A prepaid card with a £20 sign-up bonus
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Prepaid cards are the cheapest and most effective mechanism of securely transferring money to your family and friends instantly. Prepaid card providers prefer to use the term money share as the funds are available on the card instantly.
It is as simple as applying for an additional card on your account and then sending the card out to your family or friends. The primary cardholder can load funds in the UK and the secondary cardholder can access those funds using their card and also make withdrawals at ATMs in local currency.
The bottom line is that there is really no cheaper way to transfer and share money safely, securely and instantly.
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2.5% Transfer Fee and + £1.25 International Withdrawal fee
Figures are meant as a guide only and are provided solely for information and interest purposes only, and not to either provide advice to, or to address the particular requirements of any individual.
Important note about “money share”: Some popular multi-currency cards allow only extra cards for the same account holder. If you plan to send a card to someone else, always check that your provider supports named additional cardholders and review any age, KYC and fee rules.
Hence, it is quite noticeable that with a prepaid card, not only can you transfer and share your funds pronto (in an instant) but you could save up to £23.25 as compared to some other providers to gain the same level of reliability and trust.
What about the Exchange Rate?
Using a prepaid credit card will almost always save you even more money on international money transfer. Not only would you have benefitted from the actual transfer as shown above, but you are more likely to get a better exchange rate as compared to your traditional money transfer provider. If you regularly send money home and are looking to save money and time with a safe and secure money transfer solution, a prepaid card could be just the ticket for you!
Benefits of Prepaid Money Transfer Cards
– Instant money transfer
– One of the cheapest ways to transfer money
– Safe and secure
– Card-to-card transfers via app or SMS (where supported)
– Chip and PIN cards that can be used to shop online, in store and over the phone at millions of merchants worldwide that accept Mastercard or Visa, and at ATMs worldwide to make withdrawals
Visit our prepaid comparison section to review and compare prepaid cards for money transfer.