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Debit Card Comparison - Top 10 Best Debit Cards

Published on 9 May 2016 in Multi - Pay As You Go by Raffick Marday

Top 10 Best Debit Cards

Debit Card – The Best Prepaid Debit Card
Prepaid Debit cards, also commonly referred to as prepaid cards, can be a veritable lifesaver for everyday use or even when vacationing in a foreign country. These Debit cards are highly acclaimed for providing a wide variety of value-added benefits when contrasted with the traditional credit cards that cannot be overlooked. In essence, you get to pick a given Debit card, which in the context of this article will be the Sterling debit card. Then, you will be able to conveniently top it up with the exact amount of sterling you wish. The minute you get the card activated in the UK, you will then use the debit card to foot your everyday spending, either directly or you can make cash withdrawals. The debit card is arguably one of the best cards used in the UK, which is currently made available in the market. Here are some of the most notable reasons why this is the case.

The prepaid Debit card has its very own competitive rate of charges depending on the card you choose.

Unlike a good number of its competition that utilises either Mastercard or VISA exchange rates, prepaid Debit card possesses its own exchange rate. While it is subject to the usual fluctuations, it is still regarded as the most competitive among sterling cards. Even better, when you preload your prepaid Debit card, you will get a fixed exchange rate when using abroad. What this really means if your timing is right (when the dollar is stronger than the pound), you will get to gain and you can retain that rate until the card is depleted. This is a stark contrast from what you would get from opting for a credit or debit card. All of which tend to operate on real-time’ fluctuating exchange rates, which can make it infinitely hard to keep abreast of your spending abroad.

No foreign currency exchange rate fees

At the same time, most credit and debit cards usually charge an additional levy of around 2.75% on top of the exchange rate when you use them overseas. On the other hand, the FairFx dollar card, as with all the finest currency cards out there, will never charge any such fees. The former option maintains rather exorbitant cash withdrawal rates as well. But with the FairFx dollar card, this is not applicable as the cash in it has already been prepaid and is not borrowed.

Debit Card Comparison

A much better alternative to foreign usage’ credit cards

Granted, there are a number of credit cards, which are specifically designed for foreign use that does not impose foreign exchange charges. Some of the most prominent are Abbey Zero, Post Office Classic and even Nationwide Gold. Nevertheless, these particular foreign usage’ credit cards still come with cash withdrawal fees of approximately 2.5%. Also, they tend to carry overly hefty interest rates imposed on cash withdrawals. For instance, if you settle for the Abbey Zero credit card, you will be charged an interest rate of 25.9% for the cash withdrawals you make.
Conversely, with the prepaid Debit card, you will only be charged from £0.50 to £2.00 for each ATM cash withdrawal you make while in the UK.

Your cash is always secure with the prepaid debit card

Prepaid cards happen to be regulated by the Financial Conduct Authority, unlike some of its competitors. Generally speaking, what this signifies is the money you preload into the prepaid debit card will be deposited on what is known as a ring-fenced’ account. This type of account is separate from prepaid debit card own account. So, even in the unlikely event of this company going bust, you will still get to retain the cash you loaded into your card.

Additional benefits of settling for the prepaid Debit card

On a parting shot, here are some more reasons why the FairFx dollar card is the best dollar travel card, you could ever opt for. To begin with, you will be able to top up your FairFx dollar card completely free of charge via either a debit card online or a bank transfer. You will as well be permitted to make up to 3 different cash withdrawals on a daily basis. On the other hand, you will not be charged any till fee for using your FairFx dollar travel card in stores or restaurants. Finally, when you preload it with between 300 to 500 pounds, it will be credited with a free 8 pounds. Alternatively, preloading your FairFx dollar travel card with 600 pounds or above will see it credited with a free 20 pounds.

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