What is a Travel Money Card?
Travel money cards are preloaded with foreign currency before you travel so you know how much you have to spend abroad. You set the budget and the rules! The cards also usually offer ‘no transaction charges’ when using the same currency and in some cases travel money cards offer no ATM fees. The key difference between the travel cards and other prepaid cards are that you can obtain better currency exchange rates. This means more for your money in general, making them a better option than traveller’s cheques or travel money.
As mentioned above, the main advantage in getting a travel money card is that you can secure better exchange rates. On average 8% better than exchanging currency at Airports, 4% better currency than Traveller’s Cheques and 5% better currency than Bureau De Change.
When travelling abroad everybody wants to secure cash. Using prepaid travel cards is a feasible option and helps travel without the need of carrying cash. By using travel currency cards or prepaid travel cards you can control spending and also keep an eye on the overall amount you spent by checking your balance with SMS. It is the ideal way to put your mind at ease about how much you are spending, leaving you free to enjoy yourself.
Prepaid travel currency cards are also a more convenient and safer option than using cash. From a single prepaid travel card you can shop in more than 28 millions retail stores and above 1.5 ATM machine all over the world where ever you see a Visa or MasterCard Sign. In addition, when using a travel currency card you get the best travel currency rates as you pre buy and preload your travel money in advance. By securing your travel currency exchange rate in advance you will get between 5 to 8% better conversion rates on your holiday money exchange. It makes so much financial sense when travelling abroad.
Travel money cards – What are my options ?
Due to high demand of the prepaid travel money cards among travellers, a wide variety of cards are available with various features and all at affordable rates. Some of the cards are: Prepaid visa cards such as Virgin visa travel money cards and Travelex cash passport cards. Or you could choose a prepaid travel MasterCard such as Caxtonfx, My Travel Cash or even the increasingly popular Fairfx travel money cards. Below is a clear list of how these cards work as well as the key benefits:
FairFX is just like a normal credit card and can be used wherever pre paid cards are accepted. The only difference with the FairFX anywhere card is that you have to load the card with cash prior to shopping, instead of paying the bills later. It reduces the tension of bills and interests added on them. You can pay in Dollars and Euros with this card.
ICE Prepaid Cards
The ICE Prepaid Travel Money MasterCard has a foreign exchange card limit of $4,500.00 / €3,000.00 depending upon the money card and the prepaid card is available in US Dollars and Euros.
Virgin Travel Money Cards
This Virgin prepaid travel money card is a visa branded card and can be used in almost 160 countries. It is widely acknowledged by more than 24 million retail stores all over the world. The Virgin Visa prepaid travel money card provides the security of the traveller’s cheque in addition to the convenience of plastic, making it a more suitable and safer alternative to carrying cash.
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