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Spending a small amount of time and effort arranging your holiday spending money could see you making significant savings. Using your credit and debit cards abroad may appear to be the easiest and most convenient way of transacting, but costs can soon mount up if you're not careful.
There is usually a commission charge and a cash withdrawal charge for transactions in currencies other than sterling (GBP).
The table below highlights the current charges, by provider, for transactions made in currencies other than sterling (GBP).
Questions & Answers
Q.How will I know how much I've been charged for a transaction abroad? Will my foreign transaction be shown on my bank statement
a.Your bank or building society statement will show details of your overseas transactions, including a breakdown of any commission and cash withdrawal charges incurred.
Q. When will the foreign use charges be taken from my account?
a.Both the commission fee and the non-UK cash withdrawal fee will be taken from your account on the day the transaction is shown on your account. This may not be the same day you carried out the transaction as it depends on when the merchant posts the payment.
Q. Can I use a card abroad without paying fees?
a. Yes, but you’ll need to find one that’s been specifically designed for use abroad. You can find an overview of the top travel credit cards that charge low (or no) fees for foreign use here.
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