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Compare the Top 10 US Dollar credit cards

Published on 12 August 2017 in Multi - News by Raffick Marday

Cheapest US Dollar credit cards

When someone thinks of travelling abroad, cash is indeed a necessity. But in today’s technology, there are already many different ways of exchanging money and doing your transactions. For most holidaymakers and wanderers, prepaid travel money cards have gained popularity due to its ease of use and safer features. Yet, despite its favourable offerings, there also lies hidden undesirable elements.

What makes a prepaid travel money company one of the top 10 US dollar currency cards? Let’s know-how with these brief and avoid committing and regretting money mistakes.

Money Security

  • PRO: Any traveller would definitely want to have their treasured-cash be safely stored in these travel money cards. Best prepaid money cards would deposit the customer’s cash in a banking building society or a bank. When cash is loaded onto the card, the cash goes to a ring-fenced account which is separate from the account of your prepaid provider. Hence, when the prepaid company goes broke, your cash will still be retained in the building society or bank where your money is.

  • CON: However, if it is the building society or the bank that goes broke, your cash will no longer be protected in this scenario. The reason is that with prepaid travel money cards, cash is characterized as electronic money more than as normal savings
    account. Hence, it is not covered and insured by the Financial Services Compensation Scheme. It is recommended to just use such cards only on immediate spending requirements, rather than as your savings storage.

When Accidentally Lost or Misplaced

  • PRO: When you lose your money card, you can always report it and have it blocked without losing any amount of money. A fee for replacing the card might sting a bit, but still smaller compared to losing all your travel cash.

  • CON: Your travel card may contain important information about you. It could be used to a series of small fraudulent transactions without your notice. Hence, always notify your provider as soon as you have known that your card is lost or stolen.

Foreign Exchange Rates Conditions

  • PRO: Unlike the debit and credit cards which calculate exchange rates while you spend, sought-after travel money card providers allow their customers to enjoy a lock-in rate on the day when the card is loaded and doesn’t fluctuate as the user spends. If
    the pound is weak during the time the card is loaded, the user gains.

  • PRO: There are some cards who negates application fees, but gets even on delivery fees and services.

  • CON: On the other hand, if the pound strengthens, the customer loses.On Fees and Charges

  • CON: This is one regard to consider that what you have makes it to the top 10 US Dollar currency cards. Travel prepaid cards
    usually carry with them charges and fees such as application and replacement fees, transaction fees, paying for the prepaid card and exchange rates. Hence, reducing such would entice more users to follow your prepaid card company and acquire your services. Additionally, don’t charge your customers for not actually using their cards.

Compare the Top 10 US Dollar credit cards

Aiming to be included in the top 10 list? Be sure to get notified by the above comparison to serve your customers and satisfy their
travel moments.

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