Prepaid Currency Cards Offer Security

British citizens looking to lock in the the pound's 10 month high against the dollar now have an option with a prepaid currency card. According to MoneyHighStreet.com, with growing popularity, more currency card providers are now in the market, including Lloyds TSB, the Post Office, and specialist companies such as CaxtonFX or FairFX. Because the cards will hold their value, some British citizens can use them to protect themselves when the dollar matches or usurps the pound.

Will we see the popularity of prepaid currency cards spread?

Lock in great rates with a prepaid currency card

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Tips on How to Beat the Flunctuating Pound with Prepaid Cards

The pound which has plummeted against all major currencies this past year has added extra costs incurred by UK business travelers. According to this article on TimesOnline, the best way to cope with this dilemma is by loading prepaid debit cards with dollars or euros when the exchange rate is favorable. Some of the better known prepaid cards that are supplied by the exchange companies are Caxton FX and FairFX.

Mark Bodega, marketing director of HiFX offers this advice before shopping for a prepaid card,“It is worth shopping around before deciding on a prepaid card. Some levy a fee every time you spend, either a percentage of the amount or a flat fee per transaction. If you make a high number of small purchases, go for a percentage fee; for fewer but higher-value purchases go for a set fee.”

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