If you are planning to travel abroad, you might be wondering how to manage your money. Luckily, an international prepaid card is a great choice for many travelers. This is a card loaded with money in advance and used to pay for services.
The global prepaid card market can reach $5.5 trillion by 2027. The travel segment within this market is set to expand at a faster rate. (source: Globenewswire)
This article will focus on top reasons to choose an international prepaid card for travel. Also, we will share some tips to pick the best prepaid card for overseas travel.
Top reasons to choose an international prepaid card for travel
Here are some reasons for using an international prepaid card when traveling.
Save on fees
Many banks charge fees for using your debit or credit card abroad, such as foreign transaction or currency conversion fees. These fees can accumulate rapidly and diminish your travel budget.
With an international prepaid card, you can avoid these fees or pay much lower rates. Some cards even offer free ATM withdrawals worldwide or free currency conversions.
You might save $3 – $5 per ATM withdrawal by using a card with low or no ATM fees compared to using your regular bank card. Prepaid cards with fixed exchange rates can save you 1-3% on each transaction compared to other cards.
Stay in control
You are limited to spending the amount loaded onto the card. This helps you to stick to your budget and avoid overspending.
You can track your spending online or through a mobile app. Also, you will get alerts when your balance is low. You might easily top up your card online or at a local retailer.
Choosing an international prepaid card over cash offers a secure option, minimizing the risk of loss or theft. The card incorporates advanced security measures like chip and PIN technology, durable materials, and tokenization, providing robust protection against physical manipulation and data breaches.
Multi-factor authentication and real-time monitoring further enhance security, ensuring cardholders’ peace of mind and quick response to potential unauthorized transactions.
Some international prepaid cards offer additional benefits, such as travel insurance, cashback, rewards, discounts, or airport lounge access.
Some prepaid cards give you 1% cash back on every purchase. Others can offer 3% cash back. You can redeem your points to make charitable donations or get cash back.
These advantages can elevate your travel experience and help you save money. You can also use your card to make online purchases or bookings from foreign websites.
Travelers can use these cards for various purposes. This includes making purchases at local shops and dining at restaurants. They can withdraw cash from ATMs regardless of the destination.
Cards from Visa, Mastercard, and American Express are generally popular in over 200 countries worldwide. Certain prepaid cards designed for international travel boast even wider acceptance, reaching up to 210 countries or more.
How to choose the best prepaid card for international travel?
Choosing the best prepaid card for international travel depends on your individual needs and priorities.
Here are some key factors to consider:
Some cards have annual fees, while others don’t. Choose a card with no annual fee if you’re only using it for a short trip.
Compare fees for ATM withdrawals, foreign currency transactions, and online purchases. Look for cards with minimal or no fees in your most likely use cases.
Foreign exchange fees
Some prepaid cards lock in exchange rates at the time of loading, while others charge fees for currency conversions.
Ensure the card’s network is compatible with ATMs and merchants in your travel destinations. Visa and Mastercard are widely used.
Consider if the card allows loading and spending in multiple currencies. This can be convenient for multi-country trips.
Check how easily you can reload the card during your trip. Some cards allow online top-ups, while others require visiting a physical location.
Pick cards with chip and PIN technology and transaction monitoring for added security.
Analyze your typical travel expenses and choose a card with appropriate limits and features.
Research average costs and ATM availability in your destination to plan accordingly.
Here are some additional tips
Check online reviews and expert comparisons of different prepaid cards to get a wider perspective.
Contact the issuer
If you have any questions, don’t hesitate to contact the card issuer for clarification.
Don’t rely solely on prepaid cards: It’s wise to carry a backup credit card or cash for unexpected situations.
DNBC Prepaid Card for overseas travel
DNBC Prepaid Card is your key to a world of convenience, security, and freedom. Whether shopping or traveling, this card empowers you to take control of your money.
With swift and secure payments through contactless and EMV chip technology, 24/7 fraud monitoring, and global acceptance, it serves as your perfect travel companion.
The DNBC Prepaid Card offers multi-currency freedom, eliminating currency worries and providing a hassle-free experience.
You have multiple payment options, contactless payments, and worldwide acceptance. You can opt for Virtual and Plastic Prepaid Card for secure transactions and enhanced security features.