A new, pre-paid Travel Money Card, which is backed by MasterCard, has been launched by First Choice and Thomson.
Travellers can load the card electronically, with euros and US dollars, and use it to purchase goods at more than 28 million outlets around the world.
The card will be promoted at 860 branches of First Choice, Holiday Hypermarket and Thomson Travel.
Jeremy Osborne, the director of financial services for TUI UK, said: “We think this is something our customers will find assists them in planning and budgeting for their holidays.”
He went on to say: “As the card is pre-loaded with a fixed amount of currency at a given rate, it will appeal to the budget-conscious as it makes it much easier to manage finances whilst away. In addition, it’s impossible to over-spend on the card, and as it’s not linked to a bank or credit card account, the exposure to fraud and loss is reduced.”
According to Osborne, a major benefit to customers on holidays abroad is that there are no foreign exchange fees involved in the use of the card, meaning substantial savings over credit and debit cards.
The Travel Money Card is valid for three years, so any funds left on the card at the end of a holiday can be kept for future use.
Thanks to www.travelmole.com for the above quotes, for more information on this article please visit their website.