Prepaid cards get stamp of approval for travellers
08 April 2008An expert on financial products has given his backing to prepaid debit cards for travellers.
According to Steve Willey, head of cards and payments at financial comparison site moneysupermarket.com, prepaid travel cards are likely to be the holiday spending method of choice in the future.
The products allow holidaymakers to 'load' certain sums of foreign currency onto their card prior to setting off on their trips.
Once at their destination, cardholders can then use cash dispensers and make transactions without worrying about having to pay additional fees and charges.
The cards remove the need for holidaymakers to carry around large amounts of cash and, according to Mr Willey, can effectively be seen as a replacement for travellers' cheques.
He predicted that, as public awareness of the products grows, they will become the accepted method of holiday spending.
"Once people have got comfortable with the concept and realise that there are savings to be made, then I think this will become just 'the way to do things'," Mr Willey said.
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