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Foreign exchange advice

To avoid exchange fees and transaction charges when making purchases abroad, Britons could use a credit card.

According to advice from price comparison service moneysupermarket.com, credit cards with a purchase protection period of more than 90 days offer the most competitive options for holidaymakers.

Travellers cheques don't always offer the best deal for overseas spending, explained the website's head of credit cards Steve Wiley.

Alternatively, prepaid cards can offer a solution to tourists with a limited amount of money to spend.

"If you are worried about overspending, prepaid cards will only allow you to spend what is on the card," Mr Wiley stated.

"A credit card with purchase protection of 90 or more days is the best option for purchases overseas," he said, reminding borrowers to choose the right deal as some providers charge between 2.73 and three per cent.

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