Category Archives: Visa

“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.

 

“People make lots of small cash payments!” says touchless payment card

Workers spend more than £2,500 a year on lunch and snacks, report says

The amount that people who travel to work spend on small purchases such as coffee, breakfast, lunch and snacks adds up to an average of £10.59 a day

Workers fork out more than £2,500 a year typically for small purchases such as coffees, breakfast, lunch and snacks, according to a report.

Source: Telegraph, 23rd June 2014

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£2,500 a year on work snacks: Average commuter spends more than £10 a day on lunch, takeaway coffees and other food

Workers spend more than £2,500 a year typically for small purchases such as coffees, breakfast, lunch and snacks, research has found.

On average, the amount commuters spend on these small and regular purchases adds up to £10.59 a day.

Over the course of a year, taking weekends and holidays out of the equation, the total comes to £2,541, according to the study by Visa.

Source: Daily Mail, 23rd June 2014

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It’s little surprise to see people spending money on their lunch each day, although the amount does seem a little high for work snacks. How precisely does that figure break down?

The survey of more than 2,100 British commuters found they typically spend £3.69 buying lunch, £2.09 on hot drinks and £7.09 if they pop to the supermarket during a break to stock up on food and drink for the evening.

Remarkably, the “£2500 per year on work snacks” includes buying food and drink in the supermarket for when you get home after work. In fact, percentage-wise, the majority of that £2500 of snacks for the working day is food not actually intended for the working day at all – it’s right there in the article!

Also right there in the article is the identity of the company who paid for this ‘research’ to make the papers:

The research for Visa Contactless found that on average, the amount that people who travel to work spend on these small and regular purchases adds up to £10.59 a day.

Visa, of course, have a clear incentive to make us aware of how often we make small payments like this:

The rise in contactless technology, which allows people to make small payments by swiping a reader with their card, means more than 300,000 terminals across the UK now accept such payments.