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What is a prepaid currency card?
A currency card is a type of prepaid card that allows you to make transactions abroad without accruing expensive fees or charges. Depending on your location, you have a choice of currencies you can put on the card, including pounds, euros or US dollars. The currency loaded onto the card is fixed at that day's exchange rate.
How do they work?
Prepaid currency cards work as follows:
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Top up the card
Depending on the card, you can load it with money when you apply or activate it. You usually do this from your bank account.
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Using the card
Once you’ve loaded your chosen currency, you use the card abroad. Make sure to check the small print for any limits when spending.
How to choose the best prepaid currency card
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Check card fees
Some cards might have fees for inactivity and monthly use. When you compare cards with us, we clearly highlight any fees the card carries.
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Compare benefits
Multiple currency cards may come with rewards, such as cashback or an overdraft. Make sure the benefits suit your needs.
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Number of currencies
Some cards support all currencies, while others will have a limited option. Think about where you’re travelling to before you apply.
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Seek out offers
Some providers may be running promotional offers. For example, you could benefit from additional cash when you load a certain amount.
How do I load money onto a multi-currency card?
You can load money onto a multi-currency card online, via a mobile app, or through bank transfer or debit card payment. Once logged in to your account, simply choose the currencies you want to add, the amount, and the payment method. Some providers also offer auto top-up options or allow you to lock in exchange rates.
How do I check my balance?
To check your balance, log in to your multi-currency card account through the provider’s website or app. You’ll be able to see your available balance in each currency, along with a breakdown of recent transactions. Some cards also offer SMS balance alerts or ATM balance checks.
How do I make the most out of my currency card?
Here’s how to make the most of your currency card:
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Avoid foreign exchange charges
Foreign currency prepaid cards are cheaper to use abroad than debit or credit cards. However, your card may still charge you for inactivity, for example. So, it’s important to pay attention to additional fees your card may charge.
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Stick to a budget
A prepaid card will help you with your financial planning, as you’ll know exactly what amount you’ll be able to spend. This can help you keep within your budget but it’s still a good idea to carry around additional forms of travel money in case of emergencies.
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Stay secure
If you lose your foreign currency prepaid card, you should contact the card provider immediately to cancel it. Many providers will either issue you with emergency cash or even send out a replacement.
Can I load multiple currencies onto the card?
Yes, it’s what multi-currency cards are designed for. You can load a range of currencies like euros, dollars, and more, all from one account.
This helps you avoid conversion fees when spending abroad, and lets you lock in exchange rates in advance, so you know exactly how much you're spending.
Will it cost me to withdraw from an ATM?
It depends on your card provider. Some multi-currency cards offer free overseas ATM withdrawals, while others charge a small fee per transaction. Always check the terms before you travel – and remember, local ATM providers might apply their own charges too. Withdrawing in the local currency usually avoids additional conversion fees.
Can I use the card for online purchases in different currencies?
Yes, multi-currency cards work just like a debit or credit card for online shopping. If you’ve already loaded the relevant currency, you’ll avoid extra exchange fees. If you don’t have that currency on the card, most providers will convert it automatically using their rates, so it’s worth checking the charges first.
What are the pros and cons of getting a currency card?
There are benefits and drawbacks to getting a currency card, such as:
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Pros
Budgeting: You can spend the money that’s on your prepaid card, which will help you to stick to a budget on your travels.
Multiple currencies: You’re able to load multiple currencies, which can make it cheaper to spend in different countries.
Protection: Currency cards tend to come with a similar level of protection as standard cards, including chip and pin authentication.
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Cons
Not very flexible: Could have restrictions on fund transfers and withdrawal limits, and may charge for ATM use.
Not widely accepted: May not be accepted everywhere, especially regions where there’s limited support for card payments.
Charges: Can come with extra costs such as monthly fees, inactivity charges and for topping up with a credit card.
Is my money safe with a currency card?
Yes, your money is generally safe when using a currency card. Most providers are FCA-regulated and required to keep your funds in a separate safeguarded account. While currency cards aren’t covered by the FSCS, your money should still be protected if the company goes bust. Many cards also offer PIN security and instant freeze features through an app.
What do I do if my card is lost or stolen?
What do I do if my card is lost or stolen?
Act quickly if your card is lost or stolen. Use the provider’s app or website to freeze your card immediately and report the issue to their customer service team. Most providers will cancel the card and issue a replacement. Keep an eye on your account for any suspicious activity and report anything unusual right away.
