Caxton FX: Beware of withdrawal charges abroad

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Caxton FX: Beware of withdrawal charges abroad

Fri 19th Jun 2009

Currency firm Caxton FX has highlighted that Brits can incur some hefty fees by drawing money out abroad while holidaying and has suggested an alternative to this.

According to the organisation, holidaymakers can save some vital funds by taking a prepaid currency card with them when jetting off, as this will not incur the same withdrawal or transaction fees of