• Best Prepaid cards for international travel

    Prepaid cards and credit cards work similarly. The only difference between these two is how you charge them. With a credit card, you can borrow funds and pay back to the bank on monthly basis, but a prepaid card doesn’t let you borrow money from the bank. You use your own money via a prepaid card.

    A prepaid card can be one of the best alternatives for credit and debit card. It can be used for shopping, dining, travel, fuel, and many other retail purchases. Let’s look at how a prepaid card works.

    Prepaid Cards – Working Mechanism

    A prepaid card looks almost similar as a debit or a credit card. But it doesn’t work exactly like these two. In order to use a prepaid card you are required to load funds onto it using either of the following ways:

    • Set up a direct deposit to your prepaid card.
    • Bring cash to a retail store that can add funds onto your card.
    • Use a cheque to transfer money to your card.
    • Transfer funds to your prepaid card from your bank’s savings or current account.

    Prepaid Cards Usage

    You can use a prepaid card for:

    • Shopping
    • Dining
    • Travel booking
    • Bill payments
    • Entertainment
    • Petrol purchase

    Best Prepaid Cards for Overseas Travel

    Card Name Major Benefits Cash Advance Fee Overseas Transaction Fee Annual Fee
    Maybank prepaid cards
    • Accepted at Visa merchants around the globe.
    • Earn 1x TREATSPoints on RM2 spent on retail purchases.
    RM0-RM10 Administrative cost of 1% in addition to transaction fee charged by VISA international/ RM6
    CIMB prepaid cards
    • Get cash rebate of 1% on Lazada spend.
    • Can be used online and at shops around the world.
    RM0-RM10.60 Administrative fee of 1% in plus transaction fee charged by MasterCard international. RM10
    RHB prepaid cards
    • Accepted worldwide.
    • Earn up to 3 Sogo Reward Points with every RM1 spent at Sogo.
    RM0-RM8.48 1% of the amount charged billed in equivalence to Malaysian Ringgit. RM25.44
    Aeon prepaid cards
    • Accepted at more than 5,000 merchants.
    • Can be used all around the world.
    RM0-RM10 Fee charged by MasterCard international plus 1%service charge. No charge

    Let’s look at these cards in detail:

    Maybank Prepaid Cards

    Features and Benefits

    • Can be used for Autopay and online transactions.
    • Come with no late charges and monthly interest rate.
    • No cap on the purchase limit, i.e. you can use the entire available balance.
    • Come with a minimum reload amount of RM10 and a maximum reload amount of RM10,000.
    • Can be used to earn 10x TREATSPoints at United Direct Online Magazine.
    • Can be reloaded via ATMs, CDMs, interbank GIRO, and Maybank2u.
    • Doesn’t require any income document.

    Who Can Apply?

    • Malaysians and non-Malaysians with a valid address in Malaysia.
    • Individuals who are 18 years old or older.

    Documents Required

    • A copy of MyKad or police/armed forces’ ID card.
    • A copy of passport (for foreigners).

    CIMB Prepaid Cards

    Features and Benefits

    • Get up to RM25 cash rebate per month on Lazada purchases.
    • Can be used for online and in-store purchases.
    • Get discounts, deals, and privileges from a range of selected merchants.
    • Can be used to withdraw cash.
    • Can be applied online from home.
    • Easily manageable via CIMB Clicks.

    Who Can Apply?

    • Malaysians with an active mobile number registered in Malaysia.
    • Individuals who are at least 18 years old.

    Documents required

    • A copy of MyKad.

    RHB Prepaid Cards

    Features and Benefits

    • No minimum income requirement.
    • No late payment charges, monthly fee, or reload fee.
    • Maximum reload limit of RM1,500.
    • Can be used to withdraw cash.
    • Can be used at Sogo to earn
      • 1 SOGO Reward Point with RM1 spent for purchases below RM500.
      • 2 SOGO Reward Points with RM1 spent for purchases ranging between RM500-RM1,000.
      • 3 SOGO Reward Points with RM1 spent for purchases above RM1,000.

    Who Can Apply?

    • Malaysians and non-Malaysians with a valid mailing address in Malaysia.
    • Individuals who are 12 years old or older.

    Documents required

    • A copy of MyKad, or
    • A copy of passport.

    Aeon Prepaid Cards

    Features and benefits

    • Annual fee waived.
    • Can be used around the globe.
    • No minimum income requirement.
    • No Government Service Tax.
    • Can be reloaded via any AEON counter and AEON cash deposit machine.
    • Joining fee of RM25.
    • Maximum reload limit of RM10,000.

    Who can apply?

    • Malaysians who are at least 18 years old at the time of application.

    Documents required

    • A copy of MyKad (both sides).
    • A copy of address proof with a mailing address in Malaysia (No PO box address).

    Prepaid cards let you shop conveniently when you are travelling overseas. Compare the cards and choose the one that suits your lifestyle.

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