Currency Cards Compared

Currency Cards Compared

With the pound dropping more than 8% against the euro and 18% against the dollar*, Airport Parking and Hotels (aph.com) the long stay airport parking experts, has created a table comparing the most popular currency cards to help travellers get the most out of their holiday money this summer. Travellers can log on to www.aph.com/news/currencycards and check ATM withdrawal fees, purchase fees and maximum withdrawal amounts.

Currency cards are prepaid MasterCard or Visa cards which are accepted like any standard credit or debit card in ATMs, restaurants and outlets where the MasterCard or Visa sign is displayed, as well as many banks, bureaux de change and travel agents. The currency card table compares nine currency cards highlighting the costs of purchasing a card, foreign ATM withdrawal fees, foreign transaction fees, cancellation fees, maximum withdrawal amounts in 24 hours and the maximum balance allowed at one time on the card.

The research found that all the cards are free to purchase apart from Lloyds TSB which charges £7.50 per card and the FairFX currency card which charges £9.95 if the initial cash load is under £500. However, all nine currency card stockists’ charge a fee for use of foreign ATMs, with the FairFX and MyTravelCash cards charging the least at around £1.00 for each withdrawal compared to Travelex which costs the most at £2.50. Travellers should also be aware that some of the currency cards enforce a maximum spending and withdrawal amount, with Thomson and First Choice customers restricted to withdraw only £211.47 per day whereas the FairFX allows up to £855.95 per day.