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New analysis reveals UK residents take more than 60 million trips abroad every year PDF Print E-mail
Wednesday, 17 June 2015

New analysis by Centtrip, which offers the first prepaid MasterCard with 14 currencies on a single card at ‘spread free’ exchange rates, reveals that UK citizens took over 60 million trips abroad in 2014, an increase of  8.1% (4.5 million trips) on 2010.

The research shows that Spain topped the table as the number one overseas destination for UK citizens, while Romania has seen the biggest percentage increase in visits.
 
Travel money business Centtrip reveals UK citizens made 12.2 million trips to Spain in 2014 and nearly nine million trips were made to France. The USA was third with more than three million visits.
 
Centtrip’s analysis also reveals that Romania saw a 113% increase in the number of UK citizens visiting it between 2010 and 2014. Finland was second with an increase of 87% while Lithuania, Russia and Morocco saw increases of 76%, 51% and 49% respectively.
 
The analysis reveals that UK overseas travellers spent more than £35 billion whilst abroad last year. However, Centtrip warns that the average FX spread when we use our credit, debit and prepaid currency cards abroad is 3.5%.

Centtrip’s prepaid MasterCard offers 14 currencies on a single card at ‘spread free’ exchange rates, meaning that customers receive the market rate, or the price Centtrip pays for the currency.
 
Brian Jamieson, Co-Founder and Managing Director, Centtrip said: “Our appetite for travelling abroad – whether on holiday or business – is growing and the strength of Sterling against many other currencies means our money is going further.  However, people need to pay more attention to the FX spreads and charges they pay when using their money abroad.”

Centtrip customers can use Sterling or Euros to load their account via their debit cards or by making a bank transfer.  Thereafter, they can convert across the 14 currencies free of any spread.

Customers can manage their accounts via a smartphone app or online through a multi-currency travel account.  The card allows customers to carry significantly higher balances compared to £5,000 or £6,000 for most prepaid currency cards.

Customers pay one fixed annual fee of £10 and 0.5% of the value of funds loaded to their account.  Thereafter they can buy foreign currency from Centtrip at authentic 0% rates from the live market, as much as they need and as often as they want.

In addition to spread free exchange rates, no charge for point-of-sale transactions in the UK or abroad and competitive international ATM fees, Centtrip’s card also offers the heritage and confidence of the MasterCard brand.  This means it’s accepted at over 34 million locations and 2.1 million ATMs worldwide.

(Source - Centtrip Press Release)
 

 
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