When preparing for international travel, one of the biggest considerations is how to handle your finances abroad. The debate between varying cash and opting for travel cards is a longstanding one, but with the advancements in technology and security, travel cards are emerging as the superior choice. In this blog we have given a comprehensive look at the benefits of travel cards versus cash, helping you make an informed decision on your next trip.
Security and Safety
- Cash: Carrying a large amount of cash can be quite risky. If it gets lost or stolen, it is not likely to be recovered. Furthermore, carrying such a huge amount of cash can make you a target of theft and possible harm.
- Travel Cards: Travel cards such as prepaid forex cards offer enhanced security features. If your card is lost or stolen, it can be easily blocked and replaced, minimising potential losses. Many cards also come with fraud protection, ensuring your money remains safe.
Convenience
- Cash: Handling different currencies is cumbersome. You need to estimate how much money you will need and find a reliable place to exchange it, often incurring hefty fees and less favourable exchange rates.
- Travel Cards: Travel cards simplify transactions. Prepaid travel cards can be loaded with multiple currencies, allowing you to use them across countries without worrying about exchanging money. They also enable quick and easy payments, just like a regular debit or credit card, making transactions seamless and hassle-free.
Cost Efficiency
- Cash: Exchanging cash can be expensive. Exchange bureaus and banks often charge high fees and offer exchange rates. Additionally, carrying cash means you might overestimate your needs and end up with leftover foreign currency, which can be costly to convert back.
- Travel Cards: Travel cards provide better exchange rates compared to cash exchanges. Prepaid travel cards allow you to lock in exchange rates when you load the card, protecting you from currency fluctuations. This can result in significant savings, especially on long trips. Many travel cards also come with lower fees for transactions, making them a cost-effective option.
Budget Management
- Cash: Managing expenses with cash can be challenging. Once it is spent, keeping track of your spending can be tricky, leading to potential overspending or running out of money unexpectedly.
- Travel Cards: Travel cards offer better budget control. Prepaid travel cards allow you to load a specific amount, helping you stick to your budget. Most forex cards provide online portals or mobile apps to help you monitor your balance and transactions in real time, giving you complete control over your spending.
Flexibility
- Cash: Cash is often inflexible. You need to carry different currencies for multiple destinations, and exchanging leftover cash can be inconvenient and costly.
- Travel Cards: Travel cards offer unparalleled flexibility. They can be used in ATMs worldwide to withdraw local currency if needed and are accepted at a wide range of merchants globally. Some cards also offer rewards points or cashback on international spending, adding extra value to your purchases.
Emergency Assistance
- Cash: In emergencies, cash can be limiting. If you run out of cash, accessing additional funds can be difficult, especially if you are in a remote location or if banks and exchange services are closed.
- Travel Cards: Many travel cards come with emergency assistance services. This can include emergency cash advances, card replacement, and travel insurance. Such services provide peace of mind, knowing you have support in unforeseen circumstances.
Promotions and Benefits
- Cash: Cash does not offer any additional benefits beyond its face value.
- Travel Cards: On the other hand, travel cards often come with a range of benefits and promotions. These can include discounts on travel bookings, dining, shopping, and access to airport lounges. Such perks are a welcome treat, bettering your travel experience and offer significant savings.
Travel cards the better choice
Given the numerous advantages of travel cards over cash, they are clearly the smarter choice for modern travellers. Travel cards offer security, convenience, cost efficiency, better budget management, flexibility, emergency assistance, and additional benefits. By opting for a travel card, you can enjoy a stress-free and enjoyable travel experience.
MultiMoney Forex offers a variety of travel card options designed to meet your needs. With competitive exchange rates, minimal fees, and a wide range of benefits, our travel cards ensure you get the most out of your money while travelling abroad. Simplify your travel finances with a MultiMoney Forex travel card and experience the ease and security it brings to your journeys. Visit our website to learn more and get your travel card today.