Pre Paid Money Card For A Trip To Mexico

[jay_tee]

Thinking of getting one of these as I like the idea it is not tied up with my bank account. Lady at the post office advised a Dollar one but I dont understand why I cant use a Sterling one as surely whatever currency it is in it will get converted to Peso anyway when I withdraw money.
Any advice appreciated and also whether you think they are a good idea.

[sunny-dave]

Dollars effectively exist as a 'parallel currency' in Mexico. The Dollar/Peso rate will be much more advantageous to you than the Pound/Peso rate.

It will also often be much cheaper to pay directly in Dollars from your card, rather than pay in Pesos and then have currency conversion fees to Sterling.

[jay_tee]

Great. Thanks for the advice.

[theshedman]

Yes the US Dollar one would be the best to get. Personally I get mine from Thomas Cook as the rate is usually better than in the Post Office, check and order on-line first. My bank charges if I use my debit card for doing this so I take cash into the TC store to avoid this. Also you can get a second card with Thomas Cook so if you lose one you can contact them to cancel that one and still use the second. That way you won't need to pay for them to send you a replacement.

[jay_tee]

Thank you
My OH will be taking one as well so we will have 'backup'. Always get a bit nervous using them for the first time abroad in case the ATM eats it for some reason!

[VHG]

Note that people in Mexico are happier to get paid in Peso rather than dollars.

You get a bad exchange rate if you pay in dollars.

[jay_tee]

OK Thank you

[theshedman]

What I meant by having a second card was that you use it on the same account so you will still be able to get at your money if you lose one of them as all the funds are shared by both the cards. If you both have a card from the Post Office then they are completely separate so if you lose one you have to get them to send a new one to be able to get at the money on that card. The ATMs, shops and restaurants treat these cards just like a debit card so you shouldn't have any problem with it being eaten.

[jay_tee]

Oh I see. That is a good idea. Thanks for the tip.

[spudqueen]

http://www.postoffice.co.uk/travel-money/card