NEWS

TRAVELLING ABROAD? DON'T FORGET YOUR CASH PASSPORT!

07/03/2011

The secure and convenient way to spend money abroad.

Travellers Cheques have declined in popularity significantly over the last decade as travellers are choosing the convenience of credit and debit cards rather than having to find somewhere to get cheques encashed. These cards can bring their own problems however with ‘hidden’ transaction fees for usage and an unclear exchange rate. It’s often not until you get home and read your statement that you realise just how much you have spent.

There is an answer however and it lies within the Society’s new partnership with Travelex to provide a ‘Cash Passport’. This is a VISA card with a difference; it's a pre-paid card which can be loaded with foreign currency in the UK and used abroad like any other VISA card at ATM machines and point of sale outlets, making it a flexible and secure means of carrying money abroad.

You can fix the exchange rate on the date of purchase so you are not vulnerable to unreliable exchange rates. What’s more there are NO fees charged for these transactions, unlike ‘normal’ debit and credit cards, and there are no fees for loading the cards*. They can be added to by making a telephone call or visiting a secure website whilst abroad. When you get home you retain the card and can add further funds to it in any our branches before your next holiday.

As the card is not linked to a bank account there is no danger of overspending and funds can be accessed by more than one card. This means that two people travelling together can carry separate cards so that if the first is lost or stolen, it can be cancelled and the second can be used immediately in its place. The card also offers free emergency assistance whereby travellers in distress can seek help 24 hours a day, all year round, from anywhere in the world.

Cards are issued for free and there is no lengthy application process. Simply bring along a valid EU passport or full UK driving license to any of our branches and you will be issued with a card and PIN number on the same day.

For further details contact 0161 429 6262 or call in to one of our branches.

*Excludes sterling where a 2% load/reload fee applies. This fee is reduced to 1.5% if done through a Vernon Building Society branch

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*The 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Vernon Building Society is authorised and regulated by the Financial Services Authority (registration number 195475). It holds the following authorisations: to advise on and arrange mortgage business; to arrange general insurance business; and to introduce mortgage, general insurance, life assurance and investment business. You can check this on the FSA's website www.fsa.gov.uk/pages/register. We are also a participant of the Financial Services Compensation Scheme (FSCS). Details of the scheme can be obtained from www.fscs.org.uk

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For independent information about financial products and services visit www.moneyadviceservice.org.uk

Vernon Building Society • 19 St Petersgate • Stockport • SK1 1HF

Tel: 0161 429 6262 • Fax: 0161 429 6996 • Email: info@thevernon.co.uk