Prepaid travel cards proving popular down under

One of the most annoying aspects of taking a trip overseas is being charged by banks to access your own cash.

The thought of carrying a suitcase full of money is not very appealing, as the chances of it getting lost or stolen are relatively high, so we are forced to pay extortionate fees to use ATM machines.

However, leaders at consumer group Choice have suggested that prepaid travel cards are now more popular than ever among Australian tourists and businesspeople.

Speaking to Financial Review, spokesperson for the organisation Ingrid Just insisted that the security and convenience of plastic products has made them very appealing.

She said there has been double digit growth in the number of people securing a travel debit card in recent months, as people are fed up of having to pay in order to access their money while on holiday.

Taking out certain travel credit cards means you will receive the best exchange rates even if the value of the currency you are buying has dipped by the time you head abroad.

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