Travelex offer a fantastic prepaid travel money card that allows you to load your travel money at a fixed exchange rate onto a currency card which can be used whilst abroad to pay for goods and to withdrawal money from ATM machines.
As Travelex express on their website a “Cash Passport will change the way you think about your money when travelling.”
What is a prepaid currency card?
Prepaid Currency Cards operate in a similar fashion to mobile phone top up cards or retail gift cards. A fixed amount of funds is loaded onto the currency card which can be spent; once the funds have been used the card can either be topped up or discarded. You cannot spend over the amount loaded onto the card.
Benefits of Travelex’s Cash Passport
- Secure Method of carrying travel money – A currency card offers the same security as traveller’s cheques without the hassle of having to carry your passport to withdrawal money.
- No overspending – You can only spend what you have loaded onto the card.
- Available in 7 different currencies; GBP, Euros, US Dollars, Australian Dollars, New Zealand Dollars, Canadian Dollars and South African Rand.
- Withdraw funds 24/7 – You can withdraw money from any ATM displaying Visa or Plus sign.
- Emergency assistance – If your card is lost or stolen Travelex will provide emergency funding and replacement cards.
- Free withdrawals and no set-up fee.
- Competitive exchange rates.
How to load and reload you Cash passport
At the time of purchase you will specify how much money you would like to be taken from your bank account and loaded onto your Cash Passport, this can be done quickly and efficiently online.
To reload you travel currency card and add more money onto your Cash Passport you can either; make an Internet banking or telephone banking transfer or call Travelex who will add the money for you.
Visit our currency card comparison table to view the Travelex Cash Passport against other leading currency cards. When making comparisons consider how much money you will receive on your card after set-up fees and withdrawals fees have been charged. Travelex regularly offer a mid table exchange rate however the fact that they charge far fewer fees that other travel money card providers mean that you will often end up with more currency for your pounds by using a Travelex Currency card over a competitor currency card with a better exchange rate.
An example:
You are looking to convert £500 into Euros
Travelex offer a rate of 1.1031 with no set up fee or withdrawal fee. FairFx are offering a rate of 1.1175 with a set up fee of £9.95 plus withdrawal fees of 1.50 Euros.
£500 converted into Euros with Travelex will give you 551.55, whilst £500 converted into Euros with FairFX will give you 547.63 Euros. You will also need to consider that every time you make a withdrawal with the FairFX card you will incur a 1.50 Euro fee which is not charged by Travelex.
This example clearly shows that you must always compare exactly how much of a currency you will get for your pounds in order to see who is offering you the best deal.
At this point in time at Compare Currency we feel that Travelex are currency offering a fantastic currency card that will be difficult to beat.
For more information please visit our currency card comparison tables or simply click here to purchase a Travelex Cash Passport.
