10 July 2007 Travellers 'use credit cards abroad'
Despite the risk of credit card fraud, Britons prefer to use plastic cards rather than travellers cheques to pay for products and services abroad, it has been claimed.
Apacs, the UK payments association, reports that travellers feel they understand the costs incurred by credit card providers, while travellers cheque use can result in the levying of a range of fees.
Furthermore, some outlets can be reticent when it comes to accepting travellers cheques, meaning that much of a holiday can be spent queueing in foreign banks to exchange them for local currency.
A spokesperson from Apacs said: "With travellers cheques in lots of areas of Europe, the only way to get the funds is to queue up in a bank - and that may not be the way you want to spend your holiday."
She added that the introduction of chip and Pin in the UK has made Britons more aware of the risk of card fraud, while noting that providers will refund money if it is fraudulently spent.
Last November, Sainsbury's Bank forecast that £4.57 billion would be collectively changed into foreign currency by Britons over the Christmas period.
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