Are there any fees or charges with a currency card?
Multi-currency card fees may include the following:
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Monthly and annual fees
Some providers may charge you monthly for your prepaid card, while others might impose a yearly fee.
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Withdrawal fees
You could be charged for withdrawing money from the cash machine. Some prepaid currency cards will charge you for using your card to make withdrawals in the UK or abroad.
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Transaction fees
Your prepaid card provider might charge you a fee on every transaction you make. Not every provider will charge you for this, but transaction fees tend to be under £2.
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Inactivity fees
If your prepaid currency card remains dormant for a while you could be charged for this. It’s important to consider this cost, if you don’t think you’ll be using your card often.
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Loading fees
There may be a charge when you add funds to the card. Check the terms and conditions before you apply
How do currency exchange rates affect prepaid multi-currency cards?
Currency exchange rates affect how much of each foreign currency you get when you load your card. Some multi-currency cards let you lock in exchange rates when you top up, protecting you from rate changes later. Others use the rate at the time of spending, which can vary – so always check how your provider handles conversions.
What are the alternatives to a currency card?
Here are some alternatives to using a prepaid currency card:
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Debit card
Use your regular bank card abroad, but watch out for foreign transaction and ATM fees
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Credit card
Great for travel protection and rewards, though exchange rates and charges can vary
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Cash
Handy for small purchases or tipping, but risky if lost or stolen
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Travel money
Order foreign currency in advance from banks or travel money services – useful for budgeting
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Bank transfer
Send money directly to overseas accounts, ideal for larger payments or regular transfers
Our expert says…
Multi-currency prepaid cards are a smart way to manage your travel money, letting you lock in exchange rates and avoid costly foreign transaction fees. They’re especially useful if you’re visiting multiple countries. Just be aware of potential fees for loading, inactivity, or ATM use – and always check the exchange rates offered before topping up.
Tim Heming Personal Finance Expert
Compare prepaid currency cards with MoneySuperMarket
If you’re a frequent flyer, then a prepaid currency card could be a handy way to manage your finances overseas.
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Check currency card offers
We compare currency cards from top providers, and we have a selection of deals you can choose. Sometimes providers may even run promotional offers, so you can get more bang for your buck.
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Compare features
We highlight key features of the card including perks on offer, such as cashback and rewards. We also clearly show you any associated fees with the card, so you know exactly what you’re getting yourself into.
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Apply in seconds
As soon as you’ve found a card you like, you can click through to the provider to apply online. Applying is quick and easy.
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Compare prepaid currency cards with MoneySuperMarket
If you’re a frequent flyer, then a prepaid currency card could be a handy way to manage your finances overseas
-
Check currency card offers
We compare currency cards from top providers, and we have a selection of deals you can choose. Sometimes providers may even run promotional offers, so you can get more bang for your buck
-
Compare features
We highlight key features of the card including perks on offer, such as cashback and rewards. We also clearly show you any associated fees with the card, so you know exactly what you’re getting yourself into
-
Apply in seconds
As soon as you’ve found a card you like, you can click through to the provider to apply online. Applying is quick and easy
Am I eligible for a prepaid currency card?
Most providers will require you to be 18 and over to take out the card, but you shouldn’t need a credit check because you’re not borrowing any money.
What currencies can I load onto the card?
This will depend on the card you choose. Some cards may offer selected currencies while others will offer all currencies.
How do I switch between multiple currencies on the card?
You can usually do this in online banking, where following your provider’s instructions you can switch between currencies.
Is there a minimum or maximum balance requirement for any of the currencies?
There may be a minimum and maximum balance requirement set by your provider, but this will depend on their terms and conditions, so check them carefully.
Is the currency card contactless?
You should be able to make contactless payments once you’ve enabled it on your card. This usually happens once you’ve made a Chip and PIN payment.
Is the money protected if the card is lost or stolen?
If your card is lost or stolen, you need to contact the provider ASAP to get it blocked.
What is the difference between a travel card and a prepaid card
With a travel credit card, you’re borrowing money from the lender to spend abroad. When you use a prepaid card, you’re topping up the card with your own money.
Can I reload my currency card while traveling?
Yes, most multi-currency prepaid cards allow you to reload funds while abroad via their app or website. This means you can add money whenever you need to, helping you stay flexible during your trip. Just check if there are any fees or limits for top-ups while overseas.
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Reviewed on 5 Dec 2025 by
