Visa Travel Money: What is the prepaid card and how does it work
The Visa Travel Money prepaid card generates many doubts and distrust in people. I always get messages from readers asking me the best way to take money for an international trip, if it’s worth using recharge cards, how Visa Travel Money works and so on.
It’s really hard to get it right amid so many options, variables ranging from exchange rates, taxes and, of course, security. I’ve already used all possible and imaginable ways, so I decided to write this post explaining in more detail what a travel money card is.
I also emphasize that when it comes to organizing the best way to take money for international travel, the ideal is to mix the options, have a little cash and the rest in cards. Having an international credit card is also important and can be very useful for some purchases.
All about the Visa Travel Money Card
To clarify doubts and know if it is a good option for your trip, the first step is to understand what Visa Travel Money is. The travel money card is a prepaid travel card designed to be used in international destinations.
To get a card like this, you go to the Visa website, buy the card, load it with the desired amount (in dollars, euros, pounds or other currency depending on the issuer) and that’s it, you can use it to pay for purchases at any establishment of the world to accept the flag.
In addition, it allows you to withdraw cash in local currency at thousands of ATMs accredited to the Visa/Plus network around the world and to register for the Vai de Visa promotions and offers program. But why is it more advantageous than a credit card?
Well, I believe that the biggest advantage in this sense is the control of expenses, since you will only have available the amount you load, with no more limit available, like standard credit cards. Plus, you’ve bought and paid, and you won’t get a huge bill when you get back from your trip.
To help you understand more about how this type of international travel card works, I have highlighted the following topics:
- How to use Visa Travel Money card?
- What is the best prepaid card for international travel?
- Travel money card fees
- How do I know my Visa Travel Money card balance?
- Visa Travel Money Advantages and Disadvantages
- Other tips for using prepaid travel card
Before continuing with the tips on the Visa Travel Money card, I invite you to watch the video of my trip around the world , which lasted 365 days and resulted in 365 articles on the topic that are available here on Quero Viajar Mais , in addition to this video produced with photos from the trip.
How to use Visa Travel Money card?
Visa Travel Money is an international prepaid credit card | Photo: Official Visa website.
As I mentioned, to purchase a prepaid travel card you must enter the Visa website and choose between the available options such as Visa Travel Money Basic and Visa Travel Money Platinum and also the issuing bank such as Banco Rendimento and MoneyCard – It is also worth checking at the bank where you are an account holder if it has a partnership with Visa for the prepaid card.
As it is a prepaid card, there is no annual fee and no need to prove a minimum income, but it is necessary to check with each issuing bank what the membership fee is. When purchasing the card, passwords are registered so that you can carry out all transactions.
An important tip that people forget is that when making a purchase, you should always opt for the credit function, as it works exactly like a credit card, but prepaid. In addition, you must ask the issuing bank to make the international purchase function available, so you can spend it wherever you are and on foreign websites.
With all this done, enough to recharge the currency that you will use and that’s it, just spend it on the trip. Banco Rendimento cards can be recharged in US Dollars, Euros, Pounds, Australian Dollars, Canadian Dollars and Argentine Pesos, while the MoneyCard issued by Bradesco, for example, accepts US Dollars, and BB’s Visa Travel Money in Dollars and Euros .
The use of the card is the same as your credit or debit card in Brazil, you make your purchase and present the card at the cashier, validating the purchase with your password. You can also withdraw money, have 24-hour access to the Visa Service Center, withdrawal and emergency replacement in case of loss or theft and the benefit of Travel Assistance Service.
To top up, you need to check the channels available from the issuing bank, which can be a call center, a website or even a specific app for the top up service.
What is the best prepaid card for international travel?
There are several brands of prepaid travel cards, including Visa, MasterCard and others. Visa Travel Money is most common among tourists, along with Mastercard Travel Money .
Honestly there is no difference between the two as both flags are well accepted anywhere in the world. The choice will depend on the conditions at the time of purchase.
Travel money card fees
When loading or recharging the card , an IOF tax of 6.38% is charged . An important detail is that your purchases will not suffer from the exchange variation, because as you will buy the credits, your travel budget will be calculated based on the quote on the day of the load.
This avoids surprises, because if during the trip the price goes up or down, the fluctuation will not affect you. There are no fees for using the card when it is loaded in the currency of the country where the money will be spent. However, if you buy credits in a different currency of the country, you will pay the exchange operation (for example, euro to dollar), which certainly won’t be worth it.
In turn, fees for ATM withdrawals cost US$2.50 per transaction, plus fees for using the equipment, which vary between banking networks. Check with each issuing bank to see if there are any other fees for using the prepaid card.
How do I know my Visa Travel Money card balance?
As well as to recharge the card, each issuing bank has several channels that facilitate the visualization of the balance, which can be a Call Center over the phone, the bank’s website or even the app. Or even the balance printed on the proof of payment. See the available options and choose the one that makes checking easier for you.
Visa Travel Money Advantages and Disadvantages
Benefits of the prepaid travel card
Withdrawing cash in local currency at ATMs is one of the advantages of the prepaid Visa card.
Among the advantages of this type of card are greater control , since it is possible to take out statements and track all expenses. Wide acceptance in local commerce , as Vista Travel Money, for example, is accepted in all commercial establishments in the world that work with the Visa flag. In other words, the network is immense.
Another important advantage is the ability to easily withdraw money in local currency (any cashier on the Visa/Plus network). It is also worth mentioning security , because in case of loss or theft, it is enough to inform the issuing company that the balance is blocked until a new card is issued.
In addition, it can be recharged via the internet , which can save your skin if you need more money during your trip, it also has 24-hour access to the Visa Service Center, the Travel Assistance Service benefit and participates in the Go Visa benefits.
Disadvantages of prepaid travel card
One of the disadvantages of the prepaid travel card is that the currency is traded for a higher amount than you would get if you bought the currency in cash. In addition, the IOF rate is 6.38%, as with credit cards, much more expensive than the 0.38% for the purchase of currency in cash.
Another unfavorable factor is that when loading the card with a currency different from the country you are visiting, you will lose 3 to 5% in currency conversions , compared to the fees you would pay if you exchanged dollars for euros at an exchange house, for example.
Other tips for using prepaid travel card
Always load your card in the currency of the country you are visiting, so you don’t have to pay the conversion fee.
The best way to use the card is to load it with the currency of the country you are visiting, so you don’t pay the conversion fee when making transactions. The travel money card, depending on the issuer, charges in US Dollars, Euros, British Pounds, Canadian Dollars, Australian Dollars, New Zealand Dollars, Swiss Francs and Japanese Yen.
Is it worth using Visa Travel Money?
It is difficult to say whether the prepaid travel card is more advantageous or not, it will depend a lot on the destination and type of expense that you will have. My tip is to research a lot, quote from several different companies and do the math before deciding.
To follow the price of foreign currencies, I monitor the values on websites and apps to see the dollar and euro exchange rate .
I’ve already tested several modalities and I believe it’s a practical and very safe way, so I usually recommend that you use cards and cash.
But, it has to be worth it for you. Is paying a tax and a higher exchange rate worth a 3-day trip to Buenos Aires, for example? Or would it be more useful if you were backpacking for 15, 30 days or months across Europe, avoiding carrying a lot of cash?
Put everything on the tip of the pencil, see your budget, how you intend to spend your money, which destinations you will visit and evaluate. All alternatives to take money on an international trip have advantages and disadvantages, choose what is best for you and enjoy the trip.
If you still have questions about how to purchase Visa Travel Money, where to get the prepaid card, or any other question related to buying foreign currency, please leave a comment below.