The gift of travel

Poochie05

Hi all,
Not sure if this is best here or in the banking and finance section, but hoping some of you may have some thoughts.
My aunt has a special birthday coming up and as herself and her husband love to travel some of us wanted to club together to give her a travel fund that she can use to book whatever trip she'd like, but wondering the best way to do it, other than giving her cash. Some options we've come up with:

1. Travel vouchers for somewhere like Click and Go or similar - only issue is it may be a bit restrictive if linked to just one company/airline
2. Pre-paid debit card with money loaded on to it so she could use it like a credit card and book whatever she wants online with whoever she wants
3. Open an account and lodge money - give her the deposit book marked 'Mary's travel fund'

Would welcome any thoughts, ideas, advice on things to look out for, experiences...

kerry4sam

That's a Beautiful Idea

I'm okay with it here but if you'd like it moved then just report your own post and it shall be moved.

Think the better idea would be a separate savings account with reference to the recipient and present the savings book to them.

The vouchers can be hit & miss and may not suit them with their travel preferences and the pre-loaded cards, imo, may not be best as they may prefer some cash (some maybe in hidden places on them); some travellers cheques etc etc.
I don't know, just think the savings account would be a safer & better option for anyone travelling and allow them the option to decide on how they wish to bring the monies.

Just my tuppence,
kerry4sam

Layinghen

I agree with Kerry, the vouchers could end up being very restrictive.

The idea of a holiday fund is brilliant, that way they can use the money to book their trip or alternatively use it while away to go out for nice meals or day trips.

Wonderful thought.

Poochie05

Thanks guys, that's the option I would be favouring myself.
It's as good as cash so no restrictions or T&Cs that you might get with vouchers or pre-paid cards.

endofrainbow

whatever you do, don't get her Travelers Cheques

zagmund

You're not going to be able to open an account in her name - money laundering regulations and all that stuff. You could always make a joke out of it and stuff a big wodge of cash in a brown envelope (along with a note which says she *has to* open a holiday account and put it in).

The other possibility is something like this - https://www.travelcash.ch/en/product-information/benefits.html. I'm just floating it and am not recommending it as (just with vouchers) there's always the possibility the funds could go up in smoke or it could get lost. This is equivalent to a pre-loaded credit card. There's a 1% loading charge and a 1% usage charge which isn't entirely unreasonable.

Obviously cash can get lost too, but once it's in a bank account it should be safe enough.

z

Poochie05

I have just been looking in to it and you are right, you cannot open a savings account for anyone else (unless a child), so that's not an option
I've googled 'creative ways to give cash' and there are some nice ideas, so I think this will be the route we go.

Perhaps a money tin inscribed with 'Mary's Travel Fund' or something will do the trick.