There are more travel money options available now than ever before, however lots of people still either use their bank card when abroad or visit the post office before they go on holiday for their travel money. Travel money specialists can offer you much better options such as; currency cards (our favorite) or cash home delivery.
Currency cards are very simple, they are essentially bank cards which are pre-loaded with money before you go on holiday and then converted into the local currency when you use them or at the point of loading.
Currency Cards usually have far better exchange rates than what the bank or post office offer, they also have very low fees for using them, with some being completely free.
Have a read about some of the best travel money options for you below and feel free email or call us with any questions you may have.
FAIRFX Currency Card
The FAIRFX GBP currency card offers a decent exchange rate margin (1.4%) and a small £1 fee for cash withdrawals. The GBP card allows you to load the card (in GBP) and then spend your money in any country by withdrawing cash from an ATM in the local currency or spending point of sale (POS) for free. They also have a good APP and have been established for a long time, making them a secure company to hold your money with. If you are going to be spending over £1,000 on your holiday then FAIRFX would be the best option for you.
You can apply for your FAIRFX currency card or travel cash here – FAIRFX Card & Cash
*Travel Cash is available with free home delivery on orders over £750
FAIRFX Corporate Traveler Card
The FAIRFX Corporate traveler card is ideal for those who need to travel internationally and don’t want the costs of expensive credit or debit cards. The cards are pre-loaded which allows management to keep control of staff expenditure, but also load funds instantly in case of an emergency.
The cards are free to use both in the UK and abroad when the card holder pays POS, cash withdrawals are a small £1 fee.
The real benefits to this card comes to light when you gain access to their online expenses platform. Having a tiered login structure, management can see all the transactions employees are making and provide individual logins to staff so they can annotate their expenses.
As exchange rates on credit and debit cards average between 3-5%, the 1.5% exchange rate margin on the FAIRFX corporate card can really help you save money.
*The only catch is; you have to be a UK registered company in order for you to open an account.
To enquire, please contact Lincoln Savage at FAIRFX – +44 20 7778 7503 or email and quote “Currency Pal” for your first 5 cards free.
Payoneer offer a very unique product, once you register with them and open up an account you gain access to prepaid cards, collection bank accounts, billing services and international money transfers.
What this means is that you can setup an account so you can collect payments from customers, provide employee expense accounts (through prepaid cards) and make payments to suppliers all through one place. There are of course fees for these services, there is a 1-2% charge for each transaction, depending on the jurisdiction you reside in.
With the prepaid cards, there will also be a small charge to withdrawal cash from an ATM, you will also have to watch out if you convert one currency to another as there will be a foreign exchange fee.
As they offer so many products it is best to have a talk with them on the phone first to make sure that you are applying for the right product for you or your business. The slight snag in this is that they only have a US number; so if you would like for them to call you, simply email us at currency pal and we will arrange for Payoneer to get in contact with you.
Alternatively, visit their website or apply for an account through the link below.