Travel money: From cash to crypto, these are the best ways to pay when you’re abroad

euronews.com:

Sorting out travel money often involves a mad dash to the currency exchange at the airport - or simply swallowing the astronomic prices charged by your debit card issuer.

But with a little planning, you could save significantly on your travel currency.

So, what’s the best way to pay while you’re on holiday?

We’ve looked at everything from plain old cash, credit cards and prepaid travel cards to apps and cryptocurrency to bring you the best ways to take money abroad.

Applying for a specialist travel credit card will help you avoid foreign currency exchange fees - and secure you the best rate. They also offer the best protection in case there are any problems with your purchases.

Credit cards are usually needed for car hire abroad so they’ll come in useful there. You should opt to pay in the local currency rather than your home currency for the best rates.

If you’re unable to get a credit card due to your credit score or ability to make monthly repayments, travel debit cards are a good alternative. They do not typically charge the flat fee and percentage cut that your normal debit card would. They are also a better choice than credit cards if you wish to withdraw cash.

App-only banks are a great way to pay abroad without incurring interest or fees. Monzo offers unlimited fee-free cash withdrawals in the UK and EEA, and up to £200 (€230) per month everywhere else - but it is only available to UK residents.

Curve, a spending card that collates all your debit and credit cards into one easy payment platform, offers up to €1,000 fee-free spending and up to €200 free cash withdrawals per month. It is available to UK and EEA citizens.

Although the rates tend to be slightly less favourable, prepaid travel cards are another good option.