The Best Travel Prepaid Cards for Spending Abroad in 2024

Traveling abroad can be an exciting experience, but managing your finances can be a hassle. With the rise of digital payments, prepaid travel cards have become a popular and convenient option for managing your money while travelling.

In this article, we will explore the best prepaid travel cards and debit cards for spending abroad, and what makes them stand out.

What is a Prepaid Travel Card?

A prepaid travel card is a type of payment card that you can load with money in advance. Unlike a traditional debit card that is linked to a bank account, you can only spend the amount you have loaded onto the card.

Prepaid travel cards are accepted at most shops, restaurants, and ATMs, and are often a VISA or Mastercard.

They also offer a convenient way to track your spending, as you can easily see your balance and transactions through the card’s app.

Best Prepaid Travel Cards:

Here are some of the best prepaid travel cards available in the market:

Cards	Network	Fees for Using Abroad	Currency Exchange	Withdrawal Limit	Physical Card Cost	Access
Revolut	Mastercard	No fees	Exchange of 30+ currencies with no fees Mon-Fri, interbank rate + 1% fee at weekends	£200 or 5 free withdrawals a month (whichever comes first)	£4.99	App Only
Wise Travel Money Card	VISA	No fees	Exchange of 50+ currencies	Two free withdrawals per month up to £200, 50p + 1.75% thereafter	£5 or £17 (express delivery)	App & Online

Pros and Cons of Prepaid Travel Cards

Pros:

• Quick and easy to apply for
• Can be used instantly
• Accepted globally
• Better exchange rate than cash, thanks to the interbank exchange rate
• Convenient to top up on the go, reducing the risk of losing your card
• Good for budgeting, as you can track your spending through the app
• Additional perks such as savings pots and spending summaries may be available through the app

Cons:

• May not be accepted for pre-authorizations such as car hire or hotel deposits
• Low fee-free withdrawal amounts on free plans
• Varying fees that may change based on the day
• Need to keep checking your balance to avoid running out of money
• Not a bank, so your money is not protected by FSCS, and it is not a credit card, so you won’t have added Section 75 protection

Best Debit Cards for Travel:

Here are some of the best debit cards for travel:

Cards	Network	Fees for Using Abroad	Currency Exchange	Withdrawal Limit (EEA/Outside EEA)	Physical Card Cost	Access
Monzo Bank	Mastercard	No fees	Uses Mastercard’s exchange rate	£250/£200	£5 or £17 (express delivery)	App & Online
Starling Bank	Mastercard	No fees	Uses Mastercard’s exchange rate	No limit (6 withdrawals per day with a daily limit of £300)	£5 or £17 (express delivery)	App & Online
Chase	Mastercard	No fees	Uses Mastercard’s exchange rate	£500 a day, £1500 a month	£5 or £17 (express delivery)	App Only (Apple device running iOS 14.1 or later)

Pros and Cons of Travel Debit Cards

Pros:

• Quick and easy to apply for
• Can be used instantly
• Accepted globally
• Better exchange rate than cash, thanks to Mastercard’s exchange rate
• No need to keep topping up your balance
• Good for budgeting, as you can track your spending through the app
• Additional perks such as savings pots and spending summaries may be available through the app
• Protected by FSCS as it is a registered bank

Cons:

• May not be accepted for pre-authorizations such as car hire or hotel deposits
• Some have low limits on free withdrawals
• You may not be accepted after the bank has run a soft check on you, though it won’t leave a permanent mark on your credit score
• More risk if lost or stolen as it is linked to your bank account
• If paying with debit, you won’t have the added Section 75 protection that comes with paying with credit

Tips for Avoiding Fees when Spending Abroad

• Pay in the local currency
• Be aware of ATM fees, as some machines may charge a fee even if the bank or card does not
• Set up an account in advance, allowing time for a physical card to be delivered if desired
• Keep track of your spending with notifications

Frequently Asked Questions:

In this section, we have compiled a list of commonly asked questions about prepaid travel cards.

What is a prepaid travel card?

A prepaid travel card is a type of card that allows you to load money onto it before you travel. It operates like a debit card and can be used for making purchases and withdrawals abroad, without incurring foreign transaction fees.

Is a prepaid travel card the same as a debit card?

No, a prepaid travel card is not linked to a bank account, while a debit card is linked to a bank account. With a prepaid travel card, you need to transfer money over or top it up, while with a debit card, you can access the funds in your linked bank account.

Can I use a prepaid travel card for pre-authorizations, such as car hire or hotel deposits?

No, prepaid travel cards are not typically accepted for pre-authorizations.

What is the difference between a prepaid travel card and a normal debit card?

A prepaid travel card is not linked to a bank account and requires you to transfer money over or top it up, while a debit card is linked to a bank account and allows you to access the funds in your linked bank account.

Are there any fees for using a prepaid travel card or debit card abroad?

It depends on the card you choose. Some cards offer zero fees for foreign transactions, while others may charge fees for certain services or transactions.

How do I use a prepaid travel card?

You can use a prepaid travel card like a debit card, making purchases and withdrawals at merchants and ATMs that accept the card network (e.g. Mastercard or VISA). You can also top up the card using an app or online portal.

Can I use my bank card from home while traveling abroad?

It depends on your bank or card provider. Some banks offer great rates on foreign transactions, while others may charge fees for every cost you incur abroad. Consider applying for a travel debit card or prepaid travel card if your bank card is not suitable for travel.

How do I top up my prepaid travel card?

You can top up your prepaid travel card using an app or online portal, or by transferring funds from your bank account.

What should I do if I lose my prepaid travel card or debit card while traveling?

You should contact the card issuer immediately to report the loss and request a replacement card. Some issuers may offer emergency card replacement services for cardholders traveling abroad.

Overview…

Prepaid travel cards and debit cards offer a convenient and cost-effective solution for managing your money while traveling abroad.

Consider your spending habits, travel plans, and the pros and cons of each option to determine which card is best for you.