LONDON, June 18, 2014 /PRNewswire/ --

- The New Ukash Travel Money Prepaid MasterCard® Card http://www.ukash.com

Designed to give UK holidaymakers the best value for their pounds this summer, the new Ukash Travel Money Prepaid MasterCard card offers the best possible foreign exchange rate on the market.  Launched by leading payments innovator, Ukash, there are no charges for sign up, transactions or ATM withdrawals abroad, which means that the Ukash Travel Money card definitively offers the best way to make holiday money go further in Europe and the USA.

David Hunter, Chief Executive of Ukash categorically believes British holidaymakers taking the Ukash Travel Money card abroad will be able to make their spend go further. "We recently researched** the spending habits of UK holidaymakers and were horrified at the lack of knowledge about inflated transaction fees as well as the cost of withdrawing cash from ATMs.  

"Over a quarter (26%) said they take out cash at an ATM abroad and more than half (58%) say they use their UK debit card abroad.  It seems incredible to me that while UK holidaymakers are good at driving a bargain on holiday deals, they can blow these savings and more, by accepting poor exchange rates and ATM fees on their spending money.  The Ukash Travel Money card is the simple and convenient way to make spending money go further, with the best exchange rates and free ATM withdrawals."

Marion King, President UK & Ireland at MasterCard said: "We are delighted to partner with Ukash to launch this prepaid card which provides the UK holidaymaker with better exchange rates and acceptance at ATMs across the globe, free of charge."

The Ukash Travel Money card:  The Facts 

• Guaranteed lowest FX Rate on the market
• No transaction fees
• Free ATM withdrawals in Europe and the US
• Free balance enquiries online, at ATMs and SMS
• Available in Euro and US Dollar
• Free top up by debit card
• No application fee
• No annual fee
• Chip and PIN security
• Use as over 34 million outlets that show the MasterCard Acceptance Mark
• Minimum load value: £50
• Maximum single load: £2,000
• Features chip and PIN security
• Can be used at over 34 million outlets worldwide that accept MasterCard

Analysis* of the Ukash Travel Money card provides clear evidence that it is the best value way to spend abroad.

                     Exchange rate
                     EUR              GBP500 worth  Exchange rate USD   GBP500 worth

    Ukash            1.2381           EUR 619.05       1.6773             $ 838.65
    Travelex         1.2225           EUR 611.25       1.6565             $ 828.25
    Caxton FX        1.2250           EUR 612.50       1.6600             $ 830.00
    my Travel Cash   1.2117           EUR 605.85       1.6422             $ 821.10
    FairFX           1.2305           EUR 615.25       1.6670             $ 833.50
    Post Office      1.2015           EUR 600.75       1.6337             $ 816.85

*  Ukash analysis of prepaid currency card costs, conducted 18^th June 2014 at 9.30am 

** Populus poll conducted May 2014 - 2000 respondents

For further press information or interviews please contact the Ukash Press Office at HSL:  Wendy Harrison, Clare Watson, Nakhalar Sterling or Ed McCambridge, +44(0)208-977-9132, ukashteam@harrisonsadler.com

Notes to Editors 

Ukash is regulated by the UK Financial Conduct Authority (FCA).

The Ukash Travel Money Prepaid MasterCard is issued by Prepaid Financial Services Limited pursuant to a license from MasterCard International Incorporated. Prepaid Financial Services Limited is regulated and authorised by the Financial Conduct Authority.

SOURCE Ukash