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Barclaycard has entered the pre-pay travel card market by launching its own travel card, Travel Money.  Barclaycard has decided to launch its Travel Money card as the pre-pay travel card market becomes more popular and more competitive, with more and more holidaymakers preferring the travel card to their typical debit card or borrowing money on a credit card. 

With a pre-pay travel card a customer is able to load between £100 to £2,500 onto the card in Sterling, US Dollar or Euros.  The card can then be used overseas whilst on holiday, especially for those holidaymakers who do not want to risk taking their usual bankcards abroad for security reasons.  Many travellers end up falling victim to theft or credit card fraud by using cards overseas.  That is why the pre-pay travel card has become a popular choice amongst travellers, as it is less of a risk.  It is also safer than cash and more flexible than travellers’ cheques.  It can also be used as a way for customers to budget for their holiday, as you cannot spend more than the balance on the card, with many travellers saving up their cash in advance, rather than taking out a loan and paying it back on their return. 

Barclaycard is not the only card provider, there is also Travelex and Post Office who offer pre-pay travel cards.  Travel Money is free to purchase and to load with currency, however Barclays do charge a 2% fee whenever you use an ATM, and charge a currency conversion of 2.75% when spending in a different currency.  Travelex and the Post Office charge a fee to load money on the card, with Travelex charging 2% with a minimum payment of £10, and the Post Office charging a one-off fee of £10 to load.  So before going out and purchasing a pre-pay travel card it is a wise choice to search the market and compare prices.