Payment Card News

TravelFunds Card

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American Express has gone from charge cards to credit cards, and is now setting its sights on the prepaid card market. The issuer has introduced a reloadable travel card. The new “TravelFunds Card” can be used at both the POS and ATM. The card is available in U.S. Dollar, Euro and British Pound Sterling, enabling cardholders to lock in exchange rates. The is an issuance fee and a reload fee. The initial load amount must be at least $300, up to a maximum of $2750 or US Dollar equivalent. A minimum reload amount of $100 applies. AmEx will provide refunds on a 24-hour basis if the card is ever lost or stolen. AmEx says the card will also protect users against identity theft. AmEx also offers users free passport and credit card replacement services. The issuer says it is working with its partners, namely, Continental, Delta, Starwood, Alamo, and National Car Rental, to distribute the card. The “TravelFunds Card” can be purchased over the phone or online. AmEx’s other prepaid products include “Cheques for Two,” “Gift Cards,” “Gift Cheques,” the “Be My Guest” dining card, as well as a range of corporate incentive prepaid products through American Express Incentive Services. For more information visit: www.americanexpress.com/travelfundscard.

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