Travelex Card Review

Travelex is a currency card that can be used for debit and credit purchases as well as ATM withdrawals for up to six currencies. I’ve personally had one for two years and I’m gonna review as well as explain why I think it’s beneficial to have one.

The company was founded in 1976 and is based out of London. Their main purpose of business is international payments as well as providing travelers another way of purchasing in other countries with a credit/debit card.

When planning my first trip to Europe in July 2017, I did a search for a currency card I could use to limit using my own bank cards. Most banks charge a standard three percent international fee per transaction and my bank was no exception. That’s when I stumbled across Travelex as another way to pay.

The Good

One of the best things I like about the Travelex card is the convenience of not having your bank account info linked to your Travelex. This is important so that it protects you from card theft that is a problem just about anywhere in the world. In a worst case scenario, if your Travelex card gets hacked, they can’t get to your bank cards due to not being linked to them. That’s certainly better than having your bank cards hacked. I’d rather it be that way, personally.

Another thing about the card is having a Travelex app that allows you to switch to six different currencies: Canadian dollar, Euros, British Pounds, Mexican pesos, Australian dollars, and Japanese yen. You can also add USD to it as well. You can purchase other currency on their homepage or at airports, but you can only toggle switching between those six other currencies on the app at this time. But this has worked out well both times I’ve been to Europe where I’ve had to switch from euros to British pounds and vice versa. Then you can always go to an ATM to get more cash currency out. And if you’re in the UK, it works out even better because you’ll never struggle to find a Travelex hub inside airports since they are headquartered there.

You can also buy more currency on the app as well in the six available ones. I’ve had to do that before when in Europe and Canada, but the convenience of that is great if you run into that issue. And you don’t get charged fees for use of the card versus your local banks back home in the U.S.

If the payment machine you’re using has a Contactless payment option(that looks like a WiFi logo), your Travelex card can be used that way for faster processing.

When you order the card and the amount of currency you want, it’ll get shipped to you quickly. I recall I had mine in my hands the following week after ordering. So if you need one quickly or last minute before leaving on a trip, that won’t be an issue either.

The bad

The first thing you’ll notice on your credit/debit card when you receive it is it won’t have your name on it. Instead, it will say “currency card” on it. That could be a problem in some areas if you use it, and may lead you to be asked to verify your ID. I personally think your name should be on it, and it’s really my only complaint about the card itself. But as I said earlier, that partly explains why you get it so quickly, too.

The pin number you get if you pay using debit is provided to you. I’m not entirely sure if you can change it yourself, but do keep that 4-digit pin with you at all times in the event it is needed and you have to pay by debit purchasing.

Also, you do have to keep your account active because after 18 months of non-use, you won’t be able to use that card any longer. As long as you purchase, use as debit, or switch to different currencies, it’ll stay active.

The Verdict

I’ll make this simple and say yes to getting this card. The good more than outweighs the bad, and it can save you a potential headache if something happens to your bank cards when out of the country. I’ve gotten to the point where I pay for all my meals, souvenirs, travel passes, and such with either Travelex or PayPal while not using my bank cards since both of them don’t charge international fees on trips away from the U.S. However, I would NOT use this card for hotel costs, flights, or rental car costs since your name is NOT on the card. I’d use it for restaurants, attractions, travel passes, and other localized things you go to. But at least that way minimizes the chance of fraud.

When your trip is done, you have two options with the card. You can cash out the remaining money in any currency you have to your own country’s currency. Or if you live in a country that has a currency featured on the card, you can convert it to that and use it. I know I’ve used it before in the U.S. after converting it to dollars, so it does provide that kind of versality as a backup payment if need be. Just remember that if you do decide to get the card, keep it active because you won’t be able to use it after 18 months of inactivity.

The Travelex currency card gets my vote and recommendation for its versality, reliability, and another way to pay without the fees attached to it. Plus, the easy to use app they provide, too. With international fraud of credit/debit cards being a problem, this is a nice alternative to help prevent you from encountering that issue and a backup way to pay for things as well.