Travelex reveals record numbers of travellers exchanging back leftover currency

Date: Aug 26, 2009

New figures released today by leading foreign exchange specialist, Travelex, reveal record numbers of travellers have adopted an ‘every penny counts’ attitude and are exchanging increasing volumes of unused foreign currency back into British Pounds.

As the recession continues, cash-conscious travellers are no longer stashing away their unused currency in anticipation of their next trip abroad. Instead, they are adopting an increasingly frugal attitude towards their finances, with Travelex reporting a 33% increase in customers opting to return leftover currency, across its most popular currencies, compared to this time last year.

As travellers to the Euro-zone continue to feel the pinch of the poor value of the Pound against the Euro, down 8% compared to August 2008, Travelex has seen a 40% increase in Euros being exchanged back into British Pounds, compared to twelve months ago.

Travelex predicts a surge in travellers exchanging back their leftover currency after the August Bank Holiday weekend, as Brits returning from late summer getaways will opt to spend any leftover cash on necessities back home, rather than saving foreign notes and coins for holidays next year.

Julian Neal, Director, Travelex comments, “Before the economic downturn, consumers were much more likely to keep hold of leftover foreign currency for their next trip away. However, as we see a fall in disposable income, consumers are clearly beginning to count every penny, and are converting even small amounts such as €20 back into British Pounds. More than ever this year, travellers are looking to lock in the value of their holiday money, to ensure that they don’t lose out on their return.

“Travelex’s Buy Back Plus product is perfect for budget-conscious travellers, because it allows you to exchange back your leftover currency, commission free, and at the original exchange rate you bought it, giving you peace of mind, even if currency rates have fluctuated. You can buy back within 31 days of your journey and it costs just £3.99.”

For the best price foreign currency or to track rates, visit www.travelex.co.uk

Ends

About Travelex:
Travelex is the world's largest foreign exchange specialist with over 700 retail branches in more than 20 countries, at key airport, seaport, rail and tourist locations. Over 40% of travellers - 1.7 billion passengers a year - pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Rome, Sydney & Tokyo. Every hour, Travelex provides foreign currency to more than 2,000 customers.

Travelex Online & the Travelex Price Promise:
Travelex.co.uk, guarantees the best price, commission-free foreign currency in the UK. Every day Travelex.co.uk monitors the exchange rates of the leading Banks, High Street foreign currency providers (Travel Agencies, The Post Office, M&S) and a basket of other online providers to ensure we offer customers the best deal. In the unlikely event that we are beaten on any of our 60+ currencies, we will refund the difference.

For more information, please contact:
Kat McGettigan – Talk PR
0207 544 3804
Kat.mcgettigan@talkpr.com

Hannah Shanks – Talk PR
0207 544 3616
Hannah.shanks@talkpr.com