British people planning on travelling abroad this summer are expected to pay a collective £73 million in foreign exchange fees, according to Abbey Credit Cards .
With 57 per cent of people responding to a survey by the company saying they were planning to use their debit or credit cards abroad this year, Abbey has warned of the costs which may be incurred through foreign usage charges.
At a typical rate of three per cent per transaction, the 41 per cent of holidaymakers planning to use their credit card said they would be putting holiday spending on it.
Callum Gibson, head of credit cards at Abbey, said: "Britons holidaying abroad this summer will pay out more than £73 million pounds in foreign exchange fees, a staggering and unnecessary sum at a time when people are having to manage their finances more carefully."
Abbey recently re-launched one of its popular credit cards, with a zero per cent rate for balance transfers and charge-free foreign usage for those wishing to get away during the summer.
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Foreign exchange fees to cost holidaymakers millions, says Abbey
Fri, 22 May 2009
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