Taking a trip outside of the country is definitely thrilling especially if you're visiting a new destination. However, a lot of travelers spend way beyond their planned budget. When planning for a trip abroad, it is vital to know how to manage your finances well. Handling your money does not only include the money you're going to spend during your travels but it also involves how far your money will go in the country. Basically, it's about finding the best money exchange rates.
Spending some time on research prior to your trip will help you find how and where to get best money exchange rates. If you look at the trends, you'll see that exchange rates fluctuate daily but the fluctuations are not really big.
There are times that you can get great exchange rates and you'll be able to stretch your travel budget. However, this also works the other way around and you may find yourself with unfavorable rates. Since the rate fluctuates every day, most people try to target the average rate value. Rather than going with this option, the best way to get the best money exchange rates is to go for a prepaid currency card. This card is specifically tailored for travelers. Essentially, this card is more like of a debit card but is loaded with the currency of your destination country.
What are the benefits of using prepaid currency cards?
The most important thing that prepaid currency cards offer is the best money exchange rates. Prepaid card providers are in tight competition with foreign exchange establishments. This form of competition is beneficial to travelers like you.
What's more, you get to know ahead of time how much money you will have after the exchange. The amount of money you load into your card will stay the same and will not be altered by the daily fluctuations of the global exchange rates. Basically, if you've done your research on the country's cost of living then you will be able to be on track with your budget. And if you have some money left on the card after the trip, you have two options: withdraw it or use it for the next vacation.
The advantage of currency cards over carrying cash is that you will be safe if it is lost during your trip. Providers have customer service representatives ready to answer your queries all the time. With proper proof of identification, you can readily request your money to be transferred to a new prepaid currency card.
Where do I get these currency cards?
There are various companies that provide prepaid currency cards. And the best ones maintain an updated website so you may compare which ones provide the best money exchange rates. Some factors that you should look for are zero monthly charges, zero added ATM fees (the ATM owner generally has basic withdrawal fee), and zero loading fees.
Truly, using prepaid currency cards provides a lot of advantages compared to other methods. Remember these cards came into existence with the traveler's needs in mind. In the end, which card you go with will be determined by your needs as different companies offer different features.
Get a FairFX card today and take advantage of better holiday money rates.
Tuesday 18 May 2010, 04:48pm
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