“People should use credit cards abroad!” says credit card company

British holidaymakers have £663MILLION in leftover foreign currency after holidays abroad… with few converting it back

Forget to exchange your foreign currency after you return home from a trip? You’re definitely not the only one.

British holidaymakers sit on an astonishing £663 million of leftover foreign notes after holidays abroad, according to new research.

In fact, the average traveller has £55.25 in foreign notes and coins after just one overseas jaunt.

Source: Daily Mail, 25th August 2015

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We’ve all been there – returning home from holiday with a pocket full of miscellaneous coins that we’ll never use again. But if only there was some company had paid for some PR to get an article into the paper to tell us about a better way?!

Kevin Jenkins, of finance giant Visa Europe, which quizzed 2,000 people on their holiday spending, said: ‘Holidaymakers could be saving money instead of returning home with foreign currency, which likely remains unused and gathering dust. This hard-earned money could be better put to use or donated to charity.

‘For some, a frenzied ‘squanderlust’ means unnecessary airport spending.’

First of all, ‘squanderlust’ does not mean anything, to anyone, and nor will it ever. But secondly, does Visa have any tips on how to avoid this currency wastage?

Visa Europe says travellers should look up local prices in their holiday destination to gauge how much foreign currency to take with them.

It says people should take less foreign currency with them and use plastic or withdraw local money from cash points when they need it.

Visa thinks we should use credit and debit cards rather than cash. There’s a turn-up for the books.