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Multi currency accounts and cards are currently something of a trend, and there’s good reason for that. Avoiding extortionate foreign spend fees or punitive exchange rates can make any holiday better value, and when your pound barely gets you a Euro, that’s a concern.
While TransferWise remains my currency exchange of choice (not least for its new multi-currency account option), the Post Office’s latest option is a THIRTEEN currency prepaid Mastercard, that can be ordered online.
Getting something for (almost) nothing
Key to this card, whether you consider it particularly good value or not (the rates are ok, but not great), is that you’ll get £8.40 cashback via TopCashback, which converts to 880 Avios. You need to load £50 onto the card into one of the 13 currencies, so you can do that once (for a currency that works for you), spend the balance, bag the cashback, and you’ll have done well from this deal.
What currencies are included?
One prepaid Mastercard card for 13 currencies:
- Euro (EUR)
- US Dollar (USD)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Croatian Kuna (HRK)
- New Zealand Dollar (NZD)
- Polish Zloty (PLN)
- Pound Sterling (GBP)
- South African Rand (ZAR)
- Swiss Franc (CHF)
- Thai Baht (THB)
- Turkish Lira (TRY)
- UAE Dirham (AED)
Would I use this card on an ongoing basis?
No – I’m taking the cashback, spending the Euros and then sticking with my TransferWise multi-currency Debit Mastercard. At the time of writing, £50 with Transferwise gets you €55.37:
That’s compared to €54.53 with the Post Office Mastercard:
Plus 1,575 Avios (£15) bonus for all new members
All new TopCashback members can also bag an exclusive 1,575 Avios (£15) bonus with the first purchase via TopCashback, just for signing up through the InsideFlyer link.
Note that there are some retailer exclusions for earning the bonus (full list at the bottom of the page here), but with thousands of retailers to choose from, you shouldn’t have any trouble finding something suitable!