Kiwis could have millions of dollars worth of unused foreign currency, according to a recent survey. Photo / 123rf
Kiwis could have millions of dollars worth of unused foreign currency, according to a recent survey. Photo / 123rf
Kiwis could have up to $299m in unspent foreign currency tucked away at home, according to a recent survey by Accor’s booking platform and loyalty programme, ALL.
A survey of 250 Kiwis who have travelled internationally found 64% had leftover holiday money at home after taking a tripabroad.
Almost half (47%) have the equivalent of $49 in leftover foreign currency and 17% have between $100 and $199.
Using passport and travel data, ALL predicted at least 2.25 million Kiwi adults have travelled internationally before, which suggests there could be up to $299m in unspent foreign currency.
The potential amount of spare coins and notes was significant but not necessarily surprising, Accor Pacific chief operating officer Adrian Williams said.
“We’ve witnessed a resurgence in international travel, particularly with young Kiwis, and it’s eye-opening just how much foreign currency is left unused after a trip,” he said.
In the last 12 months, 44% of Kiwis have travelled abroad according to the survey and 55% of surveyed 18 to 34-year-olds.
New Zealanders who have travelled might have some foreign currency at home. Photo / 123RF
Why do Kiwis love foreign currency?
Almost all (92%) of Kiwis prefer to carry physical cash when travelling overseas, despite the availability of cashless travel money cards, the study reported.
Most travel with cash to purchase small items such as food or drinks (67%) or shop at markets that may only accept cash (57%).
Another popular reason is to avoid international card transaction fees (38%).
We’re also a seemingly sentimental bunch. Half of the respondents said they keep currency as they hope to return to the same country and 18% consider it a souvenir.
Meanwhile, 27% said the small amount of leftover money isn’t worth exchanging, so they just keep it.
ALL to host currency exchange pop-up in Auckland
Following the findings, ALL will host a pop-up currency exchange booth outside Auckland CBD’s Movenpick Hotel on November 21 and 22 from 8am to 6pm.
The booth will provide “The World’s Best Exchange Rate” according to ALL. Kiwis can either donate the currency to Cure Kids charity or exchange it by signing up to ALL, for free.
Participants can also win a holiday at various locations across the Pacific, including Sydney, Melbourne, Brisbane or Queenstown.
