If you're planning on traveling out of the country, then you're probably looking at your options for currency exchange. Most travelers often lose money on tourist rates of exchange by getting their money exchanged at airports, using their credit cards, or using alternative methods. But a prepaid card may be the best option for many reasons. First, let's take a look at the alternative methods.
Why Credit Cards Cost So Much More in the Long Run
Credit cards are probably on the top of most people's minds because of the convenience. They also know what they are getting when they use their credit cards as they are familiar with their interest rates. However, most people are unaware that there are hidden charges and extra fees associated with credit cards.
Many credit card companies charge you extra fees for currency exchange. When you pay with your credit card, you are charged every time you use it during your trip. While the charges may not be significant, they can really add up and cost you a lot of money by the end of your trip, making it expensive.
Airport Currency Rates Are Also High
Getting your currency exchanged at the airport is also viable. This option is convenient and mostly used if the traveler needs the money at that point and cannot take the extra time to look for alternatives. Most people are on limited schedules while they are traveling so they have to resort to this option.
Airports charge tourist rates of exchange which can be very high. In fact, getting your money at the airport is one of the most expensive choices. You may be surprised that the rates can be 15% or even higher depending on the supply and demand as well as the airport center.
Currency Cards are the Perfect Solution
By taking a little time to prepare beforehand, you can save a lot of money with currency cards. Currency cards are just like credit cards. You purchase the money at low rates before leaving for the country. Then, you simply load it up with the money you need and go on your way.
There are no hidden charges, the rates are lower than your other choices, and they are easy to use. What's more, they allow you to keep to a budget because you can load up the card with the money you want to spend. If you need more money, all you have to do is contact the company during your trip to deposit more.
And that's not all there is to these cards. If you lose the card during your trip, you can make a call to the company and get the balance moved over to a new card. This is very important as it may be easy to lose your wallet or luggage while you are traveling.
Order a FairFX travel money card today for cheap exchange rates on your next trip abroad!
Monday 28 June 2010, 04:16pm
Are you planning to take a vacation or a business trip abroad? If so, then you must already be engrossed with all the necessary preparations such as the things that you should bring, your hotel accommodation, scouting for tourist destinations, and a lot more. One aspect which is sometimes overlooked is how to maximize your finances. This is not about having a huge and flexible budget but rather how you can get the most out of your money. This is about taking advantage of the best tourist rate exchange.
The Leverage of Knowing Tourist Rate Exchange
With your finances at hand, it is essential to know how far it will go in your destination country. This is of utmost importance especially if you are on a tight budget. While comparisons among different foreign rate exchanges only shows minor differences, the overall difference adds up to a considerable amount of money since you're most likely going to convert a large amount of money. A bad tourist rate exchange means you could lose a big portion of your travel budget.
Remember that in business, high demand of any product provided by only a few suppliers result in an increase in price. This also holds true with rate exchange establishments. The worst tourist rate exchange is offered at the airport. Typically, only two or three exchange centers compete in an airport. The added charge may even reach up to 20% of the exchange value. This is obviously a bad deal but a person who did not prepare ahead and is already pressed for time may have to resort to this rate.
The best option to dodge terrible rate exchange is to opt for prepaid travel money cards. Companies that offer these cards are in close competition with leading foreign rate exchange centers. Not only do they provide the best exchange rates, but you will be able to know the value of your money in your destination ahead of time.
Worry-free Travel with Currency Cards
Your travel schedule may be packed with many activities. And carrying a huge amount of money in your bag or purse is definitely an added emotional burden. What if somebody manages to steal your bag? What if you are too engrossed with your activities and you end up misplacing your bag or wallet? Using a currency card will definitely address this issue.
The fact still remains that you may still lose your purse or bag, but with a currency card you can rest assured that your money will be safe. Not only do prepaid currency cards provide the best exchange rate, they also offer money protection. If you lose your card, you can email the customer service representative and get a new one with the old balance transferred into it.
Other Advantages of Currency Cards
Avoiding terrible tourist rate exchange is not only where you can get great savings. Withdrawal fees, loading fees, and other possible added charges are generally lower compared to the traditional credit and debit cards. Prepaid currency cards also come with the usual debit card features such as possible reimbursement of purchases.
Order a FairFX card now to save on your holiday money.
Tuesday 22 June 2010, 04:04pm
If you have a holiday planned then before you go away you will probably want to sort out your holiday spending money. One of the problems that many of us face when going abroad is knowing where and how to get the best exchange rate when we go away. Below are a number of ideas for getting your travel money.
