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Best prepaid card alternatives in New Zealand

Last update: July 16, 2025

Contents

Need a better way to manage business expenses? These alternatives to prepaid cards are built for global teams and Kiwi SMEs.

Key takeaways

Prepaid cards require manual top-ups and may come with limits, making them less efficient for fast-moving businesses
Some prepaid cards may charge high foreign exchange fees and international transaction fees, reducing your profit margins
International debit cards let you spend directly from your business account
Debit cards with multi-currency support can help you avoid conversion costs by letting you spend from your existing currency balances
Choosing between prepaid and debit cards depends on your business needs–many companies benefit from using both

Prepaid cards can be a helpful tool for managing expenses, especially for small businesses or solopreneurs who want tight control over their spending. However, for businesses operating globally or at scale, these cards may come with limitations, such as the need to preload funds or manage multiple cards manually.

That’s where international debit cards can help. Linked directly to your business account, they offer a seamless way to pay suppliers, manage team expenses and transact in multiple currencies, without the operational friction.

In this guide, we explore the challenges with business prepaid cards and their alternatives.

What is a business prepaid card?

Business prepaid cards work similarly to general business debit cards with one major difference – these cards require you to preload the money onto the card.

Some banks, credit card companies and international payment providers offer business prepaid debit cards. They may have low or zero fees, along with other business-focused features.

Challenges of using prepaid cards

While using prepaid cards, businesses can face multiple challenges, including:

Constant need to preload the cards

Prepaid cards need to be loaded before they can be used and there is usually a maximum limit. Moreover, some providers don’t allow reloading cards at all, which turns these cards into a single-use tool rather than a reusable business expense solution.

For businesses, that means risking funding delays or overloading cards unnecessarily, which can in turn lock up the working capital.

Considerably high foreign exchange

The primary goal of prepaid cards is convenience and spending control, not savings on global payments. As a result, many prepaid card providers may add a high markup to foreign exchange rates and some may even charge a flat international transaction fee on top of that. These fees can quietly affect your profit margins, especially if your business regularly pays overseas suppliers, contractors, or platforms.

Limited spend controls and reconciliation features

Without integration with accounting systems or transaction categorisation, it can be hard to track spending across cards and tie them back to specific invoices or departments. Most prepaid cards also offer limited or no permission settings, approval flows, or budget caps for teams.

For businesses operating globally or scaling teams, this creates inefficiencies, compliance risks and unnecessary admin work.

Why consider international debit cards as prepaid card alternatives?

Unlike prepaid cards, which require manual top-ups and may come with hidden fees, debit cards are directly linked to business accounts. That means you can spend from your existing balances with no preloading required.

You can also opt for multi-currency debit cards linked to multi-currency accounts, which let you hold funds in different currencies. So when you make an international payment, the funds are drawn directly from the relevant currency balance, helping you avoid unnecessary conversions and save on transaction costs.

Key advantages of international debit cards:

Direct access to your business funds: Spend directly from your account in real-time. You don’t need to move money between wallets or load cards in advance
Team-wide card management: Easily issue cards to multiple team members and set custom spending limits, categories and access rules for each user
Real-time visibility: Monitor transactions instantly, categorise expenses and simplify reconciliation with built-in reporting tools
Reward programs: Many international debit cards offer cashback, perks, or discounts on business tools, travel and software
Optional multi-currency support: If your business trades globally, you can also opt for international debit cards linked to multi-currency accounts, which allow you to hold multiple currencies and spend directly from the existing balances
Greater control and transparency: You get access to tools for transaction tracking and reconciliation

Best business debit cards in New Zealand: A smart alternative to prepaid cards

1. World Card

The World Card is a multi-currency debit card that supports payments in 150+ currencies and is designed to simplify business spending across borders. Powered by Mastercard, the debit card is linked to your World Account, a multi-currency account that lets you hold and manage local balances in over 15 currencies.

Receive payments from clients worldwide into your local currency accounts, then spend directly from these balances with your World Card. When you make purchases in any of the 15 supported currencies using existing funds in your account, you pay zero foreign exchange fees. For transactions in other currencies, you’ll access competitive exchange rates to keep your costs low.

