American Express launch prepaid travel card

Posted On Aug 17 2019 by

first_imgAmerican Express has announced the launch of a new prepaid travel card as a substitute to cash for travellers.The GlobalTravel Card expected to be released early next month was designed by the financial company as a reloadable card with extra services and features.According to American Express Global Prepaid Vice President and General Manager Lawrence Chan the card is available for conversion to USD, EUR and GBP and has an array of features including a secured exchange rate system.“As many travellers know all too well, it is very easy to lose track of the exchange rate while travelling, miscalculate currency conversions or underestimate travel budgets… This is where travel cards come to the fore,” Mr Chan said.“The card allows an attractive exchange rate to be locked and loaded so travellers don’t need to worry about exchange rate volatility.”The inbuilt 24/7 global services feature offers cardholders assistance with lost or stolen credit cards, wallets, luggage and support for emergency legal or medical referrals.American Express has also included a free of fee replacement service to the traveller’s destination for lost or stolen cards.“Not only do prepaid travel cards give travellers’ greater control over their finances, they provide the certainty of global acceptance and an enhanced level of security and fraud protection,” Mr Chan said.Mr Chan said the lack of inactivity fees and no fund expiry period makes the card attractive to people looking to exchange currency without intentions to travel.“Up until now, when the dollar has been strong, it has been common for travellers to stock up on travellers cheques, but now Australians are also turning to our new prepaid currency card which has no time limit on when the currency needs to be spent.”The card will be available early November from American Express Foreign Exchange Services offices and Australia Post retail outlets and is accepted globally at millions of locations outside of Australia.    Source = e-Travel Blackboard: N.Jlast_img read more