The survey covered eight markets - South Africa, Russia, Ukraine, Croatia, Saudi Arabia, Egypt, UAE and Kuwait.
Of South African respondents, 22% also chose to access local currency from ATMs at their destination airport, ahead of overseas bank branches and moneychangers (both at 17%) and 31% prefer to access their travel funds both before departure and on arrival.
When travellers were asked about the main reasons for accessing cash on arrival, convenience (86%) was the main consideration, followed by the availability of ATMs and cash access touch-points at destination (47%) and safety (43%). The most popular payment cards used by South African travellers for overseas cash access at ATMs are credit card (47%); debit/check card (36%) and ATM/bank card (33%),
Brian McGrory, head of debit for Asia Pacific, Central Europe, Middle East and Africa, Visa said, "More travellers are realising the benefits of accessing cash through overseas ATMs, while on holiday. Travellers can avoid the risks associated with carrying large amounts of cash and can easily access their travel funds from the card's extensive network of 1.8 million ATMs in over 200 countries and territories worldwide. Most of these operate 24-hours a day and can be easily found at major airports, tourist and commercial areas."
As reported by respondents, travellers from South Africa chose to withdraw an average amount of US$951 before leaving for their last overseas trip, which is 40% less than the overall average of US$1,573.
McGrory said, "Carrying large amounts of cash not only puts travellers' personal safety at risk, there is also the potential problem of dealing with large sums of leftover local currency. Cash lost or stolen is gone forever, whereas lost cards can be replaced easily. Cash withdrawals at ATMs also help travellers to keep track of their expenses while they enjoy their holiday."
