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Cashless on the Continent

A quarter of holidaymakers have been left stranded abroad without money

Research conducted by my Travel Cash has shown that almost one in four Brits (23%) has been marooned abroad without access to cash. The top causes of being caught cashless abroad are:

  • 30% overspent and under-budgeted
  • 30% were a victim of a crime
  • 10% managed to misplaced theirtravel money

Interestingly 60% of those left without money while away were younger travellers, aged under 25, suggesting this group in particular are vulnerable maybe due to inexperience in managing money or as they tend to be greater risk takers than older travellers.

Recognising that travellers can need help at any time, after all if you lose your money it is unlikely to happen during UK office hours, my Travel Cash, the prepaid MasterCard® currency card provider, now has a 24/7 Customer Services team. So travellers can call up at any time whatever time zone they are in no matter whether it’s an emergency or they just want to check the balance left on their card.

Myles Stephenson, CEO of my Travel Cash has commented: “Keeping currency safe and secure while abroad is essential for enjoying and getting the most out of your holiday. No one wants to lose precious time on hold to his or her bank or to be calling on family members back in the UK for help. It is even worse when these incidents occur at nighttime or weekends, only to be met with a frustrating automated message advising the panicked holidaymaker to call back during working week opening times.

“To safeguard against this holiday nightmare, we have introduced a dedicated 24/7 Customer Service line, allowing customers to get in touch whenever is convenient for them. Our customers can rest assured that no matter where they are in the world or what time zone they’re in, one of our Customer Service team will be on the other end of the phone to assist them.

“In addition to ensuring our Customer Services team are always on hand to help customers, as my Travel Cash Cards aren’t linked to a bank account, if lost security isn’t compromised, and funds can simply be frozen or transferred to a second additional card. We encourage our customers to opt for a second additional card, meaning there is always a backup should the worst case scenario occur, making it well worth the extra cost of just £3.”

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*Research was conducted by my Travel Cash and Monarch Airlines November 2012