Credit cards overtaking travellers cheques in popularity stakes

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Credit cards overtaking travellers cheques in popularity stakes

Thu 12th Jul 2007

Credit card usage overseas is becoming increasingly popular among Britons, UK payments association Apacs has commented.

A spokesperson for the group said that using cards while on holiday or on a trip overseas was far more convenient than using travellers cheques.

"People tend to use cards because they're just more convenient and you know what you're getting," she said, adding that customers often had to pay a range of fees to use travellers cheques.

Apacs also said that there were a number of areas in which travellers cheques might not be accepted.

"So with travellers cheques in lots of areas of Europe, the only way to get the funds is to queue up in a bank," she said, adding: "And that may not be the way you want to spend your holiday!"

The introduction of the chip and pin system has also made the use of a card far less risky for consumers, Apacs suggests.