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Pre-Paid Cards for Europe

The currency exchange connected with my bank says pre-paid cards with euros on them is the way everyone is traveling now. She says there is no fee and the more money on the card the better the exchange rate. What has everyone's experience been with these? Thanks,
Mark

Posted by
19099 posts

"says pre-paid cards with euros on them is the way everyone is traveling now" Bull $#!+. Everyone who doesn't know what they are doing, maybe. I don't think you will find an experienced traveler on this website who uses one. Find a new adviser.

Posted by
524 posts

Check the recent history on the Helpline. There have been several discussions with lots of specific reviews of the real "cost" of these cards. PP is correct! Don't do it.
Bobbie

Posted by
872 posts

Yes, do not use prepaid cards. Now that we have told you what not to do, I will be presumptuous and share with you what to do. Please use your debit card in Europe. You can most likely use at any machine, but try and use it with ATM machines that are attached to actual banks, and if you use it at the airport, make sure it is not a money exchange machine masquerading as an ATM machine. You will get the best exchange rate this way. Check with your bank to see what the fees are for international transactions, and if they are high and you have time, switch to a bank that has minimal fees. For example, my credit union charges only a 1% fee and reimburses me for any fees the machine I used may charge. Either way, take out large chunks of cash to minimize any potential fees and tell your bank that you will be using it abroad so that they do not put a stop on your card. Take the non-800 number with you just in case you need to contact them while in Europe. You can get cash as soon as you land at the airport and be on your way. You may also use your credit cards in Europe for better exchange rates. I have a Capital One card that does not charge any fees. There are some other ones that do this as well. As mentioned, do a search on this Helpline and you will see soooo much info on this to get you on your way.
Have fun! Do not use travelers checks. They are horrid and outdated. Perhaps the lady at the bank was comparing travelers checks to prepaid cards.