We were given the opportunity to try out the new X-Change Cards from Burgan Bank. Basically they are pre-paid Mastercards but the money in the card is in a specific currency.
What does that mean?
Simply, if you choose to get a US Prepaid X-Change Card it will be pre-filled with a specific amount you choose, e.g. 100 USD, and that amount will remain as 100 USD no matter how much the USD goes up or down, i.e. it will stay as the same amount as you initially put in.
First of all, the Currencies:
The X-Change Card is available in a number of Currencies including:
- US Dollar
- British Pound
- Egyptian Pound
- UAE Dirham
- Saudi Riyal
- Philippine Peso
Where can you use it?
You can use it anywhere that has the MasterCard Logo – its a full mastercard card, you can also use it to withdraw the Cash amount that you prefilled in the first place. Could be great to use if you plan to go on a shopping bonanza in Dubai, refill it with ‘X’ amount and leave all you other credit cards at the hotel as to know if you exceeded your limit or not. That’s where it can sometimes be better than the normal credit card, you won’t spend what you don’t have 😉
Another great advantage of this card is for parents who would like to be able to simply put money in the accounts of their children studying abroad, or for expats to be able to easily send money back home without the hassle of going to a money exchange or Western Union Outlet, you can simply login and put money in the account via knet. (only difficulty is actually sending the card over – has to be done before).
I tried it on Amazon and it worked fine! Took me quite some time to find something that I would buy hehe.
How to Get one?
Visit : https://cards.burgan.com/xchange
Click on “Order a Card”
You’ll have to enter the following details :
Prices of the X-Change Card
- KD 10 for the X-Change Card currencies in US Dollar, GB Pound, and the Euro – valid for three years
- KD 5 for the X-Change Card currencies in Saudi Riyal, Emirati Dirham, Egyptian Pound and Philippine Peso – valid for three years
Funds would be added in the exchange rate of that day. I did a comparison between Burgan, and Google and it turned out to be relatively fair as shown here:
When you come to pay there will be an additional 1 KD refill charge fee.
THATS NOT ALL!
With Burgan’s X-Change Card you also get a free Premium Subscription from MyUS, one of the leading and more professional mailbox forwarders which give you a US address saving you around 127 USD.
Their Website is accessible through : http://myus.com/burgan
To check, I was successfully able to join and I placed my first order through myUs.com using amazon and a Burgan USD X-Change card!