So we’ve compared the Post Office's Terms and Conditions for spending abroad with our own, to help you make the right decision.
The Post Office is a well-known high-street brand, trusted by millions for postage, government, and financial services through its wide network of branches. However they are not the ones to deliver your mail- that is the Royal Mail, and is a different business to the Post Office.
The Post Office offers a prepaid multi-currency travel card which allows you to hold up to 22 different currencies. The aim is to provide an easy and secure solution to managing your travel money abroad.
The Post Office has one simple plan, their basic Post Office Travel Money Card. While the card is free to get, there is a minimum load amount of £50 of whichever of the 22 currencies you choose.
Since it is a prepaid card, the Post Office won't charge you any transaction fees while spending abroad if you use the correct currency for the country you're in. However, you will be charged a rate of 1.5% to top up your card with currency in the first place- this is where the fees kick in, with a minimum fee of £3 per top up.
Their exchange rates also include a significant markup. For example, we took a look at the EUR exchange rate they offered to top up your card- when we compared this to the interbank (real) bank, we observed an additional hidden charge of 3.8%. Please note- this charge is variable across different currencies.
You'll also be charged £1.50 per ATM withdrawal, and this can be higher in other currencies (check their T&C's page 12-15 for more info).
Finally, if you spend abroad in a currency not supported by the Post Office, you'll incur a 3% transaction fee. Given they only support 22 out of 180 currencies, there is a significant risk you'll be hit with this rate.
Currensea is a travel debit card that allows you to spend money directly from your trusted bank account, rather than having to open up a new one or top up a prepaid card. It is based on open banking, which was introduced several years ago to promote innovation and competition in financial services so that you have access to a wider range of options and rates.
Currensea has three travel cards, including Currensea Premium and Currensea Elite. For the purposes of this comparison, we'll be focusing on Currensea Essential, which is free like the Post Office Travel Money Card.
What Currensea offers is a product focused on providing you with the best possible rates as you spend abroad. Our card partners directly with your trusted bank account (unlike other travel cards), meaning that you can spend with your Currensea card abroad just as you would at home with your regular debit card. Funds come straight out of your bank account, and you can spend whatever balance you have.
Because it’s not a prepaid card, you never have to top up your Currensea card. You don’t have to worry about losing it and any funds that might remain on it, nor do you have to constantly top it up and remember how much you have on it: we offer travel, but without the hassle.
We also check how much your bank would have charged you to use your regular debit card abroad- and we can tell you exactly how much money you saved by using your Currensea card.
We convert your currency based on the real-time interbank exchange rate, with an additional markup of 0.5% per transaction no matter when you use it or how much you spend with it. No hidden fees, no weekend fees, no increases to the markup - just clear, transparent information on how much we charge and how much you save.
We charge our usual fee of 0.5% for withdrawals up to £500 a month, and for anything over this amount we charge 2%.
While your first card is free, we charge a £5 replacement fee (but no delivery fees).
We compared how much it would cost spending with Currensea versus the Post Office on a week-long holiday to Spain for a family of four. Take a look at the table to see the breakdown of spend- we've also included the average extra hidden fees that the Post Office charges.
*All values to 2 decimal places
| Currensea charges | Post Office charges | |
| €4375 on card spending | £18.48 | £55.45 |
| €400 on 3 ATM withdrawals | £1.69 | £9.57 |
| Extra hidden fees | £0 | £152.50* |
| TOTAL | £20.17 | £217.51 |
*We looked at a few main currencies and calculated an average markup of 3.78%, however this will vary depending on the currency and amount.
Total saved with Currensea vs using the Post Office: £197.34
% saved with Currensea vs using the Post Office: 90.73%
The Post Office travel card could be a good solution if you have younger family members travelling abroad and want to help them with a little bit of spending money their trip, but don’t want to give access to large amounts of money or for them to use their bank card. The card could then allow you to top up from afar and with smaller amounts.
For personal travel use, the card is far from ideal. Of all the cards we've benchmarked, the Post Office card is the second worse for charges, with costs significantly more than most high street banks. Since it is a prepaid card, you'll need to remember how much is on it and faff around topping it up as you spend abroad. And if you don't spend all the money you top it up with, you'll also have to remember to take the unspent balance off your card when you get home, incurring yet more charges. On average in the UK in 2023, prepay travel card users returned home with £78 on their card..
With Currensea on the other hand, you can spend abroad just as you would at home with your regular debit card, since your card partners with your existing bank account. We offer travel, but without the hassle.
If you are after the best foreign exchange rates possible, then Currensea clearly has the edge. While the Post Office charge a 1.5% fee to top up your card and a 3% fee for transactions in non-supported currencies, not to mention several other hidden fees, Currensea charges just a 0.5% markup from the interbank (real) exchange rate. This means that Currensea will always be the cheaper option for spending abroad, and you'll save at least three times as much as you would with the Post Office card.
Overall, if you're looking for a prepaid card to give to younger family members while they travel, then the Post Office could be a good option. But if you want a card you don't have to continually top up that focuses on providing the best rates possible, then Currensea is the right choice for you.