Tip 1: Buying Currency
Many travel agents will tell you that you can buy your currency from them and that when you return, they will change back notes over a certain denomination e.g. twenty euros. At the moment there is not that much difference in value between the pound and the euro although the exchange value changes every day. Buying currency from your travel agent is useful if you haven't had much time to sort out your travel money. If you don't want to take a pocket full of cash away with you then you may want to consider getting some travellers cheques.
Tip 2: Travellers Cheques
The main advantage of buying travellers cheques is that you are not carrying around a lot of cash. If you lose your travellers cheques or they are stolen, the company will get you some more. One of the problems with buying travellers cheques is that many hotels and exchange offices will charge an extra commission on tourist exchange rates when you use traveller's cheques.
Tip 3: Credit Cards
If you don't want to take a lot of foreign currency away with you, or deal with travellers cheques then you can use your credit card. A credit card is more convenient as you can get cash out of an ATM machine whenever you need it. You will be charged for borrowing money on your credit card and there is usually a charge for using ATM machines abroad.
While all of the above tips are useful and viable ways of getting your travel money sorted out, each option also has its drawbacks. There is a cheaper and more convenient way of getting your travel money, and that is by using a currency card. Currency cards are quite new and issuers charge different percentages for using them, nevertheless the charges are usually a lot lower than borrowing on your credit card and using an ATM machine.
A currency card is a prepaid card, which means it works in the same way as a credit or debit card, once you have loaded the money on it. Probably the best place to get your currency cards is online as you can also add more money online or by phone if you prefer. When you use a currency card there are no ATM charges, and the cost of the card is minimal when you compare it to borrowing on a credit card. A currency card is a convenient and cost effective way of getting your travel money and obtaining the best tourist exchange rates.
A FairFX card gives you better exchange rates and more security than other options for taking money abroad. Apply for your card today to save money on your next trip abroad.
Wednesday 28 April 2010, 10:26am
A FairFX prepaid card gives you much better tourist currency rates that you would get at the airport on on the high street, as well as giving you added security. Order you card now and see how much you could save.
There are several options for buying foreign currency before you take a holiday or trip, but tourist currency rates can vary greatly, when it is time to make a currency exchange. You might need to convert the £ into the foreign currency you need for your holiday, but the Post Office, HSBC and Travelex Heathrow aren't the best tourist currency rates you can find because prepaid cards offer the best options. The other thing to consider besides getting better exchange rates with prepaid currency cards than you can when buying cash, is that they are much more secure, making them the best option for your holiday spending. You can avoid sky high tourist currency rates by using a prepaid card and they are convenient to use, as well.
How Does A Prepaid Card Work?
The prepaid cards are actually a prepaid MasterCard that you can spend in any hotel, eatery, pub or shop, yet you can get currency, if you need to. Most people that need to make a currency exchange will find they might be faced with sky high tourist currency rates at some of the traditional exchange bureaus, especially if you have a need to do it in a foreign country. It is easy to open an account in a matter of minutes and it is part of the initial currency exchange purchase so you can easily make a bank transfer and choose a prepaid card, or choose to have money transferred to your foreign currency bank account or get the banknotes delivered to your front door, should you prefer. Of course, the prepaid card is a secure option that offers convenient access.
Why Is The Prepaid Card The Most Affordable?
Because it is an Internet-based business, there isn't the rent overhead that is involved with exchange bureaus and even the kiosks have high space rental fees to cover. With the prepaid card, there isn't overhead so there is no commission, like many of the other options. You can avoid the worst tourist currency rates with the prepaid card and it is so easy to open an account and get the most secure option for your holiday trip, no matter where you might decide to visit. Because of the high volume of currency exchanges, you also save because, with the prepaid card, you get the benefit of the best two-way negotiated tourist currency rates on 21 different currencies.
Can You Lock In Tourist Currency Rates?
With the prepaid card for your holiday in a foreign country, you can exchange currency before you go and avoid the fluctuating tourist currency rates. This can help you lock in your spending and stay within your budget, but it can help you avoid sky high tourist currency rates you would encounter, should you wait to make an exchange during your holiday travels. Not only does the prepaid currency card offer you a secure and convenient option, but it is the best way to avoid high tourist currency rates, when you are ready to go on a foreign holiday. Order your FairFX card now.
Wednesday 21 April 2010, 12:23pm
A FairFX Prepaid Currency Card gives you better rates and security than buying tourist currency from the airport or a high street Bureau de Change. Compare our exchange rates now, and see how much you could save!
