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Just when many analysts had come to terms with the 3.5% rise in retail sales in May and the fact this did not seem correct, June has seen a fall of 3.9% in sales – the worst fall in 22 years. The...
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Tuesday 6th March 2007
Forty-seven per cent of UK holidaymakers are unaware that money they spend on plastic overseas does typically incur a charge back in Britain.
Latest figures published by the Post Office reveal that 34 per cent of tourists are convinced that their credit card provider does not charge a fee - despite only two cards on the market offering zero fees for overseas transactions.
Forty-nine per cent of Brits tend to use plastic for overseas shopping, with UK holiday spending sprees amounting to an estimated £9.4 billion.
With most credit card providers charging a typical 2.75 per cent fee per overseas transaction, UK tourists could be paying an extra £258 million in charges to their bank.
Brits are now four times more likely use credit cards abroad than ten years ago. Post Office head of communications Claire Oldstein described it as "shocking" how few holidaymakers are aware of the charges.
Ms Oldstein said: "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. There are great value zero per cent deals available which can ensure you return home with only shopping bags and happy memories, and not a bigger credit card bill."
She added: "It's not just credit cards that carry a fee when used abroad - we urge debit card holders to also check with their card provider whether it will cost them extra to spend on holiday."
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