Getting an International Prepaid Card? Read this First!

Pre-COVID-19, many people travelled for diverse reasons. Regardless if it’s business or pleasure, travelling was made easy with international prepaid cards. Before international prepaid cards were introduced, people relied mainly on their credit and debit to help them manage their expenses while outside the country.

However, many people can attest that managing expenses can be tricky when outside the country. After all, you have the tendency to let loose and enjoy and not worry about how you’re spending and what you’re spending them on. Fortunately, this is where international prepaid cards can come in handy.   

International Prepaid Cards: All You Need to Know

So exactly are international prepaid cards and why are they deemed the consummate travel companion? Discover all you need to know about international prepaid cards in this article.

International Prepaid Cards in a Nutshell

Sometimes referred to as currency cards, international prepaid cards allow users to load money onto the card before they leave the country and travel overseas. Even while outside the country, the card can still be used for purchase transactions and ATM withdrawals.

Some international prepaid cards can offer multi-currencies, something very useful when travelling overseas. Since the international prepaid card is preloaded with money, it makes it very easy for cardholders to stay on top of their spending and manage their money accordingly. 

For utmost ease and added convenience, some issuers of prepaid cards give users the option to manage their cards online or through their mobile phones. Just like the typical debit and credit cards, international prepaid cards are associated with major and established financial and credit companies.

How International Prepaid Cards Work

For many, international prepaid cards are the ultimate travel companions. In fact, many people never travel to other countries without it. Why? For starters, international prepaid cards come with amazing and exciting features other plastic cards don’t offer. As if not enough, they also have very minimal costs, fees, and charges.

Just like debit and credit cards, international prepaid cards can be used for ATM withdrawals and purchase transactions, both online and through merchants. Cardholders also have the option to preload their international prepaid cards with a currency of their liking. In addition, they can also perform currency transfers while managing expenses online or through an app.

Unlike credit and prepaid cards which can be very hard to obtain (hint: tedious and time-consuming background and credit checks), getting an international prepaid card is a breeze. Since they don’t come with credit capabilities, you are spared from all the hassles associated with background and credit checks.

Once you have the card, you can immediately load money onto it and start using it for purchase transactions and ATM withdrawals. There are also several options when it comes to loading money onto the card. For instance, money can be loaded onto the card through secure online portals. 

You also have complete control over the frequency of loading money onto your card. Depending on what you deem fit, you have the option to load money onto your card weekly, monthly, or daily. Basically, anytime that’s convenient for you! Once the money has been loaded onto the card, you can immediately use it again.

Since transactions are deducted from your prepaid card immediately, you’ll stay on top of your spending. Not only that, once the balance on the card has been depleted, spending also stops automatically. This is a really great feature since it puts a halt to people’s tendency to overspend.

Once the balance has been depleted, no transactions using the card will be accepted. You either wait until the next schedule to load money onto the card or you can load money again if your budget still allows.

International Prepaid Cards: When are They Ideal?

Many frequent travellers nowadays never leave home without their international prepaid cards. International prepaid cards have experienced a massive rise in popularity over the years thanks to their amazing features and the unparalleled benefits they offer.

For many, international prepaid cards are the consummate travel companions. They spare you from all the trouble of taking wads of cash with you wherever you go while ensuring you of ease and convenience each time you use them.

When are International Prepaid Cards Ideal?

Having an international prepaid card is ideal in the following scenarios:

If you want to save money on currency conversion charges, getting an international prepaid card is ideal.

Also, if you want to load foreign currency directly to your card, an international prepaid card is your best bet. This feature also allows you to only make currency conversions when the rates are to your liking.

When you want to travel but don’t want to take lots of cash with you wherever you go, you should never be without an international prepaid card.

All you have to do is load money on the card and you’re good to go. You can use it for most of your transactions including paying for hotel fares, purchases, and ATM withdrawals.

If you want a card you can easily reload money onto, international prepaid cards are the best way to go.

With them, you’ll have plenty of reloading options available at your disposal. You can load the card through internet or mobile banking. You also have the option to load money to your card through secure online portals.

Once money has been successfully loaded on your card, you can immediately use it for purchase transactions and ATM withdrawals.

If you want a card that provides beneficial coverage for constant travellers, you can never go wrong with international prepaid cards.

Amazing travel benefits some international prepaid card providers offer include personal air accident protection, loss baggage coverage, lost liability card protection, and counterfeit liability to name a few.

However, that’s not all. Depending on the card you’ve chosen, you might also enjoy other perks like discounts from merchants or bonus points.

If you want to have better control of your spending, using an international prepaid card is your foolproof option.

When you use an international prepaid card, you are better able to manage your money since spending also stops automatically as soon as the balance on the card has been depleted.

In similar scenarios, you have the option to reload money on your card again or just choose to no longer use it once all the available balance has been consumed.

Also, it is important to remember that once all the available balance on your international prepaid card has been depleted, you won’t be able to use it for the time being or until such time that you load money onto your card again.

In other words, any transactions you will do (online or merchant purchases as well as ATM withdrawals) will be declined. However, it is only temporary. You can use the card again once money has been successfully loaded onto it.

If you want a card you can easily have blocked in the event of loss or theft, an international prepaid card is hands down your best option.

All you have to do in case of card theft or loss is get in touch with the issuer so you can request for blocking. What’s even amazing is some prepaid card issuers provide additional benefit to their cardholders by providing an add on card in case the primary one gets lost or stolen.