Baggage allowances might be stretched to the limits as British travellers return home this summer, but their wallets won’t be quite so heavy. That’s according to new research from Travelex that indicates our love of splashing out when we go away means that more than a third of us are likely to overspend.

The survey reveals 34% of GB adults that travelled in the last 12 months admitted to overspending by up to £1,000 on their last holiday abroad. And while one in ten only broke the bank by up to £50, 18% said they blew their budget by £100 or more.

But Steve O’Donovan, Regional Divisional Director, Outsourcing at Travelex warns that holidaymakers who fail to plan their spending money risk uncompetitive exchange rates and multiple bank charges on forex ATM withdrawals, meaning their overspending could be higher than they think.

“Holidays are an easy time for people to get carried away and spend more than they intended. It’s only natural on holiday to adopt a more relaxed attitude to life in general and that can also apply to the finances. But by taking some simple steps before heading off, and preparing your wallet with foreign currency and a prepaid currency card, travellers might be pleasantly surprised by how much they save and better budget.”

To help holiday makers improve their money management, Travelex recommends replacing credit and debit cards with a prepaid currency card, such as its Cash Passport product.

Cash Passport, available through Going Places, Co-Op Travel and Travelex shops, acts as a secure holiday money ‘savings plan’. It’s a prepaid card that allows customers to load their spending money in advance so they can plan ahead what they want to spend. As the card is PIN protected but not linked to a bank account, travellers benefit from peace of mind that their spending money is safe.

For further travel money advice and competitive rates go to www.travelex.co.uk or visit one of its partners, including Barclay’s, HBOS and Thomson, for advice and competitive rates.

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For more information please contact Laura Zobel, Louise Ellis or Zoe Hatton at Lawton. 02380 838 500, laura.zobel@lawton.co.uk; louise.ellis@lawton.co.uk or zoe.hatton@lawton.co.uk

Notes to editors:

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,030 adults. Fieldwork was undertaken between 26th - 28th June 2007. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

About Travelex:

Travelex is the world's foreign exchange and international payment specialist. Operating through subsidiaries and branches in four regions: the United Kingdom; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific.

As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers it provides products including its prepaid travel card Cash Passport to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.

Travelex is also the world’s largest provider of outsourced travel money and related fulfilment services for banks, financial institutions and travel agencies. Through its world-leading automation Travelex is able to process over three million orders annually. Travelex offers customers a full range of delivery channel options including telephone and web-based ordering.

www.travelex.com | www.cashpassport.com