Compare Prepaid Currency Cards
There are several benefits to using a prepaid currency card over other methods of paying abroad. On this page, we show you why and compare the best currency cardsThe Ultimate Guide to Prepaid Currency Cards
Ensuring you have a secure way to pay for things while away is essential. While cash is generally the most universally accepted form of payment, carrying large amounts can feel risky. A prepaid travel card offers a smart alternative, allowing you to load up with your chosen currency before you go and use it just like a regular debit card throughout your trip. This guide covers everything you need to know about prepaid travel cards and highlights our top recommendations to help you make the best choice.What Is a Prepaid Currency Card?
A prepaid currency card is essentially a smart alternative to carrying cash or using your bank cards abroad. Think of it as a "top-up" card, where you load it with money in advance, usually in the currency of your destination. You can then use it to make purchases or withdraw cash just like you would with a regular debit or credit card, but with some key advantages:
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Lock in exchange rates
Prepaid currency cards allow you to lock in an exchange rate before you travel, so you won’t be caught out if the pound weakens while you're on holiday.
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Spend in multiple currencies
Many cards offer the option to hold multiple currencies, meaning you can use one card for all your trips, whether you're jetting off to Europe, the US, or beyond.
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Reduced fees
Unlike using a credit or debit card abroad, where you might be hit with fees for foreign transactions or ATM withdrawals, prepaid currency cards often come with fewer charges.
Why Choose a Prepaid Currency Card?
There are several benefits to using a prepaid currency card over other methods of paying abroad. If you are looking to save money and stay secure, they're a fantastic option. Here's why :
No Surprise Exchange Rates
With a prepaid currency card, you can lock in your exchange rate at the time you load the card. This can be a great way to protect yourself from fluctuating rates, ensuring you know exactly how much you’re getting for your pounds. CompareTravelCash.co.uk can help you find the best exchange rates available when loading your card.
Low or No Transaction Fees
When using debit or credit cards abroad, you’re often subject to a foreign transaction fee, which can range from 2-3% of the amount spent. On top of that, some cards charge a fee for cash withdrawals. Prepaid currency cards, however, tend to come with little to no foreign transaction fees, and many allow free ATM withdrawals (though this can vary by provider).
Budget-Friendly
Since you preload the card with a set amount, it’s easier to budget your holiday spending. No overspending on impulse purchases—once the card’s balance is gone, you either need to top it up or wait until your next payday!
Added Security
If your prepaid card is lost or stolen, it can be quickly blocked and replaced, offering peace of mind that your holiday funds are safe. Plus, most cards aren’t linked to your main bank account, adding an extra layer of security against fraud.
Which Prepaid Currency Card Should You Choose?
There are various prepaid currency cards on the market, each with its own set of features and fees. Here’s what to look out for when choosing the right one for your trip:
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Currencies AvailableIf you’re travelling to multiple destinations, look for a card that supports a variety of currencies. Some of the best-known cards like Revolut or Wise allow you to hold several currencies at once, meaning you won’t need separate cards for euros and dollars, for instance.
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FeesPrepaid cards come with different fee structures, so it’s important to compare them before choosing one. Some cards may charge for initial loading, ATM withdrawals, or inactivity fees if you don’t use the card for a while.
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Exchange RatesGetting the best exchange rate is key to ensuring you get more foreign currency for your pounds. Always compare the exchange rates offered by different providers, as they can vary significantly. At CompareTravelCash.co.uk, we’ll help you compare the best rates for loading your prepaid card, so you can get the most value for your money.
Our Prepaid Travel Card Review
Looking for a travel card with great rates and low fees? We’ve done the hard work and compared the best options out there. But don’t forget—it’s always worth checking how our top picks stack up against the best holiday cash rates using our handy comparison tool at CompareTravelCash.co.uk. These cards give you flexibility. Spend directly in pounds, and you’ll automatically get the exchange rate on the day of your purchase. Or, if you’d rather know exactly what you’re getting, you can lock in a rate before you travel—perfect for budgeting peace of mind! Just remember, the features and options can vary from card to card, so it’s important to understand how you can use the card you choose. For example, some cards allow you to load currency in advance while others don’t. If pre-loading is an option, simply load up your card with pounds, head to your account online or through the app, and find the ‘exchange’ option. Choose the currency, check the rate, and if you’re happy, hit ‘order.’ Your pounds will then be exchanged, and your card will be loaded with the foreign currency, ready for your tripZing
Our top picks all use near-perfect interbank exchange rates, which are generally a touch higher than the standard Mastercard or Visa rates. These cards can be used anywhere in the world that accepts Mastercard or Visa, so the real difference often comes down to the fees each card adds on top.
HSBC-owned Zing charges an exchange fee starting at 0.2%, but until 30 April, you can exchange up to £500 per month fee-free. If your exchange is £500 or less, this makes Zing a top choice. For amounts over £500 or after the promotion ends, the rates remain competitive and may still beat the alternatives listed below for certain currencies—just be sure to double-check.
