There are plenty of options available when it comes to travel money while going abroad. As the Euro is currently much stronger than the pound, it is a great time to take advantage of this by travelling further afield. By getting a good deal on your travel money you can turn your back on the current economic climate and indulge in a few extras that you normally might not be able to afford.
Carrying around a lot of cash while you are away is risky especially when you are staying in multiple accommodations or going from place to place, it is far too easy to lose cash. Also, in the event that money is misplaced or stolen, you have little recourse when it comes to getting it back. However, there are a number of other currency options you can use outside the UK. Many of them can provide an easy, hassle-free, and secure way to carry money while travelling.
One tried and tested form of travel money is travellers’ cheques. These are bought ahead of time, and usually in pounds, dollar or euro currency. In case they happen to get lost or stolen, you have more control when it comes to getting the money replaced. However, they do carry with them a few drawbacks. One is that they can be a bit of a hassle to cash in, finding somewhere to accept travellers’ cheques and additional commission rates can be time consuming, and not an ideal way to spend your vacation. Also, there are now other options that provide more freedom and security, that might be a better choice for most travellers.
Two of these choices are obtaining prepaid currency cards or using credit cards. Both work very similarly; yet have a few distinctions worth noting. Both provide an easy way to carry around money more securely than with cash or cheques. They are also easy to use in virtually any type of setting or anywhere in the world. However, with credit cards, you will generally be charged commission and a foreign exchange loading fee so you will not know the final price until you get your card’s bill later in the month. There are a couple of credit cards that offer a good deal abroad, such as the Santander Zero card, but otherwise you need to be careful or your costs can spiral out of control. For this reason, prepaid cards are a much more competitive option. As your card is prepaid, you fix your exchange rate when you load your card and then only pay a small fee for ATM withdrawals, and no fee for other transactions. Your money is safe, and you know how much you’re spending.
With a little bit of research, and selection of the right travel money product your trip can run smoothly.