Fewer Australians are choosing cash when travelling abroad, increasingly preferring the convenience and security of credit and debit cards. Travellers cheques are becoming extinct, with only 2% of those surveyed by technology provider HP claiming to use them whilst overseas.
The Australian Payments: Consumer Trends and Behaviour report shows that preferred payment methods differ by age group. Younger travellers opt for debit cards over any other method of payment. This is due to fewer people in the 18-24 age bracket owning a credit card as well as the preferred travel destinations of this age group.
Paying by debit card enables travellers to avoid credit card debt and benefit from the security of not carrying cash. Multiple currencies can now be preloaded onto debit cards, making it a convenient and cost-effective choice for travellers. Preloaded currency removes the need for expensive conversions at a traveller’s destination, although there are still fees associated with card use, so travellers should find out the facts before heading overseas.
Source: http://mozo.com.au/travel-money/articles/travel-cards-prove-popular-amongst-travellers/1868717204
