City workers lose out when it comes to FX rates
Over 80% of city workers are missing out on some of the best buy FX rates because they stick to getting local currency in cash when they go on holiday, according to research from the Ukash Travel Money Prepaid MasterCard. The latest research, which looked into the spending behaviour of London’s city workers when they head abroad, found that despite working in the heart of the financial sector, the majority of those surveyed were unaware of the options that would get them the best value for their money.
Over 40% of city workers said they did not know what a prepaid card was and only a small minority (8%) had used a prepaid card when travelling abroad in the past. David Hunter, Ukash CEO, believes this new research suggests that the UK’s most financially clued up workers get the best deals in their working life, but lose out when it comes to their personal finances.
“The final days of work before jetting off are always very stressful, so it is no wonder that city workers may not have time to search around for the best deals on their holiday money. It is very easy to pop into your local bureau de change on the way home or at the airport. But you will rarely find the best rate this way.
“Our research shows that a staggering 81% of city workers take cash on their holiday, which not only means they probably do not get the best rate, but also leaves them vulnerable to theft. It seems ironic that these people will spend their working lives cutting the best financial deals in the FX capital, but not benefit from the best buy FX rates when they go on holiday. It is important that they do their research before they head off on their well-deserved breaks.”
The new Ukash Travel Money card offers the best buy FX rate on the market. There are no charges for sign up, transactions or ATM withdrawals abroad, which means that it definitively offers the best way to make holiday money go further in Europe and the USA.
It can be ordered online in minutes and will be delivered in up to ten working days without the need for any credit checks. The card can be topped up online instantly using a debit card – even while travelling - and cardholders can check their balance and transactions and top up their card at any time online completely free of charge. Plus any money left on the card can be used for the next trip rather than worrying about often costly conversion back to sterling.
“The Ukash Travel Money card is the simplest and most convenient way for city workers to make their holiday spending money go further,” concludes David Hunter. “With the best buy FX rates, no fees for usage and free ATM withdrawals, it makes sense for people to take a bit of time out of their day to sign up.”
For more information, visit ukash.com.