Following the successful run of their pilot scheme, Travelex have now launched the 'Supercard' to the public.
Billed as a 'goodbye to charges', the Supercard removes the foreign transaction fees in over 43 countries across the globe. The pilot card banished cash withdrawal fee charges too, but this aspect has been removed - so solely for purchases made abroad using the Mastercard backed card there will be zero charges.
The tech savvy will love that the card is administered using an iPhone or Android App. The user registers up to five credit/debit cards with the app and this electronically links them to the physical 'Supercard'. When the card is used overseas, Travelex debits the linked card of the transaction amount almost as a conduit.
There is no credit check requirement as it is not a prepaid or credit card but applicants are verified and must have a UK address and UK bank account.
If the cardholder uses the supercard to make a transaction on home soil there will be a 1 percent charge and £1 fee if used in a cash machine.
Mastercard sets the foreign exchange conversion value and this is thought to be better than that offered by Visa.