FairFX Press Releases > Feeling the pinch Related Posts
FairFX is offering members of the Ski Club of Great Britain the opportunity to apply for a free FairFX currency card) - normally costing £9.95 for a three year membership. This offer can be applied for online via www.skiclub.co.uk.
Stephen Heath, Chief Executive of FairFX.com, said: “Brits keen to hit the slopes despite the credit crunch should ensure their Euros take them further with FairFX.com and The Ski Club of Great Britain. The FairFX.com currency card provides good value, secure access to cash worldwide and could save people up to €10 per £100 spent, and in the current climate every penny counts.
“FairFX.com’s partnership with The Ski Club of Great Britain is the latest partnership with brands of the shared ideology of ensuring customers get the best bang for their buck, and follows collaborations with moneysupermarket.com and Matalan. FairFX.com has seen a rapid expansion since its launch in December 2007 and we plan to continue building the business with further strategic partnerships and significant investment within the company, amongst other drives.”
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 14 October 2008, 10:33am
• 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
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