Travel prepaid cards are quickly becoming the preferred payment option among people who make payment transactions while they are travelling. They are rapidly replacing traditional travel payment options such as foreign currency and traveler cheques and are becoming the leading payment method for frequent travelers.
Below are a few reasons that make prepaid cards a travel essential:
Prepaid cards allow you to load money into your card account with any desired amount that is predetermined by the minimum and maximum charging limit by the prepaid card providers. Prepaid cards can be used to acquire money from an ATM machine or be used just like a traditional credit card to pay for purchases made in a store or online.
Easy to Acquire
Not only are prepaid cards easy to charge at any time and from anywhere in the world, acquiring a prepaid car is also very quick and easy. You only need to submit basic personal identification documents such as a photo of your passport or national identification card or driver’s license and proof of address of your current residential address and application approval is almost guaranteed. Most prepaid card providers often allow the application process to be processed online, this in turn makes submission of documents much more convenient for those with online access.
Promotes Responsible Spending
Prepaid travel cards remain an independent entity without any relation to your bank account or credit line. You will not be able to gain access to any credit or overdraft facilities with prepaid cards and this will help you keep your spending under check. Prepaid cards help promote responsible spending, the cardholder can easily retrieve information in regards to recent transactions and know the card’s balance. This will keep you informed about the funds left in your card and therefore, you will be able to manage your spending more judiciously. Most prepaid card providers will provide SMS and mobile App support, making personal finance management ever so convenient.
Visa travel cards are taking center stage at this time, especially as the economic slump is tightening its grip on the global economy. Prepaid cardholders no longer need to carry big amounts of cash with them when they are on a trip. Each card is allotted a PIN number and computer chip that contributes significantly to the safety of the prepaid card. As most cards are supported globally, you can inform your prepaid card provider about the loss of your card with the PIN number identifying your card to them. Customer support will instantly block all activities that involve the lost card and will make arrangements for a new or replacement card to be sent out to you. As prepaid cards are not linked to neither your bank account nor a line of credit, in the cases of lost or stolen card, the potential financial damage is limited to what was pre-charged in the prepaid card account. This in turn will negate any further monetary loss or damage to the cardholder’s personal credit score.
Most prepaid cards available in the market are accepted in most places around the world. Travel Visa cards can be used pretty much everywhere traditional credit or debit cards are accepted: in-store, online and ATM machines. This makes the prepaid card a great convenience for those who have frequent travelling needs. The exact extent of worldwide acceptance of your prepaid card will depend on your prepaid card provider, be sure to check with your card provider before your next business trip or vacation.
Now that you have a much better understanding to why prepaid cards are becoming a travelling essential, be sure to grab yourself a prepaid card before your next vacation! Please visit www.transact24.com today.