Did you know that the majority of us tend to use our standard debit and credit cards when we are shopping abroad?. The banks love us for this as they introduce stealth charges whenever our credit and debit cards are used outside of the UK. There are also often charges of up to 2.5% added to every single purchase and the exchange rates that are used are never the best on the market.
There is however a solution to this by investing in a prepaid FairFX currency card, a prepaid mastercard loaded with Euros for those trips to Europe or U.S dollars for a foreigner visiting the U.S.
There are several benefits with using this card
- Zero fee for purchases made in local currency
- Low fees for each cash withdrawal – $2.00
- Market leading exchange rates – Using the best forex rates available (typically 3-4% higher than banks and up to 7% higher than exchange bureaus)
- Currently the card is free of charge subject to loading with £500 (normally £9.95)
Use the FairFX card for overseas purchases and within a few years you will save yourself a fortune.