Holidaymakers taking more cash away on their trips, says Tesco Bank
Average transaction values are £56 higher than before the coronavirus pandemic, the bank said.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Holidaymakers are taking more cash away with them than they did before the coronavirus pandemic, according to a bank.
Average transaction values have risen by £56, from £288 pre-pandemic to £344, according to Tesco Bank’s internal data.
The bank also said it has seen a significant increase in people ordering travel money online for either home delivery or click and collect, rather than exchanging money in person at a store.
With prices rising across many popular holiday destinations, people may prefer the certainty of seeing how much they have left
There have also been some changes in buying trends, Tesco Bank said, adding the euro is becoming increasingly popular as travellers opt for destinations closer to home.
Turkey is also popular with summer holidaymakers, with the lira being among the most in-demand currencies so far this summer, Tesco Bank said.
Ban Mahsoub, head of money services at Tesco Bank said: “It can be easier to budget when you have cash in front of you, and with prices rising across many popular holiday destinations, people may prefer the certainty of seeing how much they have left.”