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Savvy travellers 'should take a mixture of payment methods abroad'

09 February 2010 13:10

Savvy travellers 'should take a mixture of payment methods abroad'

If you're going abroad soon or are planning a holiday for the summer, the chances are you'll need some spending money for all those cocktails and souvenirs.

However, relying simply on foreign currency could increase the likelihood of having to claim on a travel insurance policy if it gets lost or stolen, the Post Office has warned.

Sarah Munro, a spokesperson for the company, was speaking in response to recent research from Santander which showed that 52 per cent of all Brits take cash as their primary payment method when going on holiday.

She pointed out that while some cash is important when it comes to paying for things like taxis and goods in small shops, it may be better to carry other methods of payment for extra security.

Although credit cards may be one good way to do this, a pre-paid travel money card could be better as it is not connected to your bank account.

"It's a really flexible means of carrying money and you don't need ID to cash funds … Best of all it is very secure and can be quickly replaced if lost or stolen," Ms Munro said.

This is great advice when it comes to managing your travel cash. However, should the worst come to the worst and you do lose some money, you'll be pleased to know that we include cover for lost money and personal effects in all our travel insurance policies and a 24-hour emergency assistance and legal advice service as standard for when things go seriously wrong.

Published by World First Travel Insurance - providers of worldwide travel insurance for all types of holiday, cheap annual travel insurance and great family travel insurance. Get in touch for competitive travel insurance quotes today.

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