With consumers buying currency every year how do you avoid high airport rates and retailers claiming to offer the best travel money prices by stating no commission charges, but in truth its not all about no commission charges it is about the currency exchange rate you are offered.
The FairFX Anywhere Card is working out that you save more than six per cent when buying currency on your card rather than buying at the airport bureaux de change.
With FairFX you have a choice of 3 travel money cards, a euro card to use in Europe, a Dollar card to use in america or the Anywhere card which can be used worldwide. So whats the difference between the cards? Well the main difference is the travel money cards are preloaded with your currency so as long as you use the card in the same currency you benefit from hardly no charges at all, use it in another currency and you will be hit with conversion charges or a flat fee.
The FairFX travel money cards can be used like any normal debit card or credit card, the only difference is they are not attached to your bank account or offer any credit facility so you can only spend what you have loaded on to the card.
FairFX are becoming one of the largest brokers travel money suppliers this has been increased dramatically due to the banking collapse hit customer confidence where FairFX increased by nearly 60 per cent more card sales by customers last month than December.
So how can FairFX offer cheaper rates?
FairFX overheads are smaller compared to most banks and airport exchanges as they only have 15 staff which transfer in to better rates.
An example offering 1.12 euros to the pound compared with 1.05 at Travelex in Heathrow Terminal 5.
The surge in popularity also comes amid fears of volatility in the currency markets. The pound is hovering at $1.40 but could slump to $1.30 by August – meaning holidaymakers would gain £50 extra by buying £500 of dollars now.
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