A new pre-paid currency card has come up with a way of providing better exchange rates than main competitors for foreign currency. Very handy if you take frequent business trips, or you regualrly trade overseas and have a foreign currency bank account.
FairFX undercuts the cost of currency in Bureau de Exchanges and trusted exchange places such as the Post Office or Marks and Spencer. You can save up to €73 per £1000 changed or $92 per £1000 compared with the high street, airport or drawing directly from your debit card abroad.
For trips overseas, you can purchase a card and use it like a debit card, or have cash sent to your home or business. For bigger business, you can choose to have the currency put directly into a foreign account. The card also apparently cuts out the £2 - £3 transaction costs charged by British credit cards when shopping online for items priced in foreign currency.
The people at FairFx explain that they’re able to offer such good rates because everything happens over that there magical interweb – they don’t have to pay for kiosks and staff in airports and buildings across the land, so they can afford to offer much more competitive rates.