Bidvest Bank beefs up currency card

Bidvest Bank has announced a ‘beefed up’ World Currency Card range.

“Twelve currencies are now represented across our card range,” said Craig MacFarlane, head of retail operations as Bidvest Bank. “All are popular currency choices for those heading off to holiday destinations in Europe, the UK, North America, South America, Israel, Australia, Mauritius, Asia and East Asia.

“We’re witnessing a tipping point, with travellers moving from credit cards to currency cards in view of potential savings when loading the card with destination currency upfront at a fixed rate.”
 
An example provided by a holidaymaker to Bali showed that over a three-week stay it cost R9 500 more to use a credit card rather than a currency card that secured the rand exchange rate upfront.
 
“There are numerous other advantages,” notes MacFarlane, “but the issue driving big take-up of currency cards this holiday season is the opportunity to obtain a fixed exchange rate several weeks ahead of departure date.
 
Another advantage of the currency card, according to Bidvest is that it cuts point-of-sale costs when settling a hotel bill or shopping as, unlike credit card purchases, no merchant fee is payable.
 
Bidvest Bank said travellers also highlighted the following benefits:

•    The user’s ability to determine and work to a spending limit
•    The card takes the risk out of carrying cash and is reloadable at any time
•    Card activation is immediate
•    Cash can be accessed from over a million international Visa-accredited ATMs at any time
•    Spending can be tracked via text, email or online
•    PIN and signature protection provide added security
•    An additional card is free
•    If a card is lost, 24-hour support ensures speedy replacement.