Thinking About Travel Money Cards - Which Card Is Worth The Money?

Posted by Lee Wilson

January 18, 2010

Even though travel money cards are relatively new, their popularity is quickly increasing. With this in mind, this article is designed to help you understand why they were developed, why the are usually better than any credit or debit card, and which card is the best value in travel money cards.

Travel money television advert

The old accepted travel money vehicles - travellers cheques and credit cards

If you were going to be traveling anywhere, then it was always the rule of thumb and safety to get travelers cheques. This was the easiest way to access your available cash and you could have some security if your money was stolen. But travelers checks have been on the decline since most banks now make it very easy to use your debit or credit cards, worldwide.

And yes, this made accessing your cash easier, but at what price? Many financial websites exposed the banking institutions trickery and people have learned how much their banks were charging them for an overseas purchase.

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 cards will revolutionise the foreign exchange industry

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.

As more and more people began preforming different tasks using the Internet, a market that was previously only available to banks opened up for the majority of businesses.

Fair FX was one of the very first travel money cards to hit the market

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.

When you load a FairFX travel money card, you lock-in whatever the currency exchange rate is at the time. With this in mind, there are times when this is beneficial, and other times when it can cost you. You can still obtain these cards today.

Many individuals do not care to speculate with travel money

However, others like the idea of possibly getting more out of their travel money. With this in mind, they deal with the ever changing exchange rate whenever they make a transaction, instead of simply buying their travel money in advance.

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.

You Can Explore the World with A FairFX Anywhere Card!

FairFX realized that the general public still did not understand that they were paying too much in bank fees by using their standard credit card when they went overseas.

FairFX realized they could step in and create a card that anyone in the world, from just about anywhere in the world could use without having to take out a second mortgage on their home just to access their money! And now we can explore the world with the FairFX Anywhere Card.

What is the charge for the typical consumer to use this card?

This card, believe it or not, does not charge for loading, atm use, or the exchange rate. The sole fee is a 1.5% transaction charge, which according to our records renders this travel money card the best one of its kind.

At the present time, there is no charge to acquire this card, and you are only required to make a minimal initial deposit to get started. But there is no guarantee this will not change soon, so it would be a good idea to acquire this new card while it is still free.

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 get more holiday money with FairFX travel money exchange!!

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