Post Office launches new payment card for holiday money
The UK’s largest FX provider, Post Office Travel Money, has introduced a new pre-paid card that offers customers a secure and convenient way of taking holiday money abroad.
The Travel Money Card Plus is a chip and PIN-enabled MasterCard and is available in euros, US dollars and sterling, allowing customers to lock in competitive exchange rates offered on the day of purchase.
The card is accepted in more than 28 million locations around the world and can be used like a debit card in shops, bars and restaurants as well as online and at cash machines. As with any payment card, overseas cash withdrawal fees will apply. However, unlike many other credit and debit cards, there is no cross-border fee for euro cards used in the eurozone and US dollar cards used in the USA.
Separate to a bank account, the Travel Money Card Plus provides a safe and secure way to manage holiday money by keeping it separate from other funds. There are also no credit or overdraft facilities on the card, making it impossible to overspend.
The Post Office pioneered in this concept when it launched the original Travel Money Card in 2006. The new user-friendly features of the new card include SMS top-up and balance checking facilities. These enable users to view their last three payment transactions at any time and keep a watchful eye on their spending whilst on holiday. Customers can also service their card online and through a 24/7 contact centre.
The new Travel Money Card Plus can also be applied for over the counter in 3,000 branches, with customers able to use the card the next day. Cards purchased online can be activated as soon as they arrive in the post, which is normally within six to eight working days of being ordered.
Post Office Head of Travel Money, Sarah Munro, said: "The new Travel Money Card Plus makes managing your travel money easier than ever before with its user-friendly SMS and online functionality. When you’re on holiday it can be easy to lose track of your spending and to eat into other funds, but with the Travel Money Card Plus you can keep your travel expenses separate to help with budgeting.
"Consumers can also lock in currencies at competitive rates and use the card to save holiday spending money in advance. The Travel Money Card Plus is ideal for those who don’t like to carry lots of cash and also for people travelling around a country or region who may need large sums of money."