Foreign exchange group Moneycorp, who you will be familiar with if you travel from Gatwick, Stansted, Southampton, Southend or Bristol on a regular basis, has launched a new prepaid explorer MasterCard for holidaymakers.
As a special offer, Moneycorp is offering a £20 bonus to new customers who order a card and load it with at least £50.
Full details are here. This deal is branded as a Facebook offer because it is primarily being promoted on there. Moneycorp has confirmed to me in writing that anyone who applies via this link will definitely get the bonus despite not clicking through from Facebook.
The explorer MasterCard can be operated in £ or six foreign currencies:
- Pound Sterling
- US Dollars
- Australian Dollars
- New Zealand Dollars
- Canadian Dollars
- South African Rand
If you have a balance remaining on the card after your trip, you can convert it into a different currency in preparation for your next trip.
There are no foreign exchange fees when using the card as long as you are buying something in the same currency which is loaded to your card.
The full list of fees which do apply are here. You will not incur any fees if you do not use the card at an ATM, use it in the UK, or use it in a different currency to the one loaded on the card. There is no fee to order the card.
The exchange rate used to load the card is the same as that used by Moneycorp for online foreign currency orders. In a test yesterday it was offering me €1.1565 per £1.
Some people like the security of prepaid travel money debit cards. Regular readers of Head for Points will know that I am personally not a fan because it is an extra level of complexity over using your standard credit or debit card. However, the incentive of a free £20 credit for ordering a £50 card means that this is a good opportunity to give them a try.
You must be a UK resident aged 18+ to apply and you can only order one card per person. Cards take 7-10 days to arrive. You can change the PIN at any UK ATM.
The ‘free £20’ offer is available for applications until 31st August. The application page is here.
PS. The small print says that the £20 free credit may take up to 90 days to be added to your card, so do not expect it immediately
(Want to earn more miles and points from credit cards? Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)