The fairest way to spend abroad interest free (Fairfx)

Member Name: lilmissmup

Product:	Fairfx
Date:	11/06/09 (697 review reads)
Rating:

Advantages: Free to obtain if go via a link, no interest frees for using abroad

Disadvantages: $2/Euro fee for taking out cash, can only use online

When planning a holiday abroad you have lots of things that you need to make sure you have ready before you go including making sure your passport is valid, getting travel insurance and getting your travel money.

Most banks charge you an average of 2.75% on using debit and credit cards abroad but as it's not safe to carry around large amounts of cash in a foreign country, you can of course get travellers cheques too but this is fast becoming an out dated way of spending abroad.

Before my trip to America in April I was looking for a safe way to take my cash with me and came across the FairFx Card which was being promoted by Martin Lewis on moneysavingexpert.com

The FairFx card is a pre-paid MasterCard, you top it up using a debit or credit card and it converts your sterling into Dollars or Euros giving you a very competitive exchange rate, when looking at best rates this card was also at the top of the list when it came to the best deals.

You do need internet access for this card; you can order the card from www.fairfx.com, although it's a MasterCard as its pre paid there is no credit checks involved so anyone can apply and be accepted.

Once you have applied you will be sent your card and a pin within 10 working days although my card arrived within two days and the pin another few days later and I was very impressed with this.

Once you have received the card you activate on line and you can then top it up with your chosen amount.

If you want to add further funds whilst away you can do this online, it will take approximately 2 hours for the card to be updated with the new useable balance.

There is no charge for using the card in shops or restaurants abroad, if you wish to make withdrawals from a cash machine you can do so at the charge of 2 Euros/Dollars per withdrawal which I felt was reasonable as you can take out any amount for this and this is what I did whilst in America.

There is a £9.99 administration fee for ordering the card if your first top up (which you need to do on ordering) but this is wavered if you top up £500 or more, at the time I ordered I went via moneysavingexpert.com where there was a link to order via money supermarket and you didn't pay anything even if your top up was smaller.

At the time of writing that offer is still valid if you go to http://www.moneysavingexpert.com/cards/prepaid-car ds.

I highly recommend this card to anyone travelling who wants to feel safer in spending and don't want heavy interest fees for that privilege.

Summary: A brilliant way to spend abroad