British Holidaymakers Becoming 'More Savvy' With Their Travel Money

LONDON, May 22, 2013 /PRNewswire/ --

Research carried out by leading currency specialist, FairFX, shows that British holidaymakers are becoming more knowledgeable when sourcing their travel money for trips abroad. 

According to a survey amongst 680 Brits, most people are now informed about poor airport exchange rates as 90% of the respondents plan ahead when it comes to getting foreign currency to try to avoid poor rates at the airport foreign exchange desks. Good news is that only 9% of respondents are still influenced by 0%-Commission offers which are notoriously misleading and mask hidden fees and poor rates.

Interestingly, almost 60% of respondents said they save up for their trips beforehand so that they don't have any debt when they return home. This is in line with the overall trend of travellers becoming more budget-conscious and savvy when it comes to savings and spend.

FairFX CEO, Ian Strafford-Taylor said "It is clear that holidaymakers are now taking pride in finding a good deal and will shop around for the best offer. With many travellers now saving for their hard-earned holidays before they take off, prepaid travel cards, such as the FairFX range of cards, is the leading option in pre-holiday saving and budgeting as they combine great exchange rates with the flexibility to load currency at any time. One of the many benefits of the card is that is can effectively provide a spending cap for your trip."

The survey also showed that up to 76% of respondents are planning more than 2 breaks this year, so  despite tough economic times people are still taking holidays abroad although the destinations of choice are likely to be closer to home with 57% planning to stay within Europe. Despite being more penny-wise, just over two thirds of holidaymakers however confirmed that the currency exchange rate doesn't really impact their choice of holiday destination, they'll simply plan and budget in advance.

Notes to Editors

FairFX is an online currency specialist. They provide travel cash, currency cards, wire transfers and business expenses platforms to consumers and businesses throughout the UK. Since forming in 2007, FairFX has campaigned for transparency in the travel money sector and prides itself on providing competitive services with no hidden fees to consumers.

Ian Strafford-Taylor is available for further quotes and interviews.

For press enquiries please contact Mariette Ferreira at FairFX, pressoffice@fairfx.com. Up-to-date currency comparison tables, FX market data and currency analyst quotes are available.

Media Contact:
Mariette Ferreira, Marketing Manager
+44(0)20-7778-9312
pressoffice@fairfx.com