Travelex Money Card

Help & FAQs

Terms and conditions for the Travelex Money Card can be found here.

To contact us about Travelex Money Card, click here for details.

Common questions:

• What are the fees and limits?

  Fees

  Fee Type	Fee	The explanation
  Load/Top-up fee - foreign currency wallets	Free	No fee charged when you top up regardless of payment method. Like a commission fee.
  Load/Top-up fee – Pound Sterling wallet	2%	Fee charged when you top up regardless of payment method. Like a commission fee.
  Additional card fee	£5.00 GBP	Fee charged for getting a backup card, where available.
  Currency transfer fee	Free	No fee for moving money between wallets. Foreign exchange rate applies, varies each day.
  Fee for paying with the card (international)	Free	No fee for paying with your card outside the UK, whether at retailers or online. Some retailers may charge their own fee.
  Fee for paying with the card (UK)	Free	No fee for paying with your card in the UK, whether at retailers or online. Some retailers may charge their own fee.
  Fee for cash machine withdrawals (international)	Free	No fee for withdrawing cash at a cash machine outside the UK. Some operators may charge their own fee.
  Fee for cash machine withdrawals (UK)	Free	No fee for withdrawing cash at a cash machine in the UK. Some operators may charge their own fee.
  Cash over the counter fee	Free	Fee for withdrawing cash over the counter (for example, in a bank). They may charge their own fee.
  Cash out fee at a store	Please check in store	Fee for cashing out your card before the card expires, or after a period of 12 months after the expiry date.
  Cash out fee by calling Card Services	£6.00 GBP	No fee for cashing out your card before the card expires, or after a period of 12 months after the expiry date.
  Inactivity fee	£2.00 GBP per month	Fee charged after a 12-month period of you not using your card (either by topping up your card, paying for transactions or withdrawing money), including after your card has expired. No fee if you have a zero balance.
  Foreign exchange fee	5.75%	Fee for using your card for a transaction in a currency which is not available on your card or you don’t have enough balance in the transaction currency and the rest is taken from another currency wallet. You can check how our foreign exchange rates compare to the European Central Bank rates at www.travelprepaid.mastercard.com/rates
  Shortfall fee	£10.00 GBP	Fee charged if a payment takes your balance below zero.
  Replacement card	Free	Free service to send you a new plastic card whilst you are away if you lose your card, or it is stolen or damaged, where this service is available.

  Limits

  Limit Type	Limit
  Minimum amount you can load or top up (in store, online and on the Travelex Money app)	£50.00 GBP
  Maximum amount you can withdraw in 24 hours over the counter, i.e. at a bank	£150.00 GBP
  Maximum amount you can withdraw from an ATM in 24 hours	£500.00 GBP
  Maximum amount you can spend at retailers/merchants in 24 hours	£3,000.00 GBP
  Maximum amount you can have on your card at any one time	£5,000.00 GBP
  Maximum amount you can load in total in a 12-month period	£30,000.00 GBP
  Maximum number of active card accounts you may have at any one time	1
  Card lifespan	See card for expiry date
  Maximum number of attempts when entering your PIN	3 in each 24-hour period
  Maximum number of tries when entering your PIN	3 in each 24-hour period

• What do I do if my card is lost, stolen or damaged?

  If your card is damaged, lost, stolen or misused, please contact card services immediately - you can call 24 hours a day, 7 days a week. Contact details can be found here.

  If you requested an additional backup card, you can continue accessing and spending your funds with no delay.

  If you don't have a backup card, don't worry; a replacement card can be organised for you. Alternatively, we can arrange for emergency cash in the local currency (up to the value remaining on the card and subject to availability), anywhere in the world, normally within 20 minutes (in some remote locations this could take up to 24 hours).

• Is the card contactless?

  Travelex Money Card is Mastercard contactless enabled. Mastercard contactless is the faster way to pay for purchases of under GBP£100. No signature or PIN is required. Just tap your card against the reader and go. For more information, please click here.

  Please note, transaction limits are subject to change and different transaction limits will apply in different countries.

• What are the platinum benefits?

  To find out all about the Platinum Benefits of the Travelex Money Card, click here.

• What do I do if I am already an MCP customer?

  On 3rd April 2017, Travelex changed the prepaid card offerings made available to customers.

  Previously online we had 3 Cash Passport prepaid products you could buy, The Multi-currency Cash Passport Card, where you could load up to 10 currencies, the Globe Card in pounds and the single currency Cash Passport.

  We've simplified our prepaid card offering from the three different cards previously available, by upgrading to the Travelex Money Card: a Platinum card with added features and benefits. Now you can choose to buy and load into the 15 currencies available, including pounds.

