15 June 2007
The UK's payments association APACS has joined forces with the Association of British Travel Agents (ABTA) to offer consumers advice on how to make the most of their credit cards abroad.
With stories hitting the headlines about extortionate overseas fees in the lead up to the summer holidays, the organisations have provided a list of stress-free ways to make sure that there isn't a nasty bill sitting on the door mat when you get home.
According to APACS' statistics, 3% of all transactions made on British cards occur abroad with an average of 161 being spent abroad per card.
In addition, 96 was withdrawn from cash machines abroad last year on average, prompting APACS to warn consumers that they may expect fees from the majority of credit card providers for this service.
David Marshall, Head of Communications at ABTA, stressed that there is a "range of payment options available for UK consumers going abroad" and advised consumers to visit APACS' website for more information on the most cost-effective way to pay.
The guide also issues tips on how to keep your financial details safe while abroad to prevent credit card fraud.
"Although the introduction of chip and PIN in this country has significantly decreased fraud on the UK high street, fraud abroad has gone up," said Sandra Quinn, Director of Communications at APACS.
She added that it was vital for travellers to adhere to simple actions like only taking the cards you intend to use abroad and where possible, using internet banking to check for any unusual payments, in order to prevent becoming a victim of crime abroad.