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Date: 07/08/2015

Keeping Cash Safe Abroad

With the threat of Greece's exit from the Euro, travellers headed to Greece for a summer holiday might be concerned about several things, including their holiday money. There are some things that those planning a break in Greece should be aware of - keep your cash safe abroad with these tips.

Should you travel?

If you decide not to travel, it's likely you'll lose your deposit or the full balance of your holiday, depending on what you have already paid. The Foreign Office hasn't issued any advice against travelling to Greece, so it's still considered safe to go on your holiday. If you've booked a package holiday, you're covered via the Civil Aviation Authority's ATOL (Air Travel Organisation) scheme, so if your tour operator goes out of business, your holiday money is protected. Booking flights and accommodation separately means you're not protected by ATOL - so make sure you take out single trip travel insurance before you jet off, and check that your travel insurance will cover you in the event your airline or accommodation provider goes bust.

Holiday currency

Whilst reports suggest that travellers can still withdraw as much cash as they need from ATMs, it makes sense to ensure you have enough foreign currency with you to cover the duration of your holiday, as well as Euros for emergencies and unforeseen delays. You may find that some smaller shops, restaurants and hotels are refusing to take card payments, due to the financial situation in Greece. It's a good idea to take precautions such as leaving some cash in your hotel safe, dividing large sums of money between your group and wearing a money belt under your clothes to keep your cash safe.

Should you be concerned?

As things stand, there is no cause for serious concern amongst holidaymakers heading to Greece, provided you have packed enough currency to see you through your trip. It's a good idea to keep an eye on the Foreign Office website for travel updates, as if the situation changes, the Foreign Office may advise against travel to Greece and you may be able to claim a refund for your package holiday this summer - so stay up to date with the latest news.