Expats could benefit from 'fee-free' card

Britons are paying unnecessary amounts of foreign exchange fees by using their credit cards.

A new survey from European bank Santander has found that Britons are paying 2.75 per cent on every transaction by using their cards for overseas purchases.

Expatriates and travellers could benefit from researching options other than credit cards when considering making purchases in a foreign currency, according to the study.

The report found that in 2009 £1.5 billion worth of purchases made overseas were paid for with a credit card.

This meant incurred charges in foreign exchange fees of £122 million.

Emma Roberts, director of Santander cards, suggested that people consider the Santander Zero Credit Card which is one of the only cards on the market to offer fee-free foreign usage anywhere in the world.

Posted by Sarah Pitton

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