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The best travel money card

Lots of us take cash in our destination's currency when we travel, but it's not always the ideal solution. Carrying or storing cash abroad can be risky and annoyingly bulky, particularly if you're taking a large amount. It can also be tricky to budget with cash and becomes a hassle if you're heading off on a multi-country trip where you need more than one currency.

Travel money cards are a safer, more convenient alternative to cash. You can load them with a set amount before you set off, top them up at any time and store multiple currencies on them at once. They also don't incur fees in the same way that debit or credit cards do, as your money will be digitally stored in your destination's currency rather than in sterling.

We've broken down the best travel money cards on the market right now and shared our top tips for finding the best deal when looking at travel money cards.

What is the best travel money card?

Currently, the best multi-currency travel cards is the Caxton FX Currency Card. It offers free transactions and withdrawals abroad and allows you to load 15 currencies, including GBP, onto your card. You can also check your balance, top up and even block your card if you lose it via Caxton's app.

However, it's worth doing your own research before you head off, particularly if you're reading this a while after we've written it.

How can I find the best travel money card?

Use a comparison site to find the best deals if you're not too financially savvy, as they will lay out the pros and cons of each provider and give you a clear picture of the best option. Alternatively, you can manually compare the travel money cards offered by popular providers like the Post Office and Tesco Bank to find one that's suitable for you if you know what you're looking for.

What should I look for in a travel money card?

If you want to compare the options yourself, make sure you've looked at things like:

  • Whether your card is regulated by the Financial Conduct Authority (FCA) or another country's financial authority body.
  • The exchange rate it uses.
  • Any hidden fees that might sting you, e.g. ATM withdrawals, inactivity charges and replacement card fees.
  • Whether you're charged for withdrawals abroad.

Should I choose a pre-paid travel money card?

If you're bad at budgeting, are visiting more than one country or don't have a credit or debit card account that offers free purchases abroad, it's a good idea to look into a pre-paid travel money card.