1 June 2006
Brits will pay £576 million in charges while using their bank cards abroad in Europe this year, according to a price comparison and switching website.
According to uSwitch.com, there are a number of fees with which consumers could be hit while travelling in the continent this summer.
Credit card and debit card holders could face a 'loading fee', levied by the card issuer for converting currency, a cash withdrawal fee, or could be charged for the dynamic currency conversion service, which allows consumers to choose the currency with which to pay for an item when abroad.
"It is possible for consumers to reduce the amount they will pay in fees, or avoid paying them altogether, if they take a little time to research the credit card market before going away," said Nick White, head of personal finance at uSwitch.com.
"In the long term, it may end up being more sensible for them to have two separate credit cards - one for UK use and one specifically for using abroad."
He added: "At the very least consumers should make sure that they are fully aware of the additional charges involved when they use their card overseas."
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