Abbey Savings: Brits 'saving up' for a European vacation
www.moneynews.co.uk > General finance > Abbey Savings: Brits 'saving up' for a European vacation
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Abbey Savings: Brits 'saving up' for a European vacation
Tue 24th Jun 2008
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The weak pound against the euro means that many European vacations are more expensive in 2008 than they were last year and Abbey Savings suggests that 62 per cent of Brits will use savings to jet off this summer.
Abbey Savings research indicates that the average spent on holidays is £1,650, with 23 per cent of British tourists planning to pay for a trip overseas from their monthly salary and 15 per cent intending to use their credit card to pay for a holiday.
Reza Attar-Zadeh, Abbey's director of savings and investments, stated: "Putting away £137 each month to pay for the average summer holiday is no small task, but there's nothing more satisfying than saving towards a goal. Abbey is committed to offering customers a variety of great savings options to meet every savers needs."
The Abbey Fixed Rate Monthly Saver pays 7.25 per cent AER fixed for one year and is available for deposits of between £20 and £250 a month.
A recent study by Abbey Credit Cards found that 92 per cent of British holidaymakers are not aware of the practice of dynamic currency conversion, with many believing that paying in pounds while abroad offers them a cheaper option. However, this is not a way to avoid costly foreign exchange fees and can often result in uncompetitive rates being applied to transactions.
Related News : General finance |
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Related News : Santander |
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