Here comes the vacation season and there is not any reason why you should not be looking for the best vacation destinations all over the world in which to rest and recuperate. Nevertheless, if you are a seasoned traveller, you would definitely be looking at the financial and safety aspects of carrying all that lovely money to be splurged during your vacation, with you.
So, you need to look at these tips which are going to get you the best exchange rate in high street travel money while ensuring that your money is carried to your destination safely!
Further Your Horizons And Get Better Value Online
There was once a time when you are just limited to a given number of money exchange options. You could either convert your home currency into pounds, at your nearest bank or money exchange facility. Nevertheless, you would be surprised to know that there are plenty of places online, which are going to give you a higher rate of exchange, especially when you are changing desirable foreign exchange currency like euros and dollars into pounds.
Traveller's cheques
The days of traveller cheques are fast disappearing. Traveller cheques are secure, but buying them is rather expensive. You would need to pay the service charges to the bank to make out these cheques. You will have to take these bulky cheques to a branch of your bank, while travelling abroad and get them cashed. Until that is done, you will have to make do with the cash you brought along with you for incidental expenses.
Credit Cards And Debit Cards
These are definitely a good way to get easy access to money, but every transaction done on an ATM is going to cost you. And just imagine that you are travelling in a rural area which does not have an ATM. So what are you going to do for money? You also need to notify your banks that you are using their debit cards abroad. Otherwise, you might find your debit card swallowed by the ATM, and confiscated as a case of ATM fraud!
So what is the best travel money option which is going to be safe, and secure?
Try Prepaid Currency Cards
Remember that any person waiting to reach his destination before he exchanges his home currency into pounds at Heathrow Airport or Gatwick is just asking for a lower exchange rate. So why do not you go online and try prepaid currency cards, which are going to give you a much better exchange rate than buying pounds in cash to carry along with you? Not only is this a safer option, but you are secure in the fact that you are not carrying that load of lovely lolly around with you in your money purse.
This is definitely not a sensible option, especially when you have exchanged all your travelling money into cash. Just imagine you being mugged on the streets of London in the worst case scenario! That leaves you high, dry, and wiped out in terms of ready cash.
With prepaid currency cards, you just need to load your money on to a pre-paid currency card. Use it as you would a credit card, to make purchases in shops, or like a debit card at ATMs. This is definitely the safest way in which you can carry your bank account along with you, while travelling to the UK! So what are you waiting for? Get a FairFX prepaid currency card now.
Monday 12 April 2010, 09:36am
Thanks to the hassle that is involved with trying to cash travelers cheques and the huge fees that are involved with exchanging your homeland currency for currency in other places of the world, more people are searching for reasonable alternatives to getting local currency while on holiday or while taking a business trip. Most people do their research and ultimately decide to buy travel money online.
The ability to buy travel money online is something that is catching on with waves of travelers, though it is not necessarily a brand new idea. This option has been available for awhile, but as more people become comfortable making online transactions and giving their private and financial information through websites, there are more people who are also comfortable enough to buy travel money online.
Why Buy Travel Money Online?
The primary reason that anyone would want to buy travel money online is obviously to save cash, especially if you decide to purchase a reloadable prepaid credit card. The following steps should be taken if you want to purchase your prepaid travel money card online:
1) Do some research to find the lowest currency exchange rate and as few fees possible.
2) Purchase your travel card with a substantial amount of money on the card.
3) Use the card while on holiday or throughout the course of your trip.
How to Purchase Prepaid Travel Cards
This first step is extremely important, though it is the first thing ignored by many people whether they buy travel money online or offline. Many people just take it as a given that they are going to have to pay some fees and a high exchange rate when they are buying holiday cash. What they don't realize is that they can save a substantial amount of cash just by going online and doing a bit of research prior to purchasing their travel money.
If you aren't totally convinced that a prepaid travel money card is the way to go, see what kind of exchange rates you can get through several different card options and compare to the fees and exchange rates being offered through banks. You will see quickly that the travel card is definitely the way to go, even if it's only due to the increased security of having a card which can be replaced with all your money intact in the event it is stolen or lost!
Locking in the Savings
Once you find a prepaid travel card that will give you a competitive exchange rate, go ahead and buy travel money online on that card. You want to put a substantial portion of your travel money on the card since you are locking in that exchange rate at the time you place the money on the card. That means they can't raise the exchange rate on you later on, which is what will likely happen if you run out of money and need to exchange money while on vacation or a trip in another country.
If you put enough money on your prepaid card and use it as often as possible while on your trip you will eliminate the problem of trying to exchange money at a foreign bank. You will also avoid the super high fees that come with using your regular credit and debit cards while out of the country. Finally, you avoid the fees that come with withdrawing money directly from a bank ATM while away from home.
Friday 09 April 2010, 03:45pm
Before going on holiday or taking a trip abroad there is often so much to think about. With so many things to plan it makes sense to ensure that you are getting the best rates of exchange for your money. If you can find a great exchange you will find that you can purchase much more foreign currency. So, how can you go about doing this?
Check out rates to find the best rates of exchange
To start with you will probably want to know what the exchange rate is for your particular currency. Rates will vary between money exchanges, so it really does pay to do your homework before you even consider buying currency. One really good way to find out the best rates of exchange is to go online and find a currency converter that is linked to the current exchange rate. Here you will be able to see what the current rate of exchange is and this can give you a good idea of what to expect when it comes to purchasing your foreign money.
Purchasing your foreign currency
When it comes to purchasing your foreign currency you will, naturally, want to go to the best place possible, where you can get more for your money. You might be surprised to learn that exchange can vary between different money exchanges, so you need to know which has the best rates of exchange.
Banks will typically offer a reasonable exchange rate, as will post offices, but this can sometimes be lower than other sources. You might also find that when it comes to having any unused currency converted back to sterling you have to pay quite a large percentage.
Travel agents are another very well known place to purchase foreign currency from and here you will find that the exchange rate will vary on a daily basis. Whilst this can be a good way of getting the best rates of exchange you could find yourself having to wait for this to happen. Obviously, this is no use to you if you plan on travelling in the very near future.
Prepaid currency cards are now considered to be one of the most straightforward and best rates of exchange. Using prepaid currency cards is so easy as they work in very much the same way as a prepaid debit card. You simply obtain the card, load it with money and then you can use the card while you are on holiday. If you run out of money during your trip you can easily top up your card and have more currency to spend.
Which is the best method?
If you are looking for a totally flexible way to purchase your currency and take advantage of the best currency rates a prepaid currency card is ideal. Not only can you use it just like a credit card you can also benefit from the best currency exchange rate when you load the card. So if you want to get the best rates of exchange for your money opt for a prepaid currency card and get more for your money.
Friday 09 April 2010, 10:10am
