Karstmedia.co.uk - the site for Travel Money Card information.
It can be a nightmare trying to find out what the best option is where travel money is concerned. Travel Money Cards are fairly new on the travel money market but are becoming increasingly popular.
Travel Money Cards – a useful way to pay?
So what exactly is a travel money FX card? Well, it works much like a regular Prepaid card in that there is no borrowing facility or line of credit - the money on the card is money that you have loaded on there. So, you ask your travel money provider to load a certain amount of foreign currency on to the card and they will offer you a competitive exchange rate. Then, take the card on your holiday and gain acceptance at a wide range of retailers and restaurants: just look for the acceptance logo (such as MasterCard). All your money is in one place and if the card gets lost or stolen you can have it replaced. If you are taking cash abroad and it goes missing – there is nothing you can do to replace it! Most Travel Money Cards carry free buyback option, or you can leave unused funds on there until next time you travel abroad.
Caxton FX global Travellers card
The Caxton FX global Travellers card is a good card for those people travelling to countries which do not use the Euro or USD: the money loaded on to the card is in British Pounds, and the currency conversion is made each time you spend. This is a unique method and the user still receives a good exchange rate. There is no ATM withdrawal fee if the card is used outside the UK. When using the card within the UK to make purchases, there is a £1.50 purchase fee so this card really is best used abroad. The initial load must be £100 and if you lose the card, it will cost £5 to replace – not much when you consider that losing cash means it is gone forever!
ICE Travel Money
ICE offer travel money services and the ICE Travellers CashCard Sterling is just one product from their range. ICE claim that using a travel FX card such as this is safer than carrying cash or travellers cheques abroad. There is also less risk involved than using a regular debit or credit card. In order to apply, you set up an account with ICE and can then start ordering multiple cards -in US Dollars, British Pounds or Euros. You can even order additional cards for family and friends to use. There are no fees on a number of areas including purchasing and top up if using the card outside of the UK. Applicants are not subject to credit checks. With the ICE Travellers CashCard you can go into a negative balance which carries a £5 fee so keep an eye out for this!
Fair FX card
FairFX is one of the most well known foreign exchange services and their travel money card is equally well known. Called the FairFX Currency Card, this is available as both Euro or US Dollar. It is free to get this card if you load an initial £500. If you initially load less than this, you will be subject to a £9.95 card purchase fee. FairFX are good at providing excellent exchange rates so it is worth considering their service for travel money cards, and there is no point of sale fee. Cardholders are not subject to monthly fees or foreign exchange fees which is certainly a bonus. However there are ATM fees for both the UK and abroad, though these are small and still better than using a regular credit or debit card.
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