Pondering Travel Money Cards – Which Card Is First-Rate?
Even though travel money cards are relatively new, their popularity is quickly increasing. With this in mind, this article is designed to help you understand why they were developed, why the are usually better than any credit or debit card, and which card is the best value in travel money cards.
Old forms of travel money – travelers cheques or bank cards
It was only recently that people who were traveling to another country did anything but order travelers cheques. Anytime people went on vacation they never questioned using travelers checks; that is until banks made it easier to get cash using foreign ATMs.
And yes, this made accessing your cash easier, but at what price? Many financial websites exposed the banking institutions trickery and people have learned how much their banks were charging them for an overseas purchase.
It is important to understand that the high ATM fees and exchange rate fees are so high because of the overhead a bank has to cover. For example, it costs banks a lot of money to maintain branches that are high street based.
Travel money advancement
Recently banking technology has made some tremendous advances in speed and performance. The use of the internet by the general public has become mainstream. Therefore people are no longer hesitant to make use of the internet to take care of their money.
As more and more people began preforming different tasks using the Internet, a market that was previously only available to banks opened up for the majority of businesses.
Fair FX was one of the very first travel money cards to hit the market
When this market opportunity opened up in the travel money industry, the financial gurus at FairFX.com sensed that a need could be filled very profitably by providing the public with an economical travel money card.
In the beginning FairFX provided 2 travel money cards. The one card used US dollars, while the other was in euros. These cards were designed to charge about 1% on exchange rates, charged nothing for making purchases, and only charged $1-$2 at ATMs.
The nice thing about the FairFX travel money cards is that when you purchased a card and loaded it with money, you also were locking in the current exchange rate for that money at that time. Of course, sometimes this can be good and at other times it can be bad for your purchasing power. FairFX still offers these cards today.
Many individuals do not care to speculate with travel money
And that makes sense, since they may have a limited amount of travel money to go places with. They would like to be able to use their travel money at whatever exchange rate their current currency is going for so that is what they choose to do.
Many folks who traveled abroad could not seem to wrap their heads around the fact that the FairFX travel card had better rates and fees than their banks credit or debit card. Because of this, an easier card was needed and that is where the FairFX travel money card comes into play since it offers these exact things!
You Can Explore the World with A FairFX Anywhere Card!
FairFX realized that the general public still did not understand that they were paying too much in bank fees by using their standard credit card when they went overseas.
The decision was made to provide a product which was accepted universally, without the consumer having to deal with exorbitant fees on each transaction while on vacation. But now we have the FairFX Anywhere Card
So, bottom line, how much is a FairFX Anywhere Card going to cost you?
This card, believe it or not, does not charge for loading, atm use, or the exchange rate. The sole fee is a 1.5% transaction charge, which according to our records renders this travel money card the best one of its kind.
At the present time, there is no charge to acquire this card, and you are only required to make a minimal initial deposit to get started. But there is no guarantee this will not change soon, so it would be a good idea to acquire this new card while it is still free.
Be advised that currently FairFX has a very special offer going which offers you a free euro, dollar or sterling travel money card (normally 9.95) which just requires a small minimum initial load. So what are you waiting for? Get your own travel money card and start saving even more money today!