Are you frustrated with the hefty fees incurred during currency exchanges and ATM withdrawals while travelling abroad? If this sounds like you, rest assured you’re not alone in this struggle. Fortunately, there’s a way to avoid these unnecessary expenses: we are talking about a prepaid travel card such as revolut prepaid travel card. Revolut, a digital banking platform, offers a prepaid travel card usable for transactions and cash withdrawals across 150+ nations. Powered by the interbank exchange rate, renowned for its cost-effectiveness, this card ensures you enjoy maximum savings. In this blog, we will share everything you need to know about revolut prepaid travel card. So, let’s dive in!.
What is the Revolut Prepaid Travel Card?
The revolut prepaid travel card, a Visa prepaid card, empowers you to seamlessly spend money overseas without the burdensome weight of exorbitant exchange fees. Beyond this main perk, the card includes a range of additional features designed to enhance the convenience and affordability of your journeys, including:
- Fee-Free ATM Withdrawals
- Complimentary Currency Exchange
- Travel Insurance
- Real-Time Spending Insights via a Mobile App
How does the Revolut prepaid Travel Card work?
The Revolut prepaid travel card operates on the bedrock of a prepaid account structure. Upon setting up an account, you’re required to deposit funds into it, which can be in your local currency or any other currency endorsed by Revolut.
Whenever you use your Revolut prepaid travel card for purchases or ATM withdrawals, the card seamlessly converts currency using the interbank exchange rate. This rate mirrors the rate banks use to trade currencies amongst themselves, consistently offering a more budget-friendly alternative compared to current rates from financial institutions.
It’s important to note that Revolut refrains from imposing charges for currency conversion or ATM withdrawals. However, potential fees might arise from the ATM operator or the merchant.
A closer look at the Revolut Prepaid Travel Card’s advantages
No-Fee ATM Withdrawals
Revolut offers fee-free ATM withdrawals capped at £200 monthly for the Standard plan, £400 for the Premium plan, and £800 for the Metal plan. This feature frees you from the withdrawal fees, potentially amounting to substantial savings.
Gratis Currency Exchange
Revolut extends complimentary currency exchange services for most currencies, ensuring access to the most favourable exchange rates. By using the interbank exchange rate, typically more competitive than those proposed by conventional banks, the card maximises your financial benefit.
Inclusive Travel Insurance
Revolut’s travel insurance offers comprehensive coverage, spanning lost luggage, medical expenditures, and trip cancellations. The extent of coverage varies across plans: the Standard plan provides foundational coverage, while the Premium and Metal plans furnish more exhaustive protection.
Empowering Mobile App
Revolut’s mobile app provides an intuitive platform for account management and real-time spending tracking. Particularly advantageous during travel, the app enables you to top up your card, execute payments, inspect your balance, and even freeze the card if lost or stolen.
Freedom from Minimum Balance Mandate
Revolut eliminates the obligation to uphold a minimum balance in your account, liberating card usage even if your account balance is modest.
Widespread Acceptance
Accepted across more than 150 countries, the Revolut prepaidtravel card broadens your financial horizon by enabling seamless purchases and cash withdrawals wherever Visa is acknowledged.
Is the Revolut prepaid Travel Card worth the money?
Here are some factors to consider when determining if the Revolut prepaid travel card is worth it for you:
- Frequency of Travel: Frequent travellers stand to benefit immensely from the card’s currency exchange and ATM fee savings. Occasional travellers, however, might not fully use the card’s value if weighed against its annual fee.
- Travel Expenditure: High spenders during travel can enjoy significant financial advantages from the Revolut prepaid travel card. On the other hand, budget-conscious travellers might not experience all the benefits.
- Priority Features: Your preferences play a pivotal role. If you prioritise features such as travel insurance and airport lounge access, the Revolut prepaid travel card is a great option for you. But, if your focus revolves around fee-free ATM withdrawals and currency exchange, alternative card options could prove more fitting.
How to get the Revolut prepaid Travel Card?
Getting the Revolut prepaid travel card is quite easy:
- Get the Revolut app from either the App Store or Google Play.
- Install the app and create an account using your name, email, and phone number. Identity verification entails a selfie and a photo of your ID document.
- Opt for a plan: Revolut presents three plans – Standard, Premium, and Metal. While the Standard plan is fee-free but imposes certain limitations, the Premium plan (monthly cost of £7.99) and Metal plan (monthly cost of £13.99) offer enhanced benefits.
- Request your card: Once you’ve selected a plan, place an order for your card – either physical or virtual. Physical cards are dispatched to your address within days, while virtual cards are instantly usable.
Conclusion
The Revolut prepaid Travel Card or Revolut bank card is your passport to saving on foreign exchange and ATM fees during your travels. It’s not just about the financial benefits; the card’s array of features also enhances your journey’s convenience. If you’re planning to explore new horizons soon, consider giving the Revolut prepaid Travel Card a closer look. Check out more about the Revolut prepaid card on its main website and enjoy smarter and more cost-effective adventures. Get more such updates and insightful content on Feedhour.
FAQs