There’s nothing like the horror of coming back from holiday only to see you’ve racked up a small fortune in bank foreign exchange fees. Suddenly that silly piñata you just had to have (and talked onto the plane as an extra piece of hand luggage) doesn’t seem nearly as worth it.
Instead of relying on your everyday plastic, you should have used a prepaid currency card.
Perfectly designed for travel, these cards are made for keeping your budget safe on your trip, tracking your spending and ensuring you’re getting as much for your pound sterling as possible - and all without burdening your usual current account (or racking up transaction fees).
Simply load in your money before you set off and use the card abroad at the local rate, just like a normal card. You can use currency cards to pay via contactless or withdraw cash from ATMs, but most differ from credit cards in that once your pot runs dry there’s no overdraft or additional funds to use unless you transfer them in yourself.
It might mean that you’ll have to think twice about a Rodeo Drive spending spree or impulse-booking a bungee jump down Victoria Falls, but that’s no bad thing in our book. It means you can enjoy yourself while you’re away without dealing with debt as well as holiday blues when you get back home.
There are lots of prepaid currency cards out there baying for your custom, from the likes of Revolut and Zing to the trusty old Post Office, each offering various perks and services to suit different types of travellers. We’ve summarised them in our edit below to help you decide which one is right for you.
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Revolut
Revolut supports globetrotting in myriad ways, from getting paid in foreign currencies to offering low rates in more than 30 currencies, from Euros to US dollars.
The app uses the inter-bank exchange rate which is more competitive than traditional banks, ensuring you’re left with more travel money in your pocket. Exchange money between Monday to Friday and there are no fees.
Many users also consider Revolut a better option than taking cash and cards abroad because Revolut will charge less fees on what you do spend including cash withdrawals from foreign ATMs.
Users can keep pots of different currencies in one place and swap between them whenever they like, a top feature whether you want to spend local money, you’re looking to build a travel money fund or just want to lock in a great exchange rate.
It all adds up to more travel money to use when you’re on annual leave - plus you can get cashback on selected hotel bookings, gain airport lounge access and score medical cover too (with the Premium account). It’s a good idea to order a physical card in case the country you’re travelling to doesn’t widely support contactless.
Buy now, Revolut
Currensea
More than just a punny name, Currensea is a relative newcomer, established by two former investment bankers in 2017. The multi-currency debit card connects straight to an existing bank account (including HSBC, RBS, Barclays, NatWest, Santander, Coutts and more) but sidesteps the banks' charges abroad, meaning there’s no need to pre-load your balance.
Simply sign up, link your bank account and spend without racking up extra fees. You can pay in 180+ currencies, buying at a real-time rate. Those with a love for numbers and data will delight in a follow-up email that shows your spending and savings using Currensea vs your usual bank.
The company doesn’t even charge for exchanging at the weekend, a time when many get away for a quick escape. There are three accounts to choose from: the Essential (free), the Premium (£25 yearly) and the Elite (£120 yearly), the last of which grants you extra perks like worldwide airport lounge access and luxury hotel perks.
Buy now, Currensea
Wise
Offering more than 40 currencies, prepaid money card Wise comes as a physical card or app form, offering different ways to keep your travel budget in your pocket. The company claims to give you an 87 per cent better exchange rate than your bank and will use the local currency held in your account when you’re aboard, as long as you’ve converted it before you go.
If you run out but still have some pounds dwindling in your GBP pot, it will auto-convert money from there but incur a small charge along the way.
The plus? You can withdraw cold, hard cash for free at millions of ATMs up until your first £200.
Buy now, Wise
Zing
Zing may offer fewer currencies than its competitors, but if you’re always catching a flight to the same destination, it’s worth a butchers.
The card and app allow users to hold more than 20 currencies but spend in more than 30 using its system. You won’t pay any Zing fees for purchases at your chosen destination but if you run dry, the company will take money from your other currency wallets for a low conversion fee. It means you’re not stranded should you run out of dollars in New York but still have Euros in another Zing wallet from an old trip.
