Tesco Prepaid Card - 0% commission hot exchnge rate (today's rate EUR1.3, $2.0 per £1) - HotUKDeals
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Tesco Prepaid Card - 0% commission hot exchnge rate (today's rate EUR1.3, $2.0 per £1)

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I am going on holiday next week and was originally searching about for a good exchange rate. Then I read about prepaid cards - was unsure first - more searching and I found one of a few comparison sit… Read More
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banned8y, 10m agoFound 8 years, 10 months ago
I am going on holiday next week and was originally searching about for a good exchange rate. Then I read about prepaid cards - was unsure first - more searching and I found one of a few comparison sites. Anyway Tesco have from what I can see just launched a new card - Tesco Travel Money Card.

For me this seems like a smart option especially as today's exchange rate (25th July) they're offering is today's rate 1.3, $2.0 per £1 - much better than highstreet.

What they say:

Why the Tesco Travel Money Card is a smarter way to take money abroad

- 0% commission and competitive exchange rates
- No card application fee (BUT you do have to load a min of £100)
- More secure than cash, your card is chip and PIN protected
- More convenient than Travellers cheques
- Added protection against ID fraud and theft
- US Dollar and Euro versions available
- Control your holiday spending!
More From Tesco:

All Comments

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#1
Can you post the link to the exchange rates bit - I can't find this.
banned#2
Click the Apply Now (new window) button and it shows today's rate
#3
I just used my CaxtonFX Card in France, very useful and excellent exchange rate. As a tip, avoid using them on pay-at-the-pump petrol pumps as they take a large-ish deposit regardless of the amount used. This can take a few days to adjust and make keeping track of the balance awkward.

The Tesco rates look good, just make sure you fully understand any fees involved.
#4
Here's a link to market rates for currency when comparing against Tesco's rates...

http://www.xe.com/
#5
Good rate :thumbsup:
#6
good rate but they charge EUR 3 / USD 4 per ATM withdrawal

also charge for cancelling and replacing cards
#7
This is probably a very silly question - but I spend spend spend on my card and get left with say $3-4 left on it - I know some stores in the states have a min spend on card eg $5 does that mean that this will then be lost? - can you cash it in etc?
#8
Where do you get the exchange rate of 1.3 from.On the website if you try to exchange money it is only 1.219. Sorry just reread the above posts please ignore.
#9
If you have a HSBC plus account then you get free withdrawls at ATM's worldwide given to you @ HSBC's best exchange rate that day.
#10
Cuddy;2602305
Here's a link to market rates for currency when comparing against Tesco's rates...

http://www.xe.com/

that's mid market spot rate mate, no one can get that rate, so if it's better than xe, you can actually make money selling the $ or Euros!
#11
newbie1001
Where do you get the exchange rate of 1.3 from.On the website if you try to exchange money it is only 1.219


Here: https://travelcard.tescofinance.com/apply.aspx :thumbsup:

Those who frequently travel abroad should absolutely open a Nationwide Flex account.

NO withdrawal charges, NO percentage of cash spent, interest paid on current acc. Commercial exchange rate...FAR FAR better than any / most travel agencies

Lloydstsb used to cane me in charges for daring to spend my own money where I wanted to !!!!!!, check & compare:
http://nationwide.co.uk/current_account/default.htm :thumbsup:
#12
They are charging for withdrawal while abroad though. The cheapest option i found was opening a Nationwide Flex Account. You get no charges whatsoever while abroad and there is no limits to on how much you put on it.

Might take a little longer but when you travel as much as me it saves an awful lot of money.
#13
Wonder what Martin would make of this - he's just done a review of the best way to spend abroad
#14
Another vote for Nationwide - never leave the UK without it...

Gopes
#15
Does anyone know what the limits of withdrawing from a foreign ATM are cash wise. Is there anything to stop you loding £1000 and getting 1300 compared to about 1200 and then withdrawing it all on arrival and only paying 3 for the privalige making 75 euros plus inststant profit. Could this be done. This seems open for abuse and i can't see the banks allowing that.
#16
i use nationwide card you get the current exchange rate ie not the travel agents or post office no commision rates ? and no charges for ATM,s.Used mine in other countrys other than US dollor and euro tesco one only saysUS dollor and euro
#17
Will crediting this using a credit card be treated as a cash withdrawal on your credit card?

I'd rather use my Smile Visa debit card but which card type is that, anyone know - Visa Electron or Visa Delta? Doesn't say on the card!
#18
LaTerciaReal
Will crediting this using a credit card be treated as a cash withdrawal on your credit card?

I'd rather use my Smile Visa debit card but which card type is that, anyone know - Visa Electron or Visa Delta? Doesn't say on the card!


http://www.tescofinance.com/personal/finance/travel/travel-card/cost.jsp
If you use a Tesco Credit Card to top up your travel card the transaction will be treated as a sale so no cash advance fees, other issuers may treat the top up as a cash advance and therefore charge additional fees. Please refer to your Debit or Credit card issuers for details of any fees they may charge for the top-ups to your Tesco Travel Money Card
#19
I can't recommend Nationwide enough. I was away for 8 months in US, OZ, NZ and Asia and never had a single problem with either atm card or credit card.

