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Tips for couples when picking up the tab this summer holiday

18th April 2013 Print

For couples who don’t share a bank account, summer holiday budgets can be unnecessarily complicated. There are usually hotel, restaurant and miscellaneous bills to be settled, which can lead to awkward verbal wrangling as to who picks up the tab and a string of promises as to who will ‘get the next one’. However, PrePay Solutions, European prepaid services company, reveals that the answer may be as simple as purchasing a prepaid travel money card before leaving.

Steven Phillips, Retail and E-commerce expert at PrePay Solutions, explains: “Sharing a bank account is almost as big a step as tying the knot for many couples. For others it is an even bigger step and many couples keep their finances separate even after years of marriage. The advantage of a prepaid card is that it gives users the benefits of shared finances, with two separate cards, but without the commitment of a joint bank account, and the long term implications thereof.”

PrePay Solutions reveals five reasons to use a prepaid card this summer:

Security: Prepaid cards provide the safety of Chip and PIN, but are not directly linked to a bank account. This means that customers cannot go overdrawn and their funds are safer due to the limitations of the funds on the card.

Acceptance: A prepaid card using the MasterCard® Acceptance network means there is no need to carry other cards. This means people can carry as little as possible when at the beach or going out.

Foreign exchange: Prepaid cards offer good foreign currency exchange rates. This keeps the cost of spending money abroad down.

No transaction charge: Using a prepaid card means that there is no fee to make purchases at shops and restaurants.

Available to all: There are no credit checks and prepaid cards are easy to apply for.

Steven Phillips continues: “The turbulent short term forecast for the value of the pound is another worry overshadowing currency exchanges this summer. Taking out a travel money card offers the added advantage of locking in the exchange rate at purchase, and avoiding the dismal future that the summer appears to have in store for sterling. The longevity of the cards then allows users to convert unspent funds back into pounds at the most favourable rates. PPS delivers travel money card solutions for leading European leisure travel brands, providing comprehensive customer servicing and an online framework that takes the hassle out of the holiday expenditure.”