Financially Savvy Travellers Turn To Prepaid Cards

Date: July 10, 2009

Increasing numbers of travellers are choosing prepaid cards to help manage their holiday budgets this year, according to travel specialists The Co-operative Travel. The business reports that sales of its Co-operative Travel Cash Passport have risen by 400 per cent in just three months.

The multi-currency cards, sometimes referred to as plastic traveller’s cheques, are becoming increasingly popular with holidaymakers who want the convenience of a bank card without worrying about overspending, hidden charges or security. Research from Travelex, the leading global provider of travel money, shows that rising sales of prepaid cards have contributed to the demise of the traditional traveller’s cheque, with sales down 30 per cent year-on-year to date in 2009.

The Co-operative Travel Cash Passport fits conveniently into a pocket and helps to keep a rein on holiday spending. With the holiday season approaching, Travelex has identified the top five reasons not to leave home without The Co-operative Travel Cash Passport:

1. Know what things cost – the exchange rate is fixed at time of purchase and there aren’t any hidden charges meaning no nasty surprises on bank statements when you get home
2. Stick to budget – the cards are preloaded with a set amount of cash in a choice of currencies (although if you need extra funds the Cash Passport can be topped up by phone or online)
3. Free customer service – award winning 24 / 7 global emergency assistance
4. Protect from loss or theft* – the cards are PIN and signature protected so that no-one else can access your funds
5. Wide acceptance - use the card at more than 1.8 million ATMs, restaurants, shops and bars around the world.

Want to try it yourself? Go to your nearest branch of The Co-operative Travel or visit www.travelex.com/outsourcing.

*terms and conditions apply.

Ends

Travelex Outsourcing
Travelex is the world's foreign exchange and international payments specialist. Operating through subsidiaries and branches in five 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.

www.travelex.com | www.cashpassport.com

For more information, please contact the Travelex Outsourcing press office:

Rebecca Maund / Becky Lamont
0207 2556400 / 07989 230737
rmaund@golleyslater.co.uk/ rlamont@golleyslater.co.uk