Travel Money Options
Ways of funding your stay while you're abroad
Prepaid Payment Cards
These are a brand new kind of international payment option which claim to provide the security of travellers cheques with the convenience of plastic.
With these cards, you 'pre-load' the card with funds before you travel, and can then use the card like any normal credit card - at restaurants, shops, cash machines, wherever a credit card is accepted.
The difference is that you're not charged interest on your spending, as you're pre-paying rather than borrowing, and if your card is stolen or lost you'll receive the full balance of funds on the card in another form such as currency or cheques within 24 hours or so.
The card can also be re-loaded at any time, i.e. topped up with new funds, so you can keep one card however many times you travel.
Paying for your currency before you travel also has the advantage of fixing in your exchange rate at the time of loading the card, rather than being at the mercy of the rates charged by foreign banks or money exchanges.
Conclusion
Prepaid cards, or travellers cheque cards as they are also called, would seem to provide an ideal way of taking money abroad, but it's recommended that they are not relied on completely to fund your overseas spending.
Making sure you have a good mix of payment options available - credit/debit card, ATM card, travellers cheques, and pre-paid card - will give you the maximum security and flexibility.
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