Pre paid currency cards

[poohshunny]

We are travelling to New York in about 8 weeks. We have been reading up on getting a pre paid US dollar currency card. There are so many to choose from! Some charge for withdrawals, some don't. I thought I'd ask if anyone on here had used these, and could give any recommendations on them. Thanks in advance.

[KARL]

I am not attracted to the idea and therefore have never used one, but if I were to consider it then the first thing I would do is compare the cost with my debit and (particularly) credit cards, assuming an unchanged exchange rate. I rather suspect these cards offer no advantage, maybe on the contrary. If the pound strengthens from card/money purchase before departure then you stand to lose, if it falls then you stand to gain using these cards - just on the exchange rate. But that is an unknown/gambling aspect and all you can do is compare costs at static exchange rate. Then there is the security aspect - if you lose a card, what alternative do you have and how safe is your outlay ?

[dothawkes31]

go into the post office and ask if they do a dollar one, I got a euro one for my son to go to majorca with and it was good because it was no fee to use anywhere except in a hole in the wall. It's a visa card too and so acceptable anywhere, as they say on the tele,

[dzug2]

Caxton fx and fairfx are those with the lowest charges and best exchange rates.

The PO is expensive - if convenient. As well as the charges, there's the exchange rate costs, which are the same as buying cash in the PO.

[poohshunny]

Thank you all for your answers. Sorry I haven't replied sooner, I was at work till 10pm. After careful consideration and comparing exchange rates, transaction fees and bank charges for using our existing bank cards, we have decided on the Caxton FX. With regard to the security aspect, if we lose a prepaid card, the maximum that we could lose, is whatever we have loaded on the card. On the other had if we lose a credit card or debit card, we could stand to lose significantly more, as in all available funds on both. Thanks again for your answers.

Ali x

[cooperman244]

the post office do a travel money card in dollars.they also offer a great credit card with 0% on purchases overseas.no catches either.was recommended by martin lewis the tvam financial guy.