More than one fifth (23%) of Brits still take over £450 cash on holiday with them
- The average Brit carries over £320 in cash when they head abroad*
- Just one in 10 Brits now travel cash-free as travel experts warn holidaymakers to check their policy limits
Despite a huge rise in the use of cashless payments over the last five years, new research reveals that more than one-fifth (23%) of Brits take over £450 cash abroad with them.*
The survey, undertaken by Go.Compare Travel insurance, also revealed that the average Brit takes £323.85 in local currency with them abroad, while just one in ten (10%) admitted they don’t take cash with them.
When it comes to age groups, it’s travellers aged 55 and over who carry the most cash on their getaway, with an average of £382.52. There is also a noticeable gender gap, with men taking around £45 more (£345.65), while women take an average of £300.97.
Carrying some cash with you abroad can ensure that you are able to pay everywhere, especially in destinations where card payments aren’t widely accepted.
But it can be risky, as the survey also revealed the top reasons people make a claim on their travel insurance policies, and found that over a fifth (21%) made a claim for theft or loss of personal belongings.**
Analysis of travel insurance policies by Go.Compare also reveals that 20 annual trip policies don’t provide any cover for cash abroad, and 72 provide cover for less than £200.***
|
Money, cash, maximum sum insured |
Annual trip travel insurance*** |
Single trip travel insurance |
|
No cover for cash |
20 |
28 |
|
Less than £200 |
72 |
73 |
|
Between £200 and £299 |
307 |
317 |
|
Between £300 and £399 |
212 |
213 |
|
£400+ |
319 |
298 |
Rhys Jones, spokesperson for Go.Compare travel insurance said: “Ensuring you have the right currency for your holiday is something many travellers still do before jetting off. While one in 10 are opting to go cash-free for their holidays, taking some currency with you remains a good backup in case a vendor doesn’t accept cash or there is a payment outage.
“But it’s important to check how much cash your travel insurance policy covers before heading abroad. Every policy has different limits, meaning if the unfortunate does happen and your cash is lost or stolen, you can only claim up to a certain amount.
“Also, make sure to check the excess specified on your policy, as this will directly affect how much you can actually claim. For example, if your policy covers £300 for cash but has an excess of £100, you’ll only be able to claim up to £200 if you lose that amount or more.
“Most insurers will also only accept a claim if certain conditions are met, such as the money needing to have been on your person or kept in a safe or safety deposit box when stolen.”
To learn more about what travel insurance policies do and don’t cover: https://www.gocompare.com/travel-insurance/
/ENDS/
Contact Information
Rubie Barker
Notes to editors
*The research was conducted by Censuswide, among a sample of 2000 UK Nationally Representative Consumers, aged 18+. 1,208 respondents said they had been abroad in the last 12 months. The data was collected between 18.03.2025 - 21.03.2025. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.
**210 respondents said they had made a claim on their travel insurance policy taken out for a holiday/trip in the last 12 months.
*** Source: Defaqto Matrix of analysis of 929 single trip travel insurance policies and 930 annual travel insurance policies – instant and unbiased market and competitor intelligence, from independent financial researcher Defaqto (24th April 2025). Percentages are rounded up to the nearest whole number.
For further information please contact:
Lynsey Walden on lynsey.walden@gocompare.com, or Kath Chadwick on Kathryn.chadwick@gocompare.com.
About Go.Compare
Go.Compare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.
It does not charge people to use its services and does not accept advertising or sponsored listings, so all product comparisons are unbiased. Go.Compare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.
When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. It is this approach to comparing products that secured the company an invitation to join the British Insurance Brokers’ Association (BIBA) in 2008, and it is still the only comparison site to be a member of this organisation.
Go.Compare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest and works with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.
Go.Compare is part of Future Plc and is authorised and regulated by the Financial Conduct Authority (FCA).
More information can be found here www.gocompare.com or here https://www.futureplc.com/brands/