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Travellers Urged To Beware Card Fees
Travellers urged to beware card fees by Cheap Flights Booker UK
People planning foreign holidays this year have been urged to remember that they could be hit with heavy fees for using their credit and debit cards abroad.
Foreign exchange company Caxton FX said that banks are set to charge some £754m for overseas transactions this year, 6% more than in 2008.
According to research by comparison site uSwitch, the number of banks that charge customers for using their debit cards abroad has increased twofold since last year.
The average fee paid by a person who uses their card abroad is £1.13, which adds up to a total of £148m for all travellers, or £401m when additional fees for purchases and cash withdrawals are included.
According to Caxton FX, one of the best ways to avoid incurring these fees is to use a pre-paid foreign currency card, which can be loaded with a particular currency prior to a holiday and used for purchases without charge.
The cards are available from many financial service providers, including Caxton, FairFX, Lloyds TSB and the Post Office.
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