Deciding on how to carry money while travelling can always be confusing. There are a number of ways to do this and each one of them has its own merits and demerits. A prepaid mastercard is just one of the ways to carry funds while on your travels.
Prepaid cards have actually been around for quite some time. They first made their appearance in the late mid 19th century. In fact, credit and debit cards followed prepaid cards later. Prepaid cards were given out to people who frequented select clubs and establishments where large amounts of cash would be required for a visit like casinos or gentleman clubs.
Prepaid cards are better than credit cards because they allow you to control your spending due to the limit imposed by the amount of money you have deposited in the account.
We then arrive at the question of how the prepaid card works. In order to use such cards, you will have to put money on the card. The card is protected by a secure PIN code and hence only you can access the funds. Companies are now offering online services in order to manage your bank account while abroad or at home.
These cards can be accessed world wide wherever the relevant credit cards service provider logo is displayed. If you have applied for a prepaid MasterCard, you will have to use it where MasterCard logo is displayed.
Being able to use your card instead of cash will give you a lot of flexibility and safety. In a foreign country, it is always safe not to carry large amounts of cash for security reasons. You will not be required to pay foreign ATM fees since the card was not issued to you in that particular country. Therefore, there would be no concern about exchange rates. If your card happens to be lost or stolen, all you need to do is report it to your service provider and have the card cancel.