MasterCard Releases Ukash Card in the UK

July 1, 2014, Written By Lynn Oldshue

MasterCard recently released the Ukash Travel Money Prepaid card, which is designed to give UK travelers the lowest foreign exchange rate while they are on vacation. The card has no annual fees, transaction fees or ATM withdrawal fees abroad.

The Ukash card is designed to help those individuals avoid hefty fees while traveling. The Ukash prepaid card is available online and does not require a credit check for approval. MasterCard gives users the option to check their balances and transaction histories online without charge.

“We recently researched the spending habits of UK holidaymakers and were horrified at the lack of knowledge about inflated transaction fees as well as the cost of withdrawing cash from ATMs,” said David Hunter, Chief Executive at Ukash.

Hunter said that 15% of British travelers wait until they arrive at their destination to buy currency, even though that is not a wise way to travel. “The Ukash Travel Money card is the simple and convenient way to make spending money go further, with guaranteed exchange rates and free ATM withdrawals.”

Similar cards are expected to launch in other parts of the world if this program proves successful.

“We are delighted to partner with Ukash to launch this prepaid card which provides the UK holidaymaker with better exchange rates and acceptance at ATMs across the globe, free of charge,” said Marion King, President UK & Ireland at MasterCard.

The information contained within this article was accurate as of July 1, 2014. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue