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TELECOMS INDUSTRY
REPORTS
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Top five tips for using money abroad
04/07/08
1. Know your budget –
research the average cost per day of your holiday to set a realistic budget
France could see you become a tea-totaller with a pint costing a
frightening £6. But head to Indonesia and that beer will cost you only
£1.54.
In New York, a bed (3*) can cost you a whopping £325, yet in Malaysia the
equivalent is a mere £50
2. Get the most for your money – buy before you fly. Lock in a more
favourable rate in the UK before you go and minimise overseas card charges
Most (43%) of travellers buy their foreign exchange two weeks before they
depart
3. Don’t get caught short – You’ll get less Euros this year than last but
more US Dollars for your Pound so be prepared to alter your budget to
reflect currency fluctuations
4. Be secure – with ID theft and fraud on the rise, protect yourself with
products that don’t make personal details visible and avoid links to your
bank account with product such as Cash Passport
Over 60% of travellers fear credit or debit card cloning while abroad
5. Ensure your holiday can continue even if your wallet is lost or stolen
abroad.
Foreign Banknotes are unlikely to be insured while replacement of cash or
cards can take weeks and require payment of hefty international delivery
fees. All products supported by Travelex come with 24/7 Global Emergency
Assistance including access to emergency cash in as little as 20 minutes.
6. Don’t lose leftover foreign currency – Most High Street retailers will
offer free buyback for leftover currency or you can keep it on a prepaid
currency card for your next trip
80% of travellers return with leftover currency and 85% plan to save it for
their next trip, assuming they can remember where it’s stored
www.travelex.com
Nick Gibson, editor
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