Top-Up ATM card - safer alternative

[Tyfon]

Read today (though it must have been mooted for some time) that the UK Post Office launched yesterday a 'pre-paid' card that can be used abroad for ATM withdrawals.

Touted as a 'safer alternative to cash, it can be used to withdraw money from Visa ATMs or to pay for goods in shops. It is not linked to a bank account, so if lost there is a limit to how much can be taken.

I'm wondering if it can be topped up via the Internet, so you only need a small amount on it at any one time, thus further limiting the potential for loss. I could then leave my bank ATM card in the hotel as an emergency and carry the top-up card

Here's the official blurb from:
http://www.postoffice.co.uk/portal/p...diaId=26800661

The new Post Office Travel Money Card offers the security of travellers cheques with the convenience of plastic making it a secure, convenient way to carry foreign currency.

Purchase a euro, US Dollar or Sterling card at any participating Post Office branch. There is a one-off fee of £10 when you buy a card and you can have up to three (one in each currency).
Load your card with the amount you need
Top up your card by phone whilst you're away or visit any participating Post Office™ branch
Use any cash machine displaying the Visa sign* to withdraw up to £500 a day (or the equivalent amount in US Dollars or euros)
Pay for goods and services wherever you see the Visa Electron sign**
We'll give you a new card and a refund of any outstanding balance if your card is lost or stolen
*Transaction fees may apply, dependent on ATM owner
**Foreign exchange rates and charges will apply when using a Travel Money Card currency that differs to the currency of the country where the payment is made

Oddly there is 0% commission on Euro and Dollar withdrawals, but 1.5% on Sterling withdrawals. ATM operator charges extra, as usual.

£10 fee to buy the card. If I use it with Euros, I'm not clear on how they will make anything on this beyond the initial fee... must be a catch somewhere.

Can't see why non-UK citizens cannot use it, may be restrictions on posting them abroad..?

No mention of Internet top-up, will email and ask. Also want to know if replacement cards will be deliverable to LOS in a timely fashion. I think I can just about scrap by on £500 (32500THB) per day 8^)

Sounds useful.

[les1999]

blimey Tyfon - is the GBP500 for hotel as well....5555555

I used what is called a 'Passport' card from Australia which is similar to a Visa debit card. These cards you top up from with your own money and withdraw from the ATM's.
I have both the Passport and Visa debit and came op them up by B-pay through the internet banking - works very well and you can put in as much, or as little, as you like. Didn't seem to cost much in fees, about AU$5 per withdrawl, quite cheap really.

Definitely the way to go when overseas.

[faultytowers]

American Express brought out a similar card last year , seemed like a good idea but have never heard from anyone who has tried it.

http://www.phuket-info.com/forums/91348-post7.html

[slinggalin]

Read today (though it must have been mooted for some time) that the UK Post Office launched yesterday a 'pre-paid' card that can be used abroad for ATM withdrawals.

Touted as a 'safer alternative to cash, it can be used to withdraw money from Visa ATMs or to pay for goods in shops. It is not linked to a bank account, so if lost there is a limit to how much can be taken.

I'm wondering if it can be topped up via the Internet, so you only need a small amount on it at any one time, thus further limiting the potential for loss. I could then leave my bank ATM card in the hotel as an emergency and carry the top-up card

Here's the official blurb from:
http://www.postoffice.co.uk/portal/p...diaId=26800661


Oddly there is 0% commission on Euro and Dollar withdrawals, but 1.5% on Sterling withdrawals. ATM operator charges extra, as usual.

£10 fee to buy the card. If I use it with Euros, I'm not clear on how they will make anything on this beyond the initial fee... must be a catch somewhere.

Can't see why non-UK citizens cannot use it, may be restrictions on posting them abroad..?

No mention of Internet top-up, will email and ask. Also want to know if replacement cards will be deliverable to LOS in a timely fashion. I think I can just about scrap by on £500 (32500THB) per day 8^)

Sounds useful.

