Demand for multicurrency cards and apps soars as Covid curbs are eased
Pent-up demand for international travel has seen a significant spike in demand for multi-currency cards and e-money apps.
We’ve reported a month-on-month rise of 72% in enquiries for our pioneering global e-money app and multi-currency card deVere Vault, ahead of the summer season.
Of course, we always see an uptick ahead of the peak holiday season.
However, following a year of coronavirus restrictions, the urge to go on holiday is bigger than ever, and the pent-up demand for overseas travel is evident.
And this is shown in the substantial rise in demand for multi-currency cards and global e-money apps, which allow users access to and management and use of their money wherever they are in the world with no stress, no excessive exchange rates or hidden fees.
Furthermore, high bank charges are another prime concern for holidaymakers.
When using your debit or credit card overseas not in your destination’s local currency, you could be faced with higher-than-expected exchange fees.
Typically, another 6% is added on top, but this can be as much as 10%, and the client is usually not aware of these additional costs.
Despite the necessity to be coronavirus cautious, the pent-up demand for international travel is set to come into effect in a huge way within the coming months.
Nevertheless, as the world prudently begins to reopen, the Covid crisis has focused minds on the importance of how rapidly things can change. As such, people are more aware than ever of the need for a financial buffer.
As a result, those travelling overseas will be mindful of excessive and preventable exchange rate and banking fees.