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Banks exchange currencies but tend to have lager fees. Airports and hotels are convenient ways to exchange currency but the exchange are not good around 10% more and have very high fees. Triple A members can order currency online throght travelex.com from where the money is avalible fast and low fees

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How To Exchange Currency For Travel - EASY

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Video #1
This video talks about handeling currency. Plan ahead and exchange cash before you leave. When withdrawing foreign currency using your debit or credit card may charge extra fees. Some countries accept US currency. Travel money cards is an easy and convenient way you exchange money from your bank account into any currency and not have to carry cash. If your going to a country on a work permit you can open a bank account there.

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EXCHANGING & WITHDRAWING CASH WHEN TRAVELLING | BASICS OF BACKPACKING #5

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Banks exchange currencies but tend to have lager fees. Airports and hotels are convenient ways to exchange currency but the exchange are not good around 10% more and have very high fees. Triple A members can order currency online throght travelex.com from where the money is avalible fast and low fees

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How To Exchange Currency For Travel - EASY

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Banks exchange currencies but tend to have lager fees. Airports and hotels are convenient ways to exchange currency but the exchange are not good around 10% more and have very high fees. Triple A members can order currency online throght travelex.com from where the money is avalible fast and low fees

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How To Exchange Currency For Travel - EASY

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This video she talks about handling currency. Plan ahead and exchange cash before you leave. When withdrawing foreign currency using your debit or credit card may charge extra fees. Some countries accept US currency. Travel money cards is an easy and convenient way you exchange money from your bank account into any currency and not have to carry cash. If your going to a country on a work permit you can open a bank account there.

I chose this video because it talks about exchanging and withdrawing cash. I found the information she gave about travel money cards useful because I had never heard of  them before this and it's an easy and convenient way you exchange money.

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EXCHANGING & WITHDRAWING CASH WHEN TRAVELLING | BASICS OF BACKPACKING #5

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In this video he says banks will exchange currency but they may charge a larger fee and they may also have a minimum required amount to exchange your currency. Also airport and hotels are a convenient way to exchange currency but exchange rates are typically 10% higher and they will charge a higher fees.

I chose this video because he talks about great ways to exchange your currency. I found the information given about airports and hotels charge 10% higher exchange rates.

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How To Exchange Currency For Travel - EASY

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Canadian vs American dollar. American is usually worth more but in November 2007 the Canadian dollar was sightly higher than the US dollar but on January 16th 2016 the Canadian dollar got to the lowest its been in recent history at which it was traded at $1.46 CAD for $1 USD. The American dollar is made of 75% cotton and 25% linen and Canadian bills are made out of synthetic polymer (plastic) which is more expensive to make but it was converted due to courier fitting and lasts longer.

I chose this video video because CAD is compered to USD frequently. I found American dollars is made of 75% cotton and 25% linen and CAD was worth more than USD.

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THE CANADIAN DOLLAR VS THE AMERICAN DOLLAR

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Money is a force that drives the world we live in with each countries currencies being measured against the others. On Trendz Verses we have neighboring countries Canada and the US up against each other in a battle of the dollar.

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When travel she suggests to use credit cards if you have low or no foreign exchange fees because they are more convenient and track your spending easily. Visa and master cards are the best options because they are more widely accepted. Currency exchange agencies may charge a lower fees for exchanging currency but may charge all sorts of transactions fees. Using debit card could have foreign fees but when  you withdraw money money from ATM's which are not associated with your bank there is an additional fee.

I chose this video because she talks about currency exchange agencies may charge a lower fees for exchanging currency but may charge all sorts of transactions fees which I didn't know about.

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Travel Tips: Foreign Money? What Not To Do When Exchanging Your Money

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You don't need to take a lot of the currency with you because it's usually expensive to buy and you only need enough with you to last the first day. Avoid ATM fees by using bank accounts that charge no withdrawal fees internationally and withdraw large amounts of cash when using an ATM so you don"t have to keep paying the fees. Don"t use currency exchange booth because they have inflated exchange rates so make sure you keep tack of the exchange rate. Using a credit card with low or no foreign transaction fee, extra perks, travel points. Tell your bank you are going to travel. Use online money apps to hold extra money just in case you run out.

