UK Money News
6th August 2008
Tesco launches new pre-paid card
Tesco has launched a new pre-paid credit card aimed at travellers looking to control their expenditure on holiday.
The Travel Money Card enables holders to pre-load it with foreign currency before embarking on their trip and prevents spending beyond a certain limit.
In this way, unlike a standard credit card, it prevents financial loss if it is stolen or lost.
It also differs from other products of the same ilk by not charging users for car issue, loading, commission and the absence of a monthly administration fee.
The company developed the product after a survey it conducted revealed that holidaymakers are becoming increasingly worried about falling victim to theft when holidaying.
Of those quizzed nine per cent said they had their wallet or purse stolen while abroad, while seven per cent said they had items stolen from hotel safe deposit boxes.
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