WeSwap | Prepaid MasterCard®

2553 reviews

Monthly fee: Free

Card fee: Free

WeSwap | Prepaid MasterCard® customer reviews.

2553 reviews

4.6 out of 5 stars

Very Poor Service
14:28 21-05-2018
ImageSmart Money People

Very poor service. Wont send you a replacement abroad if machine eats it. And they charge you to transfer balance back to your bank account. Dont use them

Matthew

Best currency exchange
11:27 28-04-2018
ImageSmart Money People

WeSwap's peer-to-peer currency exchange offers a convenient way to exchange currencies with peers, they're app is easy to use and give significantly better rates than any other banks.

Ben Davison

Excellent rates, excellent service
10:46 20-02-2018
ImageSmart Money People

It's so easy to use, the rates are always the best or near to the best - If I need to exchange money instantly, I can, and if I can wait I get an even better rate. Internet and telephone support are excellent

Glyn Radcliffe-Brine

Simple, efficient and versitile
10:03 20-02-2018
ImageSmart Money People

Have been impressed by just how simple WeSwap is to use and how effective it can be. Would recommend it to any traveller.

JF

Best way to access foreign currency that I have used
09:54 20-02-2018
ImageSmart Money People

Used my WeSwap prepaid MasterCard for trips to Australia and various countries across Europe and it worked well for withdrawals of cash from ATMs without incurring charges. We also used the WeSwap card to pay directly at restaurants/bars, for train tickets, shopping etc. The exchange rates are always competitive and the WeSwap app is easy to use both at home and whilst away on holiday, which allows you to load, swap and monitor account transactions & balance. Great product so recommended to my friends & family.

Andy Moth

One stop shop
09:35 20-02-2018
ImageSmart Money People

Use it everywhere, wouldn’t travel without it...

Tombooo

Happy money
13:56 19-02-2018
ImageSmart Money People

Easy to use, no hassle, just load and go.

Graham Morgan

Best for rates & convenience.
13:09 18-02-2018
ImageSmart Money People

Was a bit wary at first because Weswap was in it's infancy but used the card for a holiday of a lifetime in Australia 2 years ago. Accepted anywhere you can use a credit card so great for convenience & cash withdrawals from any hole in the wall. Have already recommended it to many people.

Craig Harley

Works exactly as promised
22:26 16-02-2018
ImageSmart Money People

Used for the first time in Australia and took no cash, only the card. It worked wherever we went either in an ATM or as a credit card. Couldn't be more convenient

John Dunmall

Fantastic
11:59 15-02-2018
ImageSmart Money People

Best and easiest travel money experience

James Biz

Our review of WeSwap | Prepaid MasterCard®

WeSwap is a novelty within the prepaid credit card market – in a way it’s crowd funded as it switches the currency you’ve topped up with the one you’ve requested – which has come another user’s deposit. WeSwap do it in this way in order to get their customers fair rates. There is no monthly fee for the card, however there are commission fees charged for the initial currency swap and then for withdrawing cash – this will vary depending on what currency you are spending in, but for the UK it works out as £1.50 if you take out less than £200.

Customers can control their WeSwap prepaid credit card by either logging into their dashboard on the website, or by downloading the app to their mobile. They can set up a profile which will act as a central hub to view balances, swap currencies, load their card or swap back to Sterling if they’ve not used the remainder of their funds.

A quick search of the web for WeSwap reviews shows that they have a rating of ‘great’ from TrustPilot users – these reviews are also displayed on the WeSwap website. Customers are particularly happy with the customer support, ease of use and that they felt that their money was safe during each transaction.

Overall verdict: A good concept in theory which appears to be working for people if you take the positive reviews into account. Quick and easy with minimal fees and good control, WeSwap is a great prepaid card if you’re going travelling and need to switch currencies.

Written by: Alex

Highlights

  • Swap currency with other WeSwap users
  • Accepted where the MasterCard logo is displayed
  • 18 currencies
  • The card will switch to the local currency automatically
  • No charge for swapping back to Sterling

Minimum criteria

  • You must be aged over 18
  • You will need to be a UK resident or of one of the other 9 countries accepted (see website for details)

Fees

  • Maximum APR %
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About WeSwap | Prepaid MasterCard®

The WeSwap prepaid credit card works by swapping currencies between users. To load the card you would load it with Sterling using your debit card or via bank transfer, then select the currency you need and WeSwap deal with the exchange of the money to ensure that the money is swapped fairly and at a good rate. Your WeSwap MasterCard is then topped up with the currency that you requested and is accepted worldwide wherever the MasterCard logo is displayed.

There is no fee for the WeSwap card but you will have to pay a fee every time that you swap to another currency when you have made a new deposit. This varies depending on how long it’s been since you loaded the card – if you do it the same day then you will have to pay 2.0% of the amount, if it’s after three days it goes down to 1.3% and if it’s after one week then it decreases further to 1%. You will also have to pay a fee for withdrawals under the equivalent of £200, which is around £1.50. The fee will change depending on where you are doing the activity as the fees are charged in the currency local to where you are using the card.

Loading the WeSwap card is done by logging in to the website and accessing the dashboard where your travel wallet will appear. By transferring money using either debit card or bank transfer you can then choose which currency you want to switch to and then follow the prompts on the website. WeSwap will send an email once they have received the transfer which can sometimes take a couple of hours depending on your bank or building society.

Company information

Registration number: 07189664

www.weswap.com

02030536610

6 Spectrum House, 32-34 Gordon House Road, London, NW5 1LP

FCA registration

Reference No: 453514

Trading names: IDT Financial Services Limited, WeSwap

Place of business: 57-63 Line Wall Road, Gibraltar

Data protection registration

Registration No: Z3012766

Data controller: WESWAP.COM LIMITED

Address: 57-63 Line Wall Road, Gibraltar

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