New research from First Rate Exchange Services (First Rate) has revealed some interesting trends in the usage of travel money cards by UK travellers. Although 95 per cent of travellers who purchase travel money before they travel say foreign currency is top of their holiday money mix, latest figures from First Rate reveal that travel money cards are fast becoming a staple in UK holidaymaker’s travel wallets – the First Rate research revealed a year on year growth of over 30 per cent2 across euro, dollar and sterling Travel Money…
New research from First Rate Exchange Services (First Rate) has revealed some interesting trends in the usage of travel money cards by UK travellers.
Although 95 per cent of travellers who purchase travel money before they travel say foreign currency is top of their holiday money mix, latest figures from First Rate reveal that travel money cards are fast becoming a staple in UK holidaymaker’s travel wallets – the First Rate research revealed a year on year growth of over 30 per cent2 across euro, dollar and sterling Travel MoneyCards.
The spending trends revealed by First Rate highlight the convenience and flexibility offered by Travel Money Cards.
Excluding cash withdrawals at overseas ATMs, which is the most frequent use for Travel Money Cards, using the card to pay for meals out tops the table for most popular purchases for both euro and dollar cards. These payments account for around 16 per cent of US dollar transactions and 21 per cent of euro purchases – it’s perhaps not surprising that purchases at fast food outlets feature particularly strongly in the US.
Gift and souvenir shops also appear in the top five, and it seems pet lovers travelling to the US may like to bring a souvenir home for their four legged friends too with Travel Money Card purchases being made in pet stores across the country. It appears that Travel Money Cards have also lent a helping hand to travellers suffering from ailments abroad, with pharmacies not only featuring highly – but trips to the chiropractor appearing in the First Rate spend list too.
Gordon Gourlay, Managing Director, First Rate said: “The convenience and security offered by Travel Money Cards are making them a firm favourite with UK travellers. The flexibility offered, from withdrawing cash from millions of ATM’s around the world to purchasing presents for friends and family, means we expect to see continued increase in demand for Travel Money Cards.”
The top ten transactions for Travel Money Cards, excluding cash withdrawals at overseas ATMs, are made in the following locations:
1. Restaurants
2. Grocery Stores
3. Fast Food Outlets
4. Gift and Souvenir Shops
5. Hotels and Motels
6. Speciality Retail Stores
7. Service Stations
8. Department Stores
9. Men and Women’s Clothing shops
10. Pharmacies
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
