Using pre-paid card to transfer money abroad

Last post Mon, Nov 26 2012, 10:39 PM by maxsteam. 1 replies.
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  •  Mon, Nov 26 2012, 10:39 PM

    Re: Using pre-paid card to transfer money abroad

    It's a good idea.

    You'd just need to make sure that you can load the card online and to make sure that the card works in the local Spanish cash machine. Some cards are specifically geared for overseas transactions but charges do vary. Remember that there will be exchange costs as well as, possibly, transaction charges. Some cards offer very competitive exchange rates.

    It would be sensible to start with a small amount just to see if things go smoothly. You should also not post the PIN in the same envelope as the card.

    You will be breaking the terms and conditions in so much as the card will be issued specifically for your use and it will be non-transferable.

    • Post Points: 5
  •  Mon, Nov 26 2012, 10:02 PM

    Using pre-paid card to transfer money abroad

    Hi guys

    As the title suggests I would like to understand if I can use a pre paid card to do this. The idea is to give the card to my brother, put money on the card every month online from the UK so he can take it from an AM machine in Spain. I would save quite a lot of money by not making bank transfers overseas (moneygram and western union also charge quite a lot) and on some of these prepaid cards there is no fees when take money from ATMs abroad.

    Would the card issuers have an issue with this? By going to several T&C's I couldn't find anything...

    • Post Points: 20