There’s no particular best way in which to buy your currency, much depends on personal preference and also where it is your travelling to that will indicate the best way for you. So rather than spout off about what we think, here’s a list of the pros and cons for each method..
Pros – Convenient, simple to use, incredibly low risk of fraud.
Cons – Risk of theft, irreplaceable if lost or stolen.
Pros – no need to order currency, easy to keep track of your spending and you can only spend what is in your account
Cons – The risks are minimised if you talk to your bank first. 1. Check if there will be any fees for using your card abroad as if there are this could be very costly. 2. Make sure your bank knows that you intend to use your card abroad to save the inconvenience of having it cancelled!
Pros – again, no need to order currency and it’s as simple as using an ATM
Cons – Fees! An exchange charge and a loading fee per transaction, charges will also vary hugely between cards.
Pre-Paid Currency Card:
Pros – these can be used like a credit or debit card but only what is loaded on there can be spent. They can be used to transfer money online and can also be used like a savings account to add to in the months running up to your holiday.
Cons – Some cards have fees, you should check with each provider what the fees are.
Pros – should these get lost or stolen, they can be reissued with ease.
Cons – As these are less popular than they used to be the exchange rates may not be as good as you could get with other methods.