8 February 2008
High card charges levied by many banks for overseas use is the subject of a new warning from Nationwide.
The firm points out that the majority of credit and debit card providers charge a loading fee whenever the card is used abroad.
Choosing to take local currency out of a foreign ATM is also subject to 2.75% foreign usage charges on some cards.
Many Brits are planning to whisk their better half off for a romantic weekend break this Valentine's - and might not be aware of these high charges prior to the trip.
According to figures from Nationwide, around £2 billion will be spent on Valentine's Day this year - with around one in ten lovebirds planning a special holiday for the occasion.
Jeremy Wood, divisional director at Nationwide, said: "Couples who are planning to go abroad for a romantic getaway this Valentine's Day should be aware of the hidden charges that most card providers impose, which are both costly and unnecessary."
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