Chewing Over Travel Money Cards - Which Card Is Lowest Cost?
Travel money cards have recently hit the market and they are becoming extremely popular. Now, you may be asking yourself, what exactly is a travel money card and how do they differ or how are they better than my old debit or credit card?
Old forms of travel money - travelers cheques or bank cards
Until now, the standard issue for taking a trip was regular travellers cheques. Before foreign ATMs began cropping up all over the world with their ease of use, the most efficient way to access your cash was travellers checks.
Because of the abundance of information available on internet financial sites, the average person is now much more savvy about the various miscellaneous fees that banks assess on their customers.
It is important to understand that the high ATM fees and exchange rate fees are so high because of the overhead a bank has to cover. For example, it costs banks a lot of money to maintain branches that are high street based.
How travel money has evolved
Recently banking technology has made some tremendous advances in speed and performance. The use of the internet by the general public has become mainstream. Therefore people are no longer hesitant to make use of the internet to take care of their money.
This explosion in public acceptance of the internet has created a financial niche which in the past was available only to banking institutions.
The FairFX Travel Money Card
When this market opportunity opened up in the travel money industry, the financial gurus at FairFX.com sensed that a need could be filled very profitably by providing the public with an economical travel money card.
In the beginning FairFX provided 2 travel money cards. The one card used US dollars, while the other was in euros. These cards were designed to charge about 1% on exchange rates, charged nothing for making purchases, and only charged $1-$2 at ATMs.
The procedure for these two cards is to guarantee the currency exchange rate in force at the time that you designate, and this guarantees that you will keep this rate. Occasionally you win, occasionally you lose. These products are still out there.
Many individuals do not care to speculate with travel money
And that makes sense, since they may have a limited amount of travel money to go places with. They would like to be able to use their travel money at whatever exchange rate their current currency is going for so that is what they choose to do.
Many people did not understand that using their FairFX dollar card in Europe actually saved them money when compared to using a regular bank card. Due to this, a simpler travel money card had to be designed; one that could be used anywhere in the world and that would save travelers money when compared to their bank card.
The new FairFX Anywhere Card
FairFX saw that there were too many people not seeing the benefits of a travel money card, people were continuing to waste money by paying high charges anytime they used their bank card abroad.
The decision was made to provide a product which was accepted universally, without the consumer having to deal with exorbitant fees on each transaction while on vacation. But now we have the FairFX Anywhere Card
What costs are associated with using the FairFX Anywhere Card?
When you use a FairFX Anywhere Card you pay ZERO loading fees, ZERO ATM fees, and ZERO exchange rate fees. The only charge you pay is a 1.5% transaction fee. This makes it the cheapest travel money card available to residents of UK.
When this article was written, the card was free to order. It only takes 10 pounds to load it up as well! If you still want to get this free travel card, it would probably be a good idea since this offer won't last forever! - 23162
Old forms of travel money - travelers cheques or bank cards
Until now, the standard issue for taking a trip was regular travellers cheques. Before foreign ATMs began cropping up all over the world with their ease of use, the most efficient way to access your cash was travellers checks.
Because of the abundance of information available on internet financial sites, the average person is now much more savvy about the various miscellaneous fees that banks assess on their customers.
It is important to understand that the high ATM fees and exchange rate fees are so high because of the overhead a bank has to cover. For example, it costs banks a lot of money to maintain branches that are high street based.
How travel money has evolved
Recently banking technology has made some tremendous advances in speed and performance. The use of the internet by the general public has become mainstream. Therefore people are no longer hesitant to make use of the internet to take care of their money.
This explosion in public acceptance of the internet has created a financial niche which in the past was available only to banking institutions.
The FairFX Travel Money Card
When this market opportunity opened up in the travel money industry, the financial gurus at FairFX.com sensed that a need could be filled very profitably by providing the public with an economical travel money card.
In the beginning FairFX provided 2 travel money cards. The one card used US dollars, while the other was in euros. These cards were designed to charge about 1% on exchange rates, charged nothing for making purchases, and only charged $1-$2 at ATMs.
The procedure for these two cards is to guarantee the currency exchange rate in force at the time that you designate, and this guarantees that you will keep this rate. Occasionally you win, occasionally you lose. These products are still out there.
Many individuals do not care to speculate with travel money
And that makes sense, since they may have a limited amount of travel money to go places with. They would like to be able to use their travel money at whatever exchange rate their current currency is going for so that is what they choose to do.
Many people did not understand that using their FairFX dollar card in Europe actually saved them money when compared to using a regular bank card. Due to this, a simpler travel money card had to be designed; one that could be used anywhere in the world and that would save travelers money when compared to their bank card.
The new FairFX Anywhere Card
FairFX saw that there were too many people not seeing the benefits of a travel money card, people were continuing to waste money by paying high charges anytime they used their bank card abroad.
The decision was made to provide a product which was accepted universally, without the consumer having to deal with exorbitant fees on each transaction while on vacation. But now we have the FairFX Anywhere Card
What costs are associated with using the FairFX Anywhere Card?
When you use a FairFX Anywhere Card you pay ZERO loading fees, ZERO ATM fees, and ZERO exchange rate fees. The only charge you pay is a 1.5% transaction fee. This makes it the cheapest travel money card available to residents of UK.
When this article was written, the card was free to order. It only takes 10 pounds to load it up as well! If you still want to get this free travel card, it would probably be a good idea since this offer won't last forever! - 23162
About the Author:
Be advised that for the moment FairFX has a special offer going which offers you a free euro, dollar or sterling card (normally 9.95) which just requires a small minimum initial load. So what are you waiting for? Get your own travel money card and start saving even more money today!
posted by X - Men @ 2:34 AM
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