Travellers 'are not using cheapest way to spend abroad'
Wednesday, May 27, 2009British travellers could make significant savings on their travel spending by using a pre-paid currency card, a foreign exchange provider has advised.
According to the latest report from FairFX, travellers are not acting prudently when it comes to their holiday money.
Some 69 per cent of Brits said that "every penny counts" when looking to exchange their pounds but then do not use the cheapest way to spend, it revealed.
Many travellers still use a credit card while in a foreign country (21 per cent) despite high charges on overseas transactions and 29 per cent opt to withdraw money from a foreign cash machine.
"There seems to be quite a large divide between consumers' desires to make the most of their cash and the reality of their foreign spending habits," said Stephen Heath, chief executive at the company.
He went on to say that by using a pre-paid currency card for holiday spending, a family of four could make a saving of around €200 or $300 (£175 or £188).
Travellers are increasingly searching for holiday options that will help renew their spiritual wellbeing in the light of the credit crunch, according to a recent report from Responsibletravel.com.
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