You might consider several options for buying foreign currency before you take a holiday or trip, but finding the best tourist currency exchange rates takes a little research. You might think of the traditional ways to get the best tourist currency exchange rates but they won't give you the best value for your £. When you are ready to leave for your holiday trip and want to take advantage of the best tourist exchange rates, there are options you might not be familiar with, but they offer better advantages than any of the other options you will find. How can you avoid overspending on tourist currency exchange rates?
Consider The Advantage of Prepaid Currency Cards:
Because the tourist currency exchange rates are only part of the conversion formula, you have to consider that many places will charge commissions or fees, besides giving you less traded currency for the £. When you are converting your home currency to any one of 21 different foreign currencies, the prepaid currency cards can help you avoid overspending on tourist currency exchange rates. Because you convert your currency easily through an Internet-based company, there aren't commissions and the conversion rate is much better because there isn't the overhead you encounter with the Post Office, HSBC or the Travelex Heathrow options.
The Most Secure Option Offers The Best Tourist Currency Exchange Rates
The prepaid currency card is more secure in your travels because it is protected with a chip and PIN, yet is still easy to use because they are a prepaid MasterCard that spends just like any other credit card, or you can easily access the currency at ATMs. Not only do the prepaid currency cards offer the most secure option for your foreign holiday travel, but you enjoy more spending ability than you can with other foreign currency exchange options. Getting more money for your holiday means you can avoid overspending on exchange rates because you are getting the best tourist currency exchange rates you will find from any of the other options available.
Easy To Open Accounts And Exchange Rates That Are Ahead Of The Pack
When it is time to leave on your holiday, tourist currency exchange rates might not be the first thing on your mind until it is time to get the best value for your £, when it is time to convert it into the currency of your choice, based on your destination. It is easy to open an account in a matter of minutes, by using the Internet and you can make a bank transfer and choose 3 options for your currency conversion. However, the prepaid currency cards are the most attractive choice because they are easy and secure to carry and convenient to use, wherever your holiday might be. When you want the best tourist currency exchange rates, they offer the best rates you will find from any of the other traditional options you might think of and prepaid currency cards offer other advantages, as well. Apply for the FairFX Currency Card today, and see how much you could save.
Thursday 01 April 2010, 10:09am
As a traveller or tourist, you’ll need to get used to using foreign currencies (or at least using different types of payment). When leaving the country there are many options in terms of what kind of money you can take with you. It’s not recommended to take credit cards. Some better choices include travel cash, bank transfers, or currency cards. They each have their advantages but it’s important to know about the exchange rate tourist before you go anywhere.
No matter where you travel to, you’ll need to exchange your country’s currency for the currency used in that specific country. The reason we have to do this is because all types of currencies are not created equal. But there is a charge for exchange rate tourist. These exchange rates are commonly known as foreign exchange rates or FX rates. Different places will exchange money for you but everyone has their own price. Depending on where you exchange your money, you may be paying skyrocketed prices.
There are many places to exchange your money when travelling. Some examples of places you can go to exchange your money include airports, banks, and kiosks. Keep in mind that these places are expensive and the exchange rate tourist will vary. They often offer a terrible exchange rate because they know they can get it from travelers who need the currency they offer. Likewise, they’ll take a percentage above and beyond the exchange rate. You can often find better exchange rates online and get your exchanges done conveniently and inexpensively. Who doesn’t like convenient and cheap?
You will come across places that offer no commission exchanges or no fee exchanges, but this is just a way to get your business. It costs money to exchange money and there are no exceptions for anyone (not even that company with the pop up who promises to give you everything for free). Everybody knows nothing, or almost nothing, is free. How that works is they hide the fees in the high exchange rate tourist they charge. The best option is to exchange your money beforehand. That way you don’t have to worry about whether you’re overpaying.
With FairFX, you can get some of the best rates around, since we trade directly in the wholesale currency market, and are based completely online, so we save on overheads. Have a look at our rates, and see how much you could save on your next trip!
Tuesday 09 March 2010, 09:49am
If you use the FairFX travel money card, you will get much better tourist exchange rates when you're abroad. Compare our rates now, and see how much you could save!
Here is a look at the various tourist exchange rates you will get with different options.
Cash, although simple to use, is not very secure. If someone were to steal the cash you have on you, you are just out of luck, as there is no way of getting it replaced. If you do decide to be brave and use cash anyways, you will still need to exchange it for the local currency used in the country you are visiting, so you will need to look at the tourists exchange rates to see how much your money is worth in foreign currency. If you are using a popular currency like the Euro or US Dollar, you may not have to convert it, as many businesses will likely accept it. But you won’t know until you get there and this of course depends on where exactly you will be traveling to.
