Prepaid travel card fees for unavailable currencies | finder.com
Prepaid card doesn’t support the local currency

What happens when your prepaid card doesn’t support the local currency

We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.

Know your options when you need to spend in an unavailable currency.

When looking at prepaid travel money cards, you’ll notice that the currencies that can be loaded on to the card may be limited. If you want to use a prepaid travel money card and the currency of your destination isn’t supported, no worries, here are some ways you can get around that.

What if my prepaid card doesn’t support the local currency?

Most prepaid travel cards, like the Travelex Money Card, support about six currencies that have their own currency wallet. When you load funds onto your card, you’ll have to choose which currency you’d like to top up and then you can use those funds in that country without having to pay a currency conversion fee.

If you don’t have the funds loaded in that particular currency wallet, or if your card doesn’t support that local currency, you will be charged a currency conversion fee whenever you use your travel card in that country.

Your card provider will draws funds from your account according to the default currency order at their existing exchange rate and charges you a fee on top of that for converting currencies.

What are currency conversion fees?

One of the perks of using a prepaid travel card is the ability to avoid high currency conversion fees that credit and debit cards often charge. But, when you make purchases in a currency that isn’t loaded or supported by your travel card, you may be charged a currency conversion fee of about 3%.

Do you know about dynamic currency conversion?

Dynamic currency conversion is a service provided by international retailers that allows you to make purchases using your home currency. The dynamic currency conversion rate consists of the foreign exchange rate charged by the credit card company, as well as a fee to the merchant. You may also get charged a foreign transaction fee for the purchase. It’s typically best to decline this service.

What is the default currency order?

Currency order matters when you withdraw or spend money in a currency that isn’t preloaded or supported by your card. When this happens, your purchase amount is taken from the available currency highest on the default currency order list. The default order is usually determined by your card provider.

For instance, a typical currency could be:

  1. United States dollars (USD)
  2. Great British pounds (GBP)
  3. Euros (EUR)
  4. Canadian dollars (CAD)
  5. Australian dollars (AUD)
  6. Japanese yen (JPY)
  7. Mexican pesos (MXY)

If you have preloaded USD, EUR and AUD on your card, and you are spending Thai baht in Bangkok, the card will convert whatever USD you have into baht for your purchase.

If you have insufficient USD preloaded on your card, it will convert the remaining USD you have into baht, and then withdraw the difference from your EUR wallet. A currency conversion fee will generally apply in these instances.

What are your other options?

It is important to know and understand the fees of your card. Develop a strategy using some of these tips:

  • Do your research beforehand.
    Know your options and choose the prepaid travel money card that best suits your needs. If you have no luck with that, look at travel friendly credit cards.
  • No currency conversion debit card.
    You may find that it makes more sense to take your debit card to a country where local currency isn’t supported by your card. Some debit cards are designed for overseas use and don’t charge currency conversion and international ATM fees.
  • Don’t let your currency wallet run out of funds.
    To avoid unnecessary fees and unfavorable exchange rates, make sure your specific currency wallet doesn’t run out of local currency. Keep in mind that some reload options can take up to three business days to appear in your account, so you give yourself time when loading the card.

Finally, finding your best travel money option is a process of thorough research that will match your personal needs and preferences. Start comparing today and spend with peace of mind tomorrow.

Rates last updated June 18th, 2018
Name Product Foreign Currency Conversion Fee Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Luxury Card Mastercard® Titanium Card™
0% of transaction value
$195
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
Luxury Card Mastercard® Black Card™
0% of transaction value
$495
Mastercard Black Card members receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.
Luxury Card Mastercard® Gold Card™
0% of transaction value
$995
Earn points every time you spend. Luxury Card enhances your purchasing power by providing you with one (1) point for every one dollar ($1) you spend. Every purchase gets you closer to the rewards you want.
Bank of America® Travel Rewards Credit Card
0% of transaction value
$0
20,000 online bonus points offer. Ditch the restrictions of typical airline rewards cards. Any airline, any hotel, anytime. No blackout dates.
Chase Sapphire Preferred® credit card
0% of transaction value
$0 annual fee for the first year ($95 thereafter)
Earn 50000 points when you spend $4,000 on purchases within the first 3 months of your account opening, and an additional 30,000 points when you spend a total of $30,000 on purchases within the first year of your account opening.
Venture® from Capital One®
0% of transaction value
$$0 intro for the first year, $95 after
Earn 50000 bonus miles once after spending $3,000 on purchases within the first 3 months from account opening.
HSBC Cash Rewards Mastercard® credit card
$0 per transaction
$0
Earn unlimited 1.5% cash rewards on purchases.
Bank of America® Premium Rewards® Credit Card
$0 per transaction
$95
Earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases.
Uber Visa Card
0% of transaction value
$0
Get 4% points back on dining, 3% on travel, 2% on Uber rides and online shopping and 1% on other purchases, and redeem points for Uber credits, gift cards or cash back.
Chase Sapphire Reserve®
0% of transaction value
$450
Earn 50000 BONUS POINTS after spending $4,000 on purchases in the first 3 months from account opening* — that's $750 toward travel when you redeem through Chase Ultimate Rewards®.
The Platinum Card® from American Express
0% of transaction value
$550
Get 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5X points on eligible hotels booked on amextravel.com.
United℠ Explorer Card
0% of transaction value
$$0 intro annual fee for the first year, then $95
40,000 bonus miles after you spend $2,000 on purchases in the first 3 months from account opening.* Plus a $100 statement credit after your first purchase.

Compare up to 4 providers

Promoted
Travelex Money Card

Why we like: Travelex Money Card

Load GBP, EUR, CAD, AUD, JPY or MXN onto this prepaid travel money card and use it at millions of locations worldwide.

  • Not linked to your bank account for safety.
  • Convert currency with a 5.50% Foreign Exchange Fee
  • Contactless payments
  • Reload, withdraw, or replace your card for free.
    Back to top

    Kyle Morgan

    Kyle Morgan is a writer and editor for finder.com who has worked for the USA Today network and Relix magazine, among other publications. He can be found writing about everything from the latest car loan stats to tips on saving money when traveling overseas. He lives in Asbury Park, where he loves exploring new places and sipping on hoppy beer. Oh, and he doesn't discriminate against buffalo wings — grilled or fried are just fine.

    Was this content helpful to you? No  Yes

    Ask an Expert

    You are about to post a question on finder.com:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
    Go to site