Travel Money Currency Card Reviews

My Travel cash- Euro card / Dollar card

my Travel Cash are relative newcomers to the prepaid currency card market, but its Euro card and US Dollar cards offer a safe and good value alternative to buying Euros or buying dollars as cash. In Spring 2010, my Travel Cash also launched a Multi-Currency GBP card, for those travelling outside of the US and Europe, as well as a currency home delivery service allowing customers to buy their travel cards and cash from one place.

These three card actually offer some of the best currency exchange rates in the market, compared to both cash providers and other prepaid currency cards. For example the Multi-Currency card incurs a 1.5% foreign exchange fee for transactions abroad (as for FairFX) compared to 2.5% with Caxton, 2% with ICE. This is combined with no commission and free transactions when abroad. However, you do still have to pay when you withdraw your foreign currency as cash from the ATM, but at €1.25 or USD 1.50 this is slightly below the market average for travel cards.

The card is easy to order, with an online application form and no credit check required. Then once received you can access your account via the web, SMS and phone giving you 24 hour access to your Euro / or US Dollar account, wherever you are in the world.

Our other top feature is the provision of a free back up card in case your main card is lost or stolen, taking away any stress when you are abroad. Overall, at The Currency Exchange Site we think these cards are some of the best prepaid currency cards on the market.

CaxtonFX Global Traveller Card

A GBP denominated card is a sensible travel money option for the frequent traveller, whether for business or personal use. This card allows you to take one card to multiple locations and spend in multiple foreign currencies without incurring the expensive foreign exchange and ATM fees associated with debit and credit cards, and without having to exchange currency again and again for every country visited.

The card is loaded with pounds currency and then a currency conversion is made at the time of spending (2.5%), lower than the typical 2.75% charged by most UK debit and credit cards. This is the main drawback of the card, as you will lose visibility on the actual cross-currency exchange rate at the time of spend. However, unlike your UK debit or credit card you will not be charged for using ATMs outside of the UK, a saving up to £4.50 - £5 comapred to some debit cards, or for PoS transactions giving you a much better deal on your foreign currency. Therefore, you can combine the safety and security you would receive with traveller’s cheques with the great forex rates and ease of use of a prepaid currency card.

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