Thursday 5th April 2007
Lloyds TSB argues that its travel money card may be a safer alternative to traditional plastic in credit card comparisons.
With the card prepaid, rather than operating on credit, the financial services provider suggests it may be suitable for those on a fixed budget.
Meanwhile, as the card has no overdraft facility, Lloyds TSB claims that it is impossible to overspend.
The news follows research from the bank which found that 16 per cent of Britons would use a bum bag as a means of protecting their cash while on holiday.
A further 23 per cent told Lloyds TSB that they hide cash under their clothes when travelling abroad.
Jatin Patel, head of foreign transactions and travel, said: "The Lloyds TSB travel money card is an easy way to keep your cash safe without the need for a bum bag."
He added that the card can be "topped up over the phone with a minimum of £50 as and when needed, up to a maximum of £3,000".
Lloyds TSB recently expanded its First Alert service, which contacts customers when suspected fraudulent account activity takes place, to include debit cards linked to current accounts.
UK payments association Apacs found that credit card fraud accounted for losses of some £428 million in 2006.
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