Travel Money
We have researched expert information on convenient ways of changing travel money at the best rates, and found two services/products that stand out:
FairFx: foreign currency purchased online at very good rates and delivered to you.
If you want to take your spending money in cash, you can buy it online on the FairFx website, at what are agreed by pundits to be highly competitive rates, with 0% commission. And you can then have the money delivered to you, at no charge, the next day (even Saturday) provided you book by three o’clock the previous afternoon and the amount is at least £500. There is £6 delivery charge for orders less than £500.
FairFX: a prepaid debit card, loaded on line at excellent business rates
The advantage of a prepaid debit card is that you can use it to pay for goods and services at outlets that take Maestro cards or you can draw cash out of ATM machines. If you happen to lose the card, no one can use it without knowing your PIN number and most card providers will replace it with funds intact.
FairFX is the market leader in prepaid foreign currency debit cards, because:
- The card is loaded with either Euros or dollars bought at cheap rates previously available only to business travellers, so you get more foreign currency for every pound.
- It applies no spending or foreign ‘loading’ fee, and can be topped up for free by debit card or bank transfer. The only cost is a very small cash withdrawal fee and an initial card application fee of £9.95, which is waived if you put at least £500 on the card.
Specialised credit and debit cards
Other ways of paying abroad include specialised credit cards, which provide some of the best rates of exchange but can attract expensive interest if you draw cash.
There is also a specialised debit card, but it’s tied to also opening a UK bank account with the card provider.
