ADVANTAGES OF CURRENCY CARDS

picture of a currency card being used on a computer

There are many great advantages to having a currency card when you travel abroad.

However as these currency cards are still fairly new many people do not understand how they work or what their benefits are.

As we believe that these currency exchange cards are the best way of taking travel money abroad then we would like to point out all the great advantages that they offer.

  1. You can choose to have a currency card either in Dollars, Euros or Pounds Sterling. You can even have a separate prepaid currency card for each different currency.
  2. No foreign currency exchange rate fees, usually an extra levy of approximately 2.75%.
  3. Much higher and better exchange rates than any other form of foreign currency.
  4. The exchange rates are fixed at the time of loading your money onto your currency travel card. This means that you know exactly how much you are spending when abroad and is unlike credit and debit cards whose rates can change every time you use them.
  5. Simple to load money on to them and can be easily topped-up at any time.
  6. No foreign exchange charges on purchases unlike credit cards.
  7. No commission fees.
  8. No credit checks required. Anyone can have a travel money card as long as they have a bank account to link to it. This makes these cards ideal for students or young people who haven’t had time to build up a good credit rating.
  9. Secure. If you lost your currency card you can only lose the money that is on the card at most. Some providers will even be able to get some or all of your money back, depending on the circumstances. Some card suppliers include protections against theft and offer replacement cards.
  10. As currency cards are completely separate from your bank account if your card did get lost or stolen it would contain no bank details for anyone else to use. Also these travel money cards don’t include any identity details so anybody who found your card couldn’t use it to impersonate you.
  11. Any funds loaded onto your card and not used on your trip can be rolled-over and used on further holidays or trips.
  12. You don’t need to show any ID to use a currency card, unlike traveller’s cheques. This increases the safety of these cards and means that you don’t have to carry so many important documents around with you, meaning you face less risk of losing them and being a victim of fraud.

So as you can see currency cards have many fantastic benefits and are a great choice of holiday money when you go overseas.

There are, however, some minor disadvantages that you should also be aware of before you choose your currency exchange card.

As always it is worth comparing the best currency cards to find the latest offers and to get the right deal for you.