Pre-paid travel cards 'can help you save money'

Friday 03 August 2012

Article by Mozo

Using a prepaid travel card instead of your usual credit or debit card can help you save significant sums of money during your holiday.

Financial journalist Andrew Hagger has warned tourists that using standard plastic products when overseas can be a very costly affair.

Banks are often very reluctant to publicise how much they charge for people to utilise their credit cards in a foreign land – often because the rates are extortionate.

"Once you've worked out what it's going to cost you take a look at the prepaid cards – you'll find a marked difference to be honest," Mr Hagger remarked.

He also advised travellers to load foreign currencies on to their cards, as this will guarantee they receive the best exchange rates.

For example, if you decide to put $800 on your card, there is every chance you will receive a worse rate than you would have had you loaded it with euros, American dollars or whatever currency is required during your trip.

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