What's the best pre-paid travel card to use abroad?

When going abroad, there's a lot of things to plan before you go. Most of those will vary wildly depending on where you're going (Catching the cherry blossoms in Tokyo? Swimming with dolphins in the Maldives? Living like a local in Austin, Texas? The sky is the limit!). But one thing that can make your trip much more relaxing is making sure that you have your travel money sorted before you go.

Pre-paid travel cards are increasingly popular, and for good reason. Compared to other options like cash or credit or debit cards, pre-paid travel cards offer more convenience and allow you to relax and enjoy your holiday.

Why should you use a pre-paid travel card?

There’s many reasons why you’d want to use a pre-paid travel card, but the most common ones are security, better exchange rates and convenience.

Pre-paid travel cards are more secure

When it comes to security, a pre-paid travel card is one of the safest options. If you lose cash or even have it stolen, there’s no way to get it back. And while you can cancel a debit or credit card, it can be risky to leave others with access to your bank account or line of credit even for a few hours. With a travel money card, you can easily cancel and replace your card, and since you’ve loaded a specific amount, less of your money is at risk.

Pre-paid travel cards give you a better exchange rate

Exchange rates differ wildly depending on where you go. While everyone’s working from the same base line, the rates offered can vary depending on many factors. For example, if you get your cash at the airport, you can expect a pretty poor rate simply because they know there’s literally nowhere else for you to go. And don’t make the mistake of thinking that the banks have the best rates – they often don’t.

A pre-paid travel card is often your best option for the best exchange rates, for a few reasons. One of those reasons is that the exchange is done when you’re at home planning your travel budget, and done in one go. Because the bank gives you an on-the-spot conversion rate every time you make a purchase abroad, they often offer a worse rate than a pre-paid travel card where you’ve exchanged all your money in one go.

Pre-paid travel cards are convenient

The convenience of using a pre-paid travel card begins at home, with the card helping you plan your travel budget. You can load the exact amount you’re planning on spending on your holiday to ensure you stick to your budget, and if you’re using the Caxton Currency Card you can even set up a travel savings plan, helping you budget in the lead up to your trip.

Which is the best pre-paid travel card?

Which travel money card is the best? It will depend on your requirements, so here are some things that you should think about before picking your pre-paid travel card:

What are the fees?

While you may not be able to get away entirely fee-free, it’s important to make sure that you’re not hit with unexpected fees when using the card. Some providers charge fees when using an ATM or for certain payments. Caxton has no hidden fees and we don’t charge for using an ATM.

Does the card support the currency that you need?

Not every currency card will carry every currency. Do some research before committing to a card to make sure that it will be useful for the countries you are planning on going to. Caxton supports 15 of the most commonly used currencies, and if we don’t carry your currency you can still use your GBP balance on the card to spend in the local currency.

Is the card widely accepted?

Not every card is accepted everywhere, so make sure to check how widely accepted the card you’re thinking of is. Caxton is supported by Mastercard and therefore accepted everywhere that Mastercard is accepted. In case you’re not aware – that’s 35 million locations worldwide!

What happens if something goes wrong?

Fingers crossed your holiday is entirely without issues, but if misfortune strikes, what will your card provider do to help? If you lose your card or it gets stolen, you need to be able to quickly block it to prevent anyone from spending your money. Customer service is crucial at Caxton as evidenced by our 4.7 star Trustpilot rating. In case of any issues, you can call us on 0808 506 7915 (or +44 (0) 207 201 0526 from outside the UK) to speak to a person, instead of having to find the answer on a website.

Need a travel money card that can help you get the most out of your holiday? Enjoy fee-free spending abroad and get the best rates with your Caxton Currency Card. Apply for yours today, or top up your existing card.