Banking customers planning an overseas trip have been urged to think carefully about their financing arrangements following a decision by NatWest.
This month, the banking institution confirmed that overseas purchase fees on its debit cards will increase from 75p to £1.25 from June 1st 2007.
And financing website uSwitch.com estimates that the 66 per cent hike will net the financial services provider an extra £10.181 million per year.
Consequently, Nick White, director of financial services at the financing specialists, suggested that keen travellers may be better off arranging multiple cards before jetting off.
"It may end up being more sensible for some consumers to have two separate cards- one for UK use and one for overseas spending," he said.
However, banking customers who fail to heed this advice could end up receiving a "nasty surprise" upon their return from holiday, Mr White suggested.
Another financial services product that may be worthy of consideration by people planning a holiday is European breakdown cover, American Express' car insurance division's marketing manager Joanne Field suggested last month.
This package, which can be added to a fully comprehensive motor insurance policy, could help them pay for the cost of getting their vehicle shipped home in the event that it breaks down on the continent.
News Side
Consider financing options before jetting off, banking expert recommends
Tue, 17 Apr 2007
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