Will Scotland Result Change Your Holiday Spending?

In the last few days, the pound has weakened markedly against the Euro and the US Dollar, as the outcome of the Scottish referendum makes the headlines. 

 

 

New analysis by the Ukash Travel Money card reveals that loading £500 of US dollars would take $46.40 off a holiday spending budget, compared to loading funds on 2^nd July.

“The dilemma for Brits heading abroad right now is what to do about spending money, said Miranda McLean, Marketing Director, Ukash.  “Do they buy currency – and if so when?  Or do they just use their debit or credit card in the hope that the pound will strengthen.  However, then they will potentially face transaction and ATM withdrawal costs as well as be at the mercy of the exchange rate on the day of each transaction.

“Probably most holidaymakers end up with a combination. But by combining cash for ad hoc spending, with using credit and debit cards for the bigger bills, this could result in less spending money as a whole. 

“Of course, it’s impossible to predict what is going to happen to the pound over the next week – and beyond depending on the outcome of the Scottish referendum.  But holidaymakers can at least protect their spending money from transaction fees and currency exchange fluctuations.”