Supercard Review After 1 Year – Avoid Foreign Transaction Fees

I’ve been part of the Supercard beta testing group for the past year. For the selected few this allowed use of the Supercard before the general public to test that all systems were working correctly. Supercard beta testing ends on 7th June, with the product launching to the general public shortly after, so here is my Supercard review.

Supercard Basics

The Supercard is free (Register for a Supercard). For people new to the Supercard, it is the latest product from Travelex, and is a card that links to your existing Mastercard or Visa cards (such as your bank account, or even credit cards). Everything is super easy to manage, which is through an app on your phone. This app allows you add a debit or credit card and link it to your Supercard. When the link has been created everything you spend on your Supercard abroad is instantly recharged to your linked account.

By using the Supercard instead of your regular debit or credit card you avoid any foreign transaction fees and also receive one of the best foreign exchange rates on the market. Any purchase or cash withdrawal you make in the local currency (such as euro, dollar etc) in automatically converted to pound sterling.

supercard-basics

Supercard Benefits

Supercard let you link your debit or credit card through the app. If linking to a credit card this allows you to withdraw cash from an ATM and avoid cash advance fees or interest. It also means that you will not have to repay the funds until your credit card bill has been generated, which could a month later. The maximum value of a single ATM withdrawal is capped at £250 (or the equivalent in the local currency), and the maximum daily ATM withdrawal is capped at £500 – meaning you can make 2 withdrawals per day to reach the limit.

If your into the points game and are looking to maximise your credit card points this will only work with Visa and Mastercard, as you cannot currently link to an American Express card. It is a great way to meet sign up bonuses on credit cards such as the Barclaycard Hilton HHonors Platinum Visa where you get a free night at any Hilton in the world for spending £750.

Supercard Review

Almost all UK debit and credit cards add a 3% fee when you purchase or make a cash withdrawal abroad. Supercard removes this charge by automatically converting the amount spent into pound sterling, using one of the best foreign exchange rates on the market.

I’ve used this card in over 15 different countries in the past year, and never had a problem! I’ve been able to withdraw cash from different ATMs throughout the world, in various different currencies, and saved money by avoiding any foreign transaction fees.

Register for a Supercard to save on foreign transactions fees.