Getting your holiday money is important, especially if you plan to not use your credit cards. Fear of fraudulent activities has deterred people from using their credit or debit cards. While you might be able to get some protection cover for your credit cards, there is not much you can do if your money has been taken from your debit card.
With people becoming more inclined to saving money the debit card is one that is gaining in use. When you have to travel you do have to ensure you have enough money for your trip. This will then lead you to go around and compare exchange rates for travel money. This indeed is essential to do so that you don't end up paying a high commission when you buy your foreign currency.
Online
The first port of call for most people is to go and compare exchange rates for travel online. There are many websites that will offer you advice and places where you can get your foreign currency. However, it is often found that while all these might speak the fancy sales talk when you click purchase, you suddenly find that you have been dubbed and there is some commission that you have not been made aware of. Remember they too have to make some money in some way. This means that you might have to start looking further afield and really compare exchange rates for travel money.
Banks
Some people think that it is easier for them to go and simply buy their foreign currencies from the bank. Indeed this is plausible, but banks often charge their own commission percentage. And with exchange rates fluctuating, you are guaranteed that the money you have bought will cost you more than when you sell it back to the bank.
Most people do a great deal of research when they want to compare exchange rates for travel money so that they end up with more money than they otherwise would have if they simply went ahead.
Currency cards
All these options might seem like the best, but they do come with one flaw. Once you lose your money through theft or any such things, then you won't be able to get it back. People have come to the realisation that money is not always such a good thing to have in hand, but so are your credit and debit cards. Also, some banks will charge you a great deal of money for making international withdrawals, which is why people rather have the money in their hands as opposed to coming back to bank statements that have put them in the red.
The option of using a prepaid currency card is an appealing option for many people. This is due to the fact that the prepaid currency card does act like your average. This means that you are able to shop with it and do all the things that you normally would do with the card, except you won't end up in the red.
Tuesday 16 March 2010, 05:03pm
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