Our Guide to Currency Cards for Travel : Simplify Your Spending Abroad

Created by Gerry | Updated : 6 December 2024 | , ,

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We travel a lot and the one of the most frequently asked questions we receive is how do you manage the money?  The answer is simple; we use currency cards. 

When you’re travelling overseas, having the right payment method can make all the difference.

  • Gone are the days when travellers carried wads of cash or relied solely on traditional bank cards.
  • Also gone are the days when we paid high fees or carried travellers cheques or relied on expensive local currency exchange.

With Nordic countries aiming to go cashless by 2030, adapting to this evolving financial world is more important than ever. But here’s the rub; using your home bank card abroad can be costly, with fees and poor exchange rates chipping away at your travel budget.

Over the years, Colleen and I have refined our approach to both spending cash abroad and paying for goods and services via a bank card when overseas.  And it all starts with multi-currency cards.

These days we would not leave home without our currency cards and we recommend you do the same.  Keep reading and I’ll explain everything that you need to know about these invaluable travel companions.

Gerry travelling through India at the train station with his rucksack on his back

Why Use a Currency Card for Travel?

Lower Costs

Traditional bank cards often advertise “fee-free” transactions, but the hidden charges in their poor exchange rates tell a different story. Airport currency exchange desks? Don’t even think about it; they’re notoriously overpriced.

Better Budgeting

A dedicated travel card lets you load a set amount and use it for your trip, separating your travel spending from household finances. If the card is compromised, your potential losses are limited.

Convenience and Security

Many multi-currency cards come with excellent apps. Features like virtual cards for online payments, instant freezing, PIN reminders and real-time notifications offer unparalleled control and peace of mind.

Backup for Cash-Based Destinations

Even in cash-dependent regions, our currency cards make it easy to withdraw local currency from ATMs at favourable rates.  And when travelling to countries such as Cambodia, cash machines automatically dispense American Dollars; used more widely than the local currency.

Gerry getting cash from an ATM with his Revolut Currency Card

Lessons from the Road : Why You Need Currency Cards

It’s not always been plain sailing for us and we learnt some valuable lessons about using travel cards:

  • Have a Backup Card: On a trip to Sri Lanka, my physical Revolut card was hacked. Revolut blocked it immediately and incredibly, forwarded a replacement to our next destination in India in less than two weeks. Since then, we do always carry a second card stored separately but I cannot imagine my local high street bank offering this service free of charge!
  • Use Virtual Cards: For online purchases, virtual cards are a lifesaver. You can delete and replace them easily, ensuring the safety of your physical card.  We even use a virtual card for services such as UBER and GRAB too and for the major hotel booking sites.
  • Be Clear With Your Security: When travelling to the Galapagos Islands I lost my phone in Schiphol Airport.  My phone had everything on it.  Our tickets, our money, our records, copies of insurance documents and my email.  I had never considered what would happen if I lost this phone.  Let me tell you it was incredibly difficult.  Before you leave home, imagine how you would cope in this scenario and figure out ways to access your money safety from other sources.
  • Consider Google Pay  or Apple Pay : Both Revolut and Wise can be setup in Google Pay and Apple Pay and transactions through these apps use virtual cards so your plastic card is not at risk.
Gerry checking the bank balance in a cafe in Vietnam

Top Currency Cards for Travellers

Here’s our pick of the best currency cards, based on own personal experience and feedback from fellow travellers.  We are European resident, so our options may be different to yours but these are generally available worldwide.

1. Revolut

Revolut started as a travel-focused card but has since evolved into a full banking solution while retaining its traveller-friendly features.

Why We Love It

  • Free Basic Card: No upfront cost to get started.
  • Excellent Exchange Rates: Rates close to the interbank rate, making your money go further.
  • Low Fees: Small weekend and ATM fees apply in specific cases, but day-to-day transactions are virtually fee-free.
  • Advanced App Features: Instant notifications, card freezing, PIN reminders, and quick transfers between accounts.
  • Transactions in multiple currencies. For example; you can hold your balance in US Dollars but put that card in a Euro ATM and obtain euros with the exchange made instantly in your account.
  • Virtual Cards: Unlimited one-off virtual cards for secure online payments.
  • ATM Limits: Free withdrawals up to €200/month on the basic card, with higher limits on upgraded plans like Platinum (€400/month).
  • Platinum card : has a free insurance offer but we also take specialist travel insurance from one of our preferred providers
  • No need to hold local currency on the app. If you make an ATM withdrawal or card transaction it will convert your home currency at the incredible Revolut rates immediately.
  • Bank : They are registered as a bank in EU and UK.
  • Additional Perks: Savings, insurance, crypto, airport lounges, and more.
  • Separate: This account is not linked to our household banking. This adds a layer of security for us.

