One-tenth of holidaymakers are unsure of the legal currency at their destination and carry the wrong currency especially when travelling on holiday to European countries, according to a survey by the International Currency Exchange (ICE).
ICE plc, a UK-based foreign exchange and prepaid currency card provider, has conducted a survey of 2,000 people who went on holiday in August. The agency is now urging holidaymakers and travellers to double-check the legal currency in use at their destinations and not to assume that any European country will accept euros, according to traveldailynews.com. Travellers to Euro destinations are also urged to use a fee free and secure prepaid currency card, such as the ICE Travellers Cashcard, to avoid confusion.
Tom Johnson, head of ICE Online Business said: ‘It’s easy to assume that if it’s Europe it must be euro.
‘It’s even easier to assume it’s euro if it’s an EU country. But currently only 17 of 28 EU members have adopted the European currency, creating some currency confusion for travellers. ‘
For example, while Poland is part of the EU, the currency currently in use in the country remains the Zloty, not euros. Similarly, despite being in the EU, Denmark and Sweden both use their own form of the Krone, while Finland use euros. Croatia, the latest country to join the EU, is currently advising travellers to take both euro and Kuna.
Johnson said: ‘Wherever holidaymakers are heading, it’s important to do some research on the local currency. The Eurozone may seem familiar territory, but it still has some surprises up its sleeve and holidaymakers can get caught out. Order the right currency before leaving the UK, preferably online to obtain the most competitive rates and to avoid additional charges incurred through ATMs when using debit and credit cards abroad.
‘Travellers to Euro destinations can also consider a fee-free, prepaid currency card such as the ICE Travellers Cashcard, as a more secure and convenient way to pay for goods and services than carrying cash.’
The ICE Travellers Cashcard is a fee-free, PIN-protected Mastercard prepaid currency card that claims to offer travellers a secure and convenient method of payment overseas. Provided with a free back up card if the first is lost or stolen, the card has no ATM charges, no penalty fees, no fees for topping up and offers 1 percent cashback on all point of sale purchases.