You have booked your flight. Got your visa. Bags packed. Now what?
At this stage you are probably thinking of calling your bank to notify them of “irregularities” that will be taking place in your account because you will be swiping your life away and living your best life. Well, not exactly! In most cases, banks block your card if they see unusual activity on your account even if you notify them prior to your travel. Great banks will even inform you of what to do in order to avoid that but hey.
A cash passport is a method of banking almost anywhere around the world without using your official bank card but rather transferring your monies from your bank account to a temporary card which can be used anywhere in the world. You have access to a maximum of 4 currencies on your card which are transferable as you travel and as you shop- NICE RIGHT!
I am with FNB and they somehow offer the quickest process for the cash passport, however, I could not apply for mine in time. Did you know FNB charges you R70 a transaction outside the country? That is a lot of money! That is a cheap burger and drink.
You are required to have a minimum of $100 which is about R1,500 to start using your card. You can also reload it anytime you want, online. This card is valid for 5 years and the currencies can be changed every time you travel so which means you don’t have to apply for another in order to have a different currency loaded.
Service providers to apply for your cash passport:
- Standard Bank
- Western Union
Ever used a cash passport card before? How did it go? How were the charges?
You may ask how this is different to any credit card like American Express-
Please comment with your thoughts in the comment section.