US Dollar Currency Cards
Compare Prepaid US Dollar Cards
US Dollar currency cards are a type of prepaid card designed to be used as payment for goods and services in the USA. They offer the same level of chip-and-pin protection offered by UK credit and debit cards but with better exchange rates and no additional charges when used in the USA.
See our guide to prepaid US Dollar cards for more information.
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Prepaid US Dollar Cards
Prepaid US Dollar Cards are a special kind of payment method which are designed to be more cost-effective than a standard UK credit or debit card when used in the USA. They are intended to be a modern replacement to Travellers Cheques as they are more secure, more widely accepted and can be used anywhere in the world that accepts VISA or MasterCard.
Like traditional bank cards they are made of high-quality, durable plastic and come complete with chip-and-pin protection as standard which means they are just as secure as a regular bank card. However, unlike traditional bank cards, prepaid cards are not linked to your bank account in any way which means you cannot go overdrawn with them; you simply 'load' US Dollars onto your card over the phone or internet (paying using your regular bank card) and top your balance up when it runs out. There are no hidden charges and no surprise bills when you return home from the States!
Most prepaid US Dollar cards are free to purchase (a minimum initial top-up of around £50 is usually required) and are suitable for everyone from solo travellers and couples to families and large groups. Multiple cards can be linked to the same account which is perfect for families on a budget and any left-over currency at the end of your trip can be converted back into Pounds, usually at the rate you bought it at.
Prepaid US Dollar cards lie somewhere between cash and credit / debit cards when it comes to cost-effectiveness. Here are a couple of typical usage examples so you can see how the costs compare:
US Dollars received when spending £100 in a shop or restaurant in the USA*
US Dollars received for £100 from an ATM in the USA*
* Based on data taken on 24/11/14. The cash equivalent was calculated using the USD rate of 1.5455 offered by Travel FX. The cards we compared were: FairFX US Dollar Card, Barclays Visa Debit and Barclays Visa Credit.
1) Once you sign up for a card you'll be asked to create an account on the card issuer's website. This is where you'll login to check your account balance and top your card up whenever you need to. The first time you sign up you'll need to load a small amount of US Dollars on to your prepaid card and this balance will show up on your account straight away.
2) Your prepaid card will arrive in the post usually within a couple of working days of placing your order. It will contain a PIN number and instructions on how to activate the card which usually involves logging back into your account and following a few instructions. Once activated your card is ready to use. TIP: You can change your PIN by taking your prepaid card to any UK cash machine just like a regular bank card.
3) You can use your prepaid card just like you would a regular UK bank card to pay for goods and services or withdraw cash anywhere in America that accepts VISA or MasterCard. Any time you make a payment on the card, the amount (plus any applicable fees) will be deducted from your card balance. Once your balance reaches zero, you cannot spend any more until you top it up. As the card is not linked to your bank account in any way, you cannot go overdrawn; there is no overdraft or credit facility associated with your prepaid card and no monthly statements.
4) You can top-up or reload your prepaid card at any time with your standard UK debit or credit card by logging back into your online account. Most cards also allow you to top-up by phone, SMS and via the Post Office. Once you have reloaded your card your US Dollars will be available almost instantly so if you top-up in your hotel room you can withdraw the cash by the time you leave your room!
5) If you need any help or advice, or if your card is lost or stolen you can ring the 24-hour helpline provided by your card issuer. Remember: unlike cash your US Dollars cannot be stolen from a prepaid card as your balance is chip-and-pin protected.
What really makes prepaid US Dollar cards worthwhile is how much cheaper they are to use in America compared with regular bank cards. To understand why, first you have to understand a little bit about how the charges can add up when you use your regular bank card in the USA.
Firstly there's the exchange rate. If you use your UK bank card in the USA your bank will convert your British Pounds into US Dollars using their daily exchange rate at the time you make the payment. High street banks are notorious for having some of the worst exchange rates because they don't have to be competitive. Your bank will also add on transaction or point-of-sale fees which can be a fixed amount or a percentage of the total transaction value. That's a fee you have to pay your bank every time you use your card or withdraw money in the USA!
So how are prepaid US Dollar cards different? Well most card providers we compare offer far better exchange rates than UK banks (you can check their rates now in the table above) and you'll be able to plainly see the exchange rate on offer well before you top your card up each time so you know exactly how many US Dollars you'll be getting. As for the transaction fees - well there aren't any. There's no catch. For most suppliers you can use your card as often as you like in America without incurring any additional costs (although some cards do charge, and some charge for ATM withdrawals so make sure you check out our comparisons above).
Prepaid US Dollar cards are designed specifically to be used in the USA and aim to provide the flexibility of cash with the security of a bank card - without the unnecessary and expensive usage fees. Here we've tried to summarise the pros and cons of using one:
- They are more secure than cash and use chip-and-pin protection so your money cannot be stolen
- They are cheaper to use in the USA compared to a standard UK credit or debit card
- They can be used anywhere in the world that accepts Visa or MasterCard
- You can top them up at any time over the phone or internet
- There are no hidden charges and they are not linked to your bank account so you cannot go overdrawn
- Most cards are free and there are no credit checks are required
- Ideal as a back-up to cash in case of emergencies
- Despite their wide usage, some merchants may not accept them
- It can still be cheaper to take cash
- They are expensive to use in countries other than the USA