New research by Currensea reveals that nearly three in ten (27%) holidaymakers are losing out on their travel budgets due to poor exchange rates and higher fees at airport Bureau de Change. The study suggests that 8 million travellers are impacted, with younger travellers and parents of school-age children being most susceptible. Currensea urges travellers to consider specialist travel cards offering better value and avoiding unnecessary fees.
Holidaymakers are often attracted by the convenience of using airport Bureau de Change ahead of leaving the country, however, new research from travel debit card, Currensea, indicates that almost three in 10 people are losing out due to poor exchange rates and higher fees. The survey shows that almost eight million travellers do this which eats into holiday budgets.
Currensea said that two-thirds of people revealed they felt ripped off when they have to pay to withdraw money from ATMs abroad and are hit with fees. The foreign currency experts said there is a lack of understanding around the cost of using bank cards while overseas - half of travellers admit that they never actually know how much they are being charged to withdraw foreign currency while on holiday.
Relying on cash for holidays also risks travellers being hit with additional fees when they return home. If individuals have any remaining foreign currency, exchanging it back into Sterling may incur additional fees which add to the overall cost of a holiday. “With the financial pressures of the past few years it is more important than ever to maximise the holiday budget. Travellers should opt for specialist travel cards that offer more value, help them avoid unnecessary fees and provide them with the freedom to spend as they wish abroad without incurring additional costs.
TRAVEL FINANCE EXCHANGE RATES FEES HOLIDAY SAVINGS
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