Caxton FX reveals who uses prepaid cards

Caxton FX reveals who uses prepaid cards

Caxton FX has revealed that the cost of overseas ATM and transactional charges is driving surgery travellers, pilots and gap-year students to use prepaid cards. According to the foreign exchange company’s data, the most frequent users of these cards are gap year students, honeymooners, retirees, cruise ship enthusiasts, pilots and flight attendants, as well as people with a second home in Europe. Travellers were also taking the cards further afield to Thailand, South America, Australia, New Zealand, Turkey and Egypt. “Anecdotally, because of the low rate on the Euro, people are travelling further,” spokesperson Karolina Adamkiewicz told Travel Daily. Caxton FX Managing Director James Hickman added that more people were beginning to switch to other forms of spending while on holiday. “The demise of travellers cheques has created a new market for those who do not want the security problems associated with taking and carrying cash abroad,” he said. “Prepaid cards provide the answer, are widely accepted and you have the convenience of being able to withdraw money from ATM machines worldwide.”

Gary Marshall
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Gary Marshall
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