Expert: Choose the right time to purchase currency on a prepaid card
Brits should wait until the exchange rate looks favourable before loading their card, says expert
Expert: Choose the right time to purchase currency on a prepaid card”
UK holidaymakers should carefully choose the time they purchase currency on their prepaid card, according to a leading financial expert.
Rosie Murray-West, writing for the Telegraph, advised Brits to apply for a prepaid card before travelling overseas as they don't require any credit checks.
Furthermore, Ms Murray-West underlined the flexibly of prepaid cards as users can buy them in euro or dollar denominations, or opt for a global card if they are travelling elsewhere.
However, it is important for Brits to maximise the return on their investment by achieving a good currency exchange rate, the expert added.
She said: "The advantage of these [prepaid cards] is that with the euro or dollar cards you set the rate the day you purchase the currency, so you can wait until the exchange rate looks favourable before loading your card."
One option for British holidaymakers is the FairFX prepaid card, which charges no spending or foreign 'loading' fees.
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