Tag: currency exchange

Brits waste money on currency exchange fees

Brits waste money on currency exchange fees

Brits travelling abroad last year wasted £122 million on unnecessary foreign exchange fees when using their credit cards, according to research by Santander. Overseas holidaymakers spent £1.5 billion on credit cards last year, an average of £600 per traveller. Many credit card providers charge foreign exchange fees of up 2.75%, Santander revealed, equivalent to £16.50 [...]

February 16, 2010 | 0 Comments More
Which? issues online currency exchange warning

Which? issues online currency exchange warning

Consumer advice magazine Which? has warned Brits planning a holiday overseas to watch out for hidden charges on online currency exchange services. Competitive exchange rates offered by online providers may be tempting, Which? said, but additional charges such as credit card transaction fees and delivery fees can make online currency services more expensive than the [...]

August 20, 2009 | 0 Comments More
Holidaymakers spend £73m on unnecessary currency fees

Holidaymakers spend £73m on unnecessary currency fees

Brits taking their summer holiday abroad this year will spend £73 million on debit and credit card fees, it emerged this week. Research by Abbey Credit Cards found that British holidaymakers pay an average of 3% in conversion fees every time they use an overseas ATM or spend money on their card in a foreign [...]

May 26, 2009 More
Abbey relaunches ‘fee-free’ Zero credit card

Abbey relaunches ‘fee-free’ Zero credit card

Abbey yesterday relaunched its Zero credit card, providing fee-free currency exchange and cash advances. The card is the only one currently available that offers these services for no fee. In addition, the Abbey Zero offers 0% interest on balance transfers for 12 months, and on purchases for three months. Roger Lovering, managing director of Abbey [...]

May 12, 2009 | 0 Comments More
Beware the myth of ‘commission free’ exchange rates

Beware the myth of ‘commission free’ exchange rates

British holidaymakers are being misled into believing that a ‘commission free’ exchange means they are getting the best deal for their holiday money. Online currency provider FairFX said many Brits are unaware that the exchange rate is just as important as the commission fee in determining how much of a foreign currency they’re getting for [...]

April 7, 2009 | 0 Comments More