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Multi-Currency Cash Passport - how it works

13 Mar 2017

With cash machines prevalent throughout Europe and the rest of the world, why-oh-why do I need another card?

Well, firstly let’s look at it from a security point of view. 

Its Chip & PIN protected and there’s no link to your personal bank account from the Multi-Currency Cash Passport (MCCP), so it’s a really secure way of taking your money abroad. 

If your cash is stolen, it’s not coming back, however, if you have a Multi-Currency Cash Passport, a 24/7 Card Services team (operated 365 days a year) can arrange for either a replacement card or make available emergency cash , up to the available balance on the card at the time it was lost or stolen. 

If your bank card is stolen, the thief in question could potentially gain access to all the funds in your personal bank account. If you use the MCCP, the card is loaded with an amount, likely substantially less than is in your bank account.

So that’s the value of an MCCP from a security stand point, but what else?

Credit Card vs MCCP

Credit Cards often incur charges when used abroad. Foreign exchange rates are applied and fees added. The MCCP ‘Locks in’ the exchange rate when you load, reload and move money between currencies, meaning that regardless of whether the exchange rate moves up or down that day, you will always know the exact amount of foreign currency you have available and its value

So, now you know that the MCCP is safe, you can benefit from a replacement card or emergency cash if your MCCP is lost or stolen, and the rates are constant - let’s get into the nitty-gritty.

What does the card do?

The Multi-Currency Cash Passport can be ‘loaded’ with up to 10 different currencies at one time. That means that you can take New Zealand Dollars, United Arab Emirate Dirhams and Euros, among others*, all in one card, so if you’re the jet-setting type, the hassle of jumping between currencies is no longer a frustration, neither is adding-up your loose coinage and feeling obliged to spend it at the airport. Instead, you can keep your card for the next trip.

The card is free. You just need to be over the age of 18, a UK resident and load a minimum of £50 or the equivalent. Visit us in one or our 141 eurochange branches (and counting) across the UK with your valid photo ID, and fill-in the application form. 

You can load and re-load your card as and when you like – even while abroad (subject to card limits, see Terms and Conditions). To ‘Top-Up’; simply visit the MasterCard - MCCP page for options.


When paying while abroad, you may be given the option of paying in Pounds Sterling – we recommend choosing to pay in the local currency of the country you are visiting to avoid extra foreign exchange conversion charges. 

Do not use this card for reserving cars, hotel rooms etc. as there can be a delay in the deposit amount being made available after the deposit is refunded  and there’s a possibility the merchant may miscalculate your bill. You can, of course us e your MCCP to settle the final bill. 

*Currencies available: Euro, US Dollar, Australian Dollar, Canadian Dollar, Turkish Lira, EAE Dirhams, Great British Pounds, New Zealand Dollars, South African Rand and Swiss Francs.

Multi-Currency Cash Passport – the secure and cost-effective alternative to taking bank cards and cash abroad . 

Multi-currency Cash Passport™ is issued by R. Raphael & Sons plc, pursuant to license by Mastercard International Incorporated. Mastercard® and the Mastercard Brand Mark are registered trademarks of Mastercard International Inc. Raphaels Bank is a UK Bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registration number 161302) and is permitted to issue e-money. Head office and registered office at 19-21 Shaftesbury Ave, London W1D 7ED, company registration number 01288938.
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