- Holding multiple currencies in one app
- Splitting bills with friends
- Saving and setting travel savings goals
Not suited for
- Access via desktop (mobile only)
- Use as an everyday transaction account
|Product Name||Pelikin Prepaid Card|
|Supported Currencies||AUD, USD, GBP, CAD, NZD, EUR, IDR|
|Domestic ATM Fee||$0|
|Licensing||Partnered with an institution that holds a licence|
Pelikin is a technology company that plans to apply for a banking licence. Its first product is a pre-paid debit card and app designed to simplify travel for Australians. Pelikin has partnered with Tuxedo Money, which has an Australian Financial Services Licence, to provide the travel banking app and prepaid card. The Pelikin Visa Prepaid Card will be issued by Heritage Bank.
Through the Pelikin app, you can sign up for an account in less than a minute and track all of your transactions. Pelikin will send you instant spending alerts to help you keep on track and provide you with analytics about your spending. You're able to hold up to 5 currencies in your account which you can manage through the app: AUD, GBP, USD, EUR, NZD, IDR and CAD. The app also allows you to set savings goals that you can set with friends and attach to a goal. You can easily split bills with other Pelikin users within the app.
The Pelikin card is a Visa card and can be used anywhere Visa is accepted worldwide. Information about fees isn't confirmed but Pelikin has said there will be zero international fees. If you need to lock your card for any reason, you can do so immediately in the Pelikin app.
There are a number of features that will be available from Pelikin, including:
As of January 2019, Pelikin is not a bank but has plans to apply for a banking licence in the future. It has partnered with Tuxedo Money which holds an Australian Financial Services Licence. The Pelikin Visa Prepaid Card will be issued by Heritage Bank. Pelikin partnering with a licensed institution and having the card issued by a bank means your deposit up to $250,000 is protected under the Australian Government Guarantee Scheme.
In terms of security offered by Pelikin itself, you are able to lock and unlock your card from within the app should you need to. If you need assistance at any time you can access it 24/7 from within the app.
You can download the app from the App Store or Google Play and create an account for free. You must be an Australian resident, and you must be at least 18 years old.
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