Don't Put All Your Eggs in One Basket With Holiday Money This Easter

3rd April 2015

With the Pound against the Euro hovering at around 1.35[1], ICE - International Currency Exchange, the leading travel money provider, is suggesting travellers to the Eurozone this Easter or later this summer, may want to consider buying their Euros now. They could also consider locking in the rate using a prepaid card in Euros. By taking a mixture of cash and a prepaid currency card, travellers may avoid putting all their eggs into one basket when it comes to arranging their travel money. The ICE Travellers Cash Card, a PIN-protected Mastercard® prepaid currency card, is the only prepaid currency card on the market to offer 1.5% cashback on qualifying purchases[2].

MONEY SAVING TIPS FROM ICE FOR EASTER

Plan ahead and shop around

Think about ordering cash in advance online where rates tend to be more competitive[3]. Check for postage costs. If you've left it to the last minute or would prefer not to have your money delivered, look for vouchers and deals. ICE offers Click & Collect , which offer the best rate on the day for Euros and US Dollars from branch locations at convenient transport hubs such as Waterloo station.

Lock in the rate

Consider a PIN protected prepaid currency card in Euros or USD to lock in the rate. ICE offers the ICE Travellers Cashcard in Euros and US Dollars.

Check the Terms and Conditions on Prepaid Currency Cards

When you apply for a prepaid currency card, be careful to check the Terms and Conditions. Many prepaid cards have charges that apply for their use.

Budget for your spending

Consider adding your holiday spending budget to a prepaid currency card - then you'll be ready to spend in local currency when you arrive at your destination.

Getting the most from your money

Check charges for using cards abroad and for ATM transactions

Be aware of Dynamic Currency Conversion

If you pay by card, check the transaction is conducted in the local currency rather than sterling.

Don't get lumbered with unused currency

Ask your currency exchange provider what they can offer you on unused currency.

Many FX providers will happily buy back your currency if you have some left when you return, but look around for the best deals.

Koko Sarkari, COO of ICE said: "It's a good time to be heading to the Eurozone, holidaymakers will find their travel money going further than at any time in almost 7 years. With the General Election on the horizon which may bring currency rate changes, it's not a bad idea to take advantage of the rates on offer now. No one can predict how rates will change, but if you load money to a prepaid card in the lead up to a holiday and if the Euro starts to strengthen closer to the departure date, the rate on the card could average out at a better rate than if you had put all your eggs in one basket and bought currency just before your holiday."

The ICE Euro and US Dollar Travellers Cashcards are free to order if the first load is £700 or over, free to use for ATM[4] withdrawals, with no penalties for inactivity, and no fees for top ups by debit card or bank transfer. With rates fixed at the time the money is loaded, ICE Travellers Cashcards offer travellers a secure and convenient method of payment overseas and, when they get home, a 7 day same rate buy-back guarantee[5].

Key Benefits of the ICE Travellers Cashcard | iceplc.com/cashcard

No commission
Free to obtain if the initial load is £700 or more. £4.75 if the initial load is less than £700[6].
Free cash withdrawals from ATMs [7]
Free backup card in case of loss/theft
Free supplementary Family Cards for up to 2 family members
Free to top-up the Euro and US Dollar cards [8]
Free balance enquiries either online or at ATMs[9]
Free 7 day same rate buy-back guarantee – funds can be converted back to sterling at the same exchange rate[10]
No penalty fees, e.g. no charge if you fail to use your card for long periods of time and if you lose your card and need a replacement ICE will replace it for free
Accepted wherever the MasterCard® Acceptance Mark is displayed [11]

International Currency Exchange (ICE) has been providing retail foreign exchange for over 40 years and today has over 400 locations in 20 countries, on four continents, conducting one transaction every 6 seconds. Through its retail network, ICE offers a wide range of products and services to support the travelling public's requirements, including foreign currency and phonecards. ICE's online products include commission free secure next day home delivery currency and the ICE Travellers Cashcard, an innovative prepaid MasterCard® in £, € or US$, which can be loaded with holiday spending money before travelling, allowing all the convenience of using a bank debit or credit card, but without the risks and charges sometimes associated Find ICE on Facebook/iceplc and follow them on Twitter [AT]icetravelmoney | iceplc.com

R. Raphael & Sons plc (Raphaels Bank) is the issuer of the ICE Travellers Cashcard and is a Bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Raphaels Bank is a leading issuer of prepaid cards in Europe with over 4 million cards issued through 20 partners across 14 European Countries with over 140 programmes ranging from gift cards to full Chip & PIN cards to mobile technology payment solutions | raphaelsbank.com

[1] Current rates supplied from iceplc.com on 23.03.15

[2] 1.5% cashback on all purchases made of £50/$50/€50 or more on the respective cards
[3] http://www.which.co.uk/home-and-garden/leisure/guides/travel-money/buying-travel-money-online/

[4] Some ATM operators and merchants may charge a fee or set their own limits

[5] Up to $100/€100, 7 days from the date of the last top up

[6] There is a Top Up fee of 2.85% for sterling card. Top ups made by credit card incur a fee of 2%

[7] Some ATM operators and merchants may charge a fee or set their own limits

[8] Some ATM operators and merchants may charge a fee or set their own limits

[8] 2% fee will be levied if topping-up with a credit card

[9] Some ATM operators may levy their own charge for checking account balances

[10] Up to $100/€100, 7 days from the date of the last top up

[11] The card cannot be used for participating in online gaming websites, at casinos or other gambling institutes, or to make regular money transfers