Multi-currency cards could become very popular

Mozo

Tuesday 20 March 2012

Aussies are increasingly looking for the best travel money card deals when planning a foreign holiday.

While it is good to have a certain amount of overseas travel money in your pocket, it is far safer to carry the bulk of your cash on a plastic card, as these can be cancelled if they are lost or stolen.

Holidaymakers and business travellers are benefitting greatly from new technological developments and arguably the most impressive to date is the multi-currency card.

Offered in the southern hemisphere by the likes of MasterCard, these packages are perfect for frequent travellers who visit different parts of the world on a regular basis.

According to managing director of Global Prepaid Exchange Kevin Harrington, one single card can contain up seven "purses" – containing a different currency for each country you are visiting.

"If you went to the US and put the card into a machine there, it says 'you're in the US, you're being charged dollars, have you got money in your dollar account?" he commented, before comparing the system with traveller's cheques.

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