Volunteer Abroad For Free

Travelling overseas can be a fun and exciting when everything goes right, one of the hassles when traveling overseas is having easy access to your money. While carrying wads of cash isn’t the safest option when travelling overseas, carrying a prepaid credit card could be.

Just like a normal VISA or Mastercard credit card, you’ll have access to your funds via the millions of ATM’s around the world that accept VISA or Mastercard credit card. The difference between the prepaid credit cards and normal credit cards is that prepaid cards do not have a line of credit attached to the card.

Prepaid credit card users have to top up the prepaid card in order to use the prepaid card.

We’ve listed some of the benefits of the prepaid card.

• Available to people under 18 years old.
• Not linked to a bank account or credit card.
• Can be used for online purchases.
• No interest paid on cash advances or purchases.
• Prepaid Credit Cards can easily be activate/deactived.
• Transaction fees (in most cases) are on par with credit card companies.
• No monthly maintainance fees.
• No annual fees.
• Accepted where all VISA or Mastercard credit cards are accepted. (dependant on the type of card i.e VISA or Mastercard)
• Prepaid card limits as high as $22,000 (Through Bopo Prepaid Credit Cards, after completing 100 point identity check)
• Low risk of fraudulent transactions due to low prepaid entry level.(Risking hundreds of dollars instead of thousands on credit)

These some of the disadvantages to the prepaid card.

• Most banks offer a VISA or Mastercard Debit card which is linked to their personal account.
• When used regularly, transaction fees can add up just like credit cards.
• Some shopping centres don’t accept payment from prepaid credit cards.
• Adding funds to up your prepaid card can take 1 - 2 days. (faster if over the counter, though we’re unsure how funds will be topped up in third world countries, unless process was completed via funds transfer. We’ll try to get more information about this)

The prepaid credit card, as you can see do have it’s inherent problems when using it’s service when overseas, though this seems to be the cost of travelling overseas whether you use the prepaid credit card of standard credit card.

We’ve  has a look at several reviews for the bopo prepaid visa card for Australian travellers and currently weighing up other options for other travellers, which we’ll update over time.