HOLIDAYMAKERS’ CURRENCY BUYING HABITS CHANGED AFTER LOCKDOWN

HOLIDAYMAKERS travelling from the UK are typically taking more money with them than they did before the coronavirus lockdown started, analysis from Post Office Travel Money suggests.

They are also more likely to have currencies delivered to their home after buying online, and to make contactless purchases using their Travel Money card, as the coronavirus pandemic has changed people’s habits.

Post Office said the average currency transaction is for £423 – 42% higher than an average of £297 before the lockdown started – perhaps so that they will have some extra cash ready in case of any knock-on impacts from the coronavirus pandemic.

It has also seen shifts in currency purchasing patterns, with the volume of currency purchased online for home delivery having more than doubled.

Recent months have also seen an increase in the percentage of contactless transactions made by people using the Post Office Travel Money card.

These have risen from an average of 50% before the lockdown to around 64% now.

A FIFTH WON’T BE ABLE TO GET FINANCES BACK ON TRACK IN 2020 ONE in five people believe they will be unable to recover financially this year from the impact of Covid-19, a survey has found.

Some 20% of people think they will not be able to get their finances back on track in 2020.

Nearly two-fifths (39%) agree they feel “terrified” at the financial impact that another potential major lockdown would have, rising to 46% of people who have been furloughed.

The research also found that 17% of people have used up all of their emergency savings and more than a fifth (21%) are relying on credit to get by.

The survey was carried out between July 7 and 10 for Open Up 2020, an initiative run by Nesta Challenges, which aims to boost awareness of financial products made possible by “open banking” technology.