DTB Kenya Multi-Currency Prepaid Card review

There is a standing monthly fee of KES 500 to KES 600 for holding the card, and that is the main fixed cost of keeping it open. That runs the other way from Monzo Flex, Wise and Bitpanda, which charge £0, £0 and €0. A traveller who converts only a few times may still find it worthwhile.

Conversion is charged at 7%, against a site median of 1% and an upper quartile of 2.2%. On this measure the card ranks 235 of 237. Because the charge applies on conversion, holding a balance in the currency you spend avoids it.

The free ATM allowance is KES 0, so cash machine withdrawals are not part of what the card covers. It is built for payments and travel, where the conversion fee of 7% is the cost that matters. Anyone who regularly needs cash should weigh that before applying.

It is a prepaid card on the mastercard network, issued by Diamond Trust Bank Kenya Limited. Because it is prepaid, the balance held is the balance that can be spent, which suits travel on a set budget. The bank behind it was founded in 1946.

The card holds 16 currencies on a single balance, and it is aimed at multi-currency travel use. That suits a trip crossing several currencies without opening an account per country. Any amount converted rather than held costs 7%.

It suits adults in Kenya who travel and want a single card covering several currencies, particularly if they already bank with Diamond Trust Bank Kenya Limited. It suits them less if they want a card with no monthly charge, because KES 500 to KES 600 is due every month regardless of use.

Support runs on phone, email and help centre, which covers phone, email, chat and a help centre. Phone and chat handle most day to day questions, and the help centre takes account questions. That matters most when the card is being used abroad and a payment is declined.

The card is issued by Diamond Trust Bank Kenya Limited and is built for adults in Kenya, with the bank headquartered in Kenya. It gathers 16 currencies onto a single prepaid card, so travel money sits in one place rather than in several accounts.