The Post Office has removed the £10 purchase charge from its Travel Money Card. The card is a commission-free, pre-paid card which can be loaded with either sterling, euros or dollars. Like a debit card, it can be used in Visa ATMs worldwide and at retailers.

A prepaid card is a secure method of carrying holiday money, as it is not linked to a bank account and customers can choose their own PIN number to access their money. It also helps with budgeting, as you can only spend what you have loaded on to the card.

The card, issued by the Bank of Ireland, can be topped up by telephone from anywhere in the world. Top-ups are free on foreign currency cards but on sterling cards a 1.5% commission rate applies, subject to a minimum fee of £3 and maximum fee of £20.Foreign cash machine withdrawal fees and currency charges may apply, determined by the overseas outlet where the card is used.

The minimum initial load is £50, but smaller amounts can be added subsequently. If the card is lost or stolen a replacement card can be sent to overseas holiday destinations within 48 hours - for which a fee may be charged -  or posted to a home address free.

The card can be purchased at any Post Office that offers "on-demand" bureau de change services or online.

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