CaxtonFX travel money card cheaper than using debit card
CaxtonFX travel money card now works out cheaper to use abroad then when using a debit card attached to your bank account. Travel money cards were introduced by foreign exchange providers due to the growing complaints from consumers. As foreign exchange companies can offer very competitive exchange rates which in nearly all cases beat the exchange rate you would get from your high street bank they decided to introduce travel money cards to cater for consumers, who are now able to gain the a competitive travel money exchange rate.
Why are travel money cards cheaper?
As foreign exchange companies buy currency in volume they are able to secure a competitive exchange rate for consumers. the rate can work out between 3% to 7% better than conventional ways such as high street banks, at airports, travellers cheques and bureau de change. As most of the back service is automated there is no need to have a large work force which enables the foreign exchange companies to keep costs to a minimum and pass the savings over to consumers.
Who offers the best exchange rate?
With so many ways travel money cards available there are several factors to take in to consideration, as all are offering a better currency exchange rate to conventional methods it is more about any additional charges when using your card. CaxtonFX are a clear winner in this sector making it totally free to use when abroad. If you get a CaxtonFX euro card and preload your currency on to the card then when you use the card in euros there are no transaction charges or ATM charges when paying or withdrawing euros.
This can save you a considerable amount as compared to a normal VISA debit card say a Natwest debit card it would cost you £1.50 when using your Natwest debit card to pay at point of sale. The cost is higher when using a ATM abroad where it would cost you 2% (minimum of £2.00 to a maximum of £5.00) when using an ATM.
With currency exchange rates hitting an all time low now is the time to start looking at getting the most for your money but also with added factors such as no charges to use your cards. With a range of travel money cards available choose one to suit your needs including free travel money cards available