User:Vicki01761/Currency Cards

New article name is Currency Cards

Currency Cards are designed for travellers and overseas spending. Currency Cards are small plastic cards which can be loaded with a foreign currency at a pre-agreed exchange rate and can be used to make purchases from shops or withdrawals from ATM machines whilst abroad. Prepaid cards operate in a similar fashion to prepaid gift cards or phone cards allowing you only to spend up to the amount you have loaded onto the card. Unlike credit or debit cards you cannot overspend on a prepaid card.

Card Issuers
Prepaid currency cards are issued by Visa, Mastercard and Maestro and are available in Euros (EUR), US Dollars (USD), Pounds sterling (GBP), Australian Dollars (AUD), New Zealand Dollars (NZD), Canadian Dollars (CAD) and South African Rand (ZAR). The currency card comparison site Compare Currencyallows consumers access to a wide range of currency cards. It provides impartial advice and help for those looking to use a currency card whilst overseas.

Using the card
Currency cards can be loaded with funds at an agreed exchange rate either via phone, text, online or by visiting a provider in a branch. You will be given a 4 digit pin code for the card which allows you to use the card in shops and most ATM’s around the world. You can top up the funds on the card at any point by loading funds in one of the methods mentioned initially.

Benefits to customers
Prepaid currency cards offer an alternative way of carrying large amounts of money whilst travelling overseas. You do not need to show identification to use the card as required when using traveller’s cheques. If the card is lost or stolen a thief would only have access to the funds on the card and not to your bank account or private information. Once the loss or theft has been reported the card will be replaced and the currency loaded on the card is protected. The currency on the card is at a fixed exchange rate so exchange rate fluctuations will not affect the amount held on your card. One unique benefit of this card is that you cannot accumulate debt on the card whilst travelling as you are only able to spend the balance held on the card and nothing more. You can apply for additional cards for family members and friends. Prepaid currency cards are not credit scored.

Fees and Charges
Fees and charges will vary depending on the card issuer.

Major fees are for:
 * 1) Card purchase fee
 * 2) Purchase transaction fee
 * 3) ATM cash withdrawal fee
 * 4) Secondary Card
 * 5) Card Replacement
 * 6) Debit card refund