We recently introduced you to the new foreign currency prepaid MasterCard by SellOffVacations.com that you preload with local foreign currency in our article Stay on Budget with the SellOffVacations Travel FX Card and we thought we’d share a bit more information why this may be a great option for Canadians planning a trip to the US, Europe, UK or Mexico.
To summarize, with the SellOffVacations Travel FX card:
- You can load up to equivalent of $3000 CDN in US Dollar, Mexican Pesos, British Pounds and Euros. (Only one currency is loaded on the card at a time)
- Foreign currency exchange rate is locked in when you load the card with funds
- The card can be reloaded online should you need more funds during your trip or for your next trip
- Funds don’t expire on the card so you can use the leftover money on your next trip
- You can track your daily spending activity online and easily check your balance
- Cards are protected with PIN and chip technology
- Card is standalone and not linked in any way to your main bank account
- Card works just like any other MasterCard worldwide
Here’s a great video explaining the card in more detail:
Once I found out about this card, I started spreading the word to my friends, family and of course my husband and the one word that came out of all their mouths was FEES. I give my family and friends credit for thinking about this because fees can really start to add up where you least expect and they are a really important factor when you are planning a travel budget.
As you can see from this chart found here the fees involved when converting Canadian dollars to other currencies in using the SellOffVacations Travel FX Card are much lower than using International ATMs, Airport Cash Counters, or even your regular credit card making it a very unique option when budgeting for a trip abroad.
|Currency||General Cash Rates (One Time – at purchase)||Fees when using your regular credit card (Every Transaction)||Fees when using International ATMs (Every Transaction)||Fees when using Airport Cash Counters (One Time – at purchase)|
|USD||2.5%||3.5%||*5.50%||$3.00 + 3.00% FX||15.25%|
|EUR||3.0%||4.0%||*5.50%||$3.00 + 3.00% FX||15.10%|
|MXN||3.0%||5.0%||**6.50%||$3.00 + 3.00% FX||14.10%|
|GBP||3.0%||4.5%||**6.50%||$3.00 + 3.00% FX||14.23%|
* 2.50% credit card fee + 3% exchange fee
** 2.50% credit card fee + 4% exchange fee
For more information and to order your card check out the SellOffVacations website
For a limited time only SellOffVacations is offering this bonus:
Coming soon SellOffVacation.com will be having a load & match deal when you book a SellOffVacation trip over a certain value.
The promotion may change, but from what I understand it will be as follows:
- Load $50 get $50 when you book a SellOffVacation trip of $695+
- Load $100 get $100 when you book a SellOffVacation trip of $1,100+
DISCLAIMER:This post is brought to you by SellOffVacations™. All thoughts, opinions are my own.