Student travel firm STA teams with Tuxedo to launch pre-paid MasterCard

Source: Tuxedo Money Solutions

STA Travel, the world leader in travel for students and young people, has teamed up with Tuxedo Money Solutions, the UK's leading prepaid card provider, to launch an STA Travel branded prepaid MasterCard, giving young people a safer and easier way to manage, control and spend their money abroad.

With an STA Travel Cashcard, up to £5000 can be held in a secure online "eccount" from where it can be safely moved onto the card by text, via the internet or by phone, as and when it is required.

The eccount is designed for easy and safe card management and allows you to text instructions via your mobile phone including "block" to lock your card, "unblock" to re-activate your funds and "lost" or "stolen" to stop all use. You even get free SMS alerts sent to your phone when your card balance is low and needs topping-up.

The partnership between Tuxedo and STA Travel signifies the growing interest in prepaid cards as modern consumers look to change their spending habits abroad. Prepaid cards are a safer alternative to cash and bank cards when travelling, and less hassle than using traveller's cheques.

The card features chip and pin, giving complete security for internet use, everyday banking and as a worldwide travel card with access to 1.3 million ATM's and 25 million merchants. Up to £500 can be withdrawn from ATM's daily and the card offers great value on exchange rates and foreign ATM charges.

All customers will receive a second card free (either for a second holder or in the event that one is lost) plus have access to the eccount enabling them to hold money securely 'off' the card.

Up to five cards can be placed under one eccount, meaning money can be transferred from card to card via a text, ideal for families or friends abroad. It also gives parents the ability to credit their son or daughters card over the web from home should they run out of money while they are away. This is a great benefit to young travellers, many of whom travel on a tight budget.

Customers applying for the card will receive a welcome letter, a user guide and a card personalised in their name, all priced at £9.95.

Transaction fees abroad are free, while ATM withdrawals cost £2.25. In the UK, charges per transaction are 2.95%, capped at £1.50 and ATMs withdrawals are at the reduced rate of £1.50."

"Using cards abroad can be expensive so we have worked with Tuxedo to ensure that we keep the fees as low as possible, making this not only a secure way to hold your money but also a cost effective way," said Ian Swain, Product Director at STA Travel.

Mark Simon, CEO of Tuxedo Money Solutions said: "From this week, UK students will be able to travel and spend anywhere in the world using their STA Travel Prepaid Card, confident that their funds are secure and can be topped up from home when necessary. STA Travel has built the world's largest travel company for students and young people and we are very proud they chose Tuxedo as their partner to provide the best possible prepaid travel product on the market."

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