Hidden Holiday Spending Fees That Could Cost You £200
New research reveals that two out of three UK holidaymakers could end up losing hundreds of pounds due to hidden fees while traveling abroad this summer.
Holidaymakers are often charged up to three percent on debit and credit card transactions as well as ATM withdrawals made abroad.
For instance, if you spend 10 euros (£8.67) on a glass of wine, you could end up being charged £9.93. According to Currensea, a travel debit card company, a family of four on a week-long holiday in France could face up to £212 in hidden costs after spending on shopping, dining out, and accommodations.
Hidden fees: Holidaymakers are charged up to three per cent on debit and credit card transactions and on ATM withdrawals made abroad
James Lynn, founder of Currensea, emphasizes the importance of securing a favorable exchange rate just as much as finding good deals on flights and accommodations. Surprisingly, more than half of families leave sorting out holiday money until the last minute.
By opting for cost-effective alternatives such as fee-free debit cards, people have the opportunity to save a significant amount of money.
Chase, Starling Bank, and First Direct are among the options that offer fee-free debit cards. The Chase debit card even provides 1 percent cashback on most spending for at least a year.
In addition, the Barclays Rewards credit card has no transaction fees abroad and offers 0.25 percent cashback.
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