Sunday, 10 July 2011

Let ICE Stop you getting burnt this summer with some hot money tips

2011 could be the most expensive year to take a holiday, as fuel increases push airlines and travel agents to pass rising costs onto travellers. The weakness of the Pound against the Euro and other key holiday currencies is not helping as British tourists who are having to spend more to achieve the same buying power. In response, travel money expert ICE (International Currency Exchange – has produced its top tips for getting the most out of the holiday spending budget:

ICE’s Top 10 Tips to make holiday money go further
  1. Buy foreign currency in advance of leaving the UK, online or from specialist providers on the high street, to avoid less competitive rates at airports
  2. Buying budget airline tickets? Don’t get stung by debit or credit card charges – consider using a Sterling prepaid card to buy your tickets – but shop around as some providers charge as much as the airline in internet and shop transaction fees
  3. Use a PIN protected prepaid card overseas too to avoid hefty debit and credit card charges – some charge as much as 1.4% of the transaction
  4. Check the financial security of your provider – are they linked to a bank for example that is FSA regulated?
  5. Having your currency delivered to home? Look out for free postage charge deals for minimum orders; every penny counts!
  6. Take a mixture of local currency and prepaid card on holiday – enough local currency for when you first arrive and a prepaid card for added security
  7. When in Rome: Do some research on tipping etiquette in your holiday destination to avoid embarrassment and possibly save you money
  8. Consider paying the sundries bill at the end of the stay with cash - 82% of travellers used their credit card to pay for their hotel bill in 2010
  9. Remember, some countries restrict the amount of cash that can be taken in and out. Don’t get caught out, check before you travel
  10. UK banks won’t buy back some currencies. Check before you travel and spend your local currency before returning home
Joanna Williams, Head of Marketing for ICE said “With household budgets being stretched and the cost of holidays going up, Brits will be looking to make savings where they can and stick to a budget. Using a prepaid card at home and abroad can help. Some, like the ICE Travellers Cashcard offer good savings on budget flight transaction charges and offers families a convenient and secure alternative to cash and travellers cheques. Most importantly, the card helps holidaymakers avoid charges incurred when using a credit or debit card abroad, whether it’s paying for small items such as food, drink and souvenirs or for the bill at then of the stay.

“There are many additional charges on travel money that can soon mount up so we advise holidaymakers to shop around for their foreign currency to ensure they get the best exchange rates from a reputable provider.”

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