone there sooner, thank you JOHN.
Hi, are you planning on using the card onboard,if so I would check with the cruise line. As far as I am aware none of the cruise companies accept the currency cards. We have been with RCI, P&O, Princess, Ocean Village and NCL, none of them accept currency cards and not all of them accept debit cards,they all accept travellers cheques and credit cards. The currency cards are good on land, but be careful, as depending on where you are going you may not be able to use it. You should be able to get a full list of all the countries and places that will accept them. American express used to sell them so it may be a good idea to check their website. ( I am not sure if they still sell them) Good luck