Not a bad idea, but my bank will allow me to update my ATM anywhere in the world and the cash would be instantly available. So I only keep a certain amount on me ATM everyday and go on the internet and add money for the day. Seems to be another safe method if I loose my card during the day.

Plus I don't have to bother signing up for other cards......

You may want to see if your bank will allow you to do the same....

[Tyfon]

Not a bad idea, but my bank will allow me to update my ATM anywhere in the world and the cash would be instantly available. So I only keep a certain amount on me ATM everyday and go on the internet and add money for the day. Seems to be another safe method if I loose my card during the day.

Plus I don't have to bother signing up for other cards......

You may want to see if your bank will allow you to do the same....

This is a UK provider. UK ATM cards usually mean debit cards which give direct acess to the principal bank account. Your card appears to be the same as the new UK card, but provided by your bank rather than a third party (UK Post Office)

[Tyfon]

American Express brought out a similar card last year , seemed like a good idea but have never heard from anyone who has tried it.

http://www.phuket-info.com/forums/91348-post7.html

Wouldn't touch AmEx with somebody else's barge pole...

[Rex7777]

So what's wrong with Amex, anyway? I've never had a problem.

Rex

[Tyfon]

So what's wrong with Amex, anyway? I've never had a problem.

In the UK I found their exchange service counter staff consitently rude. When I travelled with their travel service and needed assistence in New Orleans, they pretty much said **** off. Their charge card is not accepted in many places even though you get to pay to use it (unless you have a corporate, as I did once).

That was all quite a few years ago, but I pride myself on my ability to hold a grudge.

Then there's the fact they are an American company and I try to avoid, wherever practicable, patronizing US companies so long as Guantanamo and the like are open.

[slinggalin]

This is a UK provider. UK ATM cards usually mean debit cards which give direct acess to the principal bank account. Your card appears to be the same as the new UK card, but provided by your bank rather than a third party (UK Post Office)

Ay, I see.

Yes it is a debit card from my bank that gives you the flexiblity to move cash between accounts. Good if you lose it.

[slinggalin]

In the UK I found their exchange service counter staff consitently rude. When I travelled with their travel service and needed assistence in New Orleans, they pretty much said **** off. Their charge card is not accepted in many places even though you get to pay to use it (unless you have a corporate, as I did once).

That was all quite a few years ago, but I pride myself on my ability to hold a grudge.

Then there's the fact they are an American company and I try to avoid, wherever practicable, patronizing US companies so long as Guantanamo and the like are open.

Not too political myself, but ye may be waiting awhile before they close them down.

I myself just never preferred Amex, always Visa or MC. They seem to be everywhere

[mjochim]

American Express brought out a similar card last year , seemed like a good idea but have never heard from anyone who has tried it.

You missed my comments posted 11-02-2006:

On my last two major trips (the UK in early December; Canada/Japan/Thailand in mid-Decemeber through early January), I took the AmEx Travelers Cheque Card along with me. You can load any amount you want onto this card and it works like a debit card in any ATM machine and most hotels and other retailers will accept it. It's great for those worried about credit card fraud because it's not tied directly to your bank or credit accounts. If it gets lost or stolen, the "finder" can't get access to your accounts where you have most of your money. AmEx sends an additional small card with the Travelers Cheque Card with the contact number to call and report your lost or stolen card; if you report the loss within a certain amount of time (24 hours, I think), you are not liable for any charges/withdrawals made on the card.

And if you need to reload the Travelers Cheque Card while on-the-road, it's easy to do by making a phone call or logging onto the American Express website. (Reloading your card incurs a USD$5 fee each time you do it; withdrawals cost USD$2 but no extra ATM fees.) I liked using it.

Although it's safe, I much prefer using my HSBC ATM -- they don't charge ANY fees no matter where I use it. To avoid losing much money if the card is lost or stolen, I usually keep a minimal amount of money in the linked checking account and just do an online tranfer from my savings account a day or so before I need to withdraw any cash. (This is just for my own piece-of-mind because any unauthorized use of the card is protected and insured so you can recover the funds if this does occur.)

