Planning a Christmas getaway? Don’t forget your cash! 44 percent of Brits use more cash on foreign trips than at home, avoiding transaction fees and staying on-budget to enjoy ‘a more convenient, stress-free holiday’.
New research, conducted by YouGov for ABTA Travel Money, polled 2,060 UK adults on their vacation spending habits and found just seven percent of people use less cash when away. A key reason for carrying local currency was being able to make purchases anywhere, including smaller shops or restaurants that may not be equipped to accept cashless payments.
Another popular reason was to avoid bank charges levied on foreign transactions—which are typically unclear to the purchaser until after the transaction has been processed—and fears over cards being stolen, allowing access to an entire bank account rather than one wallet’s worth of cash.
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- Graeme Buck, Director of Communications, ABTA Travel Money
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- For many travelling abroad, our research suggests that cash is still king when it comes to spending on holiday. Standard payment types vary from country to country, so it is essential to make sure you take enough travel money as you may find you need, or prefer, to pay with cash. Having foreign currency makes for a more convenient, stress-free holiday.
