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Ukash Travel Money card reveals the ‘cash-gap’ of the best and worst ways to buy euros as the countdown starts for School holidays

www.ukash.com

London, July 2014 – The latest research from the Ukash Travel Money Prepaid MasterCard® card reveals that families could lose as much as €51.70 for every £500 they spend on buying euros for their summer holidays. With just a couple of weeks to go until the majority of schools finish for the summer break, Ukash is urging families to think ahead and organise their foreign currency so that they can get the best spend for their pound.

Ukash researched the cost of spending £500 on euros at Gatwick airport on Sunday 6th July. At the Moneycorp bureaux de change this would get €569. But loading the same amount of sterling onto a Ukash Travel Money card on Friday 4th July would have given the traveller €620.70. Clearly it makes complete sense to plan ahead – but Ukash research* has revealed that not all holidaymakers take this approach to their travel money. And, even more worrying, many holidaymakers resort to carrying cash with them which presents a considerable safety risk.

According to the Ukash research, 36% of UK holidaymakers take between £501 and £1,000 in cash when they head abroad; 40% take the equivalent of between £100 and £500. So getting the best value for their pound is essential. But Ukash Chief Executive, David Hunter, also believes carrying this much cash around with them is a big risk.

“With so much written about extra charges when using debit or credit cards abroad, I completely understand why so many holidaymakers opt to carry cash”, said David Hunter. “But that simply isn’t very safe. Much better is to load cash onto a prepaid MasterCard card which can then be used just like a credit card in the thousands of outlets around the world that accept MasterCard. With the Ukash Travel Money card there are no charges for transactions and no charge for withdrawing cash from an ATM abroad.

The new Ukash Travel Money card offers the lowest foreign exchange 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.

The Ukash Travel Money card can be ordered online in minutes and will be delivered in five to seven 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.

“Leaving the arrangement of spending money to the last minute is the worst thing you can do if you want to get value for your pounds” added David Hunter. “And it means carrying cash around which can make you vulnerable to muggers and pickpockets. Yet 4% of British holidaymakers said they actually leave it until they get to the airport and 15% buy currency when they arrive at their destination. Either way it doesn’t make sense.

“The Ukash Travel Money card is the simple, convenient and safe way to make spending money go further, with the best exchange rates, no fees for usage and free ATM withdrawals.”

The Ukash Travel Money MasterCard: The Facts

• Lowest FX Rate on the market
• No transaction fees
• Free ATM withdrawals in Europe and the US
• Free balance enquiries online, at ATMs and SMS
• Available in Euro and US Dollar
• Free top up by debit card
• No application fee
• No annual fee
• Chip and PIN security
• Use as over 34 million outlets that show the MasterCard Acceptance Mark
• Minimum load value: £50
• Maximum single load: £2,000
• Features chip and PIN security
• Can be used at over 34 million outlets worldwide that accept MasterCard


*Populus poll conducted May 2014 – 2000 respondents

Ends

For further press information or interviews please contact the Ukash Press Office at HSL: Wendy Harrison, Clare Watson or Ed McCambridge. +44(0)208 977 9132. ukashteam@harrisonsadler.com


Notes to Editors
Ukash is regulated by the UK Financial Conduct Authority (FCA).

The Ukash Travel Money Prepaid MasterCard is issued by Prepaid Financial Services Limited pursuant to a license from MasterCard International Incorporated. Prepaid Financial Services Limited is regulated and authorised by the Financial Conduct Authority, registration number 900036. Registered Office: 36 Carnaby Street London, W1F 7DR.

About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews,join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

This press release was distributed by ResponseSource Press Release Wire on behalf of Harrison Sadler in the following categories: Personal Finance, Travel, for more information visit https://pressreleasewire.responsesource.com/about.