Travel Money - Cash Vs Plastic Vs Travellers Cheques
The UK market for Traveller's cheques has been in steady decline for a
few years, despite the overall increase in travel (source Mintel
Market Research - Holiday money UK). This has been caused by a number
of factors, not least being the increased issuance of credit cards and
debit cards, and the extent to which they are accepted abroad. Support
for the use of cards and the undermining to Travellers Cheques has
been further eroded by the massive growth in the worldwide ATM
network. This is coupled with the perception (and fact) that TCs can
be a pain to cash. Especially at weekends or if you run foul of local
bank holidays (quite likely in Spain where there are local bank
holidays!)I can cite my own example of this. Trying to pay by credit
card in an Ibiza restaurant in 1988 was an offline transaction that
had to be supported by a passport and they were most reluctant despite
displaying the Visa symbol. Fast forward 20 years and you have no
problems using cards in res...