Prepaid Maestro Cards Explained
Prepaid Maestro cards are a type of prepaid card which enables customers to use their card in locations, retailers, and ATMS which accept Maestro cards.
A prepaid card firstly enables users to preload cash onto the card to use to pay for everyday items or for using abroad if loaded with a foreign currency.
If you are looking for a good way to aid budgeting your monthly income funds can either be transferred by a standing order from your bank account, or through top up pay as you go.
Once the funds are loaded the card can be used to make purchases without the need to take out cash and the card is protected from fraud like any other debit or credit card.
The difference is that the card does not allow the user to use more than is already on the card so it is impossible to get unknowingly into debt, and effectively helps a customer realise how much they have spent to help prevent overspending.
A prepaid Maestro card is accepted currently in around 960,000 locations and internet sites in the UK and there are nine million locations accepting the card worldwide.
What are the benefits of using a Prepaid Maestro abroad?
While over 100 countries currently accept Maestro many do not, so it is always advised to check your holiday location prior to departure to investigate the best way to take your spending money.
Even if the country you are travelling to does accept Maestro it is recommended that you take a bit of cash for an emergency.
However, a prepaid travel card is a popular way of taking advantage of good exchange rates and ensuring your money is protected from theft and fraud which cash would not be.
It is also a more convenient way of carrying money as once the funds are loaded onto the card you can make purchases without being charged for doing so.
Many people taking a prepaid travel money card abroad also like the way they can budget their holiday spending so that they are not surprised by their credit card bill at the end of the month.