Product Category Guide

Prepaid Travel Cards: Travel money review

Load a fixed amount of foreign currency before you travel. Prepaid cards lock in your exchange rate and help you stick to a travel budget.

3.8
Editorial rating

Overview

Prepaid travel cards let you load foreign currency onto a card before your trip, locking in the exchange rate at the time of loading. They're widely accepted wherever Mastercard or Visa is, offer strong fraud protection (not linked to your main bank account), and help with budgeting — you can only spend what you've loaded. Providers include Travelex Money Card, Post Office Travel Money Card, and Caxton FX among others. While multi-currency apps like Wise have largely overtaken this category, prepaid cards remain useful for specific scenarios.

Key features

Lock in exchange rates before you travel
Not linked to your main bank account — added security
Budget control: can only spend pre-loaded amount
Widely accepted wherever Mastercard/Visa is accepted
Some cards allow top-up via app while traveling

Fees at a glance

Initial load Usually free; some providers charge for low initial loads
Exchange rate margin Typically 2-4% markup on mid-market rate
ATM withdrawal Often £1.50-£2 per withdrawal; check provider
Inactivity fee Some charge £2-£3/month after 12 months of no use
Reload fee Usually free via app/online; some charge in-branch

Fees shown are indicative and based on provider websites as of 2026-07-11. Check the provider's official website for current rates and terms.

Editorial ratings

(out of 10 per category)
Exchange rates 6/10

2-4% markup vs. mid-market — worse than apps

Fee transparency 7/10

Upfront but less competitive

Currency coverage 7/10

~20 currencies; multi-currency apps offer more

ATM access 6/10

Often per-withdrawal fees apply

Ease of use 8/10

Simple, no credit check, easy to gift

Best for

  • • Travelers who want to lock in rates before a trip
  • • Budget-conscious travelers (spend only what's loaded)
  • • Gift for travelers (parents loading a card for kids)
  • • Those who want separation from their main bank account

Not ideal for

  • • Multi-country trips (each currency is a separate 'wallet')
  • • Travelers who want the best exchange rates (multi-currency apps beat prepaid)
  • • Spontaneous travel (loading takes time)
  • • Large purchases (card limits may bind)
20+
Currencies
3.8
Editor Rating
prepaid
Type
Global
Availability

Availability

Available in most countries. Major providers: Travelex, Post Office (UK), Caxton FX, FairFX.

Frequently asked questions

Are prepaid travel cards better than multi-currency accounts?

For most travelers, no. Multi-currency accounts like Wise offer better exchange rates (near mid-market vs. 2-4% markup), more currencies, and lower fees. Prepaid cards win in two scenarios: (1) you want to lock in an exchange rate before a trip because you expect the rate to worsen, and (2) you want a card not linked to your main bank for security or gifting.

Can I use a prepaid travel card for hotel deposits?

Sometimes, but not always. Hotels and car rental companies often place a hold (pre-authorization) on cards, and some prepaid cards don't support this. Check your provider's policy. Multi-currency debit cards (like Wise) and credit cards handle holds better.

Last updated: 2026-07-11. Exchange rates, fees, and product features change. Always verify with the provider's official website.

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Disclaimer: This information is for general reference only and does not constitute financial advice. Exchange rates, fees, and product features are subject to change. Always check the provider's official website for current rates and terms before making a decision.