There’s a green element to the physical card too, as it’s made from 85 per cent recycled plastic. The digital card is even greener, needing nothing more than enough smartphone storage.
Buy now, Zing
Post Office
The Post Office may be one of the few remaining places where you can still cash in traveller's cheques, making it something of a novelty. Few people use such a method of currency in 2024, a shift that the PO has noticed and adopted with its Travel Money Card.
It’s a great product from a well-established name, which, if you’re not someone who travels often, can feel reassuring when you’re miles from home.
You’ll have to register and order a physical card, but once it’s in your possession, you can make contactless and phone payments by adding it to your digital wallet. Spending is free when you’re using the card in Post Office’s 22 currencies, and if you run out or need to freeze the card, it can all be managed online.
There is an app, and while it can’t be used for payments, you can manage, freeze and swap currencies on it - helpful when you don’t have access to a desktop or laptop.
Buy now, Post Office
TUI Multi-Currency Travel Money Card
Package holiday operator TUI has its own multi-currency travel money card, onto which you can load 13 currencies and manage via an app. Physical cards can be ordered online for home delivery or picked up at one of the agent's 350+ TUI Holiday Stores across the country.
TUI says it doesn't charge commissions on foreign exchanges and uses fixed rates to ease your mind about shifts and fluctuations, but this can mean you can lose out when the Pound is strong. It can be used pretty much wherever Mastercard is accepted and you can withdraw cash through it too. It is a pre-paid product, so once your budget has run out you'll need to reload it with more money digitally or in-person at a TUI branch.
This option is the only one that allows you to add more money face-to-face, which feels more suited for older people who may feel nervous about sending cash into the online ether.
Buy now, TUI
Sainsbury’s Bank Prepaid travel money card
From Sainsbury’s Bank comes this travel money card product, onto which you can load 15 currencies at once - no fretting whether a physical bureau de change has enough of what you need in stock.
A coordinating app allows you to manage your money wherever, whenever (Wi-Fi pending) and while you can withdraw cash free from Sainsbury’s Bank fees, you might land a charge from the ATM provider itself.
It’s best to ensure you have your travel budget loaded on before you go and stick to using the card or making contactless payments when you’re out and about.
The card is free and costs nothing to load up but there is a much smaller list of currencies to choose from which won’t be helpful if you’re travelling to most of South America, Asia or Africa.
Buy now, Sainsbury’s
The American Express International Currency Card
A bit of a restrictive card, but if you're in it for the perks, Amex's travel card may appeal. It can only be loaded with US dollars or Euros, so you'll pay in either currency depending on where you are. Oh, and it charges you an annual fee of either US$100 / €100 but the website doesn't make it clear which one - with fluctuating rates, this could add up to a significant difference.
As for the perks, you'll get 24/7 Global Assist, Membership Rewards (the points for which can be redeemed for flights, hotels and restaurant bookings) and Travel Protection that will cover you for accidents and delays.
This card very much feels aimed at the business traveller and indeed, it will come in handy if you travel a lot for work, allowing you to keep professional and private spending truly separate.
Buy now, American Express
Monzo
With more than 10 million users, Monzo is the digital bank that's taken the personal finance world by storm. The London-based company says 1 in 5 British adults have signed up, no doubt drawn up the travel perks it offers with accounts.
First, you can create separate pots for upcoming trips with the ability to lock or hide the balance so you're not tempted to touch it before departure. It’s free from foreign transaction fees and uses Mastercard's exchange rates to set its rate without adding extra charges. Users with Monzo as their main account can make no-fee withdrawals from EEA (European Economic Area) cashpoints and up to £200 a day beyond the region, with a charge of 3 per cent after that cash ceiling. You can see rates in real-time so you'll know precisely how much bang you'll get for your buck and there are instant notifications on spends, with a detailed report arriving once you get home.
Going away with mates? Monzo allows you to track group spending, share bills and settle up neatly without stressing over sums.
This isn’t a dedicated travel money card but an account with noteworthy travel perks.
Buy now, Monzo
