Thứ Hai, 27 tháng 5, 2013

Journey"s end for travellers" cheques with just one in 12 holiday makers using them


  • They have fallen in popularity as pre-paid cards and hard cash take over

  • More than half of those surveyed say they have lost money abroad



By

Daily Mail Reporter




PUBLISHED:


16:02 EST, 26 May 2013




|

UPDATED:


16:02 EST, 26 May 2013



The trusty travellers’ cheque could be dying a death amongst British holidaymakers, a new study has revealed.


Just one in 12 have used them in the past year and most people now prefer cash or cards.


The survey examined the financial habits and preferences of Britons abroad; questioning more than 1800 UK adults who had been to foreign parts in the last 12 months.


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Losing value: Once a mainstay of holidays abroad, the trusty travellers’ cheque is losing popularity


Asked what kind of money they took away with them the majority (78 per cent) said hard cash with 56 per cent choosing debit or credit cards and 34 per cent taking pre-paid cards.


Of the eight per cent who said traveller’s cheques, three quarters (75 per cent) saw them as a more ‘secure’ option whilst 13 per cent said they ‘didn’t like’ carrying cash while travelling.


Of those who carried currency, only 18 per cent claimed to have shopped around for the best exchange rates before changing their British pounds.


More than a quarter (26 per cent) claimed to be aware that they hadn’t got the best rate but went ahead with the transaction anyway.


Asked if they had ever lost or had money stolen whilst they were abroad, 64 per cent said ‘yes’. And more than half of those admitted they did not have the correct insurance in place to replace the cash.


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Most British holidaymakers now take hard cash or use pre-paid cards when they go abroad


Almost two thirds (60 per cent) of those who took cash with them on their last holiday admitted that they had run out of before the end of their stay. In contrast, just 14 per cent of those with travellers’ cheques had done the same.


Mark Pearson, Chairman of MyVoucherCodes.co.uk who commissioned the survey, said: ‘It seems travellers’ cheques aren’t as popular as they once may have been – probably because of the other options now available which seem somewhat easier, such as a prepaid card.


‘Britons still seem to favour cash when it comes to travelling abroad, but it seems this does nothing for successful budgeting, as the majority of those taking cash with them last year ended up overspending.


‘Whatever method you choose, just make sure you’re protected against loss or theft of money.


‘Holidays don’t come cheap, and you don’t want them to cost more than they have to.’





The comments below have not been moderated.



More secure ways of cash transaction will always be set aside for connivance carrying loads of cash or handing over your debit/credit card details numerous times in sometimes dodgy countries can not be good



maildog1

,


warrington, United Kingdom,

27/5/2013 13:46


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They are a rip-off. You get charged a commission when you buy them, then you get charged commission again when you try to exchange them, and you are charged commission again when you try to change spare ones back into GBP when you get home. You also have the hassle of carrying your passport everywhere as proof of I.D. when you want to exchange them. They are a thing of the past now with the advent of debit/credit cards etc. A real relic of the 70s and 80s package holiday.



peachy01

,


PRESTON, United Kingdom,

27/5/2013 12:16


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I’m currently trying to change TCs at a Standard Chartered Bank in Bangladesh and I’m getting refused because I do not have the original purchase papers with me. My passport and matching signature is judged insufficient, now that’s why I will never use them again …



Naive

,


Neverneverland,

27/5/2013 11:13


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I haven’t used them in nearly twenty years, too much hassle.



Eric Arthur Blair

,


Plymouth, United Kingdom,

27/5/2013 11:02


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Travelex – 20 euros exchanged for £10.40. Thieves.



Brian

,


London, United Kingdom,

27/5/2013 10:22


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On a tour a couple of years ago in Italy an Americantravelling companion brought travelllers cheques and found it almost impossible to get a bank to exchange them, they just didn’t want to know. Eventually it was a ‘bureau de change’ which obliged, but at what rate I don’t know; whatever they chose I imagine, as it was that or nothing, and with only a few euros in cash, what else could she do? Her travel agent had no idea about the difficulties with these outdated arrangements when she advised her.



nannybee

,


Nailsworth, United Kingdom,

27/5/2013 09:38


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NEVER one in twelve. One in twelve hundred perhaps.



Nick Clogg

,


Amsterdam,

27/5/2013 08:33


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I stopped using these years ago. The Banks charge you for getting them and when you cash them in you get charged again. Steer well clear of these an use cash and debit/credit cards.



harrymudd

,


London, United Kingdom,

27/5/2013 07:54


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Really more trouble than they’re worth. Had to jump through hoops in a Rome bank a few years ago and it was very intrusive.



George W

,


London,

27/5/2013 07:36


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If advertised more would use them still the best way to travel with currency over seas countries including Euro.



Boatrider

,


Devon, United Kingdom,

27/5/2013 06:54


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