Over half of all consumers would pay for a cup of coffee and a cake with cash according to research from Consumer Intelligence released for European Money Week.
Consumers are missing out on important protections and legal rights by choosing not to pay with a credit card when travelling or buying online.
Brits travelling abroad are being warned about double hidden charges when using overseas cash machines in European Money Week.
Consumers are being warned to be wary when they pay for hotels, food and drink overseas.
Consumer Intelligence research highlights that holiday makers still don’t buy the prepaid card and here are some simple reasons why:
Travel magazines have been read, travel agents visited and travel websites browsed – the process of research and booking the annual summer holiday is in full swing. And once the trip itself is booked attention turns to other aspects of the holiday such as travel insurance and travel money. In fact, our infographic shows that 75% of travel money transactions happen between April and September.
If 2016 has been an interesting year in our sector, 2017 is set to be no different.
The Royal Mail is stressing that strikes in Post Offices this week will have little or no impact on deliveries and that the last posting dates for Christmas remain unchanged.
However the overseas money transfer market is one sector that is definitely delivering over the festive period for people sending Christmas presents of cash to friends and relatives.
75% of travel money transactions are conducted between April and September. Over 80% of consumers buy their currency in advance but 43% of consumers will buy it in the last few weeks before they travel. And when they do buy, 54% of consumers accept the first deal they are offered.
The response by international payments businesses to news that the UK had voted to leave the EU highlighted how fast some are to respond to changes - and how much others lag behind.