The Multi-currency Cash Passport Mastercard offers travelers a convenient and secure way to manage their travel money across multiple currencies. With the ability to lock in exchange rates for up to 10 different currencies, this prepaid travel card is designed to simplify spending while abroad, providing flexibility and control.

Accepted worldwide, the Cash Passport can be used like a debit or credit card at millions of locations for purchases and ATM withdrawals. It comes with robust security features, including Chip and PIN technology, and access to 24/7 global assistance for emergencies. This makes it an ideal choice for those who want peace of mind and easy access to funds during their travels.

Key information about the Multi-currency Cash Passport

How does the annual fee work?

The Multi-currency Cash Passport Mastercard is free from annual fees, making it a cost-effective solution for travelers. Since it’s a prepaid card, there are no additional costs for ownership, other than possible fees associated with reloading and ATM withdrawals. This absence of an annual fee allows users to enjoy its benefits without the worry of ongoing expenses, which is an essential feature for budget-conscious travelers.

How is the credit limit determined?

As a prepaid card, the Multi-currency Cash Passport does not involve a credit limit in the traditional sense. Instead, users decide the amount they want to load onto the card, which serves as their spending limit. This feature provides users with full control over their travel funds, allowing them to allocate only what they plan to spend and avoid debt, making it an ideal choice for individuals who want to set their own limits without credit checks or restrictions.

Advantages of the card

• Multi-currency options: The card supports up to 10 currencies, including Pound Sterling, Euros, US Dollars, and Australian Dollars, among others, allowing users to avoid currency conversion fees.
• Locked-in exchange rates: Users can lock in exchange rates at the time of loading, which protects them from fluctuations in currency rates.
• Global acceptance: The card is accepted worldwide, both in-store and online, as well as at ATMs, making it a versatile tool for travelers.
• 24/7 global assistance: Cardholders have access to round-the-clock support, which includes emergency cash access if the card is lost or stolen.
• Easy reload options: The card can be reloaded conveniently through online transfers, bank transfers, mobile apps, phone, and in-person at participating branches.

Standout advantage

One of the standout advantages of the Multi-currency Cash Passport is its ability to lock in exchange rates across multiple currencies, providing travelers with a fixed rate for each currency they load onto the card. This feature is particularly beneficial in times of volatile exchange rates, as users can secure favorable rates in advance, ensuring they stay within their budget without worrying about potential fluctuations. This unique functionality gives the Cash Passport a competitive edge over other prepaid travel cards.

Disadvantages

• Limited currency options: Although it covers 10 major currencies, it may not suit travelers going to countries with less common currencies.
• ATM withdrawal fees: Certain ATMs may charge fees for withdrawals, and users may incur additional costs for ATM transactions outside the available currencies.
• Inactivity fees: If the card is left unused for an extended period, inactivity fees may apply, which can reduce the remaining balance.
• Limited deposit methods: Some users may find the reload methods limited, particularly those who prefer cash-based top-ups.

A standout disadvantage

The primary disadvantage of the Multi-currency Cash Passport is the potential for inactivity fees, which apply if the card goes unused for a prolonged period. This means that users who only travel occasionally may lose a portion of their balance if they do not regularly monitor and maintain activity on the card. While this may not impact frequent travelers, occasional users should be aware of this fee structure to avoid unexpected deductions from their balance.

Who can apply for this card?

To apply for the Multi-currency Cash Passport Mastercard, applicants typically need to meet the minimum age requirement, usually 18 years or older, as well as provide valid identification, such as a passport or government-issued ID. The card is accessible to most individuals, regardless of credit history, as there are no credit checks involved in the application process.

Since it’s a prepaid card, applicants are not required to meet income thresholds, nor is a credit score assessment necessary, making it an ideal option for those who may not qualify for traditional credit cards. Additionally, the card is available to both residents and non-residents, but they may be required to provide proof of address, depending on local regulations.

How to apply for the Multi-currency Cash Passport

For the website

To apply online, potential cardholders can visit the official Cash Passport website and select the application option. The process usually begins with an initial form where applicants provide basic details, such as name, address, and contact information.

After filling out the form, users are prompted to choose their preferred currencies to load onto the card. Once the necessary information is provided, the website will guide applicants through the payment process to load their first currency, which activates the card. Online applications are generally processed quickly, allowing applicants to receive their card in the mail within a few business days.

Through the app

Applying through the Cash Passport app is a convenient option for users who prefer a mobile-friendly experience. After downloading the app on an iOS or Android device, users can select the “Apply for a Card” option. The app will then prompt them to fill out an application form similar to the website, asking for essential details like name, address, and contact information.

Users can also load funds directly within the app, making it easy to activate the card immediately. Additionally, the app provides a smooth interface for managing funds, tracking spending, and reloading the card, making it a useful tool for on-the-go money management.

At the branch

For those who prefer an in-person application, the Multi-currency Cash Passport can also be obtained at participating branches, typically associated with partner financial institutions. When applying in-store, applicants need to bring valid identification and, in some cases, proof of address.

A representative will assist with filling out the necessary paperwork, including details on currency loading options and initial balance amounts. In-store applications offer the benefit of face-to-face assistance, allowing applicants to ask questions and get real-time support during the process. Once the application is complete, applicants can often receive their card on the spot, fully activated and ready for immediate use.