Do you have problems staying on budget once you get on holiday? You may start out with the best intentions, but you arrive someplace new and tend to go a little mad. Be it souvenir shopping, hitting too many museums or even spending your nights clubbing, your budget may not have too many happy holiday memories.
If this sounds like you, you may want to look into a pre-paid cash card. They work just like a credit or debit card; except you load it up with money before you go away. Knowing how much money you have to spend, as well as how much you have spent and how much you have left could help you stay on budget a bit better.
FairFX has a Currency Card they claim will save you 10% on your travel currency and 5% on the cost of using your UK debit or credit cards. Currently, you can load the card up with British Pound Sterling, US dollars or Euros. You can even buy the currency straight from their website and you’ll get the card sent to you. Another plus is you get the currency rate that was applicable at the time you bought the card; so if there’s been a currency drop – you are still ahead. If it’s lost or stolen you simply contact them and they’ll cancel that card and send you a replacement. Withdrawal fees are low: 1 GBP, 1.50 EUR or 2 USD. Caxton FX offers similar features; and both allow you to top up online, so if you do run into problems money is still accessible.
These are just two options available in the UK – many banks offer them as well. Haven’t seen as much info on availability/use in the US/Canada. Visa offers a Visa TravelMoney card and Aussies might look into Travelex. Travelex might be a good option for many travelers – they offer a string of countries in which you can purchase – including Brazil, Canada, Japan, New Zealand, South Africa and UAE.
Has anyone used these? If so, tell us about it!
Photo Credit: FairFX