If you’re jetting off somewhere with a different currency, you’ll need some money to pay your way. Finding the right foreign exchange provider can be tricky, so we’ve simplified things with our comparisons. Whether you’d like cash, a debit card, prepaid travel card, credit card, cheques or an app, we’ve got it all covered.
While the traditional way of getting travel money is all well and good, there’s a range of digital banks that can make the process even simpler. These include Starling, Revolut and N26. If these new-age solutions float your boat, you can read our guide to learn more about them.
Prepaid travel cards
Prepaid travel cards are widely available. They allow you to load your money to a card and spend it when you’re abroad. As you’re only spending the money you load, they can be good for budgeting.
Every card is different in terms of fees and which currencies it lets you load, so you need to run the numbers to see if this works for you.
Travel credit cards
Some credit cards have no fees for overseas spending, which make them attractive for travel. A downside is cash advance fees, which are charged if you withdraw cash with a credit card, so you’ll still need a way to access cash from another options in this guide. It can be a good idea to have multiple travel money options anyway, so a credit card could work for you, especially if it earns you rewards for spending.
Travellers cheques
Travellers cheques were once a widely used form of travel money, but they’re declining in popularity. While they still exist, they might not be the best option.
They’re an extremely secure method to spend money overseas as they can be easily replaced if lost or stolen, as long as you have a record of the serial number. But you might be charged a purchase fee when you first pick up your travellers cheque, and they’re not accepted in as many places as Visa or Mastercard.
Bottom line: Consider which travel money option is best for you
Do your research to figure out which option will offer you the best bang for your buck.
Some credit cards already offer decent fee-free exchange rates for spending overseas, so check with your credit card provider to see what terms it offers when you use your card abroad. Depending on where you’re going, travellers cheques may be a better option. This could be especially true if you’re going somewhere more isolated, with less recourse for using credit and debit cards.
Wherever you’re going, there’ll be a travel money option that meets your needs.
Frequently asked questions
The exchange rates between different currencies fluctuate constantly and vary between providers. Generally, prepaid cards have cheaper exchange rates than those offered by banks.
Banks with international ATM alliances will allow you to withdraw cash for free. Global lenders like Citi and HSBC have a number of ATMs worldwide, and Citi doesn’t charge for international ATM withdrawals. So, if you’re a Citi customer looking to use your card overseas, head to a Citi ATM. All you’ll pay for the withdrawal is the currency conversion fee.
If you have a travel card with an inactivity fee (a fee charged every month when your account is inactive for a period), you will lose any remaining funds on the card, but your account won’t go into a negative balance. Once the card has no funds left on it, this fee will not be charged.
Usually, the most practical solutions aren’t the most appealing to the eye. Travel money belts keep your money and important valuables and documents safely tucked in a compartment under your shirt to minimise the risk of theft and loss. If security and peace of mind are your first priority when travelling and you don’t mind a piece of fabric strapped around your waist, then investing in a travel money belt will protect your travel money cards and important valuables.
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Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio
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Equals Go is a travel card that allows you to exchange currencies when the rate is favourable, allowing you to plan ahead and save money on your travels.
Understand the basics when it comes to travel money and everything you might need to consider before you purchase it with the help of this handy guide.
From contactless payments using a smartwatch or fitness tracker to getting creative with what you use for your “wallet,” we rounded up six ways to carry your currency when traveling to avoid having your money stolen.
Taking a travel card is less stressful than taking a regular bank card and there’s also savings to be had. Find out if a prepaid travel card is right for you before booking your trip abroad.
26 Responses
AlwenaFebruary 12, 2018
I am travelling to Vietnam and Cambodia soon – would a 28 Degrees Mastercard be helpful for me?
Finder
JoshuaMarch 1, 2018Finder
Hi Alwena Tomos,
Thanks for getting in touch with finder.
It’s nice to know that you are preparing for your next trip.
We currently don’t have a page on 28 Degrees Mastercard. But upon checking, the card doesn’t charge fees on overseas purchases when travelling, doing overseas purchases when shopping online, and converting international currencies.
Please refer to this page to know more about credit cards specifically designed for overseas use.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
JeanNovember 15, 2017
We (husband and me) are going to Australia for a month and wanted to open an Australian Bank Account so that all the hotels, car hire etc can be paid in local dollars. We would like to transfer X amount of £ (say about £7000) to cover our month stay to this account. When we leave if we had money left over we would transfer it to our Son who lives there at the moment and has an Australian Bank account. He can then transfer money back to us from his UK account. We just feel this would be easier than alot of payments with a UK debit card. Can we do this? I can see if we were on a working holiday we may be able to but we have ETA. visa’s. Thanks
Finder
JudithNovember 15, 2017Finder
Hi Jean,
Thanks for contacting finder about your question. Yes, you may open a bank account in Australia. Non-resident accounts for tourists and visitors are offered by some Australian banks.
