Making your holiday money go further
Club Together readers have been telling us they’re fed up with the poor rates and hidden charges associated with foreign exchange. It’s a real bug-bear for those of us who’ve now got the time and inclination to travel.
But the good news is, after evaluating a range of currency providers on the market, our experts were most impressed by my Travel Cash and their prepaid MasterCard cards.
What is a Pre-paid card?
A pre-paid card is a simple, safe and convenient way to take money abroad whilst avoiding the worry of losing cash or travellers cheques, or your main credit or debit cards. It is a card that looks like any other credit or debit card, but you pre-load it with the amount you wish to spend. You simply pay with your card abroad, as you would with any other debit card and it will automatically deduct the amount from your total. It is designed to help you avoid hidden merchant and banking charges. You can returns good bought on the card, cancel the card after 14 days if needed, and if the card is lost or stolen, my Travel Cash makes things easier for you. Simply text the dedicated number and the card is cancelled immediately. The my Travel Cash card is designed for complete peace of mind abroad.
Thanks to the buying clout of more than 2 million members, Club Together has negotiated an exclusive deal that could save you up to £40 for every £500 you change! Plus, if you book flights with Ryanair, you can avoid paying their administration fee with the new Multi-Currency Card.
Sound interesting? Then find out more.
Who is providing this service?
MyTravelCash is part of a bigger company called CorporatePay, a leading provider of corporate, public sector and consumer prepaid card programmes. Their focus is to provide a convenient and safe way for you to take, spend and access your travel money at a great exchange rate.
What do you want to do now?
Travel money that saves you up to 8% - and is more secure
Forget the bureau de change, you could save you up to £40 for every £500 changed compared with buying currency at high street agents, bureau de change or airports. Plus all cards are now available with an Express Delivery option of 1-2 working days, perfect if you need your travel money in a hurry.
Here’s how it works
my Travel Cash prepaid MasterCard cards can be used at over 30 million merchants and 1.5m ATMs worldwide, wherever the MasterCard acceptance mark is displayed
You can only spend the funds you put on the card. It is not linked to your bank account and has no credit facility.
my Travel Cash never charge commission and, because the card is only available online, they always give you a great rate (see below)
Once you have topped up your card you can use it abroad to withdraw cash or pay for purchases at shops, hotels, restaurant and more, in the same way you would use a normal debit or credit card. The Euro and Dollar cards are free to use for purchases in that currency and only incur a small flat fee of €1.25/$1.50 per cash withdrawal
There is a 24/7 Lost & Stolen service, which can be accessed by phone, text or online. Once your card is blocked, a replacement card can be ordered and any funds transferred to your new card
The new Multi-Currency card is loaded in pounds and then converts into the local currency when you use it, always at a great rate. Plus, this card only costs £0.50 to book Ryanair flights, much cheaper than the £10 per person per return flight that Ryanair adds for not paying by prepaid MasterCard card.
Step 1 – order card, activate, load
Step 2 – no ATM fees for cash withdrawals when abroad
Step 3 – we pay you 1% cashback the following month for all eligible spend
What do you want to do now?
A quick guide to your benefits
an easy and cost-effective way to exchange currency online
commission-free travel money at a great exchange rate – a cheap and safe alternative to using your credit/debit card abroad
no credit check, no link to your bank account, Chip & PIN protected and accepted globally wherever the MasterCard acceptance mark is displaye
1% cashback on every purchase made with one of our prepaid currency cards, in any currency
- No ATM fees for withdrawing cash abroad*
- Express Delivery Option - unlike the majority of prepaid currency card providers, my Travel Cash can supply cards within 1-2 working days of the order being placed rather than the standard 5-10
- Free card - the minimum load is added to the card's balance. There is no fee for ordering a card
- Competitive exchange rates - cardholders still benefit from a good rate on currency
*Please note other charges may apply - see the my Travel Cash site for full terms and conditions
Currency Home Delivery
20 currencies available
Free delivery for orders over £600, £10 delivery if less than £600
Next day delivery available
Saturday delivery available
What do you want to do now?
Save up to £40 for every £500 changed
Look at how my Travel Cash compares to Marks & Spencer, the Post Office and Travelex Airport exchange rates. Don’t forget, they never charge commission either.
What do you want to do now?
