Visa Travel Money Investment

Dustjunky

Does it seem like a good idea to load up a Visa Travel Money card such as the one from the Post Office or Travelex with £5000 now, as it is most likely that the exchange rate will be worse by the time I travel to the US in May and I could end up making money if the exchange rate really goes in my favour?

dmg24

Hi Dj,

Unfortunately no one can predict what will happen to exchange rates, so this is something that you really need to decide for yourself x

Dustjunky

I know it is a risk, but theoretically it seems like a good idea. Most people don't seem to like the Visa Travel Cards as they don't offer such a great rate of exchange, but I figured if I can buy now and sell when the exchange rate goes down then I can get a potentially better deal than buying them when I need to in May.

dmg24

You are assuming that the rate will change in your favour. If it goes the other way, you will lose money.

GlennTheBaker

1. Open Nationwide FlexAccount.
2. Stick the £5K in a savings account and earn a few quid interest on it.
3. Before you leave for the USA, put the £5K in your FlexAccount.
4. Use Nationwide debit/cash card to withdraw US$ fee-free from ATM's in USA, making sure you use machines that don't apply a charge themselves (eg Bank of America).