New Travel Money Card

[verviale]

Returned to work today after a four week break and thought I would mention the above card the bank has launched,it may be more appropriate for people who live in the u.k and travel to France and the rest of Europe.It costs £7.50 to purchase and you can put up to £3000.00 worth of euros onto it.It is free to load and is accepeted anywhere there is a visa sign.if it is lost or stolen the balance is refunded.I do not know any finer detail at this point,and will post as soon as I do.I have posted this just for information. If you have any questions,I will gather them up and look at all the terms and conditions tommorrow and update the post.Its the bank with the horse as it logo.

[booboo]

Mmm sounds interesting; I wonder if they charge for cash withdrawals/payments? Sounds similar to the French Moneo "pocket money" system.

[Will]

No, they don't actually charge (except for withdrawing cash). How I think it works is that you buy the card for £7.50, then top it up with between £150 and £3000 worth of euros or dollars. The card lasts for two years. You can make further top-ups (min £50) by phone. When it expires you can transfer the balance to a new card or take the money. You can use it anywhere a Visa card is accepted - there is no charge other than a £1.50 charge for each ATM withdrawal. Presumably the bank funds it from interest on your pre-payment and commission from Visa retailers.

The Lloyds TSB card is said to work like similar cards from the Post Office and Amex, but is cheaper.

It should work out better value than making a lot of euro payments on a normal credit card, but I don't know what exchange rates are applied so this may not necessarily be the case.

[verviale]

[quote user="Will "]

No, they don't actually charge (except for withdrawing cash). How I think it works is that you buy the card for £7.50, then top it up with between £150 and £3000 worth of euros or dollars. The card lasts for two years. You can make further top-ups (min £50) by phone. When it expires you can transfer the balance to a new card or take the money. You can use it anywhere a Visa card is accepted - there is no charge other than a £1.50 charge for each ATM withdrawal. Presumably the bank funds it from interest on your pre-payment and commission from Visa retailers.

The Lloyds TSB card is said to work like similar cards from the Post Office and Amex, but is cheaper.

It should work out better value than making a lot of euro payments on a normal credit card, but I don't know what exchange rates are applied so this may not necessarily be the case.

[/quote]Just a couple of things to add to Will,s post Atm withdrawal up to £250.00 per day.If you want the money transfered back to your account there is a £5.00 charge.There is a renewal fee after two years of £5.00.Other competitors do similar cards, post office charge £10.00 RBS and Nat west charge £15.00.Currency conversion if you use the card in a non euro country 2.75% of the transaction.Might be a good way of saving for a holiday, putting some money onto the card each month.