Travel Money

Why you should ALWAYS pay in local currency on holiday: Brits are duped out of £380million a year in hidden fees by paying in pounds

Mail Online

  • Brits pay for goods and services amounting to £26.4billion a year abroad
  • New research suggests 24 per cent of this figure has an extra fee applied
  • Fees range between three and 10 per cent but many don't know about it

Many travellers find it easier to use credit or debit cards instead of carrying cash while on the road. But new research shows that a fifth of UK holidaymakers are unwittingly paying up to 10 per cent extra in fees while using their cards abroad.

Over the course of a year, this amounts to approximately £380million with a significant chunk of this figure accumulated by holidaymakers opting to make payments in their home currency while overseas.

Read the full article here.

Friday 29 July 2016, 02:39pm