Holidaymakers enjoying benefits of pre-pay cards
June 10, 2008
A recent report has shown that many holidaymakers are now turning to pre-pay cards in order to fund their spending abroad. The report suggests that for many traveller’s pre-pay cards are a more secure, simpler, and more cost effective way of spending abroad without the security risks and extortionate costs associated with credit card, and without the hassle often linked to traveller’s cheques. The recent report was released by Travelex, which is a company that deals with these pre-pay travel cards.
According to Travelex officials these pre-pay cards are proving particularly popular amongst holidaymakers that would normally have relied on traveller’s cheques, as they offer a high level of security, total ease and convenience, and are far easier to use and carry around than traveller’s cheques. The Internet may have played a part in the growing popularity of these cards, as Travelex reports that there has been a rise of 1000% in the number of consumers that no go online to deal with their foreign currency and the like.
One Travelex official stated: “Traveller’s cheques are still in use but people are favouring pre-paid travel cards now. Security is so good with pre-pay cards, you can use them at the point of sale, you can draw money out at ATMs, so it’s just got so many advantages.” These cards are available from a number of places, including Travelex and the Post Office. Barclays Bank also recently announced the launch of its own pre-pay travel cards, reflecting the growing popularity of this type of plastic amongst those travelling abroad.
Research has shown that most consumers now prefer to pay by plastic rather than using cheques or traveller’s cheques when they go abroad, and in addition to using these pre-pay cards many consumers also rely on their credit or debit cards to conduct overseas transactions.
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