Post Office Visa® Travel Money Card
The Post Office Visa® “Travel Money” Card is a prepaid card available to UK residents over the age of 18 and can be ordered through a Post Office branch or online, where it will arrive within a few days. Once you receive the card, it will need to be activated by entering your provided PIN and 6 digit secret code by calling customer support or filling out the information online.
There are a total of 23 currencies that Post Office prepaid travel cards support. The list can be found on Post Office’s website for your convenience. This card can be used in 36 million locations worldwide, including online, making shopping abroad simple and reliable.
The prepaid card can be loaded with any sum between the minimum of £50 and the maximum of £5,000 in any of the 23 currencies the company allows. The daily withdrawal limit depends on the selected currency. Topping up your card can easily be done on the Post Office app, which is free to download on every Apple and Android device. The app is helpful when checking your balance, monitoring past transactions, managing your account or freezing your active cards and tracking global exchange rates. You can also easily convert currencies using the app, which is convenient when vacationing in multiple destinations.
Travel Money Card Exchange Rates
Exchange rates fluctuate, depending on the demand of the specific currency. Therefore, you get charged based on what rate the currency is going for at the exact time of your purchase. Luckily, this can easily be tracked online or by using the Post Office app, which keeps you consistently up to date on current exchange rates. However, this may differ, depending on where you use the card. For example, the rate in a physical store may be higher, compared to their online counterpart.
Visa® Travel Money Prepaid Card Fees
Post Office offers prepaid cards free of charge to their customers. There will not be any charges when paying in local currency for goods and services, as long as the currency being used is one of the 23 that are supported. If the currency is not supported the cardholder will be charged a 3% “cross border fee”. You will also be charged an ATM fee when withdrawing funds. The charge differs and fluctuates depending on the type of currency used. It is recommended to withdraw larger sums to save on ATM privilege costs, since it charges the customer per use, not per amount withdrawn. Inactivity for a prolonged period of time will also cost you a small monthly fee and you will be charged when closing your account. This is a card best suited for people who travel frequently and either need to carry multiple currencies or large funds for vacationing or living abroad.
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The Post Office prepaid card can be used anywhere that MasterCard is accepted, at an ATM or when shopping online. You may need to sign the receipt or enter your PIN to verify your identity when making purchases at a physical location.
The Post Office Money Card is exceptionally handy when travelling and budgeting, since you can only spend what is loaded on the card. It is a safe and effective way to keep all of your cash safe, whether exploring just one country or several.