Hi folks. I’ve just got back from a couple of days way and I wanted to tell you about a new service I found that the Post Office offer. As we all know, there is nothing worse than travelling to another country and using your debit or credit card in a shop, restaurant or cash point to come home and find that not only did you get a rubbish exchange rate but you have also been charged some extortionate admin fees by your bank to boot! Very infuriating!
Well the Post Office Travel Card allows you to avoid these fees. You sign up for a card (it is essentially an ATM card) and load up money to it either in a Post Office Branch or online at an agreed exchange rate (normally whatever the Post Office is offering at that give time). You can then draw out the cash in currency local to whichever country you are in at the time with no fees charged by the Post Office (the bank that owns the ATM may charge you a small fee as it would if you used your own debit card). There is an initial limit to the amount of cash you can upload to the card (for anti-fraud purposes) but you only have to provide some a couple of items to prove your identity and address to get these lifted up to maximum of six thousand pounds plus a year. More than enough for most travellers! I was blown away by this service and will be using it on all my trips and holidays in the future. The prevalence of these unnecessary fines and obstacle to getting a fair exchange rate for your hard earned cash are something that the banks really need to address but won’t don’t unless they are compelled to do so. Be sure to take it up with your local bank manager next time you pop into your local branch!