With the World Card, you control exactly how much money is available for spending, helping you manage budgets and avoid overspending. Plus, you can issue up to 20 cards at no extra cost for your team, each with customisable spending limits, making it easy to track and control business expenses.

Benefits of the World Card:

Add funds to your currency accounts or accept payments into your World Account in 15+ currencies
Pay in any of the 15 supported currencies using your existing balances with zero foreign exchange fees
Issue multiple cards to employees at no extra cost, each with custom spending limits
No signup fees or charges for receiving payments into your World Account
No fees for getting the World Card
Automated expense tracking and reconciliation
Earn 1% cashback on all international spend*

*Cashback promotions are subject to change at any time. *T&Cs apply

	World Card fees
Card	Free (up to 20)
Account linked to the card	Free
International transaction fees	15 major currencies (e.g. USD, GBP, EUR, CNH, AUD): Zero, as long as you have enough balance in that currency Other WorldFirst supported currencies: WorldFirst foreign exchange rate applies WorldFirst For unsupported currencies: Mastercard exchange rate + WorldFirst margin of up to 1.5% (for Mastercard’s exchange rates, refer to their currency conversion calculator)

2. Wise Business card

The Wise Business card is also a multi-currency debit card that helps businesses make payments in multiple currencies. Linked to the Wise Business Account, the Mastercard-powered card supports online and in-store transactions in 40+ currencies.¹

Wise business users can fund their account (with a 2% funding fee)² and then use the debit card to make purchases directly from their available currency balances.

When spending from a currency you already hold funds in, you avoid foreign exchange fees. If a currency conversion is needed, Wise applies a conversion fee starting from 0.23%.²

Each Wise Business account includes one physical card and up to three virtual cards.³ To access more cards, you’ll have to remove and replace an existing virtual card.

Pros and cons of the Wise Business card

Pros	Cons
Supports payments in 40+ currencies¹ Ability to spend from multi-currency funds¹ Physical and virtual cards are available¹	While the card is free, the Wise Business account has a one-time fee of NZD 40 ¹² Only three virtual cards are allowed at a time³ No cashback offers available

	Wise Business Card²
Card	Free
Account linked to the card	NZD 40 one-time fee
International transaction fees	If you have available funds in the same currency: Zero If you don’t have sufficient funds in the same currency: Currency conversion fee starting at 0.23%

3. Airwallex Borderless card

The Airwallex Borderless Card is another multi-currency debit card available that lets businesses make payments in multiple currencies anywhere Visa is accepted.⁴ It’s linked to the Airwallex business account.

You can accept payments into your Airwallex account in multiple currencies and use those funds to preload the card. For payments made in any of the 10 supported currencies (like USD, EUR, GBP, AUD and more), you pay no foreign exchange fees, as long as you have a sufficient balance in that currency.⁶ For all other currencies, Airwallex applies a conversion fee starting from 0.5%.⁵

The number of cards you can issue depends on your Airwallex pricing plan. Each card has individual spending controls, giving you full oversight over employee and business expenses, although expense tracking is only available on higher priced plans.⁵

Pros	Cons
Spend from multi-currency funds No foreign exchange fees on 10 supported currencies⁶ Company and employee cards are available⁷	The number of cards available per account depends on the pricing plan you choose⁵ No cashback offers available

Airwallex Borderless Card⁵

Card

Free

Account linked to the card

Zero–499 per month

International transaction fees

0.5% for USD, HKD, CNY, AUD, EUR, GBP, CAD, SGD, CHF, NZD, JPY, 1% for all other currencies

No charges if you have an existing balance in the purchase currency
In case of insufficient funds, the base currency funds are used to make the transaction and a currency conversion fee is charged⁶

4. Payoneer card

Payoneer also offers a Mastercard-powered business card that lets you spend from specific currency balances in your Payoneer account.⁸ Each card is linked to a single currency: USD, EUR, GBP, or CAD. This means that for businesses operating in multiple markets, you’ll need a separate card for each supported currency.⁹

Funds must be preloaded into your Payoneer account, either by receiving client payments, payouts from marketplaces, or bank transfers. Payoneer users can only apply for the card if they have received a minimum payment of USD 100 in the last 6 months.¹¹

An annual fee of USD 29.95 applies for the first card; additional cards are free.¹⁰

Payoneer offers cashback on eligible card spend to selected customers.^{8 12}

Check our detailed Payoneer review to learn more about this business account.

