Brits overpaying for holiday cash
28 May 2009 07:49
Research has shown only a minority of travel insurance customers are choosing the most cost-effective way of buying their holiday money.
Almost all UK travel insurance customers are overpaying when purchasing their foreign currency, it has been found.
While nearly seven in ten (69 per cent) of Brits believe "every penny counts" when it comes to buying money for holidaying abroad, two per cent use the most cost-effective method, according to research from FairFX.
Around 98 people in every hundred do not use pre-paid currency cards, which the exchange company states it is the cheapest method of spending abroad.
Two-thirds (66 per cent) prefer to spend cash bought in the UK, while 29 per cent rely on notes from a foreign ATM, the study found.
Meanwhile, 21 per cent are paying a premium by using their credit cards while on holiday.
"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 FairFX chief executive Stephen Heath.
Meanwhile, the Air Transport Users Council recently suggested the number of bags lost by airlines is not good enough, suggesting fliers would be wise to invest in travel insurance to make sure they're covered.
-
Airline passengers were left stunned after half of all flights from Heathrow were axed despite dry weather being forecast following...
[more...]
-
Health officials in Mexico have reported that a swine flu epidemic is sweeping the country.
[more...]
-
Hungary's national airline
Malev has ceased flying after 66 years in service, it has been announced.
[more...]
-
A new world record has been set after 145 water-skiers were pulled along by just one boat.
[more...]
-
Heavy fog affected the plans of hundreds of travellers earlier this week when around 35 flights were cancelled from Abu Dhabi's...
[more...]
-
Adding optional extras for flights can now be as easy as choosing the right
travel insurance policy after the
...
[more...]
-
Parents taking asthmatic children on holiday may be interested in research that claims some cases of the condition may be caused...
[more...]
-
At least 22,000 passengers have been affected after an airline went bust, stranding customers at Spanish airports.
[more...]
-
A cross-country ski festival in the US is being moved with a week to spare after snow weakened ice.
[more...]
-
The NHS has issued guidance for people with diabetes about what they eat while they're on holiday.
[more...]
-
A new customer-friendly website has been launched by GolfHolidays.com to ensure that enthusiasts of the sport have the easiest...
[more...]
-
Typhoid cases have risen in parts of Zimbabwean capital Harare amid reports that some residents are no longer shaking hands for...
[more...]