Another option is to use a credit or ATM card. Using a card is a secure, fast and convenient to buy travel money at the best tourist exhchange rate. If your card gets stolen, you can have it cancelled with a quick phone call and a replacement card will be on its way. The one downside to credit cards is the accumulating interest that will build up over the course of your travels, unless you plan to pay the card off in full that month. ATM cards are just as convenient, but depending on where you are going, it may be hard to find an ATM machine to use.
Another currency exchange tourist option is to use a prepaid travel card. This option will give you perhaps the best tourist exchange rates possible, usually 2-8 percent better than using cash or traveller’s cheques. These will be accepted anywhere that Visa and MasterCard are taken. These cards are just as easy to use and carry as credit cards and offer even better security with a prepaid limit, which means that the rest of your account isn’t accessible to thieves.
Apply today with FairFX, and see the great rates we offer with prepaid currency cards.
Monday 08 March 2010, 09:46am
If you are planning to take a trip out of your resident country, then money is usually your first concern. Not just the cost of the trip, itself, but the expenses you will incur while you are there. This generally entails knowing the currency of the country you are going to as well the tourist exchange rates.
It is very important to know how your money compares to the local currency of the area. This is vital information for properly being able to plan for your trip. It could ruin everything if you arrive somewhere and realize you did not set aside enough money for necessities. You need to know if your dollar is worth more or less than theirs.
There are many different ways in which you can discover this information. Many local and cable news channels report it on a daily basis. It is usually carried in the morning news reports. This can be helpful, but only to a certain degree, since it is not updated in real time.
Many banks also provide this information freely to their customers. Finding out the current rate, at least as current as they list it, could be as easy as walking in or calling to ask. Some of them even offer exchange services, so you are ready, before you leave for your trip.
The drawback to both of these is the lack of real-time information. Currency rates can fluctuate on a daily basis and throughout any given day. It would be horrible to arrive at your destination and find out the information you had received is now no longer accurate.
Thankfully, you do have several options that you can use to avoid finding yourself in such a situation. There are many Internet sites that offer real-time currency exchange information. They use automated processes to make sure they offer the most up-to-date information possible.
This means that you get the latest exchange rates, right when you need them most. Regardless of where you are going, this makes it easy to find the information you need in seconds. All it requires is a little of your time using an online search engine.
To get as colse as possible to these interbank (spot) rates, try using the FairFX prepaid currency card. We are an online business with lower overheads, and we trade directly in the currency markets, so make great savings which we pass on our savings to the customer. Apply today before your next trip.
Friday 26 February 2010, 03:16pm
If you are going to be traveling abroad in the near future, you are going to want to find the best tourist exchange rates that you can possibly find. Obviously, you will have to convert your currency to something that will be accepted by the local businesses. There are different options of conversion available and each one will give you a different exchange rate. This is why you need take the time to research each one so that you get the best rate possible.
Make sure you check rates before your trip
No matter which option you choose, in order to get the best tourist exchange rates possible, you need to look and see what the current currency exchange rates are. These can change slightly on a daily basis, and if you are going to be in a foreign country for a longer amount of time, you should check these rates more than once, just to keep yourself current on what is going on. There are a number of online tools that are designed especially for the purpose of converting currency, like xe.com, and they are regularly updated so you can be assured that you are getting the most up-to-date exchange rates.
Traveller's cheques: not quite dead yet
Another you can do to ensure that you are getting the best tourist exchange rates possible, is to research the various options of paying for things while travelling overseas. You can carry cash, which can then be converted to the local currency, but if it gets stolen, good luck getting it replaced. You can go the safer route and use traveler’s cheques, which are safer than cash because if these get stolen, it just takes a little time and effort to get replacement checks. Traveller’s cheques can be expensive, however, with service charges and other fees, like paying to have them shipped out to you.
Bank cards often carry hidden charges
Using credit cards or ATM cards seem to give you the best tourist exchange rates, especially when you compare them to cash and traveller’s cheques. These cards are easy to carry and are very convenient. The downside to using them, however, are the hidden charges, which add up over the course of your travels, and ATM machines may be hard to come by on foreign soil.
Get much better value rates on prepaid cards
The best alternative is to use a prepaid travel card, where you put money on the card and use it like a credit card. This gives you the best exchage rates, and is more seucre than having all your funds avaiable, should you card be compromised. Have a look at FairFX's holiday money cards and see how much you could save.
Friday 26 February 2010, 09:53am
