Cash rules for holidaying Brits

Published on 1 January 1970 by Raffick Marday

British holidaymakers have shown that this summer they will be using cash as their number one payment choice abroad.

A survey conducted by Tesco bank has shown that most British holidaymakers (84%) intend to take their foreign currency in cash on their holiday this cards

The findings also suggested that the average amount of currency taken abroad to cover holiday expenditure was just over £400.

Seemingly, Brits are becoming more careful when purchasing their travel money as a result of challenging financial times.

Almost three quarters (71%) of individuals said they will always buy their travel money before leaving the country and what’s more is that they take considerable time making sure they find the cheapest deal.

The savvy Brit will also avoid overspending as over a third (34%) revealed that they will only spend the cash they take with them on holiday.

Euan Ballantyne, Head of Travel Money at Tesco Bank, said: "Our research shows getting a good deal on foreign currency this summer is a great way to manage your holiday budget. We already see this reflected in the amount of foreign currency that people are exchanging at Tesco Travel Money.”

It seems British holidaymakers are favouring countries in the Eurozone for their holiday location this year due to the cheap Euro, low accommodation and largely reasonable living expenses in Europe.

The findings revealed that almost three quarters (73%) of holidaymakers are planning to purchase the Euro, followed by 15% of Brits intending to buy US Dollars.

The Turkish Lira was the third most wanted currency, with 7% of Brits expecting to buy the currency for their holiday this year.

In tough economic times it is good to know that Brits are taking the time to get the most from their money as well as budgeting and manage their finances effectively.

Holidaymakers may find it easier to stick to a holiday budget by putting their holiday money on to travel cards.


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