"I’ll definitely use my card again!"
Club Together member, Colin Fergusson met with Mike Curry of my Travel Cash to review the offer. He was so impressed he took a card for himself and his wife.
"I’ll definitely use my card again,” says Colin. “I had no idea the rates at the airport were such a rip off. I feel a lot safer not carrying cash abroad too."
Colin’s rating...
How does myTravelCash hold up against our 5 golden rules for a ‘better deal’?
Honesty
They struck me as being very straightforward.
Price guarantee
The exchange rates they offer are so much better than on the high street.
Service
The product worked well and the customer service team were very helpful
Recognition
I got two free cards – one for me and one for my wife
Information
The website was very clear
Overall score: 24/25
We sent Club Together reader Colin Fergusson to meet with Mike Curry of my Travel Cash to review the offer.
Colin: “What is the my Travel Cash prepaid card? Is it like a credit card?”
Mike: “It’s similar, in that it’s a widely accepted card you can use to buy things with while you’re abroad… but it’s different in that it’s not linked to your account, and it doesn’t have a credit facility. It’s simply a separate card which you can load with cash before you travel, but you can only spend what you’ve put on the card.”
Colin: “Can I only get the card online?”
Mike: “Yes, but by offering the card online we are able to cut our costs and pass you the savings. The website is very easy to use and you can apply in minutes.”
Colin: “I normally get my foreign exchange at the airport and it’s commission free. Why should I use a prepaid card?”
Mike: “High street and airport bureaux de change charge you up to an extra 8% foreign exchange fee, yet still call themselves ‘commission free’. The my Travel Cash card can save you up to £20 for every £250 you change and is a safe way to spend money that’s accepted all over the world.”
Colin: “Are your exchange rates better than the rest?”
Mike: “Exchange rates vary from day to day for all providers so we can’t commit to one particular exchange rate, but we can promise to be up to 8% cheaper than other agents – even ones who claim to be ‘commission free’. This works out as saving you £20 for every
£250 you load. Although rates change, we always try to stay in the top 5 foreign exchange providers on the market (out of hundreds) and our rates are always better than the airport!”
Colin: “Where can I use the my Travel Cash card?”
Mike: “You can use your card anywhere you can use MasterCard, including ATM machines, shops, hotels and restaurants. It’s free to use if you’re spending euros or dollars in shops, but if you’re withdrawing cash from an
ATM, there’s a small, flat fee each time. If you want to withdraw or spend any other kind of currency there’s a charge of 2.5% on top of our exchange rates”.
Colin: “Why should I trust you with my money?”
Mike: “We are regulated by the FSA and your money sits with the Newcastle Building Society – one of the top 10 building societies in the UK”.
Colin: “Is it more expensive to pay for goods on the card rather than get the money out of an ATM when you’re abroad?”
Mike: “When you spend euros or dollars on goods in a shop we make no charge, but if you take euros or dollars out of an ATM you’ll pay a one-off, flat fee of either EUR 1.25 or US$ 1.5 per withdrawal – it’s much lower than the fee you’d pay with a debit or credit card. If you want to spend a different kind of currency -including sterling - either in a shop or by making an ATM withdrawal, there’s a 2.5% fee”.
Colin: “What should I do if my card is stolen?”
Mike: “We have a 24/7 lost and stolen card reporting facility available by telephone, text and online. Let us know and we’ll block your card. Your prepaid card is not linked to your main credit/debit card or bank account so if you lose it or it’s stolen, your bank account stays protected.”
What do you want to do now?
Find out how you can save on travel money
my Travel Cash prepaid MasterCard cards are available exclusively via their website at http://www.mytravelcash.com/clubtogether where you will also find everything you need to know about how the cards work, which one is best for you and how much money you could save by using one.
Don’t forget, all prepaid currency cards have an Express Delivery option meaning they can be delivered within 1-2 working days.
Currency Home Delivery – travel money delivered to your door
For those who prefer cash before they depart you can use a new service from my Travel Cash. There are 20 currencies that you can have delivered to your home and you can choose from next day delivery, Saturday delivery or the option to pick a day up to 7 days in advance. But, for the best exchange rates, we recommend using the prepaid MasterCard cards which are also safer and more secure than taking cash abroad. Plus, you can always use them to withdraw money abroad if you need to.
