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Prepaid cards 'can save travellers money'

Debit and credit card holders can save money when withdrawing cash abroad by using a prepaid currency card, according to a foreign exchange company.

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19 June 2009

Prepaid cards 'can save travellers money'”

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Caxton FX revealed that charges for withdrawing money overseas often add up with as much as £6 in every £90 spent on credit card charges.

The company suggests that travellers can use the Caxton FX Global Traveller card to save money on transactions.

Users load the card in advance with sterling and it can then be used like a debit card.

However, unlike a debit card, holders are not charged transaction or ATM fees when they use the money to pay for items.

The company offers three prepaid currency cards which cover 17 different currencies for long-haul travellers.

Called the euro, the dollar and the Global Traveller, the cards can bring significant savings to travellers.

The Post Office also offers the Travel Money Card which can be used for payments across the world, with a maximum withdrawal of £500 a day.

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