Gone are the days of travellers cheques and cashing them in once you run out of your cash! Times have moved on and the security of our money when travelling abroad is something which we must consider. However, it need not be an issue with the various options available to you.

We strongly recommend taking as little cash on holiday with you as possible. Of course you may need cash for certain items such as paying the taxi fare for instance but carrying vast amounts of cash isn’t safe and you’re certainly not covered if the unexpected happens. 

Using pre-paid cards is a great way to make sure that your money is safe and if you’re on a budget at least you can’t overspend. If your budget is a little more flexible or you can be trusted to stick to your budget, using your current account is advisable. Before you travel make sure you check if charges apply. Starling offer their customers a ‘no fees’ bank card when travelling abroad and they won’t be the only ones. 

Starling

It’s quite simple and easy to set up your Starling account if you don’t have a pre-existing one. Simply download the app and follow the instructions. You don’t even have to wait for your card to arrive to start spending as the app allows you to add the details to your apple wallet, if you have an iPhone of course.

As you make a transaction on your card you are instantly notified via the app so that you can keep a track of your spending. There are no fees for using your card abroad or for withdrawing cash at ATM machines, unless the machine itself charges you, so watch out for that!

When using your card for foreign currency, you will get the mastercard exchange rate so you don’t need to worry about being charged over the odds. 

Pre-Paid cards

If you have a set amount you need to stick to, pre-paid cards are the alternative to using your current account. There are many options on the market and the various cards have different offers available so make sure you shop around. Cards such as Caxton and FairFX come highly recommended but check out what’s available on comparison sites such as Money SuperMarket. 

Watch out for:

• Transaction fees
• Fees to purchase the actual card
• Monthly fees for the use of the account
• ATM fees
• Fees to change your currency back to sterling

Make sure you read the small print before making your application. There are cards out there which don’t have lots of fees involved, so make sure you choose wisely.