Prepaid currency cards 'could curb overspending on holiday'

Using a prepaid card could help travellers stick to a budget and avoid overspending on holiday, a price comparison site has advised.

By Southall Travel -Thursday, June 25, 2009 03:51 PM

Prepaid currency cards could curb overspending on holiday

Using a prepaid card could help travellers stick to a budget and avoid overspending on holiday, a price comparison site has advised.

"By taking the time to shop around before you go and deciding which prepaid card suits your needs best, you can save a bundle on your holiday spending money," said Peter Harrison, head of travel money at moneysupermarket.com.

He explained that prepaid currency cards "consistently" offer competitive exchange rates as many do not have any transaction fees to pay.

Compared to a debit or credit card, holidaymakers could find they can make a saving of around £20 for every €500 (£427) or $500 (£305) spent while on a foreign trip.

However, he advised travellers to make sure they research the market to ensure they are getting the best deal for their sterling.

According to Stephen Heath, chief executive at FairFX, passengers should never exchange their travel money at the airport before they get on their flight to Australia or other destinations.

It could mean forking out an extra five per cent or more, he added.
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