Travel Money FX Cards Informations Library

TRAVEL MONEY FX CARDS

What are Travel Money FX Cards?

Welcome to the newest way to pay abroad. Travel FX Cards offer a cheaper alternative to using regular credit and debit cards while travelling overseas – with none of the large fees and charges that credit card companies charge for international use.

Accepted globally thanks to the issuer (usually MasterCard®, Visa® or Maestro®), Travel Money FX Cards offer excellent exchange rates and added security – if your card is lost or stolen the card provider will issue with a new one, with unused funds intact.

Travel FX Cards are designed specially for use abroad and aside from their issuer carry other similar features to credit cards: long card number, chip and PIN security, signature strip…yet one key factor is different. Travel FX cards do not carry a line of credit or borrowing facility, and only carry funds which have been loaded on to the card by the holder.

What's the Difference between FX cards and Prepaid Cards?

You might have noticed that Travel FX cards sound very similar to Prepaid cards and indeed they are very similar. However, Travel FX cards are specially created for international use and are often offered in a specific currency: mainly US dollars, Euros or Pounds sterling.

The exchange rates offered are exceptional yet for home use they might be pricier to use. Regular prepaid cards are better for home use and don't have a specialist exchange rate facility.

Where can I get a Travel FX Card?

Travel FX cards are offered by online specialist currency exchange companies – you might be familiar with some of them as they offer other travel money services (such as cash and traveller's cheques).

The companies that offer them are foreign exchange experts and can access the 'forex' market directly – thereby allowing them to offer you fantastically low exchange rates.

To find a good card deal, just go to our Travel FX Cards comparison page.

What are the Fees?

They are a much cheaper way to pay when you're abroad, but Travel Money Cards do carry a few fees:

• Initial card fee – usually under a tenner
• Replacement fee (if the card is lost/stolen – this can cost anywhere between £5 - £10

Transaction, purchase and ATM fees do sometimes apply but not in all cases – so check this when browsing for a card. Typically, you might see a 1.5% transaction fee and you might be charged a small amount for ATM withdrawals – but other cards are completely free.

Overall, you can see how much cheaper it is to use FX cards than normal credit/debit cards!

What are the Advantages and Disadvantages?

Travel FX Cards carry many benefits for people, whether they are on a holiday, backpacking trip or a short business visit. They offer unbeatable exchange rates and low usage costs and are very practical for carrying around (small enough to fit almost anywhere)! Thanks to their issuer, they also enjoy worldwide acceptance.

So, are there any drawbacks? Well, you might prefer cash as it has even wider acceptance than a card – indeed, some countries prefer no plastic payments (do make sure you check this in advance). Many Travel FX cards have a limited life – they are only valid for around 36 months – so make the most of yours!