I chose this website because it talks about great ways to manage your money while traveling. II learned that using a credit card is one of the best options beacuse travel credit cards have low or no foreign transaction fee.

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How To Manage Money While Traveling Abroad | 10 Powerful Techniques

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Traveling abroad but worried about bank fee, exchange rates and managing cash? Discover these powerful ways to manage your money while traveling.

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Use your debit and credit card when possible but be cautious when using ATM's when traveling due to possible high fees, make sure to call your bank and let them know where your'e traveling to avoid account from being frozen and to find out if your bank cards will work where you are going. You should order money before hand.

I chose this website because it talks about informing your bank that you are traveling so your bank doesn't freeze your account which I didn't know would hapen.

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It looks like we're having some trouble accessing your Credit Karma account. We're working hard at getting everything back up and running, so check back soon to access your free credit scores, full credit report and more.

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It looks like we're having some trouble accessing your Credit Karma account. We're working hard at getting everything back up and running, so check back soon to access your free credit scores, full credit report and more.

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Foreign exchange known as forex trading is known to be an easy way to acquire huge gains but risky. It is not for someone who doesn't know much about the market. Only 7 currencies make up 80% of the forex market, the Canadian dollar is the fifth most traded & reserved in the market. The forex market is influenced by the countries economies. Canada was ranked 10th highest GDP in the world in 2017. Canada exports petroleum, minerals, wood products and grains which influences investors to invest in the Canadian dollar. Canada and the US are each other biggest trading partners making up over half of imports and export for each country. Canada has a healthy economy with some of the highest interest rates compared to the other developed economies. Currency rates are very difficult but the countries that have stable economies are more reliable so counties like Canada are important for the forex market.

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Foreign exchange, or forex, trading is an increasingly popular option for speculators. Ads boast of "commission-free" trading, 24-hour market access and huge potential gains, and it is easy to set up simulated trading accounts to practice trading techniques.

With such easy access comes risk. Forex trading is a huge market, but every forex trader is competing with thousands of professional analysts and other knowledgeable professionals many of who work for major banks and funds. The foreign exchange market is a 24-hour market, and there is no exchange - trades take place between individual banks, brokers, fund managers, and other market participants. Artificial intelligence has also changed the forex market in recent years with the introduction of predictive analytics models and machine-learning capabilities, all of which help forex traders to gain a huge advantage.

Forex is not a market for the unprepared, and investors should do thorough homework before entering the market. In particular, would-be traders need to understand the economic underpinnings of the major currencies in the market and the special or unique drivers that influence their value.

The Canadian dollar's currency ranking is somewhat of an anomaly as Canada's economy (in terms of U.S. dollars of GDP) is actually 10th in the world [2]. Canada is also relatively low on the list of major economies in terms of population, but it is the 11th largest export economy in the world, according to the Observatory of Economic Complexity hosted by MIT [3]. The Canadian dollar was not part of the original Bretton Woods system. It floated freely until 1962 when extensive depreciation toppled a government, and Canada then adopted a fixed rate until 1970 when high inflation prompted the government to move back to a floating system.

Ranked tenth in terms of GDP (measured in U.S. dollars) in 2017, Canada has enjoyed relatively strong growth over the last 20 years with two relatively brief periods of recession in the early 1990s and 2009. Canada has had persistently high inflation rates, but better fiscal policy and an improved current account balance have led to lower budget deficits, lower inflation and lower inflation rates.

In analyzing the economic situation in Canada, it is also important to consider Canada's exposure to commodities. Canada is a meaningful producer of petroleum, minerals, wood products and grains, and the trade flows from those exports can influence investor sentiment regarding the loonie. As is the case for virtually all developed economies, this data can be readily found on the internet through sources like the Agriculture and Agri-Food Canada website. (For related reading, see Economic Factors That Affect The Forex Market.)

