Prepaid Currency Card
Thank you for your interest in MagellanFX. We will soon be launching a prepaid currency card that will solve the following problems for US travelers abroad:
- Acceptance: European countries have converted to “chip-and-pin” card technology at merchants and ATMs. This has caused millions of U.S. cardholders to be inconvenienced by merchants or unattended terminals (i.e. gas stations, train stations, toll booths) that don’t accept magnetic stripe cards.
- Security: Cardholders risk losing their everyday credit or ATM card while traveling abroad. 60% of travelers are fearful of theft or fraud on their card while overseas.
- Fees: Banks charge hefty international transaction fees averaging 5.6% for ATM withdrawals and 3% for credit cards. Half of American travelers are deterred from using their card by international transaction fees.
