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Website warns on card fees overseas

Britons are paying out an extra £686 million in fees for using their credit and debit cards abroad, new research has found.

Card firms commonly charge around three per cent extra for purchases and cash withdrawals made overseas - an average of £1.19 for each transaction.

The study, from website uSwitch, found that around 284 million of these transfers are set to be charged to UK cards this year.

Nine high street banks were also found to be levying charges for every debit card purchase made abroad.

Mike Naylor, personal finance expert at uSwitch.com commented: "The ever-increasing plethora of overseas fees and charges on debit and credit cards could leave consumers with a holiday hangover if they don’t do their homework before boarding the plane.

"Charging a fee for every purchase made overseas on a debit card is a lucrative bandwagon and one that is well worth providers jumping on."

He added: "Any consumer who holds a debit card with a bank levying these charges should think carefully before handing their card over the counter whilst abroad."

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