Backpackers who may have taken out
worldwide travel insurance have been told they should consider taking money out of cash machines when abroad.
Despite the view that taking cash out in a foreign country can be an expensive way to fund a trip, World First has suggested that prices are becoming more affordable and as such it is now worth looking into.
"It is worth considering putting off getting your holiday money until the very last minute and drawing cash from an ATM whilst abroad," said Elisabeth Dobson, head of private clients at World First.
She added that previously, using an ATM abroad was "so expensive", but it is now much easier and far less expensive to use current account credit cards than in the past.
People who have taken out
online travel insurance could benefit from using cash machines because they would not have to carry large amounts of money with them when travelling overseas.
Statistics from the European Central Bank have shown that the pound has increased its value by 7.38 per cent since June 24th 2008 against the euro.
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Researchers: World First: It is worth getting holiday money from an ATM abroad
