Check card before using it abroad

Britons have been advised to do their research before using their debit or credit card abroad.

Writing in the Daily Telegraph, personal finance journalist Sophie Butler said that using debit or credit cards overseas can cost consumers a pretty penny.

"These charges vary according to the bank or building society you belong to, but the typical amount is 2.75 per cent of the transaction. This means, for example, that you'd pay €11 on a hotel bill of €400," she explained.

"But it's not quite that simple. Because the exchange rate changes daily, you're unlikely to know the exact amount taken by your bank until it appears on your statement."

To avoid this, she suggested that cardholders check the terms and conditions on their products before using them overseas.

Alternatively, international money transfers could be useful, particularly for those travellers who frequent the same destinations or expatriates with foreign bank accounts.

Posted by Chris Barber

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