First Choice and Thomson have launched a pre paid travel money card that is backed by MasterCard.

The money card can be topped up with US Dollars and Euros to buy goods at over 28 million locations worldwide.

The travel money cards will be promoted in 806 Holiday Hypermarket, First Choice and Thomson branches.

Jeremy Osborne TUI UK director of financial services said “We think this is something our customers will find assists them in planning and budgeting for their holidays.

“As the card is pre loaded with a fixed amount of currency at a given rate, it will appeal to the budget conscious as it makes it much easier to manage finances whilst away.

“Customers will benefit from significant savings when compared to most credit or debit cards whilst also eliminating any additional foreign exchange fees.”

The card is valid for three years and any unused funds can be kept on the card for future use.