Online travel provider Opodo.co.uk, has teamed up with FairFX.com to make customers’ holiday Pounds go further with market leading exchange rates using the FairFX.com Currency Card.

Opodo customers can now obtain a free FairFX.com Currency Card (normally costing £9.95) denominated in Euros or US Dollars by applying online at www.opodo.co.uk under Travel Extras (pre-paid currency cards).

Stephen Heath, Chief Executive of FairFX.com, said: “For too long, customers have been getting a very poor deal when buying their holiday cash from currency exchange booths at UK airports. Also, they will have found advertising about the commission charged on currency purchases very confusing. However, Opodo and FairFX.com have formed this new partnership to help travellers looking for great value online not only for their holidays but their travel money as well.

“Opodo’s customers are savvy and expect convenience and good value, making FairFX.com the perfect partner. Whether people are looking for some winter sun or heading for the slopes, they should all be trying to get the most for their money, especially with the rising cost of living and strength of the Euro.

“The FairFX.com currency card offers market leading exchange rates, secure access to cash worldwide and could save people up to €100 or $120 per £1,000 spent; and now people can get the card for free there is nothing to stop them getting the most from their holiday spending money.

“FairFX.com’s partnership with Opodo is the next step in partnering with brands with a shared ethos. We are both committed to giving our customers the most for their money, in a fair and transparent way particularly in tougher economic times.”

How does the FairFX card work? The FairFX Currency Card is a MasterCard chip and pin enabled prepaid debit card. It differs from regular debit cards in two ways. Firstly, the cards are issued in either Euros or US dollars and secondly, funds must be loaded onto the card before they are available to spend. The currency to be loaded is obtained simply by logging on to www.fairfx.com and can be paid for by any sterling debit or credit card or internet bank transfer.

Tuesday 04 November 2008, 11:36am

Tags: currency, currency card, currency card discussion, currency card reviews, currency exchange, travellers, travel money

• 57 per cent of Brits to cut holiday spending

• Vacation funding squeezed by the credit crunch and rising cost of living

Nearly three in five Brits (57 per cent) will be forced to cut their holiday spending this year according to research* from pre-paid currency card provider FairFX.com.

Most people (57 per cent) confessed they will have to slash how much they pay out overall on their time away, or at the very least reduce their expenditure while abroad over the year ahead.

Nearly one in 10 admitted the credit crunch and fear of recession had spooked them enough to cut how much they will spend on holiday. Also, despite decreases in the Bank of England base rate, consumers are still feeling the pinch. More than half (55 per cent) plan to curb foreign expenditure because the cost of living is too much for them and outgoings have increased drastically.

Stephen Heath, Chief Executive of FairFX.com, said: “Brits have been forced to slash their holiday spending as the credit crunch and the hefty rise in the cost of living hits them hard in the pocket. Unless conditions change holidaymakers are planning to spend just £460 each on what should be the main break of the year.

“Consumers who want to get the biggest bang for their buck when they go away should think about using a pre-paid currency card. For example, they would be able to get seven to 11 per cent more for their Pound using a FairFX.com card compared to waiting and buying their foreign cash from the airport.**

“The survey also showed one in seven (14 per cent) are planning to cut back as a result of the poor exchange rate and weak pound making travel more expensive. However, using a pre-paid currency card allows travellers to buy currency when rates are favourable and store them for later use. Savvy travellers should consider the benefits of using a currency card to ride out the volatility in the market and lock in great exchange rate deals.”

Further findings from the research revealed: • 19 per cent of people plan to spend more than £700 when they go on holiday this year

• 30 per cent of Brits don’t plan to cut back their holiday spending at all

• Four per cent actually plan to increase their holiday spending

• 20 per cent of those aged 55 years old and over said the poor exchange rate and weak pound was the main reason they were planning to cut back on their holiday spending vs nine per cent of those aged between 18 and 34 years old.

All research unless otherwise stated carried out by Opinium Research LLP. Opinium Research carried out an online poll of 2,000 British adults between 18th and 22nd of April 2008. Results have been weighted to nationally representative criteria. www.opinium.co.uk

Friday 02 May 2008, 08:27am

Tags: credit crunch, currency card, feeling the pinch, opodo, recession, spending cuts