Prepaid money cards are proving very popular among people in Britain planning on a foreign holiday later in the year.
The current favourable exchange rate has encouraged many to gamble that the best exchange rate can be secured now.
Money destined for their holiday is being loaded onto prepaid currency cards.
One agent, International Currency Exchange, said sales had increased 91% while an Irish provider, An Post, reported a rise of 50% in sales this year.
Today one pound sterling would fetch about €1.38, a big increase over the €1.28 at the beginning of this year. A high was reached in March went the rate hit €1.42. This has prompted a number of people to buy euros and dollars now in order to fix the exchange rate.
According to trade body Prepaid International Forum, “travellers are using prepaid cards as a secure way to lock in good currency rates, getting themselves a bargain and a much cheaper holiday as a result”.
Its spokesman Alastair Graham added: “The best deals available come with no fees attached and offer the same competitive rates as you would find at the best high street outlets, so all the benefits of the strong pound are being passed on to customers."
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Algarve currency expert PremierFX based in Almancil shortly is launching a prepaid money card.
To discuss this new form of holding money and paying for goods and services, contact:
www.premierfx.com/contact
