Travel News

Pre-pay travel cards 'gaining in popularity' - 10/09/2007

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Holidaymakers are opting for pre-paid travel cards over traveller's cheques, according to Travelex.

The popularity of the pre-pay system is boosted by customers' increasing willingness to pay with plastic, said a company spokeswoman.

"Traveller's cheques are still in use, but people are favouring pre-paid travel cards now," she said.

The number of online transactions for currency purchases has risen by 1,000 per cent in the past three years.

Pre-paid cards, which travellers can load with spending money before their holidays, can be used for a variety of transactions, including point-of-sale purchases and withdrawing cash from ATMs.

Safety features, including a pin number and signature protection, could make travel cards attractive to customers who are serious about keeping their money safe, while 24 hour emergency assistance is often available if a card gets lost or stolen.

Cards can be pre-loaded in sterling or with foreign currency such as euros or US dollars for the certainty of a fixed exchange rate while travelling.

Because of reduced overheads, online providers can often offer a more competitive rate of exchange to their customers than traditional bureau de change operators.

Travelex has a number of offices in the UK and worldwide.

© Adfero

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