Prepaid currency cards have become an invaluable companion especially among frequent travellers. They offer many advantages and a number of high street banks such as Lloyds issue them. Other specialist providers including CaxtonFX and RationalFX also offer prepaid currency cards. We now continue our reviews with a focus at the Post Office Travel Money Card.
Who are Post Office Travel Money Card?
The Post Office Travel Money Card is available in three currencies, namely US dollars ($), sterling (£) and euros (€). It is issued and administered by the Bank of Ireland. Its office is located in Dublin 2, Ireland.
The Bank of Ireland is authorised by the Irish Financial Regulator and authorised and subject to limited regulation by the Financial Services Authority.
An introduction to the Post Office Travel Money Card
The Post Office Travel Money Card is not a credit card or a charge card; nor is it a debit card linked to a current account. Instead money must be loaded onto the card and the card must be activated before it can be used. The card can be used in any shops that accept VISA Electron payments.
The Post Office Travel Money Card offers the following advantages:
Security – The Post Office Travel Money Card provides 24/7 assistance and will replace lost or stolen card with your current balance pre-loaded. This is in contrast to many travel insurance policies which will only cover a limited amount of your money if it is stolen or lost.
Convenience – Never run out of local currency. With Travel Money Card, you don’t need to search for the nearest foreign exchange facility, just call to top up.
No extra fees – Receive best exchange rate, with no commission fee on euros or US Dollars
Reusable – There is no need to purchase currency every time you go abroad, just top up at your convenience and it’s valid for 2 years.
How much does the Post Office Travel Money Card cost?
Issuance of Post Office Travel Money Card is free and there is 0% commission for initial load on euro (€) Card or on U.S. dollar ($) Card. But there is a 1.5% commission for initial load on sterling (£) Card, subject to a minimum fee of £3, and maximum fee of £50.
- Minimum initial load is £50
- Maximum initial load in branch is £5,000
- Maximum initial load online is £2,500
- Maximum card balance is £5,000
- Daily cash withdrawal limit is £500
How can I get a Post Office Travel Money Card?
You can get a Post Office Travel Money card by visiting the company’s web site and clicking the “Purchase Card” button.
Which currency card would you like to purchase?
A euro card is recommended for Europe.
A US dollar card is recommended for the USA.
A Sterling card is recommended for anywhere else
if you are interested in finding out more about travel money cards, you might find our article “Currency cards – are they the best option for travel money?” useful.