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Prepaid foreign currency debit cards are set to become the way that most holiday spending is carried out in the future, a financial expert has claimed.

The cards allow travellers to 'load' money onto a debit card in the currency of their choice, enabling them to then make ATM withdrawals and transactions abroad without paying an extra fee.

Steve Willey, head of cards and payments at financial comparison site moneysupermarket.com, said that the use of prepaid travel cards has 'taken off' recently.

'In terms of their use, effectively they're a traveller's cheque replacement,' he added.

'Once people have got comfortable with the concept and realise that there are savings to be made, then I think this will become just 'the way to do things'.'

Prepaid cards also offer travellers added security, as they can be frozen and the balance can be retained without the cardholder's bank details being compromised.

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