By Wendy Byard
Travel Advisor for solo women travellers
Resources
Wise Travel Money Card
There are lots of Travel Money cards out there but I'm going to talk about my favourite.
The Wise prepaid travel card
The Wise card offers the exchange rate displayed on Google for transactions in over 40 different currencies and you can use it across more than 160 countries and access funds from 3 million ATMs.
What is a travel money card?
A travel money card, or currency card, allows you to store and spend multiple currencies and use the card globally.
Unlike cash for travel, there is no need to convert funds in advance simply make purchases with the travel money card at stores, cafes, online, or withdraw from ATMs. They automatically convert the transaction amount from any held currency for a modest fee.
Travel money card versus prepaid travel card
Travel money cards provide convenience and adaptability, allowing you to maintain various currencies and transition between them while traveling. Prepaid travel cards typically cater to a single currency, such as prepaid Euro or US Dollar cards. Whether opting for a travel money card or a prepaid travel card, upon loading funds, the exchange rates are fixed at the time of transfer. However, be cautious of potential concealed markups.
With the Wise travel money card, you can transmit and spend funds globally at the mid-market rate without markups or hidden transaction fees.
Which is the best prepaid travel card?
Comparing different travel money card providers can be challenging due to varying fee structures. Some charge an upfront commission, while others embed fees within their exchange rates. This allows them to advertise 'zero commission' or 'fee-free exchange' while profiting from currency conversion.
Is a travel money card superior to travel money?
A travel money card, also known as a currency card, is a favoured method for spending abroad. It is more secure and simpler than carrying foreign cash or using travellers cheques. Typically, it is more cost-effective than converting cash upon arrival.
How does a travel money card work?
Travel money cards are tailor-made for travellers. They permit you to preload and retain a specific sum in multiple currencies before traveling. With Wise, you can order a travel money card for delivery to your home, or obtain a virtual card instantly on your phone.
Top tips for the best travel money card experience
Avoid exchanging travel money at the airport, it is more economical to withdraw from an ATM using your travel money card.
Always opt for the local currency (without conversion) when withdrawing from ATMs or making payments with your travel money card.
For holiday expenses in a foreign currency, transfer your funds with Wise.
Install the Wise money transfer app for free and manage your funds on the move.
With the Wise travel money card, enjoy exchange rates and lower fees that are up to 87% better than those offered by banks. If your account contains the local currency, the Wise travel money card will utilise it. Otherwise, it will automatically convert your funds at the current rate for a negligible fee.
Instantly use Google or Apple Pay
There is no waiting period for the physical card. Your Wise travel money card is compatible with Apple Pay or Google Pay, functioning identically to the physical card but existing solely on your electronic devices.
Complimentary ATM cash withdrawals up to £200 monthly
The Wise travel money card alleviates concerns about using ATMs overseas. After the initial £200, a nominal fee applies to withdrawals. Avoid obscured exchange rate fees when accessing ATMs internationally.
