Wise travellers, therefore, use alternative methods for looking after their funds while adventuring in unfamiliar territories. So what are the best ways to store money for your trip?
Taking cash abroad on holiday has long been seen as a less-than-ideal way to have funding for your trip. The problem with having physical bills is that they can be lost so easily, and if this happens then the trip will turn into a disaster. There are some popular travel destinations that are renowned for having high mugging rates as well. Barcelona, for instance, attracts 32 million tourists each year, but is also known for being one of the pickpocket capitals of the world. Wise travellers, therefore, use alternative methods for looking after their funds while adventuring in unfamiliar territories. So what are the best ways to store money for your trip?
Neteller
Digital forms of payment are revolutionizing internet payments as well as travel. One of the leading companies at the heart of this growing trend is Neteller, which is an e-wallet that allows for swift and easy transfers between various merchants including forex trading firms and social networks. Users can also use the Net+ card to withdraw funds wherever they are, and they will receive the fiat currency of the country that they are travelling in. The company was founded in Canada in 1999, and was picked up by Paysafe Group in 2015.
Neteller has risen to the fore in the online payment scene thanks to its close involvement with various major industries. It began as a method of processing online gambling payments in 2000, and had partnerships with 85 percent of existing online casinos at the time. While other payment options like PayPal have emerged in the sector, Neteller is still used by Betway Casino and other major brands. The other massive industry that Neteller has cleverly got involved in is forex and cryptocurrency trading. Some of the major players in that sector use Neteller as a way to make seamless payments. One of the most notable companies is the forex market leader, FBS. Aside from these, Neteller is also used in the insurance industry, with companies such as Life Insurance Online, and the health and beauty sector at sites including Direct Life.
Prepaid Cards
As well as choosing the right travel products for the adventure overseas, some travelers also consider taking a prepaid card with them. This is the option that preceded online payment systems like Neteller and PayPal, and is still a preferred option for many. The idea of these cards is that users load up the cards before they travel and then use them in the same way they would an ATM card to withdraw cash in the country they are visiting. If these cards are lost or stolen, it is much harder for the thieves to get access to the funds unless they have your PIN. In this event, the user can call the company that issued the card and report the loss. This way, the money is still protected.
Prepaid cards are still considered to be a great hassle-free way to protect money while travelling. The other advantage of them is that they allow users to keep track of their spending and not exceed their budget. This helps people who have problems with travel expenses. Some of the best options on the market right now include WeSwap, which gives users a bonus if they load up a certain amount. FairFX has a slightly worse exchange rate, but gives users a bigger chunk of free cash when they load up over the stipulated amount. Users should be careful before signing up to any of these cards, and make sure they read the terms and conditions first. They can only be used in certain countries, and the exchange rates may be less desirable than the ones you would get directly from a bureau de change. What they lack in value for money, though, these cards make up for in convenience.
Prepaid cards have long been considered the handiest and securest way of taking money on holiday, but digital platforms such as Neteller are now beginning to take over. This trend will continue to rise in the years ahead as more people get on board with technology and alternative currencies such as bitcoin, which can be transferred on the network.
