Cheap Travel Money? How About A Prepaid Card?

Considering a trip overseas? You will have to pick up some foreign currency

. For even the learned traveller there are a baffling array of options.

Firstly, you may decided that you are in a foreign land, and use you credit or debit cards as you would back home. It is perfectly reasoable just to use your cards and ignore cash altogether. However, the rates for these types of transactions are so high that it's often cost prohibitive, and if you really knew how much the credit card companies were charging, you'd think twice. It's possibly to mitigate the damage by finding out what companies provide the least expensive rates and go with them, but you'd be better off finding another option.

There are also plenty of shop and booths around that will offer to change your money for you 'commission free', but like all things this is too good to be true and there is often a hidden catch. You would be lucky ot get 90% of the money you put into the exchange. No matter how you look at it, they are a vastly inferior alternative to cards.

In the long run, if you are buying a large amount of foreign currency, you might want to look into purchasing it over the Internet. If you have lower requirements, like only need a little bit of cash to grab a quick sandwich, you can normally manage with just using your standard cards; for much larger sums however, you really need to look into doing your currency coversion through a specialist online company. Even then, though, there are pitfalls: many companies make you wait weeks, or even months, to get the foreign currency mailed to you. You may not want to have to hag around though, or waste you precious time on jumping through the hoops.

If this sounds like you, you might want to consider prepaid currency cards. They are an efficient service that works by receiving your money, transferring it at one of the lowest exchange rates you can find, and giving it to you in a travel card that you can keep adding to as you wish. On top of that, you could just pick up some hard currency for those moments when you do have to pay with cash. The next time you're planning a trip abroad, make your money go as far as it possibly can by using a prepaid currency card.

by: Tom Fisher

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