Currency specialist Moneycorp, in partnership with Visa, has launched the world's first ever multi-currency prepaid card - Explorer - that can be used to spend up to 14 different currencies on one reloadable card.
The Explorer card simplifies the process of buying and spending travel money, especially for holidaymakers visiting multiple countries. Fourteen 'currency wallets' - which can be reloaded and managed online - are available on the PIN-protected card. Explorer can be used anywhere you see the Visa logo, including ATMs, with no additional fees.
The Explorer card also offers customers a safer alternative to carrying cash. The card has no links to any bank accounts, and funds are protected if the card gets lost or stolen.
Rupert Bedell, travel money expert at Moneycorp, comments:
"At Moneycorp, we're pleased to introduce a world first in foreign exchange. It's ideal for anyone going overseas - from business travellers who require different currencies, to regular holidaymakers who don't want the risk of carrying cash overseas.
"Coupled with great exchange rates, we're confident that the Explorer card is the future for British people spending currency abroad."
Fiona Duncan, Senior Vice President of Prepaid at Visa Europe, comments
"Prepaid currency cards are a better alternative to traveller's cheques. They provide a safe, easy to way to buy currency and spend overseas.
"Multi-currency prepaid cards are an exciting innovation for prepaid payment and we are confident that the market will see explosive growth as they become more widely available."
When loading currency on to the card, the exchange rate is fixed; protecting the customer against negative currency movements. This means they will not be out of pocket should a currency weaken while they have money loaded on the card.
Other benefits include:
• The card can be used wherever Visa is accepted, which is over 31 million merchant outlets worldwide, as well as over 1.4 million ATMs
• No fees on ATM withdrawals or store purchases outside of the UK
• Free online access to balance and transaction history• SMS text services, including PIN reminders
• Customers can activate extra card features and load more currencies online by applying for a Multi-currency Explorer card at www.moneycorpcard.com
• Total list of currencies: US dollar, Euro, British sterling, Australian dollar, Canadian dollar, Danish krone, Hong Kong dollar, Japanese yen, New Zealand dollar, Norwegian krone, South African rand, Swiss franc, Swedish krona, Singapore dollar