The currency conundrum: How to make the most of the strengthening pound
As the pound continues to strengthen against the Euro and the US Dollar, British holidaymakers heading abroad are struggling to know when’s the best time to buy their currency. Leading travel money card provider, Ukash, is offering some tips to help travellers deal with the currency conundrum to get the best value for their pound.
“The dilemma for Brits heading abroad is what’s the best way to spend abroad?”, said Miranda McLean, Marketing Director, Ukash. “Do they buy currency – and if so when? Do they just use their debit or credit card – but potentially face transaction costs as well as be at the mercy of the exchange rate on the day of each transaction.
“Probably most holidaymakers end up with a combination. But by combining cash for ad hoc spending, with using credit and debit cards for the bigger bills, could result in less spending money as a whole.
“Of course, it’s impossible to predict what is going to happen to the pound over the next few weeks or months – but we think holidaymakers will be able to make the most of good rates by being as flexible as possible. And for that we recommend they use the Ukash Travel Money Prepaid MasterCard card.”
Travellers can apply for and receive a Ukash Travel Money Card – loading as little as £50. They can then keep an eye on rates and buy when they feel the price is right for them – online, instantly and completely free of any loading charges even while they are on holiday. Then the money is on their card ready for them to use abroad – in hotels, restaurants, shops and ATMs wherever the MasterCard sign is shown – and it’s all complete fee free.
“Analysis of our rates for travellers buying the Ukash Travel Money Card in the last month shows the fluctuations occurring in the marketplace”, continued Miranda McLean. “On 16th June 2014 £500 would get €619.05 or $838.65. But earlier this week (23rd July 2014) the same amount gave holidaymakers €623.20 or $838.95. It may not seem much of a difference but if, like a lot of holidaymakers, you’re planning to spend more than £1,000 on your family trip abroad – then it starts to make a real impact.
“With the Ukash Travel Money Card there’s no need to wait for cash to arrive at home – or rush to the local currency exchange outlet – when you spot the deal you want to go for. Nor will cardholders be at the mercy of transaction and exchange fees applied to credit and debit cards when used abroad. We think it’s the most sensible way to organise travel money and spending abroad.”
The Ukash Travel Money card offers the best foreign exchange rate on the market. It can be ordered online in minutes and is delivered within ten working days without the need for any credit checks. There are no charges for sign up, transactions or ATM withdrawals abroad and the card can be topped up online instantly using a debit card – even while travelling. Plus cardholders can check their balance and transactions online completely free of charge.
The Ukash Travel Money MasterCard: The Facts
Available in Euro and US Dollar
Lowest FX Rate on the market
No application or transaction fees
Free ATM withdrawals outside the UK
Free balance enquiries online, at ATMs and SMS
Free top up by debit card
Chip and PIN security
Can be used at over 34 million locations worldwide that accept MasterCard
Minimum load value: £50
Maximum single load: £2,000
For more information, visit ukash.com.