Although the average age of Canada's population is high compared to global standards, Canada is younger than most other developed economies. Canada has a liberal immigration policy, however, and its demographics are not particularly troubling for the long-term economic outlook.

Because of the tight trading relationship between Canada and the United States (they both make up over half of the other's import/export market), traders of the Canadian dollar watch the events in the United States. While Canada has pursued very different economic policies, the reality is that conditions in the United States inevitably spill over into Canada to some extent. (These conditions also influence other economic phenomena such as inflation. For more, see How The U.S. Government Formulates Monetary Policy.)

Major economic data includes the release of GDP, retail sales, industrial production, inflation, and trade balances. This information is released at regular intervals, and many brokers as well as many financial information sources like the Wall Street Journal and Bloomberg make this information freely available. Investors also take note of employment, interest rates (including scheduled meetings of the central bank), and the daily news flow - natural disasters, elections, and new government policies can all have significant impacts on exchange rates.

As is often the case with countries that rely on commodities for a sizable portion of their exports, performance of the Canadian dollar is often related to the movement of commodity prices. In the case of Canada, the price of oil is particularly significant for currency moves, and investors tend to go long on loonies and short on oil importers (such as Japan, for instance) when oil prices are moving up. Similarly, there is some impact on the loonie fiscal and trade policy in countries like China - countries that are major importers of Canadian materials. (For more, see Canada's Commodity Currency: Oil And The Loonie.)

Capital inflows can also drive action in the loonie. During periods of higher commodity prices, there is often increased interest in investing in Canadian assets, and that influx of capital can impact exchange rates. That said, the carry trade is not so significant for the Canadian dollar.

While the Canadian dollar is not a reserve currency at the level of the U.S. dollar, this is changing. Canada is now the fifth most commonly held reserve currency and those holdings are increasing.

The Canadian dollar is also uniquely tied to the health of the U.S. economy. Though it would be a mistake for traders to assume a one-to-one relationship, the United States is a huge trade partner for Canada, and U.S. policies can have significant influence over the course of trading in the Canadian dollar.

Currency rates are notoriously difficult to predict, and most models seldom work for more than brief periods. While economics-based models are seldom useful to short-term traders, economic conditions do shape long-term trends.

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The Canadian Dollar: What Every Forex Trader Needs To Know

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Foreign exchange, or forex, trading is an increasingly popular option for speculators. Ads boast of "commission-free" trading, 24-hour market access and huge potential gains, and it is easy to set up simulated trading accounts to practice trading techniques. With such easy access comes risk.

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1. What did you learn about your topic that surprised you the most?

I found all the varying exchange rates and fees very surprising. I didn't know there were so many different ways to exchange currency and so many varying prices. I amused the exchange rate you find on goggle is what you would exchange your money for to the other currency.

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2. Provide a real-life example of how this topic is relevant or interesting for you.

I had a vacation planned for this summer which is now canceled due to the pandemic but thought this would be a great way to educate myself on exchanging currencies and handling money when traveling for any future trips out of Canada.

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3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

I would tell my family and friends about about the travel money cards because they are great way to limit your spending, a much faster, convenient way to pay for things compared to cash that can cause confusion due to using a new currency and potential of losing the cash.

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I chose this picture because it shows small amounts of different currencies, when traveling you should only take a small amount of cash with you. There are also some other items which are needed for travel such as the passport and map.

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I chose this picture because it shows the forex market. The forex market is what determines exchanges rates depending on the shifts in the economies of counties changing due to many different factors.

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Travel cards are a great way to stay on budget because there is a limited amount of money on them, compared to a it is much lower limit and you chose how much to put on it. Prepaid cards are now becoming more used and are good in some situations. The website then list the six prepaid cards they believe that are the best. The pros, cons, fees and where the cards are best used.

I chose this website because it is a great place to find what travel card you need that fits your needs.

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When you're planning a trip, most likely you're thinking about the cost. After that, you're probably wondering what the best card to use is so you can get the most points for your trip.

