I’m not aware of this specific plan, but most of the “put cash up front on some sort of card” plans involve you paying a fee or commission, or at least losing any potential interest you might earn, for using your own money.  Having your money in your bank account and using your ATM card usually works out better, but you’ll have to compare the fees your bank charges and how exchange rates are figured to know for sure.

There is a traveler’s check card.  Its like a debit card with the security of traveler’s checks- preloaded and you get your money back if its lost/stolen.  You can withdraw from an ATM or use anywhere that accepts credit cards.  Two of my friends got them from their local bank.  Problem is the ones they got were by American Express, which isn’t very popular throughout europe.  They had a lot of problems finding atms that worked with AmEx.  Also, I think they got a commission charge for each withdraw.  I think ATM or debit cards are the best way to go.  A lot of them have a fruad/theft replacement type thing for that situation, and they are more widely accepted (depending on the card network, most are Visa which is accepted almost everywhere).  Keep the number to cancel in case its lost or stolen. 
 
As far as euro vs $, its all currency that is defined or credited by exchange rates.  Basically if you have 100 dollars worth of credit on your card, you have about 77 euro worth of credit, and if you’re in England you have about 50 BG pounds worth, etc.  In the euro countries the atm will give you euro, pounds in england, etc. 

hey thanks for your replys,
ive found out what it is and its available to aussies through travelex if anyone else is interested.
you can put any currency onto it so for me that makes it easier to keep track of my money as in i wont have to keep converting.
thanks again guys