Zing also offers a free physical card, which includes complimentary ATM withdrawals in the UK. When travelling abroad, your first ATM withdrawal each month is free, with subsequent withdrawals costing £2 or the equivalent. To make the most of this option, it’s wise to limit overseas withdrawals if you go with Zing.
Revolut
Revolut’s standard plan offers fee-free currency exchanges for most currencies from Monday to Friday during UK hours. However, a 1% fee applies to weekend exchanges.
You can avoid this by loading your card with pounds in advance and exchanging during the week. This service covers over 30 major currencies, including euros and US dollars. Be aware that if you exchange more than £1,000 within a 30-day period, an additional 1% fee applies. You can use the free virtual card with digital wallets like Apple Pay and Google Pay. If you prefer a physical card, you'll need to pay a delivery fee—essential if you plan to withdraw cash. Each month, the first five withdrawals are free (up to £200 total), after which a 2% fee applies (minimum £1).
Wise
Alternatively, Wise charges a small exchange fee starting at 0.33%, which applies consistently, regardless of the day or time. The exact fee depends on the currency being exchanged. For instance, converting pounds to euros comes with a 0.33% fee, making Wise a better option than Revolut for weekend exchanges, particularly if you don’t want to plan ahead and exchange a set amount during the week.
In addition to competitive exchange rates, Wise offers two fee-free cash withdrawals per month, up to £200 each. After this limit, fees will apply, so it’s worth keeping track of your usage if you plan to withdraw cash regularly. This straightforward pricing structure makes Wise a solid choice for travellers looking for transparency and flexibility in their currency exchanges.
Our Comparison Prepaid Travel Cards
Important: All these providers are authorised by the Financial Conduct Authority (FCA), ensuring your money is protected. Any funds you deposit are ring-fenced, meaning they are kept separate from the provider's own accounts. Revolut and Wise use Barclays for their ring-fencing, while Zing states it works with multiple banks. This means that even if there are issues with Zing, Revolut, or Wise, your money remains safe—provided the banks they use for ring-fencing remain operational.
For weekend spending (UK time), Revolut applies an additional 1% fee to its rates unless you’ve secured a rate in advance during the week. Additionally, for amounts exceeding £1,000 in a single month, a further 1% fee is charged. It’s worth keeping these potential costs in mind when planning your spending to ensure you get the best value.
Travel Prepaid Card: Key Things to Know Before You Get One
If you’re considering a prepaid travel card for your next holiday, it’s important to be aware of a few key factors. Here’s everything you need to know to ensure you get the most out of your prepaid card abroad.
1. Lost or Stolen Card? Contact the Provider ASAP to Protect Your Cash
If your prepaid card is lost or stolen, act quickly and contact your card provider to block it and protect your funds. Most providers will issue a replacement card for a small fee, usually up to £10.
Be particularly cautious with contactless cards, as they could be used for small fraudulent transactions before they are blocked. Always notify your card provider immediately, and consider reporting the incident to local police for an incident number to claim any losses through your travel insurance.
2. Always Choose to Pay in the Local Currency
When you’re travelling, you may be asked if you want to pay in pounds or the local currency. Always choose the local currency, as dynamic currency conversion rates (when you pay in pounds) tend to be poor. Opting to pay in the local currency ensures you get the exchange rate that your prepaid card provider offers, which is typically much better.
3. Check if Your Card Supports the Currency You Need
Most prepaid cards allow you to load major currencies like euros, US dollars, or Japanese yen, but not all cards support less common currencies. Always check that the card you choose supports the currency of your destination. If it doesn’t, you’ll need to load the card with pounds and let it convert your money when you spend abroad. In this case, you’ll be subject to the exchange rate on the day of the transaction.
4. Your Money Should Be Safe if the Card Issuer Goes Bust
Prepaid card providers are required to hold your money in a ringfenced bank account separate from their operational funds. If the card issuer goes bust, your money should still be safe and retrievable from the bank or building society holding it. However, if that bank or building society goes bust, your funds won’t be protected, so it’s a good idea to check which bank your provider uses for its ringfenced accounts.
To be safe, consider only keeping enough money on your prepaid card for short-term spending rather than storing large sums for long periods.
5. Watch Out for Fees: Some Cards Charge for Not Using Them
Prepaid cards often have more fees than traditional credit or debit cards. Be sure to check for:
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Application and replacement fees: Some cards charge to open and replace the card after it expires (often after just 12 months).
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Monthly fees: A few cards charge a small monthly fee, which can add up over time. Transaction fees: Some cards charge for purchases or ATM withdrawals, especially abroad.
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Inactivity fees: Many prepaid cards penalise you if the card isn’t used for 12 months, charging around £2 per month.
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Topping up with a credit card: Using a credit card to top up your prepaid card may incur additional fees, as it’s treated as a cash withdrawal. Always use a debit card to avoid these charges.
6. Prepaid Cards Aren’t Accepted Everywhere
Although prepaid cards are widely accepted where you see the Mastercard or Visa logo, there are some exceptions. Car hire companies, for example, often won’t accept prepaid cards, or they may require a credit card for deposits. Similarly, some petrol stations and motorway toll booths might not accept them either, so always carry a backup payment option just in case.
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