But here's the problem with using a credit card while you're traveling-You can end up going overboard (yes, pun intended) on your spending.

Trust me, I went to Turks & Caicos a few years ago, and there's something about the beautiful weather, white sandy beaches, and crystal clear water that make you throw all caution to the wind when you're ordering $10 drinks all day.

So I have an alternative option for you-Use a prepaid card.

Yep, they're mainstream now, and for the right person and the right situation, they make a ton of sense for use while traveling. In this article, I'll review some of the best prepaid travel cards options you can find. Let's first start by recapping what a prepaid card is, in case you aren't aware.

Related: 6 No Limit/High Limit Prepaid Debit Cards

Overview: Best Prepaid Debit Credit Cards For Traveling.

Netspend® Visa® Prepaid Card
Money management tools and a savings account

$9.95/month or $2 per use plus additional fees for reloading, ATM withdrawals and inactivity

Individual travelers

Green Dot 5% Cash Back Visa® Debit Card
5% cash back on purchases

$9.95/month, $1.95 per in store purchase, 3% foreign transaction fee, plus additional fees for reloading and ATM withdrawals

Use beyond traveling

FamZoo Prepaid Mastercard
Parental control on accounts

$5.99/month per family, 3% foreign transaction fee

Traveling families

Best Prepaid credit cards for Individual Travelers

Netspend® Visa® Prepaid Card

Not only is this one of the best prepaid cards for traveling, but it's also one of the most popular overall prepaid cards. Beware, though, as it comes with some pretty hefty fees and it may not make sense if you're using it for one trip.

Features

The Netspend® Visa® Prepaid Card offers four different ways to load your card with cash: direct deposit, mobile check load, reload locations (over 130,000), and money transfers from other Netspend cardholders. That's a huge value-add for someone who is traveling, as it makes it much easier to be able to get cash loaded onto your card wherever you are.

The card also comes with a mobile app that features tools to help you manage your money on a day-to-day basis. The app has all the features you'd expect with a typical banking app, such as transaction information and the ability to take a picture of a check to deposit it. When you access your account online, you get even more features, such as budgeting tools. You can also get transaction alerts via text and get up to a $10 "cushion" if you overspend on the card.

Netspend offers some perks as well, which you don't tend to see often with prepaid cards. The card has Payback Rewards, which is cash back and personalized offers when you use your card. You can get balance boosts for referring friends, and Netspend even offers you a savings account with a healthy 5.00% APY on balances up to $1,000.

Finally, the card comes with some added peace of mind, offering zero fraud liability and the ability to create virtual card numbers for shopping online. You can even customize the look of your card, which is pretty cool.

Fees

One of the most significant downsides to this card is the cost to own and use it. First of all, it costs money to get one at the store (it's free if you order it online). Most stores charge around $3 just for the card. By default, you'll pay up to $2 every time you use the card. Instead, you can opt to pay the $9.95 monthly fee to use the card. There's no way to eliminate this fee, but you can get it dropped to $5 per month if you have $500 in total direct deposits per month.

Some of the other bogus fees include a $3.95 fee to reload your card at Netspend locations, a $2.50 ATM cash withdrawal fee, and a $5.95 fee if you don't use your card for three months (90 days). There are a few other fees attached to the card, so check out Netspend's site to learn more.

Pros

Four different ways to load your card

Money management tools, both online and via the mobile app

$10 buffer in case you overspend

Payback Rewards

Savings account

Virtual card numbers

Zero fraud liability

Cons

Bottom Line

The Netspend® Visa® Prepaid Card has its flaws-primarily the costs-but it's a great overall product. It has features that few other prepaid cards have, and the savings account option sets it apart. If you can get past the fees and use the card enough to justify it, then it's an excellent choice for traveling abroad.

Best for Use Beyond Traveling

Green Dot 5% Cash Back Visa® Debit Card

Another card that is sold in stores like CVS and Walmart, Green Dot has a couple of different options for prepaid cards. We felt their newer 5% Cash Back Visa® Debit Card was an excellent choice for travelers.

