Pre payment cards

[Blackcountry pilgrim]

Hi Everyone
We are getting ready for our Camino and was looking at pre payment cards that one loads with money and use along the way at business's and ATMs
usually when travelling I take a mixture of a few days worth of cash and rely on my bank card to draw money out as needed but thought I'd maybe look into the cards to save on transaction fees
I was wondering if anyone had any feedback as to how useful ( or otherwise!) they were....I would hate to be stuck on the Camino with a card full of money I couldn't access..cheers for any thoughts

 

[legless]

I use Revolut for travel and now at home as well, you pre-load it and you can top up using an app. I liked being able to have multiple cards (spares frozen) with me so that if a card was swallowed by an ATM it wasn't the end of the world. There's no ATM fees and currency conversion is fee-free.

Revolut – One app, all things money

Open a free account in minutes right from your phone, and make your money go further

www.revolut.com

 

[henrythedog]

Hi Everyone
We are getting ready for our Camino and was looking at pre payment cards that one loads with money and use along the way at business's and ATMs
usually when travelling I take a mixture of a few days worth of cash and rely on my bank card to draw money out as needed but thought I'd maybe look into the cards to save on transaction fees
I was wondering if anyone had any feedback as to how useful ( or otherwise!) they were....I would hate to be stuck on the Camino with a card full of money I couldn't access..cheers for any thoughts

There’s a catch to every financial product and with pre-paid cards it’s usually the exchange rate.

There are cards (in the Uk they include ‘creation’ and ‘Jaja’, which before 20 year old marketeers were in charge used to be ‘the post office’) which refund foreign transaction charges and offer fair fx rates.

In the US ‘Charles Schwab’ is often recommended, although I have no personal experience.

 

[Molly Cassidy]

Hi Everyone
We are getting ready for our Camino and was looking at pre payment cards that one loads with money and use along the way at business's and ATMs
usually when travelling I take a mixture of a few days worth of cash and rely on my bank card to draw money out as needed but thought I'd maybe look into the cards to save on transaction fees
I was wondering if anyone had any feedback as to how useful ( or otherwise!) they were....I would hate to be stuck on the Camino with a card full of money I couldn't access..cheers for any thoughts

My experience with pre-paid cards is that they work out more expensive, but some may be better than others.

 

[ivar]

Correos in Spain has a card like this…

Correos Pre-Paid Card - For secure payments.

Secure online or in-store payments with the Correos pre-paid card. Cost control.

www.correos.es

 

[lt56ny]

There’s a catch to every financial product and with pre-paid cards it’s usually the exchange rate.

There are cards (in the Uk they include ‘creation’ and ‘Jaja’, which before 20 year old marketeers were in charge used to be ‘the post office’) which refund foreign transaction charges and offer fair fx rates.

In the US ‘Charles Schwab’ is often recommended, although I have no personal experience.

I am an American citizen and I have a Schwab account. I call my broker and have cash available in my account. He never has to do that as there is always some money in a money market account. I pay no fees whatsoever and my card has never been rejected by any cash machine since I started using it 4 caminos ago. I have a backup ATM card from my bank if I need it as well as a credit card. I try to pay cash everywhere which is not too difficult for me as I am on a budget and stay almost entirely in municipals, donativos and some private albergues and cook and shop almost every day.
Works great and saves me alot of stress. On my first few caminos I would slide my card in and sometimes be shocked when the machine tells me that my charge. I have read as much as 8-10 Euros. Of course I cancelled my transaction. Now I don't have to worry as everything is reimbursed to me.
You do not have to be an American citizen or live in the United States to open an account with Schwab and take advantage of their services.

 

[DBC]

Hi Everyone
We are getting ready for our Camino and was looking at pre payment cards that one loads with money and use along the way at business's and ATMs
usually when travelling I take a mixture of a few days worth of cash and rely on my bank card to draw money out as needed but thought I'd maybe look into the cards to save on transaction fees
I was wondering if anyone had any feedback as to how useful ( or otherwise!) they were....I would hate to be stuck on the Camino with a card full of money I couldn't access..cheers for any thoughts

On the Camino currently. You will need a mix of cash and card. Not every village has a cash point. Smaller notes €10/€20 are better than large denominations. In the smaller towns, supermarkets and Albergues cash can be the only unit of payment accepted. Don’t assume the card is king - it has a transaction cost charged to the seller which is key for a marginal business.

 

[Hammockhanger]

Make sure that the prepaid card works internationally. I had friends gift me a $500 card for my first Camino. It did not work outside of the US.

 

[gerardcarey]

You do not have to be an American citizen or live in the United States to open an account with Schwab and take advantage of their services.

Not being an American citizen, or living there, I did apply for a Schwab A/C several years ago.
I was informed then that they were only for US citizens.
If possible, I'd appreciate a link to investigate again.
TIA
Regards Gerard

 

[lt56ny]

Not being an American citizen, or living there, I did apply for a Schwab A/C several years ago.
I was informed then that they were only for US citizens.
If possible, I'd appreciate a link to investigate again.
TIA
Regards Gerard

You can open an account if you are overseas. I checked and you are correct that in order to get a Schwab debit card you must be a US Citizen or US Resident Alien. Although I live in Mexico I remembered that I use my daughter's address as my address for Schwab as well as my other US banking and credit card accounts. Sorry for my mistake.

 

[DyanTX]

Just be sure to carefully read all fine print. Some of the preloadable cards charge a fee for every interaction including adding money, checking balance, purchase and others. Those fees add up quickly.

 

[Former member 95219]

Hi Everyone We are getting ready for our Camino and was looking at pre payment cards that one loads with money and use along the way at business's and ATMs usually when travelling I take a mixture of a few days worth of cash and rely on my bank card to draw money out as needed but thought I'd maybe look into the cards to save on transaction fees I was wondering if anyone had any feedback as to how useful ( or otherwise!) they were....I would hate to be stuck on the Camino with a card full of money I couldn't access..cheers for any thoughts

Just be sure to carefully read all fine print. Some of the preloadable cards charge a fee for every interaction including adding money, checking balance, purchase and others. Those fees add up quickly.

Just be sure to carefully read all fine print. Some of the preloadable cards charge a fee for every interaction including adding money, checking balance, purchase and others. Those fees add up quickly.

Agree. But assuming UK resident why wouldn’t you just get a regular account with a bank that offers free ATM and transactions within Europe?

Am I missing something?