When visiting a country abroad, travel money is an important factor to keep in mind. These funds will provide the security and necessary liquidity to enjoy any stay. There are many alternative types of money. Let us take a look at the most common.
A traveller’s cheque is a personalised cheque that will enable an individual to enjoy an alternative to cash or a credit card. As each can only be used with the owner in question, they are considered to be extremely secure (and they are also insured in the event of theft). Many businesses will accept a cheque as a form of unconditional payment; much in the same way as cash is used. These cheques can be purchased from a number of locations. Credit card companies will normally supply them and many post offices within the United Kingdom print their own cheques.
Prepaid Travel Cards
A prepaid travel card can be used as a direct replacement for a debit or credit card. There is a fixed limit available that is determined beforehand and as these cards are not linked to a bank account, such an alternative is extremely secure. Still, they can be used to pay for a variety of goods and services while they can also withdraw money from a standard cash point. The easiest way to purchase such a card is through any credit card company; a simple Internet search will provide a host of options.
Foreign cash is another safe form of currency when travelling abroad. The primary advantages (particularly for those within the United Kingdom) is that these rates are often quite favourable. Also, foreign cash is universally recognised within the country in question; this may not always be the case with traveller’s cheques. Currency exchange centres will supply this money, but it is wise to avoid those at major travel hubs such as an airport; they may charge high commissions.
How to Get the Best Deal on Travel Money
There are several steps to find the best deals on travel money and these will depend upon the choice in question. For example, being aware of current exchange rates will enable one to encounter the most amenable provider. Other suggestions include:
- Examining the costs of prepaid travel cards.
- Determining if there are hidden fees involved.
- Making certain that traveller’s cheques are accepted at the destination abroad.
- Choosing companies that supply ample levels of customer service if a problem occurs.
- Knowing whether the travel money is insured in the event of loss or a theft.
Appreciating these metrics is important to make the most relevant choice before enjoying a holiday abroad.