Holidaymakers 'prefer cash to travellers cheques'
www.moneynews.co.uk > General finance > Holidaymakers 'prefer cash to travellers cheques'
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Holidaymakers 'prefer cash to travellers cheques'
Thu 28th Jan 2010
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Around 52 per cent of people took cash on holiday with them, instead of paying through their credit and debit cards.
The once popular travellers cheques have fallen out of favour with just five per cent of travellers opting to use them, which is the same amount as hold a foreign bank account.
With around 47 per cent of those who prefer cash taking three-quarters of it out of foreign ATM machines, Santander customers have a good deal as they can use the bank's 4,300 machines in Spain without incurring charges, while Zero account holders can use any cash machines worldwide without an additional fee.
Vim Maru, director of retail products with Santander UK, commented that there are safety risks to be considered when carrying large sums of cash. In addition, many travellers opt for paying with cash as they believe there will be a better exchange rate, but the rate on plastic tends to be close to the daily wholesale rate.
Click here for more general finance news
Related News : General finance |
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Related News : Santander |
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