Currency conversion and cashing out are a hot issue for tourists when traveling, as the latter may face various transaction bottlenecks. To avoid them and make your international trips seamless and hassle-free, the International Wealth team recommends you look through the article below.
Prepaid international debit cards are an efficient way to make settlements and transactions in various currencies using one card only. Your options are numerous. Feel free to use a prepaid offshore Travel Money card, а VISA or a UnionPay card, including their co-badged versions.
Holders thereof enjoy easy access to several currencies. To get it they need to obtain a prepaid or debit card, regardless of whether it is a multi-currency or s single-currency payment instrument.
In the article below, we will clear all issues pertaining to prepaid international cards and the benefits thereof for foreign travelers. You will learn which cards non-resident should use for their trips abroad and for everyday transactions.
Feel free to contact the International Wealth industry experts to get your prepaid (anonymous, debit, co-badged, or credit) card within the shortest time possible. If bank account access is what you are looking for, the International Wealth team will assist you with opening either a personal or a corporate foreign bank account.
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with seasoned professionals on international banking and where it is best to open non-resident corporate accounts.
International bank cards out there
Virtual and plastic cards make popular products, with almost every bank, financial institution, or payment system issuing and offering them to their customers. Yet it is not everywhere that you can get prepaid let alone anonymous cards. It is even more challenging considering the present-day realities, with tough financial transaction control imposed by international regulatory authorities.
Below, you will find the most popular prepaid debit, credit, and anonymous cards to obtain:
- Forex cards hold up to 14 different currencies per card account and come with low fees and commissions. The cards are good for making settlements and withdrawing money to pay your shopping expenses or finance your online transactions, including, inter alia, international money transfers.
- Anonymous offshore cards make a unique payment instrument for both businessmen and travelers who often pay for the goods and services they purchase or receive abroad or make forex money transfers. What is so peculiar about offshore cards is that they secure high confidentiality for the holders thereof whose personal data are only stored by the issuing bank and are not shown in any transaction documents or reports.
- Prepaid UnionPay cards issued by the same-name Chinese payment system are a good option to get access to your funds when abroad. Anonymous debit China UnionPay cards are a perfect choice for both entrepreneurs and tourists to make payments while overseas.
Supported by industry pros, you will anytime locate a bank offering favorable tariffs, with an opportunity to open multi-currency card accounts, if you need any.
Prepaid international cards
Depending on the card type, strengths and limitations thereof differ for prepaid Forex, UnionPay, and Visa cards or instruments issued by other financial service providers.
Forex cards are otherwise known as Travel Money cards. The option works best for frequent travelers who aren’t eager to open accounts in each state they visit. It is highly efficient, namely due to the access to either one or several currencies and a wide territorial coverage for Forex cards.
Forex cards (a.k.a. offshore Travel Money cards) are an international transaction instrument securing simple and efficient settlement procedure. They are valid all around the world. Forex card holders enjoy an opportunity to both withdraw funds and settle accounts in either one or several currencies.
Serviced in over 100 countries worldwide, UnionPay cards are an effective and convenient instrument to make financial transactions in desired currencies. Co-badged UnionPay cards are popular in China and other countries owning integrated payment brands.
Types of prepaid international cards
All in all, 3 prepaid international card types are used:
- With single-currency cards, you will be able to reload the card in one currency only. The option is suitable for users who know for sure where exactly they are about to use the card and what currency they will work with.
- Multi-currency cards allow transacting in up to 14 different currencies. Where necessary, the latter may be converted straight within the system, without withdrawing money and then reloading the card. Multi-currency cards of the above type are good for digital nomads, avid global travelers, and world-class entrepreneurs.
- Anonymous offshore travel cards have both single- and multi-currency versions. They secure high confidentiality, where the holder’s personal data are concerned, since no intelligence agencies or tax authorities have access to them.
FYI: one card will not suffice for owners of global multinational companies. If you happen to be one of them, the International Wealth accomplished pros suggest you open a multi-currency corporate bank account. Go ahead and simply contact us, and we will handle it all for you in the best and most efficient way possible.
Benefits of using prepaid international cards
Every prepaid card comes with its own benefits:
- Forex cards boast low commissions and the best exchange rates
- anonymous offshore travel cards provide for an opportunity to remain invisible to tax authorities (unless the countries concerned have made a tax information exchange agreement or any other analogous information exchange agreement)
- all prepaid international cards are a great instrument to keep and use foreign currencies when traveling and make the necessary Internet transactions when paying for anything in foreign retail outlets or points-of-sale.
Be advised that certain prepaid cards come with an insurance coverage. You should find out whether it is true for your particular card in advance when studying the available tariffs and services offered by your designated servicing bank.
Ways to obtain prepaid multi-currency international cards
Expert professional services offered by the International Wealth industry pros are among the best ways to access various currencies while traveling. Without a doubt, obtaining a prepaid debit, credit, or Forex (Travel Money) card (or any other card for that matter) on your own is worth trying. Nevertheless, indications are that in most cases your application will be rejected.
This is explained by neither the service terms set by the corresponding financial institutions nor anybody’s wishes. The thing is, many customers make mistakes when completing questionnaires and submitting documents or choosing the servicing bank.
The International Wealth agency stays in close contact with multiple financial institutions worldwide, including offshore ones. We offer comprehensive services as to account opening and card issuance. Both residents and non-residents are welcome to contact us for any remote services they may need.
Here’s what you should do to get a prepaid international single- or multi-currency bank card:
- contact the International Wealth team using our corporate email or online chat
- pay for the services you require using any payment methods, including, inter alia, popular crypto currencies
- submit the documents from the list prepared by the International Wealth consultant or other expert
- get your prepaid card and use it in the jurisdictions serviced by a certain banking system.
You are welcome to contact International Wealth for any comments or questions you have left and we’ll be happy to discuss them at a face-to-face consultation.