PROTECT GAP YEAR TRAVELS WITH A PREPAID CARD
Travel safely with the ICE Travellers Cashcard
Keeping a handle on the kids’ gap year spending can be done from the comfort of home thanks to prepaid currency cards such as the ICE Travellers Cashcard from travel money expert, ICE – International Currency Exchange. Parents are being urged to do their homework and choose a provider that offers a free supplementary card for their son or daughter to take abroad and doesn’t charge for a replacement card if the first is lost or stolen.
According to a Latitude Global Volunteering blog, British parents spend as much as £995 million each year helping to fund their children’s gap years*. Prepaid cards provide a secure way for them to keep tabs on spending, loading funds as necessary from home while reducing the security risk of their kids carrying too much cash.
“Part of the learning experience from gap years can come from them being on a shoestring, necessitating careful budgeting. Prepaid cards can make this easier by removing the temptation to be slapdash with cash. It’s important when choosing a prepaid card to check whether you get an emergency backup card for free, and to be aware of any additional charges there might be; account inactivity, for example”, says Koko Sarkari, COO for ICE.
The ICE Travellers Cashcard is a fee free** PIN-protected card, that offers gap year travellers a safe and convenient payment method to use while exploring. Using the ICE prepaid currency card is simple and allows both the traveller and parents to keep a close eye on the account. Card holders are provided with an emergency back-up card along with their active card, so if the card is ever lost or stolen, there’s no delay in access to funds.
Key benefits such as 1.5% cashback on all purchases of £50/$50/€50 or more on the respective cards, and free cash withdrawals from ATMs abroad***, mean that cash is accessible at the tip of their fingers, without the worry of an accumulation of huge debts – other than to the bank of mum and dad!
“Parents deserve that extra peace of mind when their gap year travellers set off on their ventures. By using the ICE Travellers Cashcard, they can manage and top-up their account easily online, while keeping an eye on their spending,” adds Koko Sarkari.
“The convenience and flexibility means that mum, dad and their wandering offspring know there is a back-up plan if money becomes too tight to mention.”
** Cards purchased with less than £700 loaded onto them cost £4.75. If you choose to load your card with money from a credit card, ICE will charge a 2% loading fee. There is a 2.85% loading fee for the Sterling Travellers Cashcard.
*** Some ATM operators and merchants may charge a fee or set their own limits.
Key Benefits of the ICE Travellers Cashcard
- 1.5% cashback on all purchases of £50, $50 or €50 (or more) on the respective cards
- No commission
- Free to purchase if the initial load is £700+. If less than £700, a fee of £4.75 applies
- Free cash withdrawals from ATMs 1
- Free backup card in case of loss/theft
- Free supplementary Family Cards for up to 2 family members, linked to the same funds
- Free to top-up the Euro and US Dollar cards 2
- Free balance enquiries either online or at ATMs 3
- Free 7 day same rate buy-back guarantee – funds converted back into sterling at the same rate 4
- No penalty fees, e.g. you will not be charged if you fail to use your card for long periods of time or if you lose your card and need a replacement, ICE will replace it for free
- Accepted wherever the MasterCard® Acceptance Mark is displayed 5
1 Some ATM operators and merchants may charge a fee or set their own limits.
2 A 2% fee will be levied if topping-up with a credit card. There is a 2.85% fee when topping-up the Sterling Travellers Cashcard.
3 Some ATM operators may levy their own charge for checking account balances.
4 Same rate buy-back guarantee valid for 7 days from last top up
5 The card cannot be used for participating in online gaming websites, at casinos or other gambling institutes, or to make regular money transfers.
Notes to editors
International Currency Exchange (ICE) has been providing retail foreign exchange for over 40 years and today has over 400 locations in 20 countries, on four continents, conducting one transaction every 6 seconds. Through its retail network, ICE offers a wide range of products and services to support the travelling public’s requirements, including foreign currency and phonecards. ICE’s online products include commission free secure home delivery currency and the ICE Travellers Cashcard, an innovative prepaid MasterCard® in £, € or US$, which can be loaded with holiday spending money before travelling, allowing all the convenience of 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 . iceplc.com
R. Raphael & Sons plc (Raphaels Bank) is the issuer of the ICE Travellers Cashcard and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Raphaels Bank is a leading issuer of prepaid cards in Europe with over 4 million cards issued through 20 partners across 14 European Countries with over 140 programmes ranging from gift cards to full Chip & PIN cards to mobile technology payment solutions. raphaelsbank.com