AA Euro Prepaid Card with rewards
AA Financial Services has added The AA Euro Travel Currency MasterCard Prepaid Card to its growing portfolio, just in time for Autumn breaks across the channel.
It is one of the first such prepaid cards to carry a comprehensive reward system.
The card comes at a time when the Sterling / Euro exchange rate offers scant comfort for UK holiday makers to the Euro-zone while an AA/Populus survey of 16,000 AA members shows that many families are cutting back on holiday spending because of the economic situation.
The research shows that more than half (56%) of respondents have changed or are changing their holiday plans because of economic concerns and, of them, a quarter (25%) plan to holiday in Europe rather than further afield. A further 25% are looking to take cheaper holidays outside the UK.
The new AA Euro Card is loaded with Euros, allowing families to make savings on their holiday spending because it avoids exchange rates being charged when purchases are made. It offers a secure alternative to carrying cash, there are no transaction fees (when you spend in the Euros) and ATMs are free (when you with draw €50 or more, below €50 and there is a €1.50 fee). In addition, it offers the opportunity to earn reward points.
Mark Huggins, director of AA Financial Services says: "The AA Euro Travel Currency card works round-the-clock in much the same way as a credit or debit card for purchases and at ATMs. Every time you use your card for purchases, there are no fees to pay. It's the perfect partner to the AA Credit Card and attracts the same generous rewards, helping your Euro go further.
"Once you're home, you can move your points over to your AA Credit Card balance, or redeem them separately.
"I believe it is the only Euro Currency Card to offer such a comprehensive reward system," he says.
Every purchase earns points that can later be exchanged for a wide range of goods, vouchers, AA products and services or cash back. Motoring spend - for example fuel - attracts double points regardless of where in Europe it is bought. AA members enjoy twice the earn rate of non-members.
The card costs £9.95 to purchase although this is credited back with the first £100- worth of Euros loaded on to the card. Cardholders are automatically provided with a linked online account which holds Euros exchanged from Sterling, the rate for which can be worked out on a calculator at theAA.com. Balances can be checked online or by text message and the card can also be topped-up free of charge from the linked account by text message.
"This is the best solution if you plan to use a card in mainland Europe and is ideal for a motoring holiday since purchase of fuel earns double reward points," Huggins points out.
"The Euro card provides immediate access to funds without costly exchange rates or other charges, allowing your holiday money to go a little further. Both are easy to use at shops, ATMs and everywhere else that the MasterCard Acceptance Mark is displayed.
"Anyone over the age of 18 can have one too, as there are no credit checks."
AA Financial Services has also added a Sterling variant of the currency card to its range which is useful for travel outside the Eurozone.