Tuesday 6th March 2007
Those looking to compare credit cards may be interested in the news that UK holidaymakers could be wasting a total of £258 million in banking fees while abroad.
According to the Post Office, almost half of Britons on holiday plan to use their credit cards, but 47 per cent of these are unaware of the potential extra cost involved with doing so.
While some credit cards can charge up to 2.75 per cent per transaction, it was found that 34 per cent of people believed their provider did not charge at all and 18 to 24-year-olds were the age group least likely to be aware of such levies.
"Its shocking not only to see how much people are being penalised to use their cards on holiday, but how few are aware of this," said Claire Oldstein, head of communications at the Post Office.
"We urge holidaymakers to check with their bank or credit card provider whether they will be paying a fee to shop overseas before they go," she added.
In addition to credit cards, the Post Office also offers a range of insurance and financial products.
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