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With the Easter Break fast approaching many of us will be looking forward to jetting off for a few days. But before you go make sure you’ve taken the right credit card with you. According to Nationwide, UK holidaymakers wasted over £650 million on foreign currency usage fees during 2007.
Using a credit or debit card is the most convenient way to spend money while abroad. However it is important to find out how much this will cost before you go. “People who are planning to go abroad this Easter should be aware of the hidden charges that most card providers impose, which are both costly and unnecessary,” warns Jeremy Wood, divisional director at Nationwide.
Hidden fees are typically set at 2.75% and up to 3% on purchases and cash withdrawals outside the UK. Nationwide claims to be the only high street financial provider not to charge a foreign currency loading fee for customers using its cards abroad. The company says this saved its customers over £3 million in foreign usage charges last Easter alone.
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