The new card, aimed at tourists, expats and business travellers, has distinct advantages over existing cards on the market, it is:

• Free to obtain
• Free to load, with no maintenance fees
• Secured with Chip and PIN technology

And as you would expect from Currencies Direct, the card offers competitive exchange rates.

The card, developed by Currencies Direct and payment processor CorporatePay, is issued by Newcastle Building Society and accepted in millions of hotels, restaurants, ATMs, bars and shops throughout the Eurozone where the MasterCard acceptance mark is displayed.

Ignacio Hernandez, managing director of Currencies Direct, said: "With no fees and a great exchange rate, our new Currency Card is one of the most competitive in the market. It not only provides great value for money but makes an important contribution to our core customer pledge - to provide money without frontiers."

Alex Tejada, head of business solutions, who recently joined Currencies Direct to drive the company's product and e-commerce development, added: "Prepaid cards offer obvious advantages above carrying and using your travel money.

"Besides improved exchange rates, customers will have full control over their travel money, being able to use the cards wherever MasterCard cards are accepted, without the hassle and risk of carrying cash when they travel."

Myles Stephenson, CEO of CorporatePay added: "We are delighted to help Currencies Direct launch its new Currency Card in partnership with the leading prepaid issuer in Europe, Newcastle Building Society. It will provide a valuable new level of convenience for Currencies Direct customers travelling abroad."

Once customers are back in the UK they can watch the euro exchange rate and top their card up for their next trip away when they can best maximise their money.

The Currencies Direct MasterCard will be available to any Currencies Direct customer over the age of 18.

SMS and phone loading features will be available later this year.