There are a few other comments about the AMEX card as well on this thread:
http://www.phuket-info.com/forums/ge...rs+Cheque+Card

[LivinLOS]

That was all quite a few years ago, but I pride myself on my ability to hold a grudge.

I am exactly the same.. I give compnaies a chance or two but once I decide enough thats it.. They are history and I take every opportunity to rubbish them.. Similarly when I get good service (above and beyond) I tend to sing thier praises to all who will listen.

KLM / BA.. Etc etc etc the shit list is long but I think customer choice is the way to deal with these things..

[JayBee]

Although it's safe, I much prefer using my HSBC ATM -- they don't charge ANY fees no matter where I use it. To avoid losing much money if the card is lost or stolen, I usually keep a minimal amount of money in the linked checking account and just do an online tranfer from my savings account a day or so before I need to withdraw any cash. (This is just for my own piece-of-mind because any unauthorized use of the card is protected and insured so you can recover the funds if this does occur.)

Same same me. ATM card linked to small balance account. Transfer funds to account when necessary. Very safe way to go!

[brit]

I've used the amex Travel Cheque Card on two trips, it's ok but not widely accepted - you generally have to go to the ATMs in malls or outside banks, those along the sois or near 7-eleven are no go. It's a bit annoying when there are machines everywhere but no, you have to go and find the "special" one. Also sometimes problematic at night when everywhere is closed and some ATMs are out of cash...

The post office card seems interesting especially as it's visa but you're stuck with their fees. They don't charge commision, just rip you off with crappy exchange rates. I'd guess you'd be paying maybe 3000 baht per £1000 for the privilege over your regular card.

I think those with regular bank cards with no overseas ATM fees have it the best.

[Einheriar]

I have both VISA/Marstercard credit cards, but have found that making a seperat travel acount at my bank, and getting a maestrocard (Issued from mastercard), as a debit ATM card, when travelling... i feel much safer.

That way i can transfer money, from my main account to my travel account for free, and the debit card, if stolen, only has the money issued to it. so no problem with duplicated or stolen credit cards.

Did that make sense ?

[georgelondon]

i like the look of this new post office card. im getting one on friday for a trip to europe. is always good to have something extra as back up if the worst happens.

[whuakito]

Poste Italiane - Carte Postepay

the pre-paid post card has been around for quite 3 years in Italy,you can recharge it on line as well and works all over the world.I don't have one though.

[brit]

I got a letter through today from Amex saying they've cancelled their travellers card so for anyone now reading this thread that option is off the table now.

I tried the out the post office card last trip - no complaints while over there but when you get back you can't get a printed list of transactions and there's no online facility whatsoever, I had to phone them up and get the guy to read out everything over the phone while I wrote it all down. That's a big neg point for me I think it's pretty ABC stuff to check your transactions when you get back from a tour.

[georgelondon]

i have a couple of prepaid mastercards i take to los as back up.
one thru a company called "unique" another called "mycashplus"
you can check the balance online whenever you feel the need.

[Crazy_Matt]

Hi BM's .. thought this thread might be ok..

I did a few searches to no avail

I'm trying to do some budgeting - whats the max we can withdraw from an Actual Teller-Machine in Baht? 20000K ? I can't remember? The old brain is going soft.

Cheers

Matt

[dizbuster]

From what I've read others post on this forum, it's 20k baht due to the restriction of giving out a maximum of 20 notes, rather than a monetary restriction, i.e. 20 x 1,000baht = 20,000 baht.

[dizbuster]

I got a letter through today from Amex saying they've cancelled their travellers card so for anyone now reading this thread that option is off the table now.

I tried the out the post office card last trip - no complaints while over there but when you get back you can't get a printed list of transactions and there's no online facility whatsoever, I had to phone them up and get the guy to read out everything over the phone while I wrote it all down. That's a big neg point for me I think it's pretty ABC stuff to check your transactions when you get back from a tour.

