Post Office Travel Insurance: Brits prefer cash over plastic

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Post Office Travel Insurance: Brits prefer cash over plastic

Tue 1st Aug 2006

Cash is the most popular method of payment for British holidaymakers when they travel abroad, according to new research for Post Office Travel Insurance.

The research found that almost half of all people, 47 per cent, prefer to use local currency, while around a third made use of their credit or debit card and paid with plastic.

Overall sales of travellers' cheques dropped by 12 per cent in the last year and as travellers increasingly venture outside Europe, new currencies are more often being exchanged in Post Offices around the UK.

Kevin McAdam, head of travel and leisure at the Post Office, commented: "With so many places now offering commission-free deals and competitive rates, hard currency is unbeatable for convenience and value-for-money."

"And with budget airlines flying to even more destinations, we are seeing demand for a wider range of foreign currencies for different countries, especially Eastern Europe," he added.

The Post Office now also provides home and car insurance products.

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