Features

One of the impressive features of the Green Dot 5% Cash Back Visa® Debit Card is what the name says-cash back. When using the card, you'll receive 5% back on your purchases, up to $250 annually. It may not seem like much, but when traveling, you'll spend $5,000 in no time-hitting your max for cash back.

Green Dot also features what they call ASAP Direct Deposit. This feature allows you to get your paycheck up to two days earlier, depending on when Green Dot gets payment instructions from your employer. Also, they're featuring a $5,000 Payday Bonus, where you register and are eligible to win if you make a purchase with your card. They pick a new winner every week.

For those who tend to receive their fair share of paper checks, you can deposit checks to your Green Dot card using your smartphone. Just download the Green Dot app, and you can take a picture of the check to be deposited directly to your card.

One of the unique features of this prepaid card, however, is the ability to order and write checks. For times when you can't swipe your card, you can order checks directly from Green Dot-personalized with your information-so you can write them for things like rent or a payment to a contractor.

Fees

Like the Netspend card, the Green Dot card can be purchased in most stores for a small fee, but you can get it for free online. The monthly charge is $9.95, and it costs up to $1.95 to make a purchase in a store (it's free online). You'll pay up to $4.95 to reload your balance, $2.50 to withdraw cash at an ATM, and $5 if you need a replacement card. And since you're looking to use it for travel, the foreign transaction fee is 3%.

Pros

5% cash back on purchases

The ability to order and use paper checks

Get your paycheck up to two full days early

Cons

The monthly fee is high

Foreign transaction fee can be substantial for expensive trips

Cashback is very limited

Bottom Line

You'll find that all prepaid cards have serious pros and cons. The Green Dot 5% Cash Back Visa® Debit Card has its disadvantages (like most prepaid cards, it's the fees), but it does give you some cash back. If you spend $5,000 in a year, 10 out of the 12 months you have the card are virtually wiped out from having a monthly fee (you'll pay $120 per year in monthly fees, but can get up to $250 in cash back). The feature I like is the ability to get paper checks. It's rare that most people will have to use these, but in the event you do, you don't have to have a separate checking account to do so. Checks may also come in handy when traveling.

Best for Traveling Families

FamZoo Prepaid Mastercard

Okay, so FamZoo is a little bit of a different option when it comes to prepaid cards. I met the founder, Bill, at FinCon a few years ago and he's incredibly passionate about his product. It's also really in-depth with features, so I'm going to cover the highlights for you.

Features

The primary goal of FamZoo is to teach kids about money and save time for busy families. But the product works great for traveling, especially with the family. FamZoo allows you to assign parent and child roles within the system of cards provided to you. This enables you as the parent to control the accounts and the money rules within them. This would be a nice feature if you wanted to send your kids off to go shopping while on vacation but wanted to limit their spending.

Some of the other convenience features include instant and scheduled transfers between cards, activity alerts (great for knowing what your kids are buying and where), the ability to lock and unlock cards, and purchase reimbursement.

On what FamZoo refers to as the "Financial Literacy" side of features, you'll find a lot of beneficial tools. The first is Payment Checklists. I love this tool, as it gives you the ability to schedule tasks for the kids (or other cardholders) to do in exchange for money. You can also do this in reverse-meaning if they don't complete the task they lose money. Imagine how busy you could keep your kids on vacation by establishing various Payment Checklists for them? You then split these payments into multiple accounts for them (savings, spending, etc.).

You can pay out interest to other cards and also set up a loan system-called IOUs. Growing up, my parents shelled out all kinds of money for ridiculous stuff for my sister and me while we were traveling. Instead of taking on the burden of purchases that will eventually end up at a garage sale, why not set up an IOU with your kids, so they have to work on paying you back?

As I said, FamZoo is loaded with features that most other prepaid cards don't have, so check out their site for a full list of them.

