Cookies: We use cookies to improve your experience on this website. By continuing to browse our website, you are agreeing to use our site cookies.
See our cookie policy for more information on cookies and how to manage them.

Privacy: You can see the full details of how we use your data in our Privacy Policy.

Date: 28/06/2019

The Benefits of Using a Travel Money Card Abroad

If you have plans to travel abroad, you may be wondering which money management method will best meet your holiday spending needs. Carrying large amounts of cash is clearly not the most secure option. However, many credit and debit card companies apply some hefty charges for using your card abroad. A travel money card is a popular, more cost-effective alternative.

Travel money cards are easy to use

Prepaid travel money cards can be loaded with cash in the same way as you would top up a pay-as-you-go mobile phone or an Oyster card. Most come with a handy app allowing you to top up, send money and manage your wallet on the go. A prepaid travel money card is one of the easiest ways to handle a variety of payments abroad. Managing your account is seamless and you can activate several special permissions, which will help you to further ensure the security of your travel budget.

Supporting multiple currencies

Most travel money cards already support sterling and euros, and additional currencies are becoming available with increasing frequency. With some cards, you buy the currency you require at fixed exchange rate at the time you load your card. With other cards you load in sterling and let the card do the rest using the rate of exchange at the point of sale - with this option if you have any money left over you can use it within the UK when you arrive home and not have to worry about changing it back. The best travel money card companies provide their customers with access to some of the most competitive rates. They often beat the high street banks and airport kiosks by between 4% and 8%.

No hidden fees

Travel money cards act just like a normal debit card. They allow you to make both online and point-of-sale payments domestically and internationally without incurring any additional fees. If you choose to withdraw cash from your prepaid card via an ATM, a small fee will be applied from the issuer and sometimes when abroad a local fee may apply. Wherever card charges do apply, these will be communicated in a clear and transparent way, so you know you are getting the best value out of the product.

A safe and secure way to travel with money

Carrying large amounts of cash is never a good idea, and with modern point-of-sale technology, isn’t necessary. You can rest assured if your travel money card is lost or stolen, calling your card company’s customer service line or accessing your account online or via the app will allow enable you to block your card, request a new one and thereby instantly protect your money.

Access money anywhere

You can use your travel money card in millions of locations across the globe. With a few exceptions, such as at pay-at-the-pump fuel terminals and for payments over the phone where the cardholder isn’t present, you will be able to make purchases and access your money regardless of where you are in the world.

Works with contactless technology for easy payments

The ability to make contactless payments for smaller purchases has streamlined the shopping experience in recent years. Prepaid cards support this technology too. Your transaction will be completed instantly in the local currency from your available card balance.

A simple way to manage your money more efficiently

The opportunity to instantly view your transactions will help you to keep on top of your travel spending. This ensures that you can fully enjoy every single second of your time abroad. Many existing users of travel money cards appreciate that this method prevents them from overspending. Plus, the lack of an overdraft facility means that there is no chance of inadvertently slipping into the red.

The flexible reload options available make topping up a breeze. If you do notice that your funds are running low and you want to make sure you have enough available cash to do everything you want while you’re away, this money management method means you won’t have to compromise.

Get access to a new secure account area and Mastercard® travel spending card when you buy travel insurance from Create your account and register your card today for easy access to your money anywhere in the world!