  Your Multi-currency/Single currency/Globe card is still valid for use until the date of expiry. You can still top-up here and use it until it expires.

  If you choose to buy a Travelex Money Card and already have an existing Cash Passport card, you will need to transfer the balance on your Cash Passport card to your new Travelex Money Card within 30 days of the purchase of the Travelex Money Card.

  However, if you don't wish to purchase the Travelex Money Card, you can still use your existing Cash Passport card. Please note, we are no longer selling new Cash Passports.

• How will the change of issuer from Wirecard Card Solutions to Prepay Technologies affect me and my card?

  • Who is PPS?

    Prepay Technologies Ltd (PPS) is a Mastercard Principal Member and a UK Financial Conduct Authority (FCA) authorised and regulated Electronic Money Institution, offering a range of payment services. PPS is authorised and regulated by the FCA for the issuance of e-money with firm reference number 900010.

  • What is a card issuer?

    A card issuer is responsible for issuing a card and setting the terms and conditions associated with its usage.

  • What does it mean for me?

    You do not need to do anything, this change will happen automatically. During the switch there will be no interruptions to your service and your card will continue to work as normal.

  • Will I be sent a new card?

    No, your current card will continue to work until the expiry date on the front of your card. During the switch there will be no interruptions to your service and your card will continue to work as normal.

  • How will I know when the Issuer has changed?

    The card issuer will change to PPS from Thursday 5th November 2020

  • Will this affect the terms and conditions of my program?

    Aside from the change in contracting party, all other terms and conditions of your program continue to be honoured.

  • How do I check my balance?

    For all information about your card program, including how to check your balance, please visit the website. The web address is written on the back of your card..

  • How do I cash out?

    You can cash out via the usual channels. Please check the website for further details. Should you have any concerns with the issuer change, you can request any remaining balance(s) and close your account with no cash out fee until Thursday 31st December 2020.

• Financial Conduct Authority (FCA) – UK cardholder communication June 2021

  1. Why have I been contacted?

  We’re writing in response to a recent initiative by the UK financial services regulatory body, the Financial Conduct Authority (FCA), to ensure that you are clear in how your money is protected. As you’re probably aware, your Travelex Money Card account is an e-money account provided by Prepay Technologies Limited (trading as PPS), which also issues the e-money loaded on your account. PPS is authorised and regulated by the FCA for the issuance of e-money and provision of payment services. This means that it can offer services that allows you to make and receive payments, including using a Mastercard card that is linked to your account.

  2. What do I need to do?

  An e-money account can look and feel like a traditional bank account and some e-money account holders may assume that the protection provided for the money held in it are protected in the same way. E-money and traditional bank accounts both protect their customer money, but they do this in different ways.

  We wanted to reach out to talk to you about how PPS protects your money. Don’t worry there is nothing you need to do . We just want to make you aware of this.

  3. How is my money protected?

  As an e-money institution, PPS protects your money through a process known as safeguarding. This means that your money is kept separate from PPS’s own money or protected through an insurance policy or similar guarantee. Your safeguarded money is not available to any creditors, banks or other third parties. This means that your money will always be available should you ask us to refund your e-money. PPS is required to undergo annual independent audits of safeguarding procedures to ensure that your safeguarded money is properly protected.

  4. How does this differ from my bank account?

  Banks are required by the regulators to participate in the Financial Service Compensation Scheme (FSCS). The FSCS acts like an insurance policy for bank accounts and pays out up to a maximum of £85,000 per eligible person, per bank, building society or credit union or up to £170,000 for joint accounts in the event of the bank or building society becoming insolvent.

  E-money issuers are not able to participate in FSCS and therefore your account is not protected by FSCS. In contrast, safeguarding applies to all customers, with no defined limit per customer or account (besides our normal maximum account balance). Which means all your money within your Travelex Money Card account is protected. In the very unlikely event of PPS becoming insolvent, the return of your money might take longer than an FSCS claim because the distribution would be handled by an insolvency practitioner or administrator. It's worth noting that because the administrator can deduct their costs from this money, you might get slightly less than your full account balance back.

  5. How can I find out more?

  You can head to the FCA's website to find out more about the main differences between banks and e-money firms: here https://www.fca.org.uk/consumers/using-payment-service-providers or for more information on safeguarding requirements here https://www.fca.org.uk/firms/emi-payment-institutions-safeguarding-requirements .

  If you have any further questions in relation to this letter, please email us at cardservices_prepaid@mastercard.com or you can call us on 0800 056 0572, we are available 24/7.

  The Travelex Money Card prepaid card is issued by PrePay Technologies Limited pursuant to a licence by Mastercard International. PrePay Technologies Limited is authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuance of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.