Visa Prepaid Debit Card Fees – Traveling abroad soon? Instead of queuing at a currency exchange office to buy currency or use a credit or debit card, why not buy a prepaid card? Here is a list of the best prepaid visa cards you can use on your next trip abroad.

Some may ask, why do you need to buy tickets in advance? Why not use your existing debit or credit card from your bank?

Visa Prepaid Debit Card Fees

Well, the first benefit is better control and security. With a prepaid card, you can top up exactly the amount you need to spend abroad. Additionally, you can reduce the risk of exposing debit card details associated with your savings account if you lose your card. As you know, filing a debit card transaction dispute can take some time, so why not use a separate travel card to save yourself the hassle?

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Another advantage is low cost. In most cases, travel-focused prepaid cards offer lower rates for foreign transactions and even lower rates for withdrawing cash from overseas ATMs. In some apps, it will also show you the real-time exchange rate of your country, which is very convenient.

The third feature is the multi-currency wallet. Some prepaid cards allow you to hold different currencies, meaning you can buy and hold foreign currencies such as euros, dollars or pounds when interest rates are lower. This can help you save money when exchange rates are high and you don’t have to worry as much about exchange rate changes.

The first is BigPay, AirAsia’s prepaid card. Registration from the app is free and comes with a prepaid virtual card. If you want a physical paywave card, it is no longer free and you will have to pay RM20.

After completing the eKYC verification process, you can get a wallet size of up to RM20,000. You can top up your balance via online banking or even via credit card. Please note that BigPay will charge a 1% fee if you top up more than RM1,000 via credit card per month.

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[Updated October 8, 2023] BigPay is introducing new fees as of August 30, charging up to 3% on credit card top-ups and an additional 0.5% on overseas ringgit transactions.

With a physical card, you can use it at almost any card terminal that accepts Visa paywave or chip and PIN. You can also use it to withdraw cash, which costs RM6 at local ATMs and RM10 at international ATMs within the Visa network.

Apart from this, BigPay also supports QR code payments via DuitNow QR. Recently announced, you can use it to scan and pay abroad using Singapore NETS codes, Indonesian QRIS, or Thai PromptPay QR codes.

The BigPay app is very sleek and simple, and provides a very good interface for monitoring your spending abroad. You can also manage your card from the app, including freezing it so that no transactions can be made if your card is lost.

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Next is the prepaid Touch ‘n Go Visa card linked to your Touch ‘n Go wallet. This is useful if you want to use TNG Wallet points somewhere that doesn’t accept QR code payments (including DuitNow QR). Like BigPay, you can use it anywhere Visa is accepted, including Paywave and Chip and Pin. Currently, the physical card price is RM10.

Since the card is linked to your TNG wallet, you can top it up using your credit card. However, if you need to transfer money to another account, Touch ‘n Go has started charging a 1% fee for credit card top-ups above RM1,000 per month. After completing the TNG eWallet eKYC process, you can technically get the maximum wallet size of RM20,000.

The Visa Touch ‘n Go card is also the first card in Malaysia without a number. So, even if you lose your card, no one will be able to steal your card details to make online transactions. Visa cards can also be used to withdraw from ATMs. Domestic ATM fees are RM1.40 and international Visa ATM fees are RM15.

Malaysia Airlines also has a prepaid travel card called EnrichMoney. The card is offered in partnership with MerchantTrade, which offers its own multi-currency wallet that supports 20 currencies such as the US dollar, Singapore dollar, Australian dollar, British pound, euro, Chinese yuan, Thai baht and more. You can then convert the money into your preferred currency and spend it abroad.

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The only thing is that when you register, you need to top up at least RM100, and then you will be deducted RM40. RM10 is the physical card fee, RM10 is the annual fee, and the other RM20 will be used as a refundable deposit. This means that after the first recharge of RM100, your balance will only be RM60. Unlike BigPay, there is no separate virtual number. However, the maximum EnrichMoney wallet capacity is also up to RM20,000.

Wise is also another multi-currency wallet, but it offers more features. In addition to the ability to exchange and top up wallets with different currencies, Wise also allows you to receive money like a local in some countries. For some forex wallets, they also provide “local bank account” details so you can access your money like a local. However, it may take a few days for the transaction to be credited to your account.

To create a new Wise account, you need to top up a minimum of RM101. Yes, RM101, and for some strange reason, there is an extra RM1. If you want a physical card, it will cost you RM13.70.

Another great thing about Wise is that you can create up to 3 virtual card numbers, which is great. You get 3 additional cards that can be used for digital purchases like e-commerce, transportation, and theme park tickets. If there is a security breach on one of the digital platforms where your card is stored, you can easily cancel or change your virtual card without having to replace your physical card.

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Another benefit of Wise is that it only charges RM5 per ATM withdrawal, and the first two ATM withdrawals of less than RM1,000 per month are free. Wise will charge an additional 1.75% fee on withdrawals exceeding RM1,000 per month.

The fifth and final recommendation on our list is Maybank’s MAE. Basically, this is Maybank’s digital banking product that allows you to create an e-wallet with a linked debit card.

MAE allows you to view your account balance in local currency through the automatic currency conversion feature. However, the maximum wallet capacity is only RM10,000.

The card costs RM8 per year and allows you to make unlimited local withdrawals from Maybank ATMs. For international withdrawals, the fee is RM12. As an added bonus, MAE supports both Apple Pay and Samsung Pay, making it easy to make contactless payments using your iPhone or Apple Watch.

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Note that some cards offer additional rewards for your purchases. For example, BigPay lets you earn 1 AirAsia Big Point for every RM30 you spend, which you can use as a discount on your next AirAsia flight. Meanwhile, EnrichMoney allows you to earn EnrichMoney Points (not to be confused with Enrich Points), with one EnrichMoney point for every RM20-30 invested and used for “cashback” after the transaction.

Prepaid card providers may change their terms and conditions from time to time. It is therefore best to refer to the relevant product disclosure sheet for the latest prices and fees.

Here are some tips when using your card abroad: First, if the card machine asks you to select a currency, make sure you select a foreign currency and not ringgit. In most cases, the ringgit exchange rate offered by foreign providers is much more expensive, so if you are in Europe, choose the euro.

Second, track your transactions from the app. If you lose your card, you can freeze it immediately to prevent transactions. It’s much easier than calling your bank to suspend the card, and you won’t have to incur expensive roaming fees. For more control, you can also disable online payments, ATM withdrawals, overseas spending, and even change your PIN in the app.

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Third, if you plan to use the card to pay online, try using a virtual number. If a particular site experiences a data breach, you can easily change your virtual number without having to replace your physical card. This makes it less hassle and you won’t have to wait for a replacement card.

If you need to stay connected abroad, you may want to get a roaming plan for your phone. In case you missed it, here is a list of the best roaming plans offered by Telekom Malaysia. Prepaid cards are debit cards loaded with cash and can be used anywhere Visa/Mastercard/AMEX debit cards are accepted. The main difference between prepaid cards and bank account debit cards is that they are not linked to your bank savings account, making them easier to set up and maintain. Prepaid debit/credit cards are not widely used in Singapore these days

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