Cash Passport?

Question

I recently got a cash passport wich is ran on Visa from Travelex. It is a ATM card that is pre-paid and I can only take the money out at a ATM

Have you ever used this before. I am going to Japan and I have this Cash Passport already. Have you used it, is it good? Why? Is it crap? Why??

More info, more chance of 10 points. (Offering 10 points a way of getting more info out of people)

to JQT. Cash passport comes with 2 cards so if you loose 1 you have a 2nd. Also Cash Passport is not linked to banks, it is pre paid. Thats all I know.

Thanks anyway!

I am still asking the question. Have you used it???

Answer 1

The only advantage of using Cash Passport is the convenience, because you can get money from almost any ATMs

The disadvantages are:
1. You wouldn't get the best exchange rate from using Cash Passport or any ATM cards.
2. There is a hidden charge for currency conversion. The credit card company will hide the conversion fee as part of the exchange rate, so you wouldn't even know it.
3. If you loose the card, you are toast.

My suggestion is bring the Cash Passport with you as a backup, since you already have it. Go to AAA (American Auto Club) to get American Express or Visa Travelers Cheques. If you are a AAA member, you can get travelers cheques dollar for dollar free of service charge, otherwise there is a small fee.

Here are the advantages of using Travelers Cheques:
1. Once you are there, you can exchange for local currency at any bank. Banks usually has better rate than Cash Passport and credit card companies.
2. Merchants will also accept travelers cheques at point of sell if you don't have cash.
3. If you have left over cheques when you return, you can just deposit them into your back account.
4. If you loose them while traveling, company will replace them the next day (instruction will be included when you buy the cheques).

Safe travel.