With travellers to the continent enjoying a strong pound against the Euro, Caxton FX has told holidaymakers that they could save more money by not using their credit card for ATM withdrawals .
The foreign exchange company advised those making plans to visit Europe over the summer to take a prepaid card instead of a credit card, to avoid having to pay hefty fees every time a withdrawal is made.
Credit card holders can also face exchange fees when they make a transaction in a shop abroad, with research by the company showing as much as £6 for every £90 spent on holiday goes into the bank's pocket.
A representative from Caxton FX recommended its Global Traveller card, which "can be used anywhere in the world and there is no charge for withdrawing cash overseas ".
Recent research by Abbey Credit Cards showed that British people waste up to £1 billion every year when they buy items abroad that they have simply forgotten to take with them on holiday .
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Do not withdraw credit card cash abroad, says Caxton FX
Fri, 19 Jun 2009
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