Going on a trip outside of the country this holiday period? I am sure that you have calculated all the costs that you will have to deal with but have you thought about using cash cards? In the old days, traveler’s checks were the norm for overseas spending. When credit cards became popular, they became the norm. Then ATMs being used in partner banks became popular.
Today, though, we all know about the extra costs that are associated with the use of ATMs and credit cards in foreign countries. Sometimes, additional charges are tacked on to the purchases that we make, especially with certain banks and credit card companies. More so, the rate of currency exchange can also affect how much money you actually spend. Sometimes, you can lose money because of the differences in rates.
That is why financial experts highly recommend the use of cash cards – foreign currency cash cards to be exact. Basically, these cards are prepaid cards which have a certain amount of money already loaded into them. These are particularly useful for travel in Europe, where the currency is Great Britain Pounds (GBP) or Euros. We cannot deny the fact that these currencies are stronger than the dollar and that the exchange rate can kill you if you are not careful.
Having a prepaid cash card containing Euros or GBP will save you a lot of hassle – and money – making your trip a better one. To get a better idea of what I am talking about, visit Travelex’s MasterCard-branded Cash Passport.