The other day my friend who is the sales manager for a multinational was cribbing how she is practically living off a suitcase. The amount of international travel she does, we have nick-named her as Miss Globetrotter. While we all envy her for the countries and cultures she has visited, she continues to struggle with her finances when on foreign travels. I thus dedicate this article to her, and the likes, offering her the solution travel money cards also known as prepaid credit cards
These are fairly new entrants in the market of plastic money and foreign exchange. Travel money cards let you put an amount of a given currency on the card. The exchange rates are pre-decided. And as you travel you can continue to spend until the amount you initially had is exhausted.
There are ample numbers of service providers which can be easily found through the internet. They also accept online application. You can easily transfer funds usually through the internet, but now also SMS services are offered by some providers.
As of now, it is typically the pound, euro, and U.S. dollar which can be uploaded in your currency cards. These will then be converted into whichever country you go into.
Roam Around The World With Travel Money Card
Travel money cards prove to be more beneficial than conventional credit cards when roving. The exchange rate in case of travel money cards will go easy on your pockets.
And as it is a pre-paid system, and also the exchange rate is known, so you can accurately calculate your expenses. A credit card or a debit card will use the exchange rate of the moment when transaction took place. This can fluctuate even within a single day. So when you swiped in the morning, a different rate applied, while in the afternoon when you swiped again the exchange rates had shot up. Thus there is no certainty with which you can calculate your expenditure even if you want to keep yourself in check. A credit card can thus surprise you with a staggering debt bill to be paid next month.
Besides, your credit card will charge you a fee typically 2-3% on the transaction money. But in the case of Travel money cards, there is no fee at all.
Also if you want to withdraw cash from ATMs using your money card, the fee charged is much less in comparison to the fee when you use your credit or debit card to do so.
Thus all the travellers, especially my friend Miss Globetrotter, do not forget to carry the Travel money card the next time you get going!
A New comparison table of Worldwide prepaid cards that are available by country, Looking for a prepaid card? Make things easy visit Compare Prepaid. All prepaid card tables are based on applicants that are a permanent resident or citizen of that country. By clicking on the various tables you need to ensure the following -
Best basic bank
Free Travel money card's just
International money transfer providers
Copyright 2016 :: Compare Money Transfer Limited :: All Rights Reserved