1 in 4 holidaymakers stranded abroad without money

Published on 1 January 1970 by Raffick Marday

The rising cost of going on holiday is something that everyone looks to cut down on by snapping up bargains and carefully planning budgets, but even the best laid plans can go awry and holidaymakers can find themselves stranded abroad without any funds.

Out of pocket

New research from My Travel Cash has revealed that nearly one in four British holidaymakers have at some point found themselves stuck in a position where they are in a foreign country without access to any money.

There are many sets of circumstances that can lead to being caught up in a scenario like this, and the study has shown that the top three causes result from overspending, being a victim of a crime or simply managing to misplace money.

Prevent holiday overspending by taking a prepaid card overseas. Loading currency before you go helps you stick to a pre-determined budget.

CEO of My Travel Cash, Myles Stephenson, commented on the results of his company’s survey: “Keeping currency safe and secure while abroad is essential for enjoying and getting the most out of your holiday. No one wants to lose precious time on hold to his or her bank or to be calling on family members back in the UK for help.

“It is even worse when these incidents occur at night-time or weekends, only to be met with a frustrating automated message advising the panicked holidaymaker to call back during working week opening times.”

Indeed, the time zone difference can add complications and it can also be difficult to find the right telephone numbers to call to report lost or stolen cards to your bank or credit card company.

The research found that not all age groups were equally at risk. 60% of those respondents who said that they had found themselves in a difficult situation without money abroad were younger travellers who were aged under 25.

These findings might be explained by the fact that younger travellers are less experienced in managing money, but also that they may engage in riskier activities and visit more dangerous places than older holidaymakers.

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