24 July 2007 Travellers 'unaware of card costs abroad'
Britons accustomed to using their debit card freely at home may be unaware of the charges levied by their provider if they opt to use their plastic abroad, it has been claimed.
Financial search firm Moneyfacts reports that £12.2 billion was spent by UK travellers on their credit cards last year, with a consequent £335.5 million levied by financial institutions as card charges - and more potential costs if cards were used to withdraw cash abroad.
And £10.4 billion was spent on debit cards, with added estimated fees of £390.25 million.
Lisa Taylor, an analyst at the firm, said: "We take it for granted that using our debit cards is free of charge whilst on home soil, so it's not surprising that some consumers are shocked when they see how the charges stack up after using their card on holiday."
She added that the terminology used by card providers - such as retail conversion or foreign usage charge - can be confusing for consumers and make it difficult to sum the money spent on fees abroad.
The company advises using a non-charging Nationwide debit card abroad, avoiding using credit cards to withdraw cash, carrying a small amount of currency and keeping records of card details in case of theft.
In July 2006, Halifax Travel Insurance reported that credit and debit cards are the fifth most common stolen item abroad, only pipped by money, cameras, clothes and jewellery.
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