Make sure your buy holiday money the right way

Online travel money, prepaid travel debit cards or bureaux de change? As the pound has weakened so much against the Euro, it’s vital that travellers find the best rates for foreign currency to get the most out of their holiday spending money. Leading foreign currency provider, International Currency Exchange (ICE), is warning that there isn’t one good way to buy holiday currency – it’s actually a question of making the right choice depending on circumstances.

“The fact of the matter is that there are several different ways to buy foreign currency – some of which are focused on last minute convenience and some on giving the best possible price” confirmed Andrew Hamilton, Head of Marketing at ICE. “This might seem an obvious point to make, but we are still seeing holidaymakers failing to take advantage of some of the great rates available to them.”

Although airport bureaux de change are friendly and convenient, it can make more sense to buy currency online in advance at better rates. It is just business economics that bureaux de change rates are going to have to factor in operating overheads – rent, staffing, etc. By ordering online in advance, holidaymakers can take advantage of a service which has eliminated these costs to get a better rate and benefit from the convenience of free delivery to their home.

The ICE website iceplc.com offers a simple and easy to use service for online orders of £100 and over. Currency and traveller’s cheques are commission free and are also delivered free of charge to the customer’s home the next day, providing the order is placed before 3pm and is for £300 or more. Smaller orders will include a £4.95 handling charge but are still commission free.

“ICE website exchange rates are consistently amongst the best in the UK market, as recognised in the latest Which magazine – Holiday Special June’08 issue, giving holidaymakers more spending money for their pound” confirmed Andrew Hamilton.

As an alternative to carrying cash or risking your main bank debit card abroad, many people are now turning to prepaid travel cards. “Buying currency does mean you will be carrying around cash and we believe it’s important for travellers also to think about their safety when going abroad”, continued Andrew Hamilton.

“For that reason, we have introduced the free to obtain ICE Travellers Cashcard. A prepaid MasterCard, it is accepted at over 25 million ATMs, shops and restaurants in over 120 countries worldwide and provides a real alternative to traveller’s cheques and cash.”

Travellers can load money onto the ICE Travellers Cashcard which is available in pounds, euros and US dollars. A PIN protected card, it also means that you don’t have to risk your main credit or debit card abroad.. According to The Association of Payment Clearing Services (APACS), there was a 25 % rise in the fraudulent use of UK credit and debit cards last year mainly due to stolen and counterfeit cards used abroad, with card fraud overseas having risen by 77% last year. This makes the ICE Travellers Cashcard ideal for holidaymakers who want instant access to money, without worrying about carrying cash. It means they can take larger amounts of money with them and feel safe.

Users can get up to 5 cards on one account making it great for families and it can also prove to be a really useful budgeting tool in helping to control holiday spending.

“Our recommendation for holidaymakers is to consider a mixture of pre-ordered online currency and the ICE Travellers cashcard. This combines to ensure good rates of exchange, a convenient home delivery service and the security of having a pre loaded debit card for spending at restaurants etc.”