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Will I Save Using a Prepaid Currency Card

by Jim ONeil on May 26, 2011

in prepaid cards

As long as you have the money to fund them, absolutely! It is always unwise to travel with a pocket full of credit cards, especially when traveling on a longer trip. It is far too easy to throw the plastic on the counter and tell them to charge it.

When you have prepaid cards, at least you have a set limit and will tend to watch your spending habits a bit more carefully.

If you had planned on using your regular bank debit card, there may be minimal savings opportunities by converting over to a prepaid card. Actually, you may end up losing money in the process. Most debit cards are now affixed with either a Visa or MasterCard insignia.

This allows them to be used in the same manner as a credit card. If your institution does not charge a fee for using the card in this manner, why bother getting prepaid cards?

Prepaid cards charge a fee to load them in most cases. The fee is usually not too substantial, but it can add up. However, the one reason to go this route would be to protect you against theft. For instance, if your cash card was stolen, you could run the risk of having no access to money while the bank investigates the theft.

If the money were to be broken out into smaller amounts on a prepaid card, you would still have access to funds while the bank investigated the case.

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