Travel cards demand to increase day by day. It is more secure to carry than having physical cash and gain popularity among families travelling on holiday. Easy to use, easily top-up while out of the country and offer a better exchange rate than exchanging money
The post office offers you to top up your prepaid card with thirteen different currencies and you can spend it anywhere in the world through MasterCard logo ATM
How Post Office travel card work and, above all, is it in money to get it?
We will review its salient features, pros and limitations. After this review, you can then compare the Post Office Travel Money Card with another alternative such as Transferwise multi-currency card and to determine the best travel money card for your next journey.
Table of Contents
Exchange Rate
The exchange rate that the Post Office card offer move according to the demand for currencies and does not fix. How much money you will receive on a specific date will depend on the exchange rate at the time of purchase.
The exchange rate of the Post Office card can be check through its website, post office travel money card app and its branches. Keep in view that the exchange rate fluctuates whether you are buying through online in-store or via phone
You also need to keep in mind that the exchange rate that the Post Office decided to buy or sell a currency include some markup. They charge it without knowing by you.
Mid-market Rate vs Tourist rate
Some other cards such as TransferWise use the mid-market rate, in contrast to others, without charging a mark-up. As an alternative they only charge a small transparent fee. The mid-market rate can be found through Yahoo Finance or Google and what banks and other currency providers use it when trading currencies with each other.
Thus it is considered to be a reasonable and fairest option.
Fees & Charges
Post Office prepaid card can be provided without any charges. Nevertheless, you will be charged if you use it to withdraw cash through ATM. These fees vary to the currency you used.
You will be charged per transaction. For example, if you withdraw Euro then Post office will charge €2 per transaction and $ 2.5 for US dollar transaction. To save these charges, withdraw all the cash you need in one transaction.
Keep in mind that ATM operator will also charge you a small some as a fee on the transaction.
While withdrawing your money abroad, you might be asked whether you want to process the purchase in sterling or local currency of that country. This is called Dynamic Currency Conversion (DCC).
If there is such choice, choose to charge in local currency where you are in because it will charge less than charge in sterling.
No charges will be deducted by the Post Office for converting money between currencies on your card.
Lastly, an inactivity fee per month will be charged if you don’t use your travel card for a year.
Currencies Supported
Following are thirteen currencies in which you can Top up your Post Office prepaid Travel Card,
- US Dollar (USD)
- Euro (EUR)
- Canadian Dollar (CAD)
- Australian Dollar (AUD)
- New Zeeland Dollar (NZD)
- Croatian Kuna (HRK)
- Pound Sterling (GBP)
- Polish Zloty (PLN)
- Swiss Franc (CHF)
- South African ran (ZAR)
- Turkish Lira (TRY)
- Thai Baht (THB)
- UAE (AED)
Card Limits
Between £50 and £5,000 can be top up to your card in any of above-listed currency. The maximum amount that can be held in Post Office prepaid card is £10,000 at a time and the maximum amount that you can spend on your card throughout the year is £30,000.
The maximum amount that can be withdrawn at a time varies from currency to currency.
Withdrawal limit for US Dollar is $500 and €450 for euro per single transaction.
App Overview
The free app can be downloaded from the Apple App Store and Google Play. Through the app, you can manage your account such as to top up your card, monitor your balance, see your recent transactions track exchange rate and update your details.
Post office travels Insurance policy and also be purchased through this app.
How worthy is the Post Office Prepaid Travel Card?
It is handy to have a Post Office travel card in travelling as it will make your money safe. It is quick and easy to pay in local currency. It also helps you to constrain to your budgeted amount because you can only spend the amount that you have on your card.
As you can top up your card with thirteen different currencies, it is convenient if you take multi-destination holidays or if you travel regularly into these countries. However if you want to travel far-flung places, then you might need a card that supports more currencies.
Another drawback is that a hidden markup is a charge on the exchange on each transaction that you take. With the addition to this ATM provider also charged every time you use your Post office travel prepaid card at an ATM, while another travel card may offer you a better deal.
Apart from these, if you are going towards a credit card, Tandem Journey Credit Card is a good option having no annual fee, fee free transaction abroad, and also approved with a low credit score.
Thus, it is vital to shop through different travel card providers and then compare the fee charged, this will ensure you that you pick a right card otherwise it will cost more.
Another travel card such as TransferWise debit card may make your need better. The fund can be kept in more than forty different currencies with the addition to this you can take up to £200 per month from ATMs free of charge.
How to Get and Use a Post Office Travel Card?
You can get Post Office travel card if your age is more than eighteen and a UK resident.
Ordering your Card
You can order your card at any Post Office branch. Some branches provide the travel card on the spot. If they can’t, then they will post on your provided address within six days.
You need to provide your identification information such as National identification or passport.
Alternatively, you can apply for a card through online and you will get it within one week. All you need is to provide the personal information that they required.
Card Activation
You need to activate your card before you use it. You can activate it through PIN or six-digit access code. You can activate through customer support or the Post Office website.
Using your Card
You can use your Post Office travel card anywhere that accepts MasterCard, at ATMs and online. The Post Office currency card term and condition list places or situation where you shouldn’t use it.
These include paying road tolls, hire car deposits, for petrol at self-service pumps, for items on cruise ships or planes
How to Top-up your Card
Travelcard can be top up through online, at a Post Office branch or using the app
Buying Back Currencies
To get your unused money back, you need to contact the centre of visit Post Office branch. You will receive it in sterling and any other currency will also be converted to sterling using exchange rate at that date.
Contact
If you are in the UK, you can contact on 0344 335 0109, if outside the UK then +44 (0) 20 7937 0280.
