What Makes International Prepaid Cards Massively Popular
Are you traveling somewhere soon? Have you got your essentials ready? Whatever the purpose of your trip may be, whether it is for business or for pleasure, it helps to have your international prepaid card with you.
Over the years, international prepaid cards have become massively popular. It’s popularity however is not really surprising as if offers some benefits that are hard to miss.
The Lowdown on International Prepaid Cards
International prepaid cards work pretty much like the typical general purpose prepaid cards. However, they are designed to be a convenient companion for those who constantly travel outside of the country, regardless if it’s for business or pleasure.
In terms of function, international prepaid cards work just like a debit or credit card except that it is not connected to any bank and it has no credit capabilities. In other words, users of international prepaid cards are limited to the balance that’s available on the card, no more, no less.
Once the balance on the card has been depleted, users will have to load money onto the card again before it can be used for both purchase and ATM withdrawals. While international prepaid cards have numerous enticing benefits, some of the most notable ones include:
- In most cases, a maximum of 16 different currencies can be loaded on an international prepaid card.
- Some international prepaid card issuers entice users by giving away free reward points for transactions made using the card.
- Many restaurants across the globe sometimes provide cardholders with attractive discounts when they use their cards.
- Users of international prepaid cards have the option to check the available balance on the card using ATM machines across the globe. In most cases, cardholders will receive a notification message right after each withdrawal transaction. The available balance on the card will also be indicated in the notification.
- For lost or stolen cards, some card providers give users the option to avail of an add-on card.
Key Things to Remember When Using Your International Prepaid Card
When using your prepaid card for transactions or withdrawals, it pays to keep the following basics in mind to ensure security and ease and convenience:
- When an international prepaid card is used for transactions outside of the country, users will be able to save a significant amount in terms of currency conversion charges.
- The United States dollar, Euro, and British Pound are deemed the most offered currencies.
- Since cardholders have the option to load foreign currency directly on their cards, they also have the option to make currency conversions when the rates are favourable.
- In case users use up all their balance while outside the country, they have the option to load money to the card via internet banking or through a secure login portal.
- Once cardholders are able to successfully load money onto the card, they can use the card for purchase transactions and ATM withdrawals immediately.
- Some issuers of international prepaid cards offer users travel insurance coverage such as lost liability protection, counterfeit liability cover, and lost baggage coverage, among many others.
- Those who want to stick to the budget they have set can easily do so when they use an international prepaid card. Once the balance on the card has been depleted, the spending also stops automatically until such time that they load money onto the card again.