Pros	Cons
Each card is tied to one currency⁹ Physical and virtual cards available⁸ No fee for registering for a Payoneer account¹⁰	Annual fee of USD 29.95 for the first card; additional cards are free¹⁰ You’ll need multiple cards if you want to make payments in multiple currencies and save on currency conversion fees

	Payoneer card¹⁰
Card	USD 29.95 per year for the first card; additional cards are free
Account linked to the card	Free
International transaction fees	Same-currency transfers have zero foreign exchange fees For currency conversions, Payoneer charges up to 3.5%¹³

Card	Multi-currency support	International transaction fees	Free card	Account cost	Employee/additional cards	Cashback	Expense tracking
World Card	Yes	✅ Zero if paying in a supported currency with sufficient funds Up to 1.5% if conversion is required	✅ Yes	✅ Free	✅ Up to 20 virtual cards	✅ 1% on international spend* T&C apply	✅ Yes
Wise Business	Yes	Zero if you have available funds in the same currency Otherwise, the currency conversion fee starts at 0.23%²	✅ Yes	❌ NZD 40 one-time²	❌ Max 3 virtual cards; one physical³	❌ No	❌ No
Airwallex	Yes	0.5% for major foreign currencies 1% for others⁵	✅ Yes	❌ Zero to –NZD 499/month	🔄 Depends on plan	❌ No	🔄 On higher plans
Payoneer	No; one currency per card	Up to 3.5%¹³	❌ USD 29.95 for first card¹⁰	✅ Free	✅ One per currency⁹	✅Offers cashback on some cards⁸	❌ No

Find the right card for your Kiwi business

Prepaid business cards serve a clear purpose. They’re easy to issue, provide upfront spend limits and can help with budgeting. But for growing businesses, especially those making frequent international payments or managing larger teams, international debit cards offer more flexibility and real-time control.

By connecting directly to your business account and enabling multi-currency spending, they simplify global transactions while helping you stay on top of expenses.

1. https://wise.com/nz/business/card
2. https://wise.com/nz/pricing/business
3. https://wise.com/help/articles/2935762/how-do-i-order-a-wise-card
4. https://www.airwallex.com/nz/business-account/cards
5. https://www.airwallex.com/nz/pricing
6. https://help.airwallex.com/hc/en-gb/articles/900003301566-What-is-the-automatic-conversions-for-cards
7. https://help.airwallex.com/hc/en-gb/articles/4970990380943-How-do-I-choose-between-a-Company-Card-or-Employee-Card
8. https://www.payoneer.com/commercial-card/
9. https://payoneer.custhelp.com/app/answers/detail/a_id/18226/~/account-with-card—faq
10. https://www.payoneer.com/about/pricing/
11. https://payoneer.custhelp.com/app/answers/detail_iFrame/a_id/33988/c/3774
12. https://payoneer.custhelp.com/app/answers/detail/a_id/44889/~/the-payoneer-global-cashback-card-plan-%E2%80%93-faq
13. https://payoneer.custhelp.com/app/answers/detail/a_id/6118/~/what-is-the-currency-conversion

Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.

Based in Sydney, Jim is responsible for the WorldFirst business across Australia and New Zealand. He brings with him over 25 years of experience helping Business Owners, CFO’s and Treasury Managers overcome the challenges with cross border payments and navigating volatile foreign exchange markets.

Jim Vrondas

Author

Country Manager ANZ at WorldFirst

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Best prepaid card alternatives in New Zealand

What is a business prepaid card?

Challenges of using prepaid cards

Constant need to preload the cards

Considerably high foreign exchange

Limited spend controls and reconciliation features

Why consider international debit cards as prepaid card alternatives?

Best business debit cards in New Zealand: A smart alternative to prepaid cards

1. World Card

2. Wise Business card

3. Airwallex Borderless card

4. Payoneer card

Find the right card for your Kiwi business

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