Excellent exchange rates and no charges at all.
#20
Banterlicious
I can't recommend Nationwide enough. I was away for 8 months in US, OZ, NZ and Asia and never had a single problem with either atm card or credit card.

Excellent exchange rates and no charges at all.


Been using it in Spain for 3 years now, great. Mind you I also use the Tesco Credit Card which gives very similar rates to NW
#21
Is there a minimum service charge if you don't use the card for x amount of months? Or is there sortof an expiry date or a clause that you have to use it at least once every x months?
Thinking of getting it and saving it for a future holiday in the EU or US, but not sure when my next holiday is going to be...
#22
boonkoh
Is there a minimum service charge if you don't use the card for x amount of months? Or is there sortof an expiry date or a clause that you have to use it at least once every x months?
Thinking of getting it and saving it for a future holiday in the EU or US, but not sure when my next holiday is going to be...


Might not be a good idea as you would be then dealing in currency flutuations. it could work out to your advantage but also to your disadvantage. it says the card is valid for 3 years. Another thing is the rate is not guarenteed and could change after your initial deposit and could be worse. The 1.3 is only todays rate.
#23
Do you not get a service charge applied if using tesco credit card?
I also have nationwide and I don't think you can beat this with getting the bank rate rather than the tourist rate and with no fees or surcharges:thumbsup:
#24
another vote for nationwide. never had a problem with them and brilliant abroad.
#25
wordsworth
another vote for nationwide. never had a problem with them and brilliant abroad.



There's a recurring theme here.......................Nationwide....................

Put money in your account in the UK. You can use the internet for this too.
Use the card abroad as you would at home...work for me in NZ/Oz/Singapore
No additional charges

Better than anything else out there.......for me!

CS
#26
They say you will receive your card in 7 days. Is it 7 working days or just 7 days ?
#27
Does Anyone Know How Rate For Tesco Prepaid Card Compares To Current Nationwide Rate For Euro + Usd ?
+ How Do You Use Tesco's Credit Card To Top It Up Without Charges ?
#28
ANDYF
Does Anyone Know How Rate For Tesco Prepaid Card Compares To Current Nationwide Rate For Euro + Usd ?
+ How Do You Use Tesco's Credit Card To Top It Up Without Charges ?


It says that if you use a Tesco's Credit Card to top up, it gets treated as a sale so no cash advances.

I ordered one anyway as hols in Europe in August.
Heat added - :thumbsup:
#29
ANDYF
Does Anyone Know How Rate For Tesco Prepaid Card Compares To Current Nationwide Rate For Euro + Usd ?
+ How Do You Use Tesco's Credit Card To Top It Up Without Charges ?


I don't know the exact figures but the rate we got from Nationwide was always slightly better than the general exchange rate (on sites such as xe.com and in the press)

This was the same whether we were in Europe, North America Asia or Australasia.

Don't know about the Tesco rates but I doubt they could afford to improve on the Nationwide rate.
#30
Thanks 4 Reply, Where Does It State That ?
#31
ANDYF;2603684
Does Anyone Know How Rate For Tesco Prepaid Card Compares To Current Nationwide Rate For Euro + Usd ?
+ How Do You Use Tesco's Credit Card To Top It Up Without Charges ?

Please don't capitalise the first letter of each word....
#32
ANDYF
Thanks 4 Reply, Where Does It State That ?


Come again?
#33
ljmander
good rate but they charge EUR 3 / USD 4 per ATM withdrawal

also charge for cancelling and replacing cards


Yeah think i will stick with good old fashioned cash, hasnt let me down yet :thumbsup:
#34
Those rates are much better than Nationwide's at present, they are 5% over visa/mastercard rates.

If you want CASH thought, nationwide flexaccount is the way to go.
#35
KISS - get a Nationwide Flex Account as stated here many times

EliTom
#36
Banterlicious
Come again?


Sorry, referring to previous reply
#37
Bully;2604149
Yeah think i will stick with good old fashioned cash, hasnt let me down yet :thumbsup:

How will you get your cash out of an ATM though? Or will you walk around with lots of money on you all the time?
#38
306maxi
snip Or will you walk around with lots of money on you all the time?

You would be surprised how many people still do that - then complain when they get a poor exchange rate from a local change office !

EliTom
#39
freddiefreeball
They are charging for withdrawal while abroad though. The cheapest option i found was opening a Nationwide Flex Account. You get no charges whatsoever while abroad and there is no limits to on how much you put on it.

Might take a little longer but when you travel as much as me it saves an awful lot of money.


Exactly.

That's why this deal is cold.

That, plus the fact that Mastercard isn't as widely accepted as Visa.
#40
well I dont know how Tesco are doing it but they seem to be paying better odds than even the curreny market????

1 GBP = 1.99041 USD is the global rate

Tesco are saying

1 GBP = 2.0488 USD
I know they plan on world domination but there have to be hitting us with fees in another area.

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