Brits Hammered By Foreign Exchange Fees, Says Expert

British Holidaymakers are likely to be "hammered" by foreign exchange fees and large transaction costs when making purchases abroad, it has been claimed.

Instead, Steve Willey, head of credit cards at moneysupermarket.com, has suggested those taking a holiday should consider taking a credit card with a purchase protection of 90 or more days.

These, he said, are the "best option" for people choosing to make purchases while on their Travels.

The expert said that credit cards from the Post Office, Nationwide and Saga offer such features, while also not levying foreign exchange fees in European countries.

Meanwhile, for those concerned they may be tempted to over spend while on holiday, Mr Willey suggested they take a prepaid card to set themselves a limit.

His advice follows a report by Marks & Spencer Money which found that the euro is the UK's "favourite" form of "holiday cash".

Fraser Millar, M&S travel money manager, said that the amount spent in euros by Brits abroad is likely to reach a record high this year.

Travel Website News posted on 14/03/2008 11:15:24