Pre-Loaded Cash Cards

[Frank66]

I'm thinking of taking some cash with me, but was planning on getting on one of the cards that you load with cash before travelling, and then using the occasional ATM to keep my cash reserves up.
Anyone used one of the pre-loaded cards before?

 

[Kanga]

Yes, all the time. I take a pre-loaded cash card and a credit card that does not charge a currency conversion fee. Mostly I use cash on camino using the pre-loaded cash card for ATM withdrawals.

 

[jsalt]

I also take a pre-loaded cash card. Mine (South African) is charged 3 euros each time I make a withdrawal from an ATM in Europe. Jill

 

[Tia Valeria]

We have used Mastercard cash cards from Thomsons (UK) which work well. You can set up very secure on-line checking to see your balance too which is really useful. Cost 2€ per withdrawal but we just drew the maximum daily amount which at the time was 250€ in any 24 hours. The amount might have been increased recently.

Before leaving the UK we load with cash (fee free) so only pay the currency conversion cost, but you can load via credit/debit card and pay the fee. This latter means that you can load more if needed while away. We prefer a complete cut-out from our cards so cash works for us. We only use the cards in ATMs but they can be used like any other debit card without a fee. We just prefer to use ATMs and cash as we can see how many withdrawals we have made. We factor the cost in when loading the card plus a little in case the ATM itself also charges although so far none have. You can see where Mastercard's ATMs are by checking Mastercard's own website.

 

[Introibo]

Hi Frank
As well as taking cash and a credit card I picked up a pre loaded cash card from the post office.
I figured that having several separate sources of money would be prudent as long as you didn't
keep them all in the same wallet ! I only used the post office card for cash withdrawals from
ATMs and only then if the bank was open just in card the card "got swallowed"

 

[scruffy1]

If a pre-loaded cash card is lost, forgotten, stolen, broken or cracked, swallowed by the ATM on a Friday or a long weekend-its gone! Two credit cards from two different companies say Visa and Mastercard carried in two separate places solve this for me and your money remains accessable..

 

[ShellsG]

Forgive me if this is a stupid question but how is a cash loaded card better than just withdrawing money of my account through an ATM?? Is it the exchange rate that makes it a better option or???

 

[fiona99]

I used the post office one too.....used it to withdraw cash in cities ....enough to last a number of days. Took my bank card too just in case it didn't work....but seemed ok in cities.....did not use in smaller towns so can't comment on thay

 

[jsalt]

Forgive me if this is a stupid question but how is a cash loaded card better than just withdrawing money of my account through an ATM?? Is it the exchange rate that makes it a better option or???

Hi, not a stupid question at all. The exchange rate fluctuates severely for some countries. Once I have the euros on my pre-loaded cash card, I know I have X euros to spend. If I relied on my ATM card, and the exchange rate plummets, my Rands may last for only half the trip

 

[ShellsG]

Hi, not a stupid question at all. The exchange rate fluctuates severely for some countries. Once I have the euros on my pre-loaded cash card, I know I have X euros to spend. If I relied on my ATM card, and the exchange rate plummets, my Rands may last for only half the trip

But then likewise, if the original dollar should sky-rocket you lose out on the extra .....

 

[JudyInTexas]

Forgive me if this is a stupid question but how is a cash loaded card better than just withdrawing money of my account through an ATM?? Is it the exchange rate that makes it a better option or???

I'm considering getting one of these cards. If it is lost or stolen then I am only out the amount on the card. There is no chance that a dishonest person can drain my checking account or run up charges on a credit card.

 

[ShellsG]

So just talking this out loud for my benefit, not to be argumentative ..... if I carried one or two of these cards they would have to have a significant value on them for it to be of benefit (so I don't have to access ATMs) so if lost I would probably have to end my Camino early. If my credit card is stolen then I have a very low limit that I am responsible for, would be no where near what I would lose if I lost a pre-loaded cash card. I am very careful about where/when I use my bank card or credit card and have never had an issue with fraud (I know I am probably just lucky). So far the only advantage, for me, is the exchange rate possibly, and the fact that I would not be charged the bank fees for using an ATM

 

[C clearly]

There is no chance that a dishonest person can drain my checking account or run up charges on a credit card.

My bank guarantees against this type of fraud.

they would have to have a significant value on them for it to be of benefit (so I don't have to access ATMs)

But don't you need an ATM anyway, to get the cash?

It seems that the prepaid cards are much more commonly used in some countries (e.g. Australia) than others. My bank (a large one in Canada) doesn't offer them. I am planning to prepay enough on my credit card, to get a credit balance equal to my expected expenses. I will use my credit card at ATMs instead of my regular bank card which is connected to other bank accounts. The withdrawals will not be subject to interest because of the credit balance. There will be a modest fee for each transaction but that is a small cost for the convenience.

Am I missing some key point?

 

[Kanga]

Cash is king on the camino. We find that the credit card is only useful in larger towns or cities. Even then small businesses take credit cards with reluctance.

This year we found that the ATMs had a €300 withdrawal limit, with a €1.50 charge per withdrawal. One bank allowed a much larger withdrawal. I could never remember which it was. As I'm going back in September I'd love to use the same bank again. Does anyone know?

 

[C clearly]

Cash is king on the camino. We find that the credit card is only useful in larger towns or cities. Even then small businesses take credit cards with reluctance.

I understand that. I mean to use my credit card just to get cash from the ATM, instead of using a bank debit cards. I'll prepay it to avoid the interest normally charged immediately on cash withdrawals on a credit card.

