The benefits of a travel money card include getting a better exchange rate and paying less fees and charges. Travel money cards including prepaid travel cards and travel debit cards are also less hassle than changing money while away.
Multiple currencies in your wallet - Travel money cards carry foreign currency without worrying about cash. Some travels money cards can also carry or be used for more than one currency at a time, for exemplar the Currensea travel debit card lets you spend in all 180 currencies without making any manual changes - the travel debit card card automatically recognises which currency you want to use
Convenient - Travel money cards are widely accepted, you can carry out online and point of sale transactions in the same way you would with a credit or debit card
Access cash - If you like having some cash you can use your travel money card to withdraw cash, make sure you withdraw in the local currency so you aren’t hit by ATM exchange fees. Equally, you only have to carry a minimal amount of cash as your travel money card will provide you with access to local currency when you need it
Secure - You’re covered if your travel money card is lost and stolen, some providers give you control of the card via an app or through 24/7 customer support
Cheap - High-street banks and conventional credit cards can anywhere from 3%-7% in exchange fees per transaction, whereas with travel money cards you could be looking at close to 1.5% or 0.5% if you use Currensea's travel debit card, which can quickly add up over the duration of a holiday
Cons of using a travel money card
Hassle of topping up - if you choose a prepaid travel card you will need to reload currency if you’ve run out, this could be particularly cumbersome if you are abroad and struggle to access your phone network. To avoid this you would need to opt for a travel debit card, currently offered by Currensea, to not worry about inconvenient top-ups
Not always accepted - prepaid travel cards may not always be accepted and you will need to check the T&Cs of your opted provider before you travel. For example, if you want to use a prepaid travel card for hiring a card or paying on a cruise, this might not be suitable so you would have to choose another solution like Currensea’s travel debit card
No credit facility - If you want to split up the cost of your holiday or spend more than you have available a travel money card might not be right for you, instead consider opting for a travel credit card. Whilst the exchange rates might be higher, you will have access to a credit facility
Currensea's travel debit card can save you over £290 compared to your travel money card or your bank
Savings are based on a two week family holiday in Florida
TOTAL CHARGES, %
TOTAL CHARGES, £
CURRENSEA ELITE & PREMIUM PLAN
0%
£0
CURRENSEA ESSENTIAL
0.5%
£46.13
CURVE + £4.99 card delivery
2.58%
£238.29
CAXTON
2.25%
£207.60
FAIRFX
2.27%
£209.60
TRAVELEX
4.40%
£405.98
CANNYAPP
4.52%
£417.05
POST OFFICE
4.53%
£418.20
…vs travel money and prepaid travel cards
With Currensea's travel debit card you don’t have to worry about topping up or juggling currencies. We automatically give you the best exchange rate, every single time you spend.
TOTAL CHARGES, %
TOTAL CHARGES, £
CURRENSEA ELITE & PREMIUM PLAN
0%
£0
CURRENSEA ESSENTIAL
0.5%
£46.13
RBS
3.27%
£301.71
BARCLAYS
3.51%
£323.86
HSBC
3.38%
£311.50
LLOYDS
4.03%
£371.86
SANTANDER
3.63%
£334.61
TSB
4.56%
£421.20
…vs high street banks
You still get all the security of using your bank account, just without the fees. It’s as simple as that.
