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Bank claims: Overseas withdrawal fees 'cost Brits £260m'

Britons spend a total of around £260 million every year because of the bank charges imposed by cash machines in foreign countries, a poll has discovered.

The research, conducted by travel agency, revealed a typical transaction incurs credit card charges of £2.75.

Approximately 67 per cent of Brits use cashpoints to take out money when on holiday, the study found.

Furthermore, 53 per cent of the people surveyed remarked that they received a "nasty surprise" when returning home.

Previous research by Sainsbury's Travel Money revealed 65.3 per cent of pre-paid cash cards incur charges when they are used overseas. co-founder Chris Clarkson suggested that British tourists ensure they have enough money with them before they embark on their holiday.

They could also consider "loading it up on to a pre-paid card," the representative continued.

He claimed there is "nothing worse" than arriving back at home after a holiday to be "hit by extra charges like credit card withdrawal fees".

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801344125-ADNFCR

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