UK Money News
24th June 2008
Fees warning for card use overseas
Britons are set to pay hundreds of millions of pounds worth of fees for using their credit and debit cards abroad this summer, it has been claimed.
According to research conducted by MoneyExpert.com, the total withdrawn by UK holidaymakers is set to hit £7 billion this year.
In so doing, however, they will incur at mush as £284 million in fees, the site calculates.
Sean Gardner, head of the site, said that customers worried about their spending on holiday can limit their costs by opting for account which do not charge fees, such as Nationwide's FlexAccount. .
Mr Gardner said: "Many people are likely to be unaware of the charges they can incur for withdrawing cash abroad.
"If money is tight this year we highly recommend that travellers do some research and find the best deal available."
MoneyExpert.com found that the average cash withdrawal abroad is equivalent to £103, but that fees will raise the sum on the statement to £107.
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