4 Best Travel Money Cards for 2020
How To Save Yourself The Hassle Of Money Issues Abroad - And Save Money In The Process
Cash is king is now becoming a quickly outdated quote. Cards have replaced cash just as online streaming has killed the need to purchase CD’s.
Most people’s banks have some sort of international option, but often with unreasonable monthly costs that actually leaves you in minus unless you’re travelling 365 days a year.
Money exchanges are also a quick and easy way to lose money, and given you often end up doing it twice (one for the leg home), you’re losing out twice. Add to that the fact you can lose money and end up in a real quagmire!
So what’s the most cost effective way to ensure you’re not strapped for cash abroad, and to keep the stress of money issues at bay so you can enjoy your travels?
Well, that’s what we’re here to answer for you.
The Perks Of A Travel Money Card?
How about, earning free flights, hotel stays and getting 0% charges of international transactions?!
I know, if only it were that easy. Great news, it is that easy.
Some advantages of overseas spending cards include:
- No foreign transaction fees: The amount of times I’ve wanted to just use my card due to the size of the purchase or leaving some cash behind in a hotel room is staggering. With 0 transaction fees, travel cards eliminate that headache.
- Improved exchange rates: Travel credit card exchange rates are usually much more generous than banks or currency exchange booths.
- Earn back for spending: Most travel card companies offer cashback rewards or other bonuses like vouchers for hotels and flights.
- Cash withdrawals: You can even withdraw cash abroad with 0 fees in some instances. I personally have withdrawn several hundred pounds a month from foreign atm’s on my travels without paying a single penny in costs. Great for when you’re caught in a pickle and need cash.
Overview: The Best Travel Cards
You’re a busy person, so we don’t want to keep you all day. Here’s a quick synopsis of the best travel cards around.
Revolut - Best for 'holiday' use.
Our favourite card for day to day use and rewards.
Revolut have worked really hard on business partnerships that they then pass on to their customers. So when using this card for certain purchases you can earn cash back, or discounts. Link this together with their great fee structure when abroad and it's a great way to switch from Travel Cash to Plastic Travel Money.
- No minimum amounts required, start with as little as you see fit. With no locking period you can deposit and withdraw money wherever you want.
- Use the interbank exchange rate to transfer money abroad to 30 currencies, with a tiny 0.5% fee for anything above £1,000.
- Earn useful travel rewards that can be used in retail, restaurants and travel in the future.
- Manage your accounts by setting budgets, receiving instant spending notifications and get weekly insights that help you stay fiscally responsible.
- Connect existing bank accounts to manage all of your finances in one place.
- Earn daily interest from your GBP funds and let your money work for you.
British Airways Credit Card- Best Travel Credit Card
If you want a credit card that gets you air miles, then British Airways Credit Card are one to look at. You are able to gain benefits such that can work towards the cost of your next flights.
- Interest rates will change along with the Bank Of England base rate.
- Unlike many competitors British Airways provide Global Assist® which provides travel help regardless of where in the world you are, in your own language 24/7!
- Travel insurance protects you against accidents for up to £75,000 on public transport (when buying your ticket on your card).
- No annual fees.
- Receive 5,000 bonus Avios welcome offer, if you spend £1,000 in your first six months of Cardmembership.
- Companion Flights meaning you get a +1 on your reward flights
Starling - Best App and most simple
Our favourite for best app, a super easy way to use your card both in the UK and on holiday.
- No fees for overseas transactions.
- Hyper-Secure, instantly lock your Starling card in case of any security issues.
- 24/7 customer support If you’re awake, so are we.
- Competitive exchange rates.
- No charges on deliveries or card top ups.
- Sync bank accounts and even make use of approved overdrafts. If it works for your regular bank, we’ll extend you the same courtesy.
Transferwise- Best for Sending Money Abroad
Transferwise is our favourite card for those who send money abroad, or would benefit from holding multiple currencies at once, such as ex-pats.
- Send money abroad 8x cheaper than your run of the mill high-street bank.
- Transaction costs are 100% transparent unlike other providers who later add mark ups to their fees.
- Make international payments within 24 hours to major routes as opposed to the 3-7 days quoted by most banks. 1 in 4 transfers from the UK to Europe are done within a few seconds.
- Arrange all transfers online from either your browser or mobile app.
- Trusted by over 3 million users, TransferWise is regulated by the Financial Conduct Authority, just like other high-street UK Banks.
- Send money direct to your recipients account instead of it being held in between.
- Can be used for both personal and business purposes.
Bookitlist does not offer financial advice. This is written from a personal experience of using these services. Bookitlist may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.