I found out about these great Cash Passports from Canadian Automobile Association. What they are, are they are like debit cards loaded with the currency of your country ie: CDN/USD etc... So they can put as much as you want to a limit I am sure and you can withdraw from any VISA ATM machine, but the only downfall is $3.00 per transaction, but if you think about it, it's really not so bad if you take out cash for a few days. They are safer than travelers cheques as if they get wet it's still going to work and they give you two cards, so you can leave one at home (just in case you run out of cash someone back home can reload it) or you can stash one in another piece of luggage in case the other is lost.

Just thought I would share that with all the great Canadian travelers. I am sure there is something similar if you're not Canadian.

But why would you pay $3.00 per transaction when you could use a regular debit card and pay nothing? I don't get it.

Why is this better than using a regular ATM card?

It all depends on your bank though, because some banks will charge you a fee to convert the money, this doesn't at all. As for credit cards they also charge you a fee and a conversion fee, so this is cheaper. I guess using a regular ATM is fine, but if you bank charges you fees for conversions, then I would assume it'd cost more. Just a thought.

we have thioose too - VISA debit cards - and hte big advantage is that you aeren't at risk fo rmore htan hte card is loaded with if you lose it or it's stolen..I don;t like bringing my ATM to Europe in case someone does access my actual bank account - they cxuld wirthdraw all my money in one fell swoop. Ad while I woul dge tit back, Iit would be a hassle to deal with while traveling.

damita98: These cards are a terrific waste of money. The only time they (almost) make sense is for teenagers or others who for some reason can't get their own bank accounts and/or ATM cards.

The CAA card will charge you to load your own money into it, will charge you for each withdrawal, will charge you to re-load it w/ more of your own money, will assess a currency conversion fee higher than for ATM cards, and will charge you to withdraw any funds that might still be on it when you get home. They are a REAL money maker - but not for those who use them . . . .

I don't want to risk my checking account either, so I opened a free checking acct and fund that solely for travel purposes. The bank refunds ATM fees imposed by other banks' machines and passes the 1% Visa conversion only. The risk is limited only to the balance I have placed in it, which will be replaced by the bank (eventually) in case of fraud or theft. So - I get to use my money for free (except the 1%), have limited risk, and ease of use.

For those that are wondering why a person would use a cash passport card rather than a normal debit card:
The card is not tied to your checking or savings account. So, if it gets stolen, you don't have to worry about your accounts being compromised.

If you have a "good" bank, you don't have those worries with an ATM card either.

The only effective thing about the pre-paid cards is the marketing campaign behind them. Too many fees. Too many rules.
If worried about your mainline bank account, then follow Travelnuts's advice. I also bring my regular bank debit card, but tucked away in a neck pouch only as a back up, along with a credit card or two.

It sounds similar to the same kind of card from the US AAA. As others said, the main drawback is the exchange rate, and various flat fees for them. The transaction fee isn't bad (most people do have transaction fees with debit/ATM cards, that's not unusual). $3 per transaction is nothing that unusually high, as that is Canadian dollars.

Thanks for that. It is always good to hear various opinions prior to travel. I plan to take a debit card and two credit cards but will continue to check my balances. I have also managed to get my banks to sms me details of any transfers into and out of accounts but unsure whether this will work overseas, but can't imagine why it wouldn't.

There is good info on this thread but no need to respond to the OP as the thread is 8 years old.

We have these sort of things in the UK where they are used
1) to take just a bit more money off you or
2) to get around EU legislation for Cheepo airlines like Ryan$$$$, Easy$$$ or Jet2 to have a zero charge debit card but strangely when you try to use them the software never work (and yes I've spoken to a non-exec director at Jet2 about this).

I suggest leave such things alone