 

[jsalt]

But then likewise, if the original dollar should sky-rocket you lose out on the extra .....

Yes, that could happen with the dollar, but unfortunately rarely ever does with some currencies, like the South African Rand.

The pre-loaded cash card is actually another bank account; you can access it at anytime online, for example, to see what the balance is, or what the ATM charges are. So if the card is lost or stolen, you can immediately access the account and either stop it, or transfer the funds that are still in it back to your original current account. Jill

 

[jsalt]

This year we found that the ATMs had a €300 withdrawal limit, with a €1.50 charge per withdrawal. One bank allowed a much larger withdrawal. I could never remember which it was. As I'm going back in September I'd love to use the same bank again. Does anyone know?

Hi, is there a 300 euro withdrawal limit in Spain now? Last year (July 2014) I could withdraw 500 euro at an ATM (not that I am suggesting anyone should draw so much at any one time). E.g.: La Caixa in Burgos, Caja Espana in Villafranca, and BBVA in Santiago. Any bank in Portugal would only give me 200 euro maximum. Jill

 

[mspath]

Whatever your budget and whichever card(s) you carry always have a stash of emergency cash. It need not be much say 4 × 20 and 2 × 5 euro notes. This stash might be very useful when an intense storm knocks all power out and no ATM works or during a long holiday weekend when the machines are 'milked dry'. As always it helps to be prepared!

 

[Kanga]

@jsalt Jill, this was in May on the Norte. I assumed the withdrawal limit was a ploy by the banks to make me pay more withdrawal fees. I had not considered it was some kind of government imposed limit.

 

[Deleted member 3000]

Charles Schwab offers a checking account and debit card that reimburses the ATM fee (but not the exchange rate percentage). I raised my ATM limit in the USA before going, but it did not change the 300E limit imposed by Spanish banks.

 

[scruffy1]

One of worse experiences on the Camino was #2. Had an amount of Swiss Franks from a previous vacation and thought that it would be no problem to exchange. Big Mistake! Even in Longono they had to bring in an expert with all the photo albums of world currency. Cash Euros or Credit Cards only!

 

[Rexi]

Cash is king on the camino. We find that the credit card is only useful in larger towns or cities. Even then small businesses take credit cards with reluctance.

This year we found that the ATMs had a €300 withdrawal limit, with a €1.50 charge per withdrawal. One bank allowed a much larger withdrawal. I could never remember which it was. As I'm going back in September I'd love to use the same bank again. Does anyone know?

Ive been using Santander (the red and white bank) and have taken up to 300€ out using my Aussie cash card many times. Its the only bank ive found so far that i dont get a withdrawal fee (i use the option 'withdraw without conversion' - as the money is alreay in euros). I got a deal with my cash card that i dont have a withdrawal fee in Europe either. (Ive been in South of Spain for 5 months now without issues using my cash card.)

 

[Tia Valeria]

If a pre-loaded cash card is lost, forgotten, stolen, broken or cracked, swallowed by the ATM on a Friday or a long weekend-its gone! Two credit cards from two different companies say Visa and Mastercard carried in two separate places solve this for me and your money remains accessable..

The Thomson Mastercard comes with a 'spare' card which can be activated if the first card is lost. We also carry our credit card in case of need (eg for accomodation in a hotel) We try never to use the card in a bank which is closed and also to use an internal ATM not an external 'hole-in-the-wall'.

 

[Patch]

Among the many current accounts I have in the UK is Norwich and Peterborough BS. They allow free cash withdrawals anywhere in the world plus sentinel gold which amongst other things will give access to very large cash sums if you loose your cards when traveling. I just have to transfer in/out 500 pounds a month.

 

[ShellsG]

So I am thinking my best option, for me, is the same as it has always been, my bank card allows me to carry cash and a credit card (allows me to shop ... hehehe, in Pamplona etc.)

 

[Frank66]

I don't know if this is the situation with all atm cards, but mine charges a withdrawal fee (a percentage of the transaction) for the facility of using the card outside the uk.

 

[ShellsG]

I don't know if this is the situation with all atm cards, but mine charges a withdrawal fee (a percentage of the transaction) for the facility of using the card outside the uk.

I am going to check with my bank on Monday. It may be worthwhile to set up a special account for this trip if it will decrease the fees that I pay. Either way the bank is going to get its share ..... one way or another !!

 

[Tia Valeria]

Our bank cards charge a fee, so does our credit card, plus the exchange charge/commission fee and the ATM may charge too. The Thomson Mastercard cash card only has the 2€ fee and we have never been charged an ATM fee in a Mastercard listed machine. It really does pay to research all the options. Loading with cash not by card means that we have no card fees to the bank but we do have to work at getting the cash to load as one transaction for the best exchange rate .

 

[SafariGirl]

For what it's worth I've just ordered a FAIRFX Mastercard. It was recommended on the Martin Lewis Moneysaving website. It charges €1.50 per ATM withdrawal; has a decent exchange rate when you load it; gives you an extra £8 if you load £500 or more and, if you haven't used all the money when you get home, you can use it in the UK to spend what's left on it.

 

[SafariGirl]

For what it's worth I've just ordered a FAIRFX Mastercard. It was recommended on the Martin Lewis Moneysaving website. It charges €1.50 per ATM withdrawal; has a decent exchange rate when you load it; gives you an extra £8 if you load £500 or more and, if you haven't used all the money when you get home, you can use it in the UK to spend what's left on it.

Oh yes and there's no fee to get one...