I usually ask for and keep all ATM withdrawal slips, then do a quick count up when I get back home. I know it doesn't show the exchange rate on the slip, but you can call up and get a balance on their local rate phone line, then do the maths.

E.g.
Before holiday : GBP1,000 added
During holiday : 65,000baht withdrawn
After holiday : balance is GBP50.00
50,000 / 950 (being 1,000 - 50) = 68.23 average rate GBP/Baht

[Plucker]

Dizbuster, you mean 65,000/ 950 = 68.42.......................

[Crazy_Matt]

Dizbuster, you mean 65,000/ 950 = 68.42.......................

he did it quickley in his head and he was rounding...

I alwsy make a common and round makes it easier for me with out having to reach for me number cruncher.

[Plucker]

Crazy Matt : Think and read before you post derogotary comments.

Dizbuster posted 50,000 / 950 which is 52.63.

It was the 50,000 not the rounding .

[dizbuster]

...
E.g.
Before holiday : GBP1,000 added
During holiday : 65,000baht withdrawn
After holiday : balance is GBP50.00
50,000 / 950 (being 1,000 - 50) = 68.23 average rate GBP/Baht

Bad hair day obviously

Should have read...
Before holiday : GBP1,000 added
During holiday : 65,000baht withdrawn
After holiday : balance is GBP50.00
65,000 / 950 (being 1,000 - 50) = 68.42 average rate GBP/Baht

...but I think you got the drift of what I was saying

[Plucker]

Dizbuster

I paid close attention as the subject of charges is something I am trying to resolve. I an hoping to live in LOS soon but at the moment when I withdraw cash from my Barclays account they charge me a %age plus 4.50 handling charge. This means every 20,000 Baht costs me about 12.50 to withdraw so in July I was only getting around 65 baht to the pound when I did the sum similar to you.

I know Nationwide have free ATM withdrawals but as I live overseas with no UK address, they will not let me open their flex account which provides the card.

If I live here and spend say 12,000 GBP per year it will cost around 500 GBP a year to access my own money!

I can transfer a lump sum which will cost 17.50 but then I lose the interest on my savings. 10,000 GBP gets me about 50 GBP per month interest.

Any ideas anyone ?

[dizbuster]

Dizbuster

I paid close attention as the subject of charges is something I am trying to resolve. I an hoping to live in LOS soon but at the moment when I withdraw cash from my Barclays account they charge me a %age plus 4.50 handling charge. This means every 20,000 Baht costs me about 12.50 to withdraw so in July I was only getting around 65 baht to the pound when I did the sum similar to you.

I know Nationwide have free ATM withdrawals but as I live overseas with no UK address, they will not let me open their flex account which provides the card.

If I live here and spend say 12,000 GBP per year it will cost around 500 GBP a year to access my own money!

I can transfer a lump sum which will cost 17.50 but then I lose the interest on my savings. 10,000 GBP gets me about 50 GBP per month interest.

Any ideas anyone ?

Sounds like one idea is that one given in the first post of this thread. I have one and have never had any problems using it in Thailand.

Leave the money in your high interest account and just transfer over what you need on a regular basis. It was remarked one time when I was "topping up", that I seemed to be using the card a lot in Thailand. I just told them I was over there working on a long term project for my company.

The exchange rates they use are good and I think it's just 2 pounds to make a withdawal, I haven't used it for almost a year so I forget. The only other charge I can recall is the small top up fee, usually 3 pounds.

[kiro]

Related to this topic, how hard is it to open a bank account in LOS? Assuming you stay there for 2 months and dont have a permanent address etc.

Is it a huge hassle or is passport and a few forms enough?

[dizbuster]

Related to this topic, how hard is it to open a bank account in LOS? Assuming you stay there for 2 months and dont have a permanent address etc.

Is it a huge hassle or is passport and a few forms enough?

Here a link to a thread from a couple of years ago http://www.phuket-info.com/forums/mo...ai-bank-c.html things may still be the same. Other that that, it might be worth checking some of the older threads as this questions does come up from time to time.