Most everybody realizes that it is not a smart idea to travel with loads of cash in your pocket. If someone should happen to steal it or you end up dropping it somewhere, tough luck. There is absolutely no way to get your money back, as nobody is going to replace it for you.
Traveller's cheques' days are numbered
That is originally why things like traveller’s cheques took off, as they offered greater security compared to cash. If you lost your traveller’s cheques or had them stolen, you simply made a phone call and they were quickly replaced. But just like regular cheques, traveller’s cheques are rapidly being replaced by plastic cards that are both secure and convenient to use. One such card you can get is a travel MasterCard.
Prepaid currency cards are the new travel money solution
Now you may be asking why should you use a travel MasterCard when you already have a credit card sitting right there in your hands. One reason is credit cards will charge you interest on any and all purchases you make while traveling. And with interest rates climbing the way they are these days, that accumulated interest will start to add up really fast. Another reason people would rather use a prepaid card instead of their usual credit card is so that they can control their spending. A credit card will allow you to spend as much as you want until you reach the spending limit, which usually totals in the thousands of dollars for most people. With a prepaid card, you put money on the card first and then that is the total amount you have to work with.
MasterCards give you added security and peace of mind
With a prepaid MasterCard, since the card is issued by MasterCard, the most widely accepted card company there is, you should have no problem finding businesses that will accept your card. Some people may prefer to use their debit card from their own bank account, and while that certainly works too, you want to be careful in doing that.
If someone should happen to steal your prepaid card, you will only have lost the amount you put on the card to start with. With a debit card, the thief will be able to clean out your entire bank account. Now, obviously you can report either card stolen and will eventually get all of your money back, but in the meantime, having an entire bank account wiped out could cause problems, like accruing many late fees until the matter is resolved. A prepaid travel MasterCard also offers added security over credit and debit cards, in that you need a PIN number in order to use it.
Apply for the FairFX currency card today, and see how much you could save on your next trip.
Friday 05 March 2010, 01:53pm
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