Prepaid Cards Offer Safe Travels
When members ask for foreign currency or prepaid cards for international travel, do you send them to the bank down the street?
There’s no need to do that given the availability of Travelex Prepaid Cash Passport Cards. This is a turnkey program with minimal risks, reporting requirements, and costs to your credit union.
Cash Passport is a prepaid MasterCard-branded card issued in British pounds sterling, euros, or U.S. dollars, offering travelers a safer way to carry money. These cards are accepted at retailers displaying the MasterCard acceptance logo and at more than one million ATMs worldwide.
Members may reload their card 24 times at the credit union or by phone.
Travelex Foreign Currency Services helps build even stronger member relations through the addition of foreign-denominated bank notes and other foreign-denominated products.
Credit unions can use the popular Travelex CashPax™, a convenient, bill-sized packet of foreign currency in small denominations. The CashPax is available in euros, pounds, yen, Australian and Canadian dollars, and Mexican pesos.
Besides their convenience, travel cards provide security and value-added services. Travelex offers Global Emergency Assistance, where travelers can report and replace a lost or stolen card and get, among other things, emergency cash, assistance with medical and other emergencies, and lost passport assistance.
The cards, which holders can recharge remotely or at their credit unions, are becoming popular among parents who see them as ideal for their traveling children.
Travelex is a CUNA Strategic Services alliance provider.