Regardless of the city or province you have booked to travel to with China Flights, or which city you plan to tour with China Tours, it is almost certain you will stumble across the money dillemma. How much money should I bring, and how much will be enough? Whilst some banks such as Bank of America, HSBC and Santander allow for free with drawls other banks do not, so debit or credit cards are not always your best option.
Prepaid travel cards are becoming increasingly popular for holiday makers, with many banks and retailers no longer accepting travellers cheques. But what are travellers’ cheques and how are they used? And how do they compare to Prepaid Travel Cards?
American Express issues these cheques in several different currencies, which can be bought from the bank, post office or various other bureau de change.
Each of the notes has a unique serial number, you need to sign each cheque and take note of this serial number. What is the point? If lost, the cheques can be replaced within 24hours almost anywhere in the world. And in the case of them being lost or stolen, you’d need not worry about someone else spending them, as it is impossible from them to do without your i.d and your signature.
Note that travellers’ cheques can be used to buy goods directly or exchanged for money. They are often commission free and never expire.
The advantages of travellers’ cheques over cash or card are:
• 
They’re more cost effective, with commission charges as low as 1 per cent of the total bought you will have more to spend.
• They’re safer – they can only be spent when signed by you. They also require you to produce I.D In order to spend them, so don’t forget to carry your Driving License or Passport!
• They’re accepted by almost everyone worldwide: this includes banks, retailers and foreign exchange bureaus.
• They can be replaced when lost or stolen from any location worldwide within 24 hours.
• They never get old. If you do not use them this year on this trip then, you can save them for your next trip
The disadvantages of travellers’ cheques:
• They are not always a preference for retailers and merchants with many preferring credit or cash.
• With retailers and merchants preferring cash or credit, they become only useful for exchanging into the local currency at banks or bureau de change.
• The range of currencies offered as traveller’s cheques is restricted.
An alternative to Travellers Cheques are prepaid travel cards. Prepaid travel cards are becoming increasingly popular in comparison to travellers cheques. They are straight forward and
simple to use, working in the same way a credit or debit card would in an ATM or Chip and in device. They are able to do through their use of the Visa system.
You simple top up before you leave, most cards charge between one and 1.5% commission. of providers, charges range from a set up fee, to a small charge every time you top up. Be wary ATM’s that charge you to withdraw also!
Because you have to top up before you leave many people find this to be the best way of limiting just how much you spend. If in the unlikely case you do want access to more money, you can top up over the phone or online.
Because it isn’t linked to your bank account, you need not worry about someone draining your finances if it is ever lost or stolen.
The advantages of prepaid travel cards:
- You are able to withdraw money at any Cash Machine or ATM
- You can use it in exactly the same way as you would any Credit/Debit card
- They are accepted anywhere that accepts visa
- Unlike travellers cheques ,you do not have to carry ID with you in order to get cash.
- Like travellers cheques they help you to stay within your budget
- They are safer than using your own credit or debit card abroad
The disadvantages of prepaid travel cards
- You will still need an alternative method of accessing cash in case your card is lost or
stolen - Bank usually charge higher commission than they would travellers cheques.
- You may have to pay fees each time you top up
Enjoy your trip and hope to see you soon on any of our China Flights.
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