The Cambridge Building Society has teamed up with Travelex, the world's largest foreign exchange company, to save customers money and time when it comes to cash for their winter holidays.

The Travelex Cash Passport, which is available at all of the Society’s branches, is a prepaid currency card that comes with all of the security of travellers’ cheques yet with all of the convenience of a card. There’s no purchase fee and it's not linked to your bank account.

Andrew Ferguson, Head of Sales and Marketing at the Cambridge Building Society said, “With all this cold weather here, we know that many people are planning a getaway, either to the ski slopes, or somewhere hot to escape the bleak British winter. We’re always looking for ways to help travellers to reduce their costs and this is a neat and secure way to do just that.

“The Travelex Passport offers customers access to seven global currencies, including the Euro and US, New Zealand and Australian Dollar. It also comes with an award winning 24/7 Global Emergency Assistance package. And any unspent funds can be rolled over to the next holiday, skiing or otherwise, spent in the UK or turned back into pounds.”

Prepaid cards have grown in popularity recently as they can help to control spending patterns. Exchange rates are set at time of purchase so there are no nasty surprises when you go to the ATM and withdrawal fees from Travelex have recently been abolished so the money you pay for doesn’t cost you any extra.

“Best of all”, adds Andrew. “Customers can pick them up over the counter at any of our branches, thus avoiding the hassle of having to order travellers’ cheques or currency in advance.”