Limits on travel insurance for lost or stolen cash can leave travellers out of pocket Wednesday 8 April 2015 PDF Print iceplc.com Following recent news that a couple had their dream holiday ruined when £2000 of cash was stolen from their hotel safe¹ , travel money provider, ICE – International Currency Exchange is suggesting travellers consider a prepaid currency card as an alternative to carrying large amounts of cash on holiday. ICE is highlighting that while most travel insurance policies have a limit of £1,500 for personal belongings, often the value of cash covered by a policy is between £250 and £500². Koko Sarkari, COO of ICE said: “There is now a good choice of prepaid currency cards on the market with varying charges for their use so it’s worth taking time to shop around. Look for added extras, for example. The ICE Travellers Cashcard is the only prepaid currency card to offer a 1.5 % cashback on qualifying purchases³. It also comes with a free back up card so that if the first is lost or stolen, the second can be activated for use with little disruption to the holiday. “We suggest that travellers take enough local currency to pay for drinks, ice lollies, tips, taxis and so on, then consider putting the rest of their holiday spending money on a pin-protected prepaid currency card. Think about whether you are going to be visiting markets etc. where cash might be needed to help calculate how much to take. By taking a mixture of payment methods you’re not putting all your eggs in one basket.” A PIN protected prepaid currency card allows cardholders to travel light along with some coins and notes for tips and small transactions. It may help protect against fraud, but also helps holidaymakers budget as you can only spend what’s on the card. An additional benefit of a prepaid currency card is that the rate of exchange will stay fixed at the time you loaded money to the card*. *up to $100/€100, 7 days from the date of the last top up 1 - http://www.burytimes.co.uk/news/11847581.Couple_horrified_as... 2 - http://www.moneysupermarket.com/travel-insurance/guide/ 3 - on all purchases of £50/$50/€50 Key Benefits of the ICE Travellers Cashcard|iceplc.com/cashcard • 1.5% cashback on all purchases made of £50/$50/€50 or more on the respective cards • No commission • Free to obtain if the initial load is £700 or more. £4.75 if the initial load is less than £700 ¹ • Free cash withdrawals from ATMs ² • Free backup card in case of loss/theft • Free supplementary Family Cards for up to 2 family members • Free to top-up the Euro and US Dollar cards ³ • Free balance enquiries either online or at ATMs ⁴ • Free 7 day same rate buy-back guarantee – funds can be converted back to sterling at the same exchange rate ⁵ • No penalty fees, e.g. no charge if you fail to use your card for long periods of time and if you lose your card and need a replacement ICE will replace it for free • Accepted wherever the MasterCard® Acceptance Mark is displayed ⁶ 1 - There is a Top Up fee of 2.85% for sterling card. Top ups made by credit card incur a fee 2% 2 - Some ATM operators and merchants may charge a fee or set their own limits 3 - A 2% fee will be levied if topping-up with a credit card 4 - Some ATM operators may levy their own charge for checking account balances 5 - Up to $100/€100, 7 days from the date of the last top up 6 - The card cannot be used for participating in online gaming websites, at casinos or other gambling institutes, or to make regular money transfers Ends April 2015 For further press information please contact the ICE Press Office at HSL – Parm Heer, Laura Welsh or Alison Reeson on 020 8977 9132 or email@example.com Notes to editors International Currency Exchange (ICE) has been providing retail foreign exchange for over 40 years and today has over 400 locations in 20 countries, on four continents, conducting one transaction every 6 seconds. Through its retail network, ICE offers a wide range of products and services to support the travelling public’s requirements, including foreign currency and phonecards. ICE’s online products include commission free secure next day home delivery currency and the ICE Travellers Cashcard, an innovative prepaid MasterCard® in £, € or US$, which can be loaded with holiday spending money before travelling, allowing all the convenience of using a bank debit or credit card, but without the risks and charges sometimes associated Find ICE on Facebook /iceplc and follow them on Twitter @icetravelmoney|iceplc.com R. Raphael & Sons plc (Raphaels Bank) is the issuer of the ICE Travellers Cashcard and is a Bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Raphaels Bank is a leading issuer of prepaid cards in Europe with over 4 million cards issued through 20 partners across 14 European Countries with over 140 programmes ranging from gift cards to full Chip & PIN cards to mobile technology payment solutions|raphaelsbank.com This press release was distributed by ResponseSource Press Release Wire on behalf of Harrison Sadler in the following categories: Personal Finance, Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.