Fees

If you pay monthly, FamZoo is $5.99 for the entire family (total, not per card). If you pay in advance, though, you can get up to a 58% discount, making it as low as $2.50 per month. There are no reload fees and no purchase fees when using the card in the United States. You will get tagged with up to a 3% foreign transaction fee if you use the card out of the country, however. There are also no fees for in-network ATM withdrawals (using the MoneyPass network). Out-of-network ATMs will get a fee, assessed by that individual operator. There are no inactivity fees, and replacing a card is also free until you get beyond the fourth family member-then it's only $2. Overall, costs are incredibly cheap with this account.

Pros

Inexpensive prepaid card option

Ability to add family members and parent/child roles

Loaded with features that other prepaid cards don't have

Cons

The mobile app feels outdated

Can become overly-complicated with so many features

Not a well-known card issuer (smaller issuers have folded in the past)

Bottom Line

This might be my favorite prepaid card system. It's more than just a prepaid card. It's an entire financial ecosystem bottled up into a nice little package. While the control over money might seem... well, controlling, you'll find it useful when you don't have to keep giving your kids $20 bills or monitoring their spending on your credit card. Instead, just set them up with a FamZoo card and let them go nuts with whatever dollar amount you give them (and you can make them earn it with the Checklist feature). It does lack things like checks and a big name, but if you've got the whole family with you, I'd give the FamZoo Prepaid MasterCard a shot.

What is a Prepaid Card?

A prepaid card is similar to a debit card-only it's not connected to any checking account. You sign up for the card, load it with cash, and use it like you would any other debit or credit card. Prepaid cards tend to be equally as secure to a credit or debit card since it's protected by a signature or pin number at the time of purchase. Prepaid cards have their place, and are not an end-all solution for any financial situation. But for many circumstances, such as traveling, they play a critical role.

Why Use One While Traveling?

A prepaid card can come in handy while traveling on many levels. Since you preload the card with cash, you can use it for all your travel expenses-from booking the trip from your laptop to the margarita on your flight home.

It can be used like any other debit or credit card while you're traveling, too. You're able to pay for items and services in-person that accept that type of credit card (i.e., Visa, Mastercard, or American Express), withdraw cash at an ATM, or shop online (come on, you know you want that $150 bathing suit before your trip to Barbados).

It's also great in the sense that you can plan out a set budget for your trip and stick to it. Prepaid cards are notoriously beneficial for budgeting since you literally cannot spend more than you've loaded onto the card. If you run out of money, you're out. You're not completely stuck, though-because you can transfer funds to most cards online or via phone from your checking account.

Concerning security, it also works for traveling. One of the concerns I have in using my debit card when traveling is that it's connected to my checking account. If someone gets a hold of my card, they could empty my checking and savings. With a prepaid card, your exposure is limited to the dollar amount you transfer to the card.

This happened to a colleague of mine who was on his honeymoon using a debit card. Someone stole the card and wiped out every dime he had. He had to go through weeks of tedious phone calls and investigations before getting his money back. And sometimes it's not even that easy.

Overall, a prepaid card is an exceptional tool for traveling, even if it's to supplement your credit card. Some people also use it for specific parts of their trip-such as souvenirs or going out to eat. Even if you have a particular area you want to budget, it will help you spend less.

With most prepaid cards, you're going to end up spending a little bit of money on fees, especially foreign transaction fees. Those are determined by Visa and Mastercard, not the prepaid card issuer. With that being said, you have three excellent options for prepaid traveling cards above, based on what you're looking for.

If you are going on just a couple of trips and you can close out your account afterward, I'd go with the Netspend card. If you're looking to use the card beyond just your trip and will need checks, go with Green Dot. Finally, if you have a family coming with you on your travels, definitely check out FamZoo.

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Best Prepaid Cards for Traveling - The Dough Roller

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When you're planning a trip, most likely you're thinking about the cost. Then, you're probably wondering which card to use to get the most points out of your trip. But the problem with using a credit card while you're traveling is going overboard on your spending. An alternative option--prepaid cards.