England fans given World Cup money warning - Money - News - Moneyfacts

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England fans given World Cup money warning

England fans given World Cup money warning

Category: Money

Updated: 14/06/2010
First Published: 14/06/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
With potentially seven million England fans set to travel to South Africa if their team reaches the latter stages of the tournament, travellers have been urged not to score a foreign money own goal.

Despite Fabio Capello's men stumbling to a 1-1 draw with the USA on Saturday evening, research suggests that millions of English men, women and children would make their way to the Rainbow Nation if the Three Lions progressed to the semi-final or the final itself.

Those thinking of travelling have been urged to find the best deal for their travel money, stopping money from falling through their fingers in the same way that Rob Green fumbled the Americans' equaliser into the net at the weekend.

Almost nine in ten (89%) people consider getting good value for money on their foreign currency to be vitally important, according to M&S Money.

Despite this, 66% believe that purchasing their money on the high street, they can expect to get the same rate whatever branch they visit across the country.

This is not the case, however, as many providers alter their rates geographically, so football fanatics may be gambling on getting the best value for money.

Fans have also been told to be wary of the limits placed on bringing cash into South Africa; those bringing in more than 5,000 Rand – approximately £450 – run the risk of having their money taken from them.

Fans have been told to consider other options, such as Sterling travellers' cheques.

Despite this, 15% of people said their budget for the World Cup trip would exceed £5,000, while a quarter were not even clear that South African Rand is the currency they would need.

"We know many supporters are planning to head to South Africa and if the team can make it through to the final rounds, we could see many more fans flock to the host nation," James Yerkess, M&S Travel Money manager, said.

"But every penny counts, even when it's concerning the beautiful game and all the excitement a trip of a lifetime like this would bring.

"Value for money is a topic travelling England supporters need to put serious thought towards, especially given a quarter of people aren't even clear that the South African Rand is the official currency they'd need for their trip."

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