Traveling abroad often comes with the challenge of managing expenses while ensuring safety and convenience. Activo Bank’s International Pre-paid Card offers a seamless solution for globetrotters looking to simplify payments and withdrawals outside of Portugal. With its unique features and cost-saving benefits, this card is designed to make every journey hassle-free and budget-friendly.
Whether you’re an occasional traveler or frequently crossing borders, the International Pre-paid Card ensures that you have a reliable and secure payment method. In this guide, we’ll delve into the card’s key aspects, benefits, and application process, helping you decide if it’s the right fit for your financial needs.
Key information about the credit card
How does the annual fee work?
The Activo Bank International Pre-paid Card comes with an annual provision fee of €15, accompanied by the Stamp Duty. While this fee ensures access to a variety of travel-friendly features, the cost is straightforward and transparent. Unlike other cards that may include hidden fees, this one focuses on keeping the annual charge minimal, offering excellent value for frequent travelers.
The €15 annual fee is paid upfront and isn’t subject to installment payments. Though there are no fee exemptions, the value it provides for international use—particularly through the elimination of foreign transaction fees—is noteworthy. For those who travel frequently, this small investment can translate to significant savings on foreign payments and withdrawals.
How is the credit limit determined?
As a pre-paid card, the Activo Bank International Pre-paid Card does not have a pre-determined credit limit like conventional credit cards. Instead, the cardholder determines their spending limit by loading funds onto the card. This approach offers flexibility and complete control over your budget, making it ideal for those who prefer to avoid debt or closely monitor their expenses.
The minimum top-up amount is €5, and additional funds can be added via the app or website whenever needed. This feature is particularly useful for individuals looking to stick to a budget while traveling, as they can only spend what has been preloaded onto the card.
Advantages of the credit card
- No foreign transaction fees: Payments and withdrawals outside Portugal do not incur additional foreign transaction charges, a significant cost-saving feature.
- Digital card availability: While waiting for the physical card, you can use the digital version via the app, linking it to MB Way or a digital wallet for instant access.
- Flexible top-ups: Load funds starting from as low as €5 through the app or website, allowing complete control over your spending.
- Enhanced security: Includes 3D Secure service for safer online transactions, ensuring that all payments are verified and secure.
- International payments control: Temporarily disable international payments when not traveling for added safety.
Standout advantage
The card’s standout feature is its elimination of foreign transaction fees, a rarity among pre-paid cards. This benefit ensures that payments and withdrawals made in currencies other than the euro are not subject to additional charges. For frequent travelers, this translates to substantial savings, especially in regions where conversion rates or fees are typically high.
Disadvantages
- Annual fee: The €15 annual fee may deter occasional travelers who may not maximize the card’s benefits.
- Withdrawal fees outside the Eurozone: Withdrawals in non-euro currencies are subject to a €5 fee, which can add up for those needing frequent cash access abroad.
- No rewards program: Unlike many credit cards, this pre-paid card does not include cashback, travel points, or other reward systems.
A standout disadvantage
The most significant downside is the €5 fee for cash withdrawals in currencies other than the euro. For travelers who rely on cash transactions, these fees can become a recurring expense. While the elimination of foreign transaction fees offsets this to some extent, the card may not be ideal for those who frequently withdraw cash during international trips.
Who can apply for this card?
To apply for the Activo Bank International Pre-paid Card, applicants must meet several requirements. The card is available to individuals aged 18 and above with a valid Portuguese tax identification number (NIF). There is no minimum income requirement, as it is a pre-paid card, but applicants must have an active Activo Bank account to load funds onto the card.
Additionally, the card is suitable for individuals with varying credit histories, as there is no credit check required. This makes it an excellent choice for those looking for a straightforward financial solution without the complexities of traditional credit card approvals. Applicants must also provide proof of identification and residency to complete the application process.
How to apply for the Activo Bank International Pre-paid Card
Applying for the Activo Bank International Pre-paid Card is a straightforward process that can be completed online, via the app, or at a physical branch. Each method is designed to ensure convenience and accessibility for all customers. Below is a detailed explanation of the application process for each option.
For the website
To apply through the Activo Bank website, start by logging into your account. Navigate to the “Cards” section and select the International Pre-paid Card option. Once selected, you’ll be prompted to fill out a simple application form with your personal details and account information.
After submitting the form, you’ll receive a confirmation email detailing the next steps. The card will then be processed, and you’ll receive both the digital version (available immediately in your app) and the physical card by mail within a few business days.
Through the app
Using the Activo Bank app, the application process is even more streamlined. Log in to your account and access the “Cards” menu. From there, select the International Pre-paid Card and follow the on-screen instructions to complete your application. The app allows you to upload any required documents directly, making the process fast and efficient. Once your application is approved, your digital card will be available for immediate use, and the physical card will be delivered shortly after.
At the branch
For those who prefer in-person assistance, visiting an Activo Bank branch is the best option. At the branch, a customer service representative will guide you through the application process, answer any questions, and help you complete the required forms. You’ll need to bring your identification documents and proof of residence. The digital card will be activated shortly after the application is processed, while the physical card will be mailed to your registered address.
