Travel money cards, FX currency cards and foreign currency cards are all descriptions of the easiest way of spending money while being abroad. Travel money cards work exactly like normal credit or debit cards, but at much better exchange rates than any bank or bureau de change will offer. They also have the advantage that the very high charges which apply when using a credit card abroad will be avoided. When buying a travel card, foreign exchange is bought at the present exchange rate and thus one has not to be afraid of any unpleasant surprises at the end of the month. No matter if one travels for business or pleasure – travel money cards help to save money and are convenient and safe to use.
Spending money with a travel money card works as with a prepaid card, as one has to first load the card with money before one can start spending. Travel money cards are ideal not only because you will get the best rates on the market but because they come with chip and pin and thus are secure, and the money is protected. In the event of the card being stolen or lost, any used money will be transferred onto a replacement card. In the case of not having used up the money on the card while abroad, there is the choice of either reusing the card or having one’s money redeemed. Using a travel money card is a perfect way to avoid spending more money than planned by loading it with the exact travel budget. Travel Money Cards are available to anyone, as no credit checks will be carried out.
If you are planning on going abroad in the near future, whether it’s for personal reasons or a business trip, then a travel money card ought to be considered. A travel money card is essentially another service in which you are exchanging your money into a foreign currency in time for your trip abroad. Many people forget that when you are in a foreign country the cost of using your usual credit or debit card will add up due to cash machine charges and withdrawals. However with a travel money cards you can avoid these extra costs while benefitting from a more competitive exchange rate. If you are planning on exchanging your money at a bureau de change it is important to note that the exchange rates involved in this process are poor, therefore a travel money card can benefit you.
Funds are put onto your travel money card through a ‘top-up’ service, either completed online or via the telephone, where your money is then available in the appropriate currency. A travel money card provides more financial security than simply exchanging a lump sum of money at the airport. It is entirely possible that while you are on holiday your wallet is lost or stolen however with a travel money card the process involved in cancelling the card is quick and simple and the travel money card company will provide you with a replacement and ensure your finds are returned so you are not losing any money. With travel money card you can enjoy a safer and more economical trip abroad.
Travel money companies offer services where you can buy foreign currency in advance so that you are prepared for when you are abroad, whether it’s for holiday or business purposes. Most people when travelling abroad assume that the easiest method of buying foreign currency is by changing cash at the airport or through a bureau de change. However the commission fees involved in these processes are often high and the exchange rate usually poor so you won’t be getting the best deal for your money. Before you go abroad it is important to be prepared in terms of money, as in making sure that you have some cash in hand and in the relevant currency, as you don’t want to get into the situation where cards aren’t accepted and you don’t have the appropriate currency. Nowadays debit or credit cards are usually accepted in most places however the price of using your credit card while abroad can be costly. A pre-paid currency card is an addition to travel money methods and is a useful alternative to credit cards which often incur a charge. Pre-paid cards are useful for making purchases and withdrawing money when you are abroad.
Before you go away getting the cash you need, in the right currency, can be a quick and easy process. Travel money can be purchased via the internet offering a hassle free and cost effective service. When ordering foreign money online you not only save money overall, but avoid queuing and making unnecessary journeys to exchange your money adding more stress before your trip away. There are various travel money companies of which most will provide a delivery service if you are not able to collect the money yourself. A courier will usually deliver the money to where you specify, either your home or office and once you have placed your order you can sometimes receive the money the next day. The ways of collecting your travel money are flexible making sure you have options such as the option of collecting your currency at a local branch and some travel money companies may have a branch at the airport so just before you leave you can simply pick up your cash.
It is essential that when looking into travel money and pre-paid cards you understand the commission and exchange rates involved. Fortunately commission rates are avoided with most travel money providers but this does vary from company to company as does the exchange rates. In most cases currency exchange rates are very competitive, an added bonus of using travel money services before your trip away. Before you exchange your money through a travel money provider it is advisable to do enough research as rates fluctuate daily and between each provider. You will be charged a delivery fee if you choose the option of using a courier to deliver your money however as the easiest and most stress-free option this is frequently considered a small price to pay. In most cases you will come back from your holiday or trip abroad with some left over foreign currency and thanks to travel money currency exchange companies you can exchange this money into your home currency free of charge. So your money is brought back by the provider without commission and you are left with some extra home currency.
Travel money cards, also referred to as FX currency cards, provide a similar service to travel money companies in that you are exchanging money into a foreign currency for when you are abroad so that you avoid charges of using your usual credit card in another country and benefit from a lower exchange rate. There are additional bonuses of using a travel money card such as added security as you won’t be carrying around large sums of money at any one point and it’s an easy and convenient process. Similarly to a pre-paid card, funds are put into your travel money card through a ‘top-up’ service where your money is then in the relevant currency for your trip. Travel money cards can be topped up via the internet or even telephone so that you during your trip you can continue transferring more funds into your pre-paid card and if it’s easier many travel money card providers allow someone else to do this for you so you don’t have to worry while on holiday.
The advantages of applying for a travel money card are numerous, for example over spending shouldn’t be an issue as there is often a minimum amount you can put on this type of card. A travel money card guarantees more financial security while abroad as if your card is lost or stolen the process involved in cancelling the card is easy and some travel money card companies offer protection against such events, in other words the company will provide a replacement card and ensure your funds are returned. One of the most advantageous aspects of a currency card is the competitive foreign exchange rates which you won’t be able to find when simply exchanging your money at a bureau de change. Evidently there are some disadvantages involved with a travel money card. For instance the addition of extra fees which many providers include when you are first applying for a travel money card and in some cases you may be charged for ATM withdrawals. Furthermore it is important to realise that some companies will have a limit on the amount of money you can put on the card at one time and as top ups are completed online this can sometimes be an issue if you have limited internet access.
On the whole, travel money companies and travel currency cards are useful in more ways than one especially in terms of value and with fluctuating and often poor exchange rates elsewhere these methods are sure to save you money so you can have a more economical and enjoyable trip abroad.