Revolut has been our go-to for years, and we’ve used it everywhere from Europe to Asia.  We seriously could not imaging travelling without this card.

Find Out How To Get Your Revolut Card Here

2. Wise

Wise (formerly TransferWise) is another strong contender, perfect as a backup or for those who prioritise international transfers. We carry it as a backup card and it offers most of the benefits of Revolut. Their transaction fees are very low but there are more of them than Revolut though the exchange rates still make this a good offer.

I feel Wise is better for making large international transfers. There are small fees involved but their system seems more intuitive than Revolut which we prefer for day to day card and online transactions.

Why We Love It

  • Affordable Setup: Physical cards cost a few euros; digital cards are free.
  • Great for Transfers: Their system makes sending money abroad straightforward and affordable.
  • Competitive Exchange Rates: Not quite as strong as Revolut, but still excellent compared to traditional banks.
  • Business Features: We use Wise for business. They have more international business offerings than Revolut and it has facilities like invoicing.
Find Out How To Get Your Wise Card Here

3. Charles Schwab (for US Travellers)

Our American friends swear by the Charles Schwab card for travel. It offers unique benefits including reimbursement of any local ATM fees; perfect for cash-heavy travellers.

Why It’s Great

  • ATM Fee Reimbursement: Any local ATM fees are reimbursed, saving frequent cash users a small fortune.
Find Out How To Get Your Charles Schwab Card Here

4. American Express

While Amex cards are renowned in North America, they’re not ideal for travel elsewhere. Limited acceptance, high fees, and subscription costs make them an expensive choice.  We know for example that they are not widely accepted in Europe and it’s not a card we would recommend.

buying fresh produce from the markets in the Medina in Marrakesh

Top Tips for Using Currency Cards

  • Always Choose Local Currency at ATMs : Always choose the local currency option when making an ATM withdrawal. If you opt for your home currency, the ATM sets the exchange rate—and it’s rarely in your favour.
  • Split Your Cards : Carry one card in your wallet and store the backup separately. This simple habit can save your trip in case of theft or loss.  If there are two of you travelling together, split cards between you.
  • Use Banking Apps : Features like real-time spending alerts and virtual cards keep you in control and secure.
  • Consider What If : Our experience in the Galapagos was a stressful learning curve in how to manage international travel and currency security.  Test it out at home and make sure you have a Plan B in place.

Final Thoughts On How We Use Currency Cards for Travel

Currency cards have revolutionised the way we travel.  We could never envisage travelling any other way. Multi-currency cards have given us convenience, security, and significant savings.

Whether you’re travelling to Spain to walk the Camino de Santiago or jetting off to Vietnam for a holiday of a lifetime, investing in a specialised travel card like Revolut or Wise will absolutely make your journey smoother and more enjoyable.

For us, the combination of Revolut and Wise has been a winning formula.   I’d suggest you start the process of ordering and setting up months ahead of your travel but don’t procrastinate.  You really have nothing to lose and everything to gain!

stopping for breakfast at the floating market on the mekong delta

Don’t Forget Travel Insurance

Whenever you travel, you should have great travel and medical insurance.  None of us expect anything bad to happen, but in the event of an incident, you want to be sure that your insurance will cover you.

I’ve ended up in hospital in Peru, Indonesia, Portugal, Japan and Ireland. Every time my insurance took care of everything. I would never leave home without full and comprehensive insurance.

TrueTraveller : We have this policy and are very happy with the cover, especially considering our ages and pre-existing conditions.

Globelink: We have used and recommended Globelink for years and not heard of any issues. They are a great choice for European and UK Residents.

Genki : This is an EU based company offering long term policies for nomads and travellers. Their monthly rates are very competitive for longer trips too.

Safety Wing : Many of my travelling buddies from the USA recommended Safety Wing; we’ve not used them personally but know folks who have.

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Gerry having a fine time bird watching during our chobe river sunset cruise

Gerry Sims

I’m Gerry. Colleen initially wanted to call her travel blog Travels with Him so I think I’m probably Him. I retired in 2022 from life behind a desk although we’d been travelling and walking for some years before. I got the travel bug as a 10 year old on a slow boat back from an aborted immigration to Australia. These days I handle a lot of the back-office for our travels from visas to currency!

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