You may check this page about opening a bank account for foreigners. On the other hand, you may check this page, for you to see the other list of options and read a comprehensive guide in opening a bank account in Australia. Click the links on the pages I have provided to find out more about Australian banks and what they can offer you as a non-resident. You may contact them directly to discuss what they can offer you as a non-resident.
I hope this helps.
Cheers,
Judith
MelanieOctober 25, 2017
As I cannot buy Indian rupees in the UK, is it best to take cash & exchange it when I get there? Or is there an alternative e.g cash card. I’d rather not take debit/credit cards?
Finder
JonathanOctober 26, 2017Finder
Hi Melanie,
Thank you for your inquiry. We understand you want some guidance on how to get rupees on your trip.
Due to current Indian financial regulation, we can’t take rupees in or out of India. As such, tourists must buy their rupees on arrival in most instances.
However, there may be travel prepaid cards that you allow reloading of multiple currencies that include INR. You may talk to some prospect banks and have your card request completed several days before departure. This will ensure it gets there before you go out of country.
Hope this helps.
Cheers,
Jonathan
GERRYSeptember 17, 2017
WHERE’S BEST TO BUY USA DOLLAR TRAVELLERS CHEQUES
DanielleSeptember 17, 2017
Hi Gerry,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
We don’t have a specific article listing options where you can buy them, however you may refer to this page for options that may suit your needs.
I hope this helps.
Cheers,
Danielle
KFAugust 11, 2017
What is the best currency to take to Thailand from the U.K for holiday money? Many thanks.
Finder
MayAugust 11, 2017Finder
Hi KF,
Thanks for your question. As we are a comparison website, we may not be able to recommend a specific product to you as the best option would ultimately depend on your financial situation, travel plans, and spending habits.
Nonetheless, the travel card that you may like to bring to Thailand is the one that can hold Thai Bhat (TBH) currency. The cards can lock in TBH are issued by Travelex and Post Office. You can find the review and details for the Travelex here. If you’d like to apply for any of the two cards, please click on the green ‘Go to site’ button.
Hope this helps.
Cheers,
May
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We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
I am travelling to Vietnam and Cambodia soon – would a 28 Degrees Mastercard be helpful for me?
Hi Alwena Tomos,
Thanks for getting in touch with finder.
It’s nice to know that you are preparing for your next trip.
We currently don’t have a page on 28 Degrees Mastercard. But upon checking, the card doesn’t charge fees on overseas purchases when travelling, doing overseas purchases when shopping online, and converting international currencies.
Please refer to this page to know more about credit cards specifically designed for overseas use.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
We (husband and me) are going to Australia for a month and wanted to open an Australian Bank Account so that all the hotels, car hire etc can be paid in local dollars. We would like to transfer X amount of £ (say about £7000) to cover our month stay to this account. When we leave if we had money left over we would transfer it to our Son who lives there at the moment and has an Australian Bank account. He can then transfer money back to us from his UK account. We just feel this would be easier than alot of payments with a UK debit card. Can we do this? I can see if we were on a working holiday we may be able to but we have ETA. visa’s. Thanks
Hi Jean,
Thanks for contacting finder about your question. Yes, you may open a bank account in Australia. Non-resident accounts for tourists and visitors are offered by some Australian banks.
You may check this page about opening a bank account for foreigners. On the other hand, you may check this page, for you to see the other list of options and read a comprehensive guide in opening a bank account in Australia. Click the links on the pages I have provided to find out more about Australian banks and what they can offer you as a non-resident. You may contact them directly to discuss what they can offer you as a non-resident.
I hope this helps.
Cheers,
Judith
As I cannot buy Indian rupees in the UK, is it best to take cash & exchange it when I get there? Or is there an alternative e.g cash card. I’d rather not take debit/credit cards?
Hi Melanie,
Thank you for your inquiry. We understand you want some guidance on how to get rupees on your trip.
Due to current Indian financial regulation, we can’t take rupees in or out of India. As such, tourists must buy their rupees on arrival in most instances.
However, there may be travel prepaid cards that you allow reloading of multiple currencies that include INR. You may talk to some prospect banks and have your card request completed several days before departure. This will ensure it gets there before you go out of country.
Hope this helps.
Cheers,
Jonathan
WHERE’S BEST TO BUY USA DOLLAR TRAVELLERS CHEQUES
Hi Gerry,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
We don’t have a specific article listing options where you can buy them, however you may refer to this page for options that may suit your needs.
I hope this helps.
Cheers,
Danielle
What is the best currency to take to Thailand from the U.K for holiday money? Many thanks.
Hi KF,
Thanks for your question. As we are a comparison website, we may not be able to recommend a specific product to you as the best option would ultimately depend on your financial situation, travel plans, and spending habits.
Nonetheless, the travel card that you may like to bring to Thailand is the one that can hold Thai Bhat (TBH) currency. The cards can lock in TBH are issued by Travelex and Post Office. You can find the review and details for the Travelex here. If you’d like to apply for any of the two cards, please click on the green ‘Go to site’ button.
Hope this helps.
Cheers,
May