Best Value Travel Money Card – The FairFX Anywhere Card
Travel money cards are still quite new, but they’re rapidly growing in popularity. So what are they, why have they appeared, why are they generally better than regular credit or debit cards and what’s the best value travel money card out there?
Travel money in the past – travellers cheques and bank cards
Until fairly recently if you were going abroad, most people ordered travellers cheques. Travellers cheques were what many people used without question when they were on holiday – until banks made it easier to withdraw cash from foreign ATMs.
And thanks to the internet and money saving expert type websites, the general public have become more aware of the significant differences in charges that different banks levy on cardholders.
However, one of the reasons that many banks charge high ATM and exchange rate fees is that they have high overheads. For example, most banks have lots of high street based branches which all cost a lot of money to maintain.
The new technology travel money breakthrough
Within the last couple of years technology has developed significantly. Internet usage and broadband availability has shot through the roof. This meant that for the first time ever, many people were willing to manage their finances online.
This sudden increase in the general public willing to conduct many tasks online opened up a market that was previously unavailable to most businesses apart from banks.
One of the first travel money cards – FairFX
Suddenly there was an opportunity to shake up the travel money marketplace and quick-thinking online currency specialists FairFX.com jumped right in and gave the public exactly what it needed – a great value travel money card.
To begin with FairFX released 2 travel money cards – one in US dollars and the other in euros. Those cards charged roughly 1% on exchange rates, had no purchase fees and ATM fees were very low at just $2 or €1.
The way that the FairFX euro and dollar card work is that when you load the card you lock-in whatever currency exchange rate you get at the time of loading. Sometimes you win, sometimes you lose. These cards are still available today.
Some people don’t like to bet with their travel money
However, some people don’t like to bet with their travel money. They prefer to accept a dynamic exchange rate at the time of the transaction rather than take their chances with buying their travel money before hand.
Also, a lot of people couldn’t grasp that it was actually generally cheaper for them to use their FairFX dollar card in Europe rather than their regular bank card. A simpler card was required – a travel money card that was much cheaper than most bank cards and could be used anywhere around the world.
Step up the FairFX Anywhere Card
FairFX decided that too many people were still not getting it – too many people were still getting ripped off by high charges for using their bank card when abroad.
They decided that people needed a card which they could use anywhere – anywhere in the world without fear of being charged an arm and a leg. Step up the FairFX Anywhere Card.
So how much does it cost to use the FairFX Anywhere Card?
The FairFX Anywhere Card has ZERO loading fees, ZERO ATM fees and ZERO exchange rate fees. The only charge is a 1.5% transaction fee, making it according to our research the cheapest travel money card available to UK residents.
At the time of writing the card is free to order as well – all you have to do is make a minimum initial load of just £10. However, there may be a card purchase fee in the future, so it’s probably best to order your card now while it’s completely free.
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