These lines are open for 24 hours and 7 days a week.
Alternatively you can also communicate Post Office Travel Card Customer Services department
• By email at [emailprotected].
•By post at PO Box 3232, Cumbernauld, G67 1YU, UK
Troubleshooting Tips
Some of the common problem that you might face with your travel card.
How to Report a Lost or Damaged Card?
If you lost your card or find it damage, you just need to contact the centre. They will block your card and dispatch a new card on your address
What if You’ve Forgotten your PIN?
If you forget your PIN, contact the centre. They will ask for basic information after that they will then issue a new PIN
What Happens when Card Expires?
After expiry, you will receive a new card automatically. If not received then contact the centre and they will issue you a new card
![Post Office Travel Money Card Review [ UK's Choice ] - Banking & Finance (1)](https://i0.wp.com/businessfinancearticles.org/wp-content/uploads/2020/06/lisa.jpg "Post Office Travel Money Card Review [ UK's Choice ] - Banking & Finance (1)")
Lisa C. Townes
Lisa is a passionate travelers. She spends 3 months every year visiting different places worldwide. She has visited almost every famous place in the world. She herself is an affiliate blogger
FAQs
Is Post Office travel money Card any good? ›
The Post Office travel card is handy to have if you're travelling and want to keep your money safe. You won't need to carry cash around with you, or have to take time out of your trip to change currency. Paying in local currencies is quick and easy, especially as it's a contactless card.
Can I use my Post Office travel money card in the UK? ›Spend your money in the UK as normal. We will move the money to Sterling every time you pay for something. Anything you don't spend stays in the currency you have on the card. No fees apply, we just use the day's exchange rate.
What is the best card to use when traveling to the UK? ›The best travel card for the UK is the Wise Multi Currency card for tap or swipe large transactions like accommodation and restaurants. Wise offers the best exchange rate for British pounds globally and charges no international transaction fees.
What is the disadvantage of travel money card? ›Travel card fees tend to be higher than the typical credit/debit card. There can be fees for: Loading and reloading pre-paid cards.
Is it better to get a travel money card or cash? ›Depending on where you travel to, not all destinations or vendors will accept a travel card as a form of payment. Because of this, it may be a good idea to take some cash with you on holiday to avoid tricky situations where your card may not be accepted. Fees: There may be fees associated with certain travel cards1.
What is the best travel money card for USA? ›- Wise Multi Currency Prepaid Card - Best Exchange Rates.
- Travelex Money Card - Best All Rounder.
- HSBC Everyday Global Travel Card - Best Travel Card by Bank.
- Bankwest Breeze Platinum Credit Card - Lowest Interest Rate.
- ING One Low Rate Credit Card - No Annual Fee.
Yep, we used the Post Office card in our July 2011 trip. No problem with it at all, and it was accepted everywhere we went. We put about $1,400 dollars on it and brought a further $1,600 cash ( and came back to the UK with around $400 unspent ).
Do I get charged for using my Post Office card abroad? ›*No charges when you spend abroad using an available balance of a local currency supported by the card.
Can I transfer money from travel card to bank account? ›Go to your closest branch and fill out the relevant papers to transfer funds from your travel card to a bank account. Transfer money from a forex card to a bank account.
What American cards are accepted in UK? ›American credit cards work throughout Europe (at hotels, larger shops and restaurants, travel agencies, car-rental agencies, and so on); Visa and MasterCard are the most widely accepted. American Express is less common, and the Discover card is unknown in Europe.
Will my US card work in the UK? ›
Despite some differences between European and US cards, there's little to worry about: US credit cards (Visa and MasterCard) generally work fine in Europe. I've been inconvenienced a few times by self-service payment machines that wouldn't accept my card, but it's never caused me serious trouble.
What UK cards can I use in USA? ›If you're travelling to the States, you can use your Visa, Mastercard and American Express cards everywhere. Banks are common and ATMs are inside most corner stores as well.
Which card is best for international travel? ›| CREDIT CARD | PAISABAZAAR'S RATING | |
|---|---|---|
| SBI Elite Credit Card | ★★★★ (4/5) | CHECK CARD OFFERS |
| IDFC First Wealth Credit Card | ★★★ (3.5/5) | CHECK CARD OFFERS |
| HDFC Diners Club Privilege | ★★★ (3.5/5) | CHECK CARD OFFERS |
| RBL World Safari Credit Card | ★★★★ (4/5) | CHECK CARD OFFERS |
- Wise - our pick for travel debit cards.
- Revolut - low fees.
- HSBC - good for cashback.
- Macquarie Platinum - no bank withdrawal fees.
- ING Orange Everyday - cash back option.
Travel rewards cards are a fantastic option for people who can put their various benefits to use. If you're earning enough points or using those free night awards consistently enough to justify the annual fee, then it's worth paying.
Does post office travel card have a transaction fee? ›There are no charges when using your card in retailers in the country of the currency on the card. This means that a €20 purchase in Spain would cost you €20 and will be deducted from your euro balance.
What is the best card to use while Travelling? ›- Wise Travel Card Best Exchange Rates.
- Travelex Money Card Best All Rounder.
- Revolut Best for Low Fees.
- Bankwest Breeze Platinum Best Travel Credit Card.
- Pelikin Student Traveller Card Best Student Card.
- HSBC Everyday Global Travel Card Best Travel Card by Bank.
| Credit Card | Best For |
|---|---|
| Axis Bank Titanium Smart Traveller Credit Card | For Travel Privileges |
| Yatra SBI Card | Offers on travelling with Yatra |
| IRCTC SBI Card Premier | Railway booking discounts |
| Axis Bank Vistara Signature | Offers on bookings with Vistara |