A MORE SECURE WAY TO SPEND ABROAD

Next week STA Travel, the budget and independent travel specialist, launches its first branded prepaid cash card, giving young people a safer and easier way to manage, control and spend their money abroad.
The STA Travel Cashcard, which has been set up in association with Tuxedo Money Solutions, enables travellers to hold up to £5,000 in a secure online “eccount” from where it can be safely moved onto the card by text, via the internet or by phone as and when it is required.

The card features chip and pin, giving complete security for internet use, everyday banking and as a worldwide travel card with access to 1.3 million ATM’s and 25 million merchants.  Up to £500 can be withdrawn from ATM’s daily and the card offers great value on exchange rates and foreign ATM charges.
All customers will receive a second card free (either for a second holder or in the event that one is lost) plus have access to the eccount enabling them to hold money securely 'off' the card.

Up to five cards can be placed under one eccount, meaning money can be transferred from card to card via a text, ideal for families or friends abroad.  It also gives parents the ability to credit their son or daughters card over the web from home, should they run out of money while they are away. This is a great benefit to young travellers, many of whom travel on a tight budget.

Customers applying for the card will receive a welcome letter, a paying in book, a user guide and a card personalised in their name, all priced at £9.95.   There are no purchase fees abroad and they are capped at £1.50 in the UK.  Cash withdrawls cost £1.50 in the UK and £2.25 abroad. 

Ian Swain, Product Director at STA Travel said:  “Prepaid cards are a safer alternative to cash and bank cards when travelling, and less hassle than using traveller’s cheques.   Using cards abroad can be expensive so we have worked with Tuxedo to ensure that we keep the fees as low as possible, making this not only a secure way to hold your money but also a cost effective way.”

Mark Simon, CEO of Tuxedo Money Solutions said: “From this week, UK students will be able to travel and spend anywhere in the world using their STA Travel Prepaid Card, confident that their funds are secure and can be topped up from home when necessary. STA Travel has built the world's largest travel company for students and young people and we are very proud they chose Tuxedo as their partner to provide the best possible prepaid travel product on the market.”

Notes to Editors:

What is a prepaid card?
A prepaid card works exactly like a credit card, except that money must be deposited on it first for it to have any credit in the account. The card will stop working once the balance is down to zero. The STA Travel prepaid MasterCard card is fully regulated, and is subject to KYC (Know Your Customer) which ensures that the applicant is over 18 and has a UK address.

More Information

About Tuxedo
www.tuxedomoney.com
Tuxedo Money Solutions is one of the UK’s leading prepaid debit card providers.
Its first prepaid proposition was the Blue Diamond Card launched in March 2007, the first ever all-in-one card package to be sold over the counter in local retail stores throughout the UK. Tuxedo also offers businesses the opportunity to produce co-branded prepaid cards of their own. Tuxedo’s strengths lie in the technology that underpins the operation of its cards and the flexibility of marketing solutions it offers to its partnering brands. Mark Simon joined Tuxedo as CEO in June 2007 to lead Tuxedo in to the next exciting phase of development.

About STA Travel
www.statravel.co.uk
STA Travel has over 25 years experience in student, budget and independent travel. They offer a unique range of flights, accommodation, adventures and expeditions in 90 countries. They send over 6 million passengers away each year and now have over 400 branches worldwide.

About Newcastle Building Society
The Tuxedo Card is issued by Newcastle Building Society pursuant to license by
MasterCard International Incorporated. Newcastle Building Society is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/) and is entered in the Financial Services Authority Register under registration No. 156058.

For press enquiries contact Tiggy Dean or Emma Hill at Hill & Dean PR on 020 8875 9923