Latest news with #BeCleverWithYourCash
Metro
a day ago
- Metro
Avoid making this 'costly mistake' while on holiday abroad this summer
With so many transactions going contactless or through mobile pay services, more and more people are going on holiday abroad without any cash. However this could be a mistake that ends up causing a headache and costing holidaymakers money, a travel expert has said. In a survey by Be Clever With Your Cash, 39% of respondents said they had been caught out without cash. While prepaid cards and contactless payment methods cover many payments, some circumstances still require coins and notes, such as tipping in taxis or shopping at small retailers which may not accept foreign cards or mobile transactions. Those who venture beyond large cities and into more rural areas can also run into trouble, as these areas are less likely to be equipped to accept digital payments. But it's not just the trouble of being unable to pay for a meal or tip a waiter. Leaving the cash at home can actually rack up a sizable bill. This is because ATMs abroad routinely charge fees for transactions involving overseas bank accounts and cards. And for those looking to change money into the local currency, change bureaus can also leave you out of pocket. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Holidaymakers who need to exchange money are advised to plan ahead, with airport exchange desks often offering worse rates than their high street counterparts. Even where card payments are accepted, it's a good idea to check your card's policies on overseas payments and currency conversion before setting off. Travellers should also check their insurance, with many policies offering cover for stolen or lost cash while abroad. More Trending A total of 91% of annual and 86% of single trip policies included cash cover as standard, research by Defaqto found. Money expert Amelia Murray from Be Clever With Your Cash said that many holidaymakers have a 'blind spot' on cash. 'Many people assume that having a fee-free card is enough, but that can be a false economy if you end up using an ATM abroad that charges or get stung by poor exchange rates', she said. View More » 'It's not about carrying wads of cash, it's about being prepared for those moments when a card simply won't cut it.' Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Ryanair calls for 'urgent' reform as French air strikes stretch to four days MORE: I'll never go on another slum tour after speaking to a local MORE: Using AI to help plan your finances? Here's what ChatGPT gets wrong Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
The Independent
a day ago
- The Independent
Money experts warn of ‘costly mistake' holidaymakers fall victim to
Holidaymakers risk unexpected expenses by relying solely on card payments abroad, with new research revealing that more than a third have found themselves caught out needing physical cash. Specifically, 39 per cent of those surveyed by the website Be Clever With Your Cash reported encountering unexpected situations where physical money was essential during their travels. The research highlighted that the most frequent instances requiring cash involved tipping, paying for taxi journeys, and shopping at smaller, independent retailers. Prepaid and specialist travel cards can make it easier to rely less on physical cash while travelling overseas. But those suddenly needing that cash could end up paying extra costs, the survey carried out by Opinium, among 2,000 people across the UK who have travelled abroad, indicates. The research found some people who had to make an emergency cash machine withdrawal on their last trip overseas were charged an ATM fee. Some people also said they turned to airport exchange desks for last-minute cash, even though they may potentially be getting a worse deal than if they had shopped around for their travel money and planned ahead. The website said that stepping outside major cities can also present challenges, as rural and remote areas in some countries could be less likely to accept cards. Amelia Murray, a money expert at Be Clever With Your Cash, said: 'There's still a blind spot when it comes to cash. Many people assume that having a fee-free card is enough, but that can be a false economy if you end up using an ATM abroad that charges or get stung by poor exchange rates. 'It's not about carrying wads of cash, it's about being prepared for those moments when a card simply won't cut it.' Ms Murray suggested packing a 'cash cushion' – a small amount of local currency that could be useful for tipping, local travel, or if holidaymakers end up somewhere that does not accept cards. She also suggested that holidaymakers make sure they understand their card's policy on fees and currency conversion before they travel. People may also want to check how much they would be covered for by their travel insurer if their cash is lost or stolen while they are abroad. Research released by financial information business Defaqto in May indicated that 91 per cent of annual and 86 per cent of single trip policies included cash cover as standard. Just over a third (35 per cent) of single trip travel insurance policies covered as much as £200 to £299, while a quarter (24 per cent) covered between £300 to £399, according to Defaqto 's analysis.
