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
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