Whenever we travel abroad, we try and ensure that the money we carry lasts for the entire trip. However, nowadays you need to plan in advance in order to get yourself the best GBP Conversion rates in order to have a hassle free holiday or business travel abroad.
You need to identify and find out which are the companies that are offering you the best possible rates. Before finalizing a company, you also need to understand the rates and fees being charged by these money exchangers. For a layman, this is a time consuming process but is really worth it as at the end of it all you become much wiser to the ways of the financial markets.
The best method to find out who is offering the lowest GBP conversion rates is by going online. This will give you a fair idea as to who is offering you the lowest rates in the market place. These companies charge a certain amount as fee towards any transaction you make either through your debit card, credit card, or any withdrawal through ATM when you are traveling abroad. It is this fee you need to check up while planning on your travel in order to get the best rates.
These GBP conversion rates can vary vastly from bank to bank and institution to institution. It all depends upon the kind of company or bank you are dealing with since the exchange rates very often eat into your expenditure without your knowledge about it. So, make sure that you find the right kind of provider who can help you with your conversion. It is often found that the bigger banks have higher processing fees in comparison to the smaller financial institutions and currency brokers. For instance, banks like Citibank, Chase and other such banks charge as high as three percent as their conversion rate whereas with a small bank or broker you may get your GBP conversion for about one percent. This makes a huge difference when you are traveling abroad. Hence, it is wise for you identify a company that genuinely understands your requirement and is willing to help you wholeheartedly.
FairFX is one such company you can rely upon to meet your conversion requirements. The company understands that when you travel abroad you can never really plan your expenditure very accurately and very often you end up by using your credit cards, debit cards and other such financial instruments. Get yourself a FairFX Travel Money Card and cut down on all the extra costs you incur towards the GBP conversion, and save a lot of money on exchange rates and other charges.
Thursday 11 March 2010, 02:42pm
You can use a prepaid currency card from anywhere in the world, pretty much like a normal credit card. The irony of this card is that you can spend as much as you want and still you will not incur any kind of debt unlike a regular credit card where you have monthly card bills, interests and payments to make.
However you need to make sure that your account has sufficient amount of cash balance at all times. The prepaid credit card works on the same principle of using a savings account linked debit card or a checking account card.
So, how do I open a prepaid credit card account? Well, it’s quite simple actually. You can open an account with a nominal fee. The fee amount varies from bank to bank. But this figure generally varies, depending upon the kind of bank you are dealing with. A prepaid credit card is of a huge benefit for people who are burdened with a bad credit rating. You will now be able to use this prepaid card to book hotel rooms, rental cars and other such things when you are traveling without having to bother about credit card bills and interests. All you have to do is maintain a sufficient cash balance in your prepaid card account.
Prepaid cards are very popular in the travel industry. Recently, we have seen the introduction of Travel Money cards which are seen as an alternate to your regular prepaid credit cards. These travel money cards are very quickly replacing the use of travel checks, foreign currency or even the good old international credit cards. There are dual advantages with a travel money card once you load your card with sufficient money. On one hand it can be used as a debit card when you have to withdraw money from an ATM and on the other hand you can use it like a credit card to make payments for any kind of purchase you make when traveling abroad.
With the way the world economy is moving, people are no longer willing to carry more money with them when on a travel abroad. In such a situation, using Fairfx travel money card is the most viable option in front of you. This is because you do not incur any charges on your Fairfx Travel Money card unlike other regular credit and debit cards. These travel cards can be used in almost all the major shopping outlets of the world, since it is simply a standard MasterCard.
The biggest advantage with the Fairfx Travel Money Card is that it is completely secure. This is because the travel money card is not connected to your bank account. Just like your pre paid mobile phones you either have to top it up via an online bank transfer or use the SMS facility.
Thursday 11 March 2010, 11:15am
There are many us who travel abroad frequently on holidays and business travel. Every time we travel abroad, we either get our currency converted in advance or get it converted into the local currency when we are on the road. This way we try to take advantage of a favorable exchange rate.
However, this involves either carrying cash along with you or using your debit or credit cards. Both these options involve higher exchange rates which are bound to eat into your expense budget substantially if you are not careful with the prevalent exchange rates.
At times, while traveling abroad, it is very difficult to calculate how much money you may require. Quite often you end up spending more than what you would have budgeted for and you end up paying for these additional expenses either through your debit card or through your credit card. Paying through your credit or debit card involves making additional charges by way of fees and transaction charges which can be pretty steep. The best way to get over this is to buy foreign currency online. How is this possible?
You can make this possible by going online and identifying those companies that offer you the best exchange rates. Then look for any other costs by way of transaction fees, and other such charges. You will find that bigger banks and institutions have higher processing fees. These banks charge as high as three percent towards currency exchange rates which is very high in comparison to small banks and other institutions like brokers who can provide this service for you at one third of what banks charge.
But the best way to buy foreign currency online is to identify and select a company that is an expert at low cost online currency exchange. In this regard, take a look at what Fairfx has to offer. Our prepaid currency cards have:
Apply today below!
Wednesday 10 March 2010, 02:48pm