Rhyl Journal
2 days ago
- Business
- Rhyl Journal
‘Costly mistake' that some holidaymakers are making when travelling abroad
Some 39% of holidaymakers have found themselves in unexpected situations where cash was required while they were abroad, according to a survey commissioned by website Be Clever With Your Cash. The most common expenses included tipping, taxi fares and shopping at local or independent retailers, according to the research. Prepaid and specialist travel cards can make it easier to rely less on physical cash while travelling overseas. But those suddenly needing that cash could end up paying extra costs, the survey carried out by Opinium, among 2,000 people across the UK who have travelled abroad, indicates. The research found some people who had to make an emergency cash machine withdrawal on their last trip overseas were charged an ATM fee. Some people also said they turned to airport exchange desks for last-minute cash, even though they may potentially be getting a worse deal than if they had shopped around for their travel money and planned ahead. The website said that stepping outside major cities can also present challenges, as rural and remote areas in some countries could be less likely to accept cards. Amelia Murray, a money expert at Be Clever With Your Cash, said: 'There's still a blind spot when it comes to cash. Many people assume that having a fee-free card is enough, but that can be a false economy if you end up using an ATM abroad that charges or get stung by poor exchange rates. 'It's not about carrying wads of cash, it's about being prepared for those moments when a card simply won't cut it.' Ms Murray suggested packing a 'cash cushion' – a small amount of local currency that could be useful for tipping, local travel, or if holidaymakers end up somewhere that does not accept cards. She also suggested that holidaymakers make sure they understand their card's policy on fees and currency conversion before they travel. People may also want to check how much they would be covered for by their travel insurer if their cash is lost or stolen while they are abroad. Research released by financial information business Defaqto in May indicated that 91% of annual and 86% of single trip policies included cash cover as standard. Just over a third (35%) of single trip travel insurance policies covered as much as £200 to £299, while a quarter (24%) covered between £300 to £399, according to Defaqto's analysis.
Glasgow Times
2 days ago
- Glasgow Times
‘Costly mistake' that some holidaymakers are making when travelling abroad
Some 39% of holidaymakers have found themselves in unexpected situations where cash was required while they were abroad, according to a survey commissioned by website Be Clever With Your Cash. The most common expenses included tipping, taxi fares and shopping at local or independent retailers, according to the research. Prepaid and specialist travel cards can make it easier to rely less on physical cash while travelling overseas. But those suddenly needing that cash could end up paying extra costs, the survey carried out by Opinium, among 2,000 people across the UK who have travelled abroad, indicates. The research found some people who had to make an emergency cash machine withdrawal on their last trip overseas were charged an ATM fee. Some people also said they turned to airport exchange desks for last-minute cash, even though they may potentially be getting a worse deal than if they had shopped around for their travel money and planned ahead. The website said that stepping outside major cities can also present challenges, as rural and remote areas in some countries could be less likely to accept cards. Amelia Murray, a money expert at Be Clever With Your Cash, said: 'There's still a blind spot when it comes to cash. Many people assume that having a fee-free card is enough, but that can be a false economy if you end up using an ATM abroad that charges or get stung by poor exchange rates. 'It's not about carrying wads of cash, it's about being prepared for those moments when a card simply won't cut it.' It was suggested packing a small amount of local currency that could be used for purposes such as tipping (Alamy/PA) Ms Murray suggested packing a 'cash cushion' – a small amount of local currency that could be useful for tipping, local travel, or if holidaymakers end up somewhere that does not accept cards. She also suggested that holidaymakers make sure they understand their card's policy on fees and currency conversion before they travel. People may also want to check how much they would be covered for by their travel insurer if their cash is lost or stolen while they are abroad. Research released by financial information business Defaqto in May indicated that 91% of annual and 86% of single trip policies included cash cover as standard. Just over a third (35%) of single trip travel insurance policies covered as much as £200 to £299, while a quarter (24%) covered between £300 to £399, according to Defaqto's analysis.
Leader Live
2 days ago
- Business
- Leader Live
‘Costly mistake' that some holidaymakers are making when travelling abroad
Some 39% of holidaymakers have found themselves in unexpected situations where cash was required while they were abroad, according to a survey commissioned by website Be Clever With Your Cash. The most common expenses included tipping, taxi fares and shopping at local or independent retailers, according to the research. Prepaid and specialist travel cards can make it easier to rely less on physical cash while travelling overseas. But those suddenly needing that cash could end up paying extra costs, the survey carried out by Opinium, among 2,000 people across the UK who have travelled abroad, indicates. The research found some people who had to make an emergency cash machine withdrawal on their last trip overseas were charged an ATM fee. Some people also said they turned to airport exchange desks for last-minute cash, even though they may potentially be getting a worse deal than if they had shopped around for their travel money and planned ahead. The website said that stepping outside major cities can also present challenges, as rural and remote areas in some countries could be less likely to accept cards. Amelia Murray, a money expert at Be Clever With Your Cash, said: 'There's still a blind spot when it comes to cash. Many people assume that having a fee-free card is enough, but that can be a false economy if you end up using an ATM abroad that charges or get stung by poor exchange rates. 'It's not about carrying wads of cash, it's about being prepared for those moments when a card simply won't cut it.' Ms Murray suggested packing a 'cash cushion' – a small amount of local currency that could be useful for tipping, local travel, or if holidaymakers end up somewhere that does not accept cards. She also suggested that holidaymakers make sure they understand their card's policy on fees and currency conversion before they travel. People may also want to check how much they would be covered for by their travel insurer if their cash is lost or stolen while they are abroad. Research released by financial information business Defaqto in May indicated that 91% of annual and 86% of single trip policies included cash cover as standard. Just over a third (35%) of single trip travel insurance policies covered as much as £200 to £299, while a quarter (24%) covered between £300 to £399, according to Defaqto's analysis.
