Tuesday, 27 August 2013

Currency Cards - A safer way to carry money abroad

Currency cards are becoming more and more popular with tourists travelling across the globe. They offer a safe and secure way of carrying lots of money and can be replaced if lost or stolen. A prepaid card can be topped up easily online or via SMS and unlike paying with credit or debit card you can only spend the money you have and not dip into an overdraft (authorised or unauthorised!!)

Travellers visiting areas notorious with pickpockets, don't want to carry large amounts of cash in their wallets. All prepaid currency cards use chip and pin security and if your card is stolen your money will be replaced. 

What currencies are available on a prepaid card?
The main currencies available are:

£ British Pounds
€ Euros
$ US Dollars
$ Australian Dollars
$ New Zealand Dollars
$ Canadian Dollars
Swiss Francs
South African Rand
The Post Office


Fair FX

Caxton FX


Benefits of using a prepaid card
  • Unlike travellers cheques, a prepaid card will fit conveniently into your wallet and does not require additional identification for use, allowing you to keep your passport safe and not on your person.
  • Secure - Chip and pin security gives you peace of mind that should your card become lost or stolen it cannot be used easily.
  • Fast replacement - If your card is lost or stolen
  • Competitive exchange rates - Most providers are currently offering better exchange rates for prepaid card customers than rates available for travel cash.
  • Budgeting - No overspending. You can only spend the funds you have on the card.
  • Easy to top up. Prepaid cards can be topped up online by you or a family member or friend giving you access to additional funds quickly when you need it.
Travelling to a country with a currency not on the list above?
If you are travelling to a country which does not use one of the currencies available on a currency card you can load a card with British pounds. Your money will be converted into the local currency each time you make a withdraw.  This method enables you to still benefit from the safety aspects of using a prepaid card but the downside is that you will have little control over the exchange rate you will receive. 

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