Currency Cards: We compare 5 of the best

When you go abroad, how do you take your money? Do you opt for wads of cash, a currency card or just stick with your personal credit or debit card?
With so many options available on the market today, it can be hard to decide which to go for. Some people like the security a card offers you, whilst others like the cash in their hands so they can keep an eye on what’s being spent!
If like us you prefer your cash on a card, you may find this page helpful. We have taken 5 of the top currency cards on the market and listed what we love about them. Hopefully the comparisons below will help you find the right card for you and maybe even spark a new way of spending and managing your money abroad!

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6 of the best currency cards

Caxton

Benefits of Caxton

  • Purely a currency card, not a debit card.
  • 15 loadable currencies available (incl. GBP), with the ability to load more than one at a time.
  • If they don’t list the currency you need, they’ll convert it for you using their bank beating exchange rates.
  • Accepted wherever you see the Mastercard logo
  • No overseas ATM* fees
  • Block your card in an instant via the mobile app

Added benefits of Caxton Red Account

Based on a £5 p/month subscription:

  • Exchange up to £25K a year, no fees, no mark-ups.
  • No ATM* and transaction fees in the UK and abroad
  • Purchase protection.
  • Earn reward points on UK spend.
  • Free additional card.
  • Travel extras and event cancellation cover.
  • Cashback rewards for referring your friends (Give £10, Get £10).

Drawbacks of Caxton

  • A minimum of £10 must be loaded to receive the card.
  • No branches for face to face communication (can be contacted through their UK based
    customer service line).
  • You load the currency at a fixed rate, so if the rate changes, it won’t improve the value of your currency.
  • If you buy currency and don’t spend it, you may lose out when selling it back unless you have purchased the buy back guarantee.

Caxton cards give you all the perks of a travel card; pre-loadable currencies, no ATM* fees and contactless payment options with no hidden costs. Withdraw cash abroad for free and keep an eye on what you’re spending on their handy app. Caxton offer three different card options, each with their own perks.

Enjoy all of the above with their standard card or sign up to their Red membership for “awesome exchange rates and exclusive benefits” for just £5 a month. If you are planning on spending a substantial amount of money abroad, say for instance, buying a property, their Caxton Premier card might be just what you need!

*Caxton do not charge ATM fees, but some overseas providers may do so.

Monzo

Benefits of Monzo

  • Works all over the world.
  • No fees for spending abroad.
  • They’ll let you know what the current exchange rate is in the country you land in.
  • It uses the MasterCard exchange rate.
  • You can freeze the card if it gets lost nad unfreeze it if you then find it.

Drawbacks of Monzo

  • Overseas withdrawals limited to £200 p/month.
  • No branches to visit if you prefer face to face interaction.
  • Can’t receive overseas payments.
  • Only available to UK residents.
  • Can’t deposit cash.

Monzo is the latest banking platform to hit our app stores, and it’s certainly got people talking! The UK only bank isn’t just another bank account, it’s a powerful budgeting, saving and travel spending tool, too. You can use it in the same way you would your standard current account; with the same perks!

Build saving pots to squirrel money away (perfect for saving for a trip) and be rest assured you won’t be charged for using your card abroad (unless you withdraw more than £200 within a month) so there’s no need to exchange your currency. All rates are standardised to the MasterCard daily exchange rate too so there are no fees to pay. Win win!

moneycorp

Benefits of moneycorp

  • Load up to 10 currencies.
  • Branches in London and in airports.
  • Order currency in advance and pick up in the airport (selected airports).
  • Red Card offers better rates and is contactless.
  • Only 5 places in the world you can’t use it.

Drawbacks of moneycorp

  • White Card charges £1.50 or equivalent for cash withdrawals abroad.
  • White Card isn’t contactless.
  • If they don’t have the currency online, you need to contact TMqueries@moneycorp.com and they’ll see if they have it in one of their branches. This may cause delays.
  • You need to allow plenty of time to apply for and recieve the Red Card.
Moneycorp offer 2 different currency cards, and you’ll be eligible for both, it just depends on how prepared you are. The White Card is available at the airport and allows you to load up to 10 currencies and spending abroad is free. If you have time, apply online for their Red Card to be sent to you (7-10 days). This is a contactless card, with no spending or ATM fees and it offers better rates than the White Card.

One of the best things about MoneyCorp, from personal experience, is the level of customer service, both in person and on the phone/online!

Travelex

Benefits of Travelex

  • Load up to 10 currencies including African Rand and UEA Dirham.
  • Branches available at Heathrow Airport.
  • 24/7 customer assistance.
  • Free access to your cash.
  • Mobile app to keep on top of your holiday spending.

Drawbacks of Travelex

  • £50 minimum load amount in person or £100 on the app.
  • £5,000 limit on how much credit you can have loaded at one time.
  • £30,000 loadable limit in any 12 month period.
  • Inactivity fee charged if not used in 12 months.

The Travelex currency card is a great way to access your international finances safely and securely while away. The product is available to use across millions of locations world wide & can be used for 10 major currencies. The team at Travelex offer 24/7 assistance as well as fixed exchange rates & if you really love the product you can invest in Platinum benefits!

Post Office Travel Money Card

Benefits of the Post Office Travel Money Card

  • Load up to 13 currencies
  • Accepted in 36 million locations in over 200 countries.
  • Mobile App links with the card so you can keep track of spending
  • Delivered within 2-3 days of ordering
  • Contactless

Drawbacks of the Post Office Travel Money Card

  • 3% cross border fee applies when you spend in a currency other than one of the 13 currencies offered.
  • Cash withdrawal limits vary from currency to currency.
  • $2.50 / £1.91 charge each time you withdraw cash.

The Post Office Travel Money Card is a very well-rounded product that enables you to use & spend your international currency easily and safely. The card lets you load between £50 and £5,000 in 13 different currencies, which can be withdrawn from over 200 countries & is supported by a great online app to help you organize your finances. The app allows you to view/transfer your balances, buy travel insurance and view documents, as well as booking airport parking & transfers.