Its bad news for credit card companies in the UK, as more and more Britons prefer to shop abroad using cash. According to a survey conducted by Santander Bank, almost 52% of all Brits who went overseas for holidays in 2009, purchased goods and services using cash.
It was further revealed that only 20 percent of people used their credit cards, while only 15 percent used their debit cards while on holiday. Additionally, only 5 percent of holidaymakers preferred to use traveller’s cheques for making purchases. According to the Santander UK survey, it was also found that Britons spends an average of £207 per person almost every week while holidaying abroad.
The director of retails products for the bank, Vim Maru said, "Some may find this research surprising - with so many Britons relying on cash when they are abroad and the once ubiquitous traveller's cheque are only as popular as the foreign currency account."
The bank recently let on that Santander UK customers along with those having accounts with Abbey and Bradford & Bingley shall has access to 4,300 ATMs of the bank in Spain, free of any fee this year.
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ATM machines in Spain free for Abbey customers
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