Traveller’s cheques used to be the best method of taking large amounts of money abroad without having to carry it all in cash. However a new popular method of transporting funds has arrived which offers a far more convenient way of carrying holiday money.
The arrival of the prepaid card which holds some similarities to traveller’s cheques allows you to load a card with currency and use the balance whilst overseas.
Like a travellers cheque you purchase a fixed amount of currency before travelling which allows you to budget what you spend whilst being away. An added bonus of the currency card is that should you feel you need to add more currency onto your prepaid card, you can do so easily by either going online or by making one quick phone call and the funds can be taken from your designated current account and added onto your currency card. Again as with the travellers cheque, a consumer can benefit from knowing what currency conversion rate that have got before they travel and are therefore less exposed to exchange rate movements whilst they travel. Prepaid currency cards can be replaced if stolen.
Advantages of using a prepaid currency card instead of travellers cheques
A currency card fits easily into your wallet and is less bulky to carry around. You can use it at ATM machines and do not have to carry additional identification to use it as you have to when using traveller’s cheques.
Please visit our comparison table to check out the best range of currency cards currently available.
