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Comparison of prepaid currency cards

As prepaid currency cards gain in popularity as a means to lock in the exchange rate and take money on holiday, ICE – International Currency Exchange is suggesting travellers check out the terms and conditions and fees related to prepaid currency cards before they apply. Some card charges add up to over £40 according to research conducted by ICE (refer to attached image to view pre-paid card fees). The ICE Travellers Cashcard in Euros and US Dollars is free of many of the charges levied by competitor currency cards and comes with additional benefits such as cashback and airport premium lounge access.

Koko Sarkari, COO of ICE said: “A number of prepaid currency cards apply inactivity fees that could easily catch out unwary consumers. Some also charge customers for the privilege of giving them any cash left on the card at the end of the holiday. Others apply fees for additional cards, replacement cards or for ATM withdrawals – it all adds up. While the rate of exchange offered is important and we can understand it’s tempting to make a choice selected on this alone, we do suggest travellers weigh up all the pros and cons before they make their decision on which Prepaid currency card is right for them.”

“Look for added extras, for example, The ICE Travellers Cashcard is the only prepaid currency card to offer a 1.5 % cashback on qualifying purchases. We also offer complimentary annual membership for DragonPass, the premium service global airport lounge provider, when you order or top up an ICE Travellers Cashcard with £1,000 or more* plus 1 year's Gourmet Society Membership with top ups of £550 or more or on orders £1,000 or more of Travel Money**.”

A PIN protected prepaid currency card allows cardholders to travel light along with some coins and notes for tips and small transactions. It may help protect against fraud, but also helps holidaymakers budget as you can only spend what’s on the card. An additional benefit of a prepaid currency card is that the rate of exchange will stay fixed at the time you loaded money to the card.

Key Benefits of the ICE Travellers Cashcard|

• 1.5% cashback on all purchases made of £50/$50/€50 or more on the respective cards
• No commission
• Free to obtain if the initial load is £700 or more. £4.75 if the initial load is less than £700¹
• Free cash withdrawals from ATMs ²
• Free backup card in case of loss/theft
• Free supplementary Family Cards for up to 2 family members
• Free to top-up the Euro and US Dollar cards ³
• Free balance enquiries either online or at ATMs ⁴
• Free 7 day same rate buy-back guarantee – funds can be converted back to sterling at the same exchange rate⁵
• No penalty fees, e.g. no charge if you fail to use your card for long periods of time and if you lose your card and need a replacement ICE will replace it for free
• Accepted wherever the MasterCard® Acceptance Mark is displayed ⁶
• Free Annual Membership of Dragonpass, the premium global lounge provider when you load the card with £1000 or more
• Free membership of Gourmet Society offering 50% off or 2 for 1 at over 6,500 restaurants nationwide

1 There is a Top Up fee of 2.85% for sterling card. Top ups made by credit card incur a fee 2%
2 Some ATM operators and merchants may charge a fee or set their own limits
3 A 2% fee will be levied if topping-up with a credit card
4 Some ATM operators may levy their own charge for checking account balances
5 Up to $100/€100, 7 days from the date of the last top up
6 The card cannot be used for participating in online gaming websites, at casinos or other gambling institutes, or to make regular money transfers



June 2015

For further press information please contact the ICE Press Office at HSL – Parm Heer, Laura Welsh or Alison Reeson on 020 8977 9132 or

Notes to editors

International Currency Exchange (ICE) has been providing retail foreign exchange for over 40 years and today has over 400 locations in 20 countries, on four continents, conducting one transaction every 6 seconds. Through its retail network, ICE offers a wide range of products and services to support the travelling public’s requirements, including foreign currency and phonecards. ICE’s online products include commission free secure next day home delivery currency and the ICE Travellers Cashcard, an innovative prepaid MasterCard® in £, € or US$, which can be loaded with holiday spending money before travelling, allowing levels of convenience that are similar to using a bank debit or credit card, but without the risks and charges sometimes associated. Find ICE on Facebook /iceplc and follow them on Twitter @icetravelmoney|

The ICE Travellers Cashcard has been recognised in the following awards:
PayBefore 2015 Europe: Winner Best Travel Companion
Moneyfacts 4 & 5 Star Rating in Moneyfacts Annual Credit Card & Pre Paid Card Star Ratings, as per below:
• ICE Travellers Cashcard Euro Travel Card 5
• ICE Travellers Cashcard Dollar Travel Card 5
• ICE Travellers Cashcard Sterling Travel Card 4

Prepaid365 2014:
• Best Free Prepaid Card - ICE Travellers Cashcard - Winner
• Best Incentives/Rewards Prepaid Card - ICE Travellers Cashcard - Runner Up
• Best Prepaid Card Website Design - ICE Travellers Cashcard - Runner Up

R. Raphael & Sons plc (Raphaels Bank) is the issuer of the ICE Travellers Cashcard and is a Bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, registration number 161302 and is permitted to issue e-money. Head office and registered office at 19-21 Shaftesbury Ave, London W1D 7ED, company registration number 01288938.
Raphaels Bank is a leading issuer of prepaid cards in Europe with over 5 million cards issued through 21 partners across 14 European Countries with over 180 programmes ranging from gift cards to full Chip & PIN cards to mobile technology payment solutions|

Payment Card Technologies (PCT) is the programme manager for the ICE Travellers Cashcard. A leading programme manager in Europe providing full debit and prepaid solutions from MasterCard and Visa, PCT is owned by Lenlyn Holdings plc and is a sister company to Raphaels Bank. PCT provides one of the most robust, reloadable prepaid card systems available in the market, offering customised and flexible prepaid card solutions to retailers, online merchants, large and small corporations operating in a fast moving, dynamic and global industry as well as driving emerging payment innovation with payment account platform.|

This press release was distributed by ResponseSource Press Release Wire on behalf of Harrison Sadler in the following categories: Personal Finance, Travel, for more information visit