Traveling internationally has become much more convenient with the growing array of financial tools available to manage foreign currencies. One such tool that stands out is the FNB Multi-currency Cash Passport Prepaid Card, a solution that simplifies the handling of multiple currencies while providing security and ease of use.

This card is designed for individuals who frequently travel to various countries and need quick, safe, and flexible access to funds. Let’s explore how this prepaid card works and why it may be the right option for global travelers.

Key information about the card

How does the annual fee work?

One of the most attractive aspects of the FNB Multi-currency Cash Passport Prepaid Card is that it comes without an annual fee. For many frequent travelers, this is a significant advantage, as it means you can keep the card active without worrying about recurring costs. While credit cards often impose fees based on usage or time, prepaid travel cards like this one are an excellent alternative.

How is the credit limit determined?

Unlike traditional credit cards, where the institution determines a credit limit based on your credit score, income, and other financial indicators, the FNB Multi-currency Cash Passport Prepaid Card operates differently. Since it’s a prepaid card, the limit is determined solely by the amount you choose to load onto it. In essence, you are in complete control of the card’s balance.

Advantages of the card

• Multiple currencies: One of the most notable benefits is the ability to carry up to seven major currencies on a single card. This eliminates the need to carry cash in multiple denominations or exchange currency frequently while traveling.
• No exchange rate surprises: You can lock in exchange rates when loading your card, which means you don’t have to worry about fluctuations in currency values while you travel.
• Safety and security: Since the card is not linked to your bank account, there’s a reduced risk of your primary financial details being compromised if your card is lost or stolen.
• Mobile app: The card is managed easily through a mobile app, where you can check your balance, view transactions, and even move money between currencies in real-time.

Standout advantage

One of the standout advantages of the FNB Multi-currency Cash Passport Prepaid Card is its ability to lock in exchange rates when loading currencies. This feature is crucial for travelers looking to avoid the uncertainty of fluctuating exchange rates.

Once you load the currency, the rate is set, so no matter how the market shifts during your trip, your funds remain stable. This makes it easier to budget for international trips, as you know exactly how much each transaction will cost.

Disadvantages

• Limited currency options: Though the card supports seven currencies, travelers visiting countries with less common currencies might still need to exchange cash.
• No interest earned: Since it’s a prepaid card, the balance on the card doesn’t accrue interest, unlike a savings account or investment.

A standout disadvantage

The primary disadvantage of the FNB Multi-currency Cash Passport Prepaid Card is that it doesn’t earn interest on the loaded funds. For those who plan to hold large balances on the card over extended periods, this can be seen as a missed opportunity for potential earnings.

Unlike traditional savings accounts, where your money grows over time, the funds on this card remain static, which might not be ideal for users who prefer to keep their money actively generating returns.

Who can apply for this card?

To apply for the FNB Multi-currency Cash Passport Prepaid Card, there are a few essential requirements. First, applicants must hold an active qualifying account with FNB, as this account will be linked to the services that facilitate the card’s loading and reloading process.

You will also need access to FNB Online Banking, as this platform enables you to manage your card and load currencies seamlessly. In terms of documentation, a valid passport is required, along with proof of travel—such as an airline ticket—when loading foreign currency onto the card.

This ensures that the card is used appropriately for international travel purposes, complying with South African exchange control regulations. The card is available for individuals over the age of 18, and it is essential to note that the card cannot be used within the Common Monetary Area (South Africa, Lesotho, Swaziland, and Namibia).

How to apply for the FNB Multi-currency Cash Passport Prepaid Card

For the website

One of the most convenient ways to apply for the FNB Multi-currency Cash Passport Prepaid Card is through the FNB website. To begin the process, log in to your FNB Online Banking account. From there, navigate to the ‘Forex’ section, where you can select the Multi-currency Cash Passport Prepaid Card option.

The website will guide you through the necessary steps, including uploading any required documents, such as your passport and proof of travel. The platform also allows you to choose which currencies to load onto the card during the application process.

You can select from the available currencies and decide how much of each you’d like to allocate to the card. After completing the necessary forms and submitting your documents, the card will be processed, and you’ll receive notifications on its status.

Through the app

Alternatively, you can apply for the card using the FNB app. The application process is very similar to the one on the website but is optimized for mobile devices, making it a handy option for those on the go. Simply log into your account, and access the Forex section within the app. Here, you can apply for the card, select the currencies you wish to load, and manage the entire application process digitally.

The FNB app is user-friendly, allowing you to track the status of your application and receive real-time updates. Once your card is ready, you can arrange to pick it up at your nearest branch or have it delivered to your address.

At the branch

If you prefer handling things in person, you can visit your nearest FNB branch to apply for the card. At the branch, an FNB representative will guide you through the application process, ensuring that all necessary documents are in place and assisting you with any questions you might have.

Once your application is submitted, the processing time is generally quick, and you’ll be notified when your card is ready. From there, you can load currencies either at the branch or via online banking, making it easy to prepare for your travels.