If you're planning on traveling out of the country, then you're probably looking at your options for currency exchange. Most travelers often lose money on tourist rates of exchange by getting their money exchanged at airports, using their credit cards, or using alternative methods. But a prepaid card may be the best option for many reasons. First, let's take a look at the alternative methods.
Why Credit Cards Cost So Much More in the Long Run
Credit cards are probably on the top of most people's minds because of the convenience. They also know what they are getting when they use their credit cards as they are familiar with their interest rates. However, most people are unaware that there are hidden charges and extra fees associated with credit cards.
Many credit card companies charge you extra fees for currency exchange. When you pay with your credit card, you are charged every time you use it during your trip. While the charges may not be significant, they can really add up and cost you a lot of money by the end of your trip, making it expensive.
Airport Currency Rates Are Also High
Getting your currency exchanged at the airport is also viable. This option is convenient and mostly used if the traveler needs the money at that point and cannot take the extra time to look for alternatives. Most people are on limited schedules while they are traveling so they have to resort to this option.
Airports charge tourist rates of exchange which can be very high. In fact, getting your money at the airport is one of the most expensive choices. You may be surprised that the rates can be 15% or even higher depending on the supply and demand as well as the airport center.
Currency Cards are the Perfect Solution
By taking a little time to prepare beforehand, you can save a lot of money with currency cards. Currency cards are just like credit cards. You purchase the money at low rates before leaving for the country. Then, you simply load it up with the money you need and go on your way.
There are no hidden charges, the rates are lower than your other choices, and they are easy to use. What's more, they allow you to keep to a budget because you can load up the card with the money you want to spend. If you need more money, all you have to do is contact the company during your trip to deposit more.
And that's not all there is to these cards. If you lose the card during your trip, you can make a call to the company and get the balance moved over to a new card. This is very important as it may be easy to lose your wallet or luggage while you are traveling.
Order a FairFX travel money card today for cheap exchange rates on your next trip abroad!
Monday 28 June 2010, 04:16pm
Preparing for a holiday simply shouldn't be an issue for anyone. But as one prepares to go out they find the biggest nightmare to deal with is the currency rates for the country they are visiting. But don't allow the stress of these foreign currencies get you down as you have several travel money delivery systems available to you.
Currently the pound sterling remains strong and conversions to other foreign currencies are quite generous. Of course the change in currency can be handled several different ways, and whilst each may seem to provide the consumer with the best deal, not all are customer oriented and the wisest choice you have.
For instance, the traveler could choose to exchange currency in the UK before going abroad. You will be charged a conversion fee as well. These fees are the standard rate and there is no reduction of fees on this conversion method. If you want the equivalent of 100 pounds you will need to have the funds on top of that to cover the conversion.
On top of that you will need to keep track of these funds for the entire trip. If you lose these funds you will have to rely on an outside funding source. If you forget to bring any other funding sources you are in serious trouble. Cash can be stolen easily, and if it is there is no way to replace it leaving you in a bad predicament.
A second option for the person on holiday is to use a credit card. With your credit card you have the option to use it at an ATM or Bank to withdraw funds from your account. Either way, the credit card will most likely give you a very poor exchange rate, as well as inordinately high ATM fees.
But when a person want their travel money delivery with the best funding options, and the lowest conversion rates they should decide to go with a prepaid currency card. These cards are loaded with your funds at a considerable discount and work just like a debit card.
Cards like the FairFX Currency Card give much better exchange rates and are safe for worldwide use. Each card has been created to be use whilst traveling. In fact they are even easily reloadable if you run low on funds you simply need to find an internet connection or make the transfer with your mobile phone with the FairFX telephone top-up service.
Simply choose a card that meets your needs and load it to receive the best overall benefits that these cards carry. They are safe, inexpensive and secure. This means they are safer than cash and cheaper than the average credit card and offer peace of mind that the other two can't deliver on.
Friday 25 June 2010, 01:59pm
Are you planning to take a vacation or a business trip abroad? If so, then you must already be engrossed with all the necessary preparations such as the things that you should bring, your hotel accommodation, scouting for tourist destinations, and a lot more. One aspect which is sometimes overlooked is how to maximize your finances. This is not about having a huge and flexible budget but rather how you can get the most out of your money. This is about taking advantage of the best tourist rate exchange.
The Leverage of Knowing Tourist Rate Exchange
With your finances at hand, it is essential to know how far it will go in your destination country. This is of utmost importance especially if you are on a tight budget. While comparisons among different foreign rate exchanges only shows minor differences, the overall difference adds up to a considerable amount of money since you're most likely going to convert a large amount of money. A bad tourist rate exchange means you could lose a big portion of your travel budget.
Remember that in business, high demand of any product provided by only a few suppliers result in an increase in price. This also holds true with rate exchange establishments. The worst tourist rate exchange is offered at the airport. Typically, only two or three exchange centers compete in an airport. The added charge may even reach up to 20% of the exchange value. This is obviously a bad deal but a person who did not prepare ahead and is already pressed for time may have to resort to this rate.
The best option to dodge terrible rate exchange is to opt for prepaid travel money cards. Companies that offer these cards are in close competition with leading foreign rate exchange centers. Not only do they provide the best exchange rates, but you will be able to know the value of your money in your destination ahead of time.
Worry-free Travel with Currency Cards
Your travel schedule may be packed with many activities. And carrying a huge amount of money in your bag or purse is definitely an added emotional burden. What if somebody manages to steal your bag? What if you are too engrossed with your activities and you end up misplacing your bag or wallet? Using a currency card will definitely address this issue.
The fact still remains that you may still lose your purse or bag, but with a currency card you can rest assured that your money will be safe. Not only do prepaid currency cards provide the best exchange rate, they also offer money protection. If you lose your card, you can email the customer service representative and get a new one with the old balance transferred into it.
Other Advantages of Currency Cards
Avoiding terrible tourist rate exchange is not only where you can get great savings. Withdrawal fees, loading fees, and other possible added charges are generally lower compared to the traditional credit and debit cards. Prepaid currency cards also come with the usual debit card features such as possible reimbursement of purchases.
Order a FairFX card now to save on your holiday money.
Tuesday 22 June 2010, 04:04pm
