Ho Ho Ho! Christmas is nearly upon us and for lots of people, a nice winter break is fast approaching. For those of you that will be lucky enough to be jetting away for some winter sun or skiing, currency rates have been all over the place in recent times and it looks like it will only get more turbulent over the Christmas period, so keep your eye on the markets as their could be some big movements on the horizon.
To give you an extra boost with your exchange rates, I’ll suggest some of the best products you can use to get the most for your travel money. Trust me; it’s best to be prepared than leave it to the last minute and have the Christmas currency gremlins push up the cost of your festive retreat.
Christmas Travel Money
If you don’t already have one, then Currency Cards are the new way to take travel money abroad. They avoid the need to carry large amounts of cash, have far better exchange rates than normal bank cards and most offer free ATM withdrawals abroad. The cards usually take between 3-5 working days to be delivered to you, but once they arrive you can load them up and start spending instantly. Around Christmas is the perfect time to get one, perhaps as a present to a friend of family member, or for yourself to get a few extra mulled wines at the Christmas markets.
*Special offers are also popping up as a little Christmas bonus – details further down the page!
The two best card on the market are in my view the Revolut Card and the FAIRFX card. I have outlined the best bits of both of them below for you.
Revolut: The Revolut card allows you to hold a balance on one card of either GBP, Euros or Dollars. Their exchange rate is the best available offering a few points from the interbank rate. The snag comes in when you have to withdrawal over £200 from an ATM in a calendar month, after this amount you are charged a fee of 2% per withdrawal. This only for ATM withdrawals though, so if you spend point of sale (POS) then you still get the closest rate to the interbank and no fee. The card is accepted anywhere you see the MasterCard logo, you can view their card or APP through the following link here or visit the currency card and travel money page on Currency Pal.
FAIRFX: The FAIRFX card is one of the longest standing Currency Cards in circulation, for good reason as well. Their exchange rates are consistent and set around 1.4% from the interbank rate, they also only have a £1, €1.50 or $2 fee for ATM withdrawals (depending on which card you have). They have a different setup to Revolut in that they offer separate cards for Euros, Dollars and GBP cards. The best card they offer is their GBP card, this is because they offer the MasterCard exchange rate minus a flat 1.4% fee on all transactions and a £1 ATM fee, it can also be used all over the world to obtain almost any currency. The GBP card however, doesn’t allow you to fix the exchange rate when you load it like their Euro and Dollar cards, therefore you are left at the mercy of exchange rate fluctuations.
Over Christmas, FAIRFX are also running a promotion which would interest the vast majority of you. FAIRFX Customers can get a 50% discount off 12 bottles of boutique wines (normally costing £120.38) from their partner “Virgin Wines” this means it’s £4.99 per bottle and compared to the stuff on offer at supermarkets for that price, i’m sure you will be well satisfied. Also included is free next day delivery and a free bottle of Prosecco (worth £10.99).
If you want to register for a FAIRFX card (and snap up the wine offer) then you can do that through the link here or visit the currency card & travel money page on Currency Pal.
For those of you who don’t like the idea of bank cards then there are other options. FAIRFX offer a home delivery cash service which is free for any orders over £750, any amount under that and there is between a £5 and £7.50 delivery fee. This service is available with next day delivery as long as you order before 1pm.
You can order cash from FAIRFX using the same link as for their currency card.
To give you an idea of how much more beneficial a currency card or travel money service is see a quick rate comparison below.
Rates taken as of 17:30 08/12/2016 based on ordering or loading £500 and converting to Euros.
Lloyds Bank – €1.1200 (£500 = €560)
Post Office – €1.1501 (£500 = €575.05)
FAIRFX – €1.1680 (£500 = €584)
Revolut – €1.1846 (£500 = €592.30)
If anyone needs to talk about travel money products in more detail then you can find contact details at https://currencypal.co.uk/contact/ and we will happily contact you to discuss things further.
For those of you going away on a holiday over the festive period, have a fantastic time, I wish all of you a very merry Christmas and a Happy New Year!