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09/11/2010 / craigmartinallen

CURRENCY CARDS

PRODUCT

http://www.guardian.co.uk/money/2010/jul/03/prepaid-currency-cards-compared
Jill Papworth
The Guardian, Saturday 3 July 2010
Currency cards offer a secure and convenient way to take money abroad.
Cash Passport is a prepaid MasterCard currency card, one of a new breed that combines the security benefits of travellers cheques with the convenience and flexibility of a debit or credit card for those going abroad.
The deal with prepaid chip and pin cards is that you load up with currency before you go (normally a choice of euros, dollars or sterling), rather like a pay-as-you-go mobile phone, and then use it abroad to pay for goods and services, and withdraw cash from ATMs.
You cannot spend more than the balance on the card, so they are useful in helping people stick to a budget. Prepaid travel money cards can also be easily reloaded online (handy for parents whose gap-year kids run out of money), by phone and in some cases by text message.
The big security plus is that they are not linked to your bank account and are pin-protected so, unlike debit cards, give fraudsters no way of accessing your bank or personal identity details nor, should they get hold of your card, any way of running up credit at your expense.

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