BEST Travel Money Cards 2024

Pre-paid travel money cards are available from services including Post Office, FairFX & Travelx. New Fintech companies have launched travel money card alternatives, these include: Currensea, Revolut, Wirex & Wise.

Some new cryptocurrency accounts and payment cards also provide currency conversion and spending from foreign currency balances held in accounts.

Most cards can be applied for online and will be posted out to within a couple of days. Most providers issue free cards, although some card providers may charge a card issue fee &/or a delivery charge for new cards.

Pre-paid travel money cards are designed to hold at least one foreign currency, most cards have the ability to load and store multiple currencies this is handy if you do a lot of travelling and plan to visit countries with different national currencies.

New bank linked and card linked cards do not store foreign currency, instead they provide a point of purchase currency conversion using a spot exchange rate for each purchase, they will then debit the corresponding amount in GBP from your linked card or bank account.

Exchange rates vary from card to card, most cards offer better rates of exchange than traditional bank cards and do not apply individual transaction fees when you use them.

Typically exchange rates will be either based on:

Loading rate of exchange – for most cards the rate of exchange is provided each time you go to load money onto your travel money card. You choose your desired foreign currency, how much you want to buy or the value of your home currency you want to convert. You get a quote providing the exchange rate, any charges applied and the amount of foreign currency you will receive on your card.

POP (point of purchase) conversion rate of exchange – newer cards like Currensea & Curve work a little differently. These cards work like a bridge, Currensea card can be linked to a bank account of your choice, Curve card can be linked to some or all of your debit and credit cards. 

When you use Currensea or Curve cards they use POP currency conversion in real time, the equivalent in GBP pounds will be debited from your linked bank account if you have a Currensea card or your chosen debit or credit card if you have a Curve card. Either way you pay no conversion fees the Currensea or Curve card handles the exchange for you, allowing you to pay in your destination currency each time.

Currensea card & Curve card provide a relatively new way of spending abroad, many customers appear to like these new innovative services, giving them 4.8 & 4.3 Trustpilot ratings.

Travel money cards are either Visa or Mastercard and are accepted in millions of places around the world. Travel money cards allow you to pay like a local in the local currency.

Travel money cards allow you to pay for goods and services in the correct currency (e.g. Euro in Europe or Dollars in the USA). No conversion fees or usage fees should apply as you are able to pay in the correct local currency.

YES – Travel money cards allow cash withdrawals from most cash machines. 

It is worth checking t&cs for cards, some do charge a small fee for cash withdrawals, or limit the amounts you can withdraw free of charge.

Also some ATMs apply their own fees, if fees are being applied you should be notified before you commit or agree to make a withdrawal (fee’s should not be applied without your knowledge).

Prepaid Travel Money Cards

Prepaid cards are designed to be loaded up with foreign currency, they are basically work like a digital wallet. A prepaid travel money card allows you to buy foreign currencies (usually at competitive rates of exchange), to store and spend the currency just as you would using a regular debit card. You should avoid transaction fees as you are able to pay in the local currency. Prepaid cards can be ‘topped up’ or ‘pre-loaded’ in advance or as needed.

Bank & Card Linked Travel Money Cards

Bank and card linked travel money cards are a relatively new concept, they basically act as a currency exchange bridge and allow you to spend in the local foreign currency with zero transaction fees. What they do is link to a designated bank account or card and debit from the linked account as you spend using your travel money card.

Currensea is a bank linked card, you can use Currensea card when abroad to pay in the local currency. Currensea card eliminates individual foreign transaction fee’s, and the corresponding amount in GBP£ is debited from your linked bank account

Curve works in a similar way, it allows you to link chosen bank cards and credit cards to your Curve card. Once linked you can use your Curve card to spend from any of your linked cards while abroad. Curve uses a wholesale currency exchange rate for each transaction. Curve pays in the local currency, eliminating individual foreign transaction fee’s, and the corresponding amount in GBP£ is debited from any of your chosen linked cards (you manage your Curve card and linked cards in the Cure app).

Travel money cards are a great choice for many people. However, not all cards are the same so it’s important to consider which travel money card works best for you.

Key things to look out for when choosing a travel money card are:

Ongoing card admin fees: Does the card have an ongoing monthly/annual admin fee?
Whilst most prepaid travel money cards have zero transaction fees. Other fees may apply, including annual or monthly subscription fees, this is often for premium cards which usually offer more incentives and better exchange rates. Some services also charge fees for low use or dormant cards (typically after 12 months of no use).

Load Charges: Loading foreign currency onto your card may incur a loading fee each time. Card providers often also make a small percentage on currency exchange. Fees and exchange rates should be clearly stated when you load up your card so you know exactly how much foreign currency you are getting at the time of conversion and loading.

Transaction / card use fees: Individual transaction fees in shops and restaurants should be zero as travel money cards allow you to pay in the local currency. Always remember to select to pay in the currency of your destination if you are offered more than one option. And make sure you have a balance in the correct currency (i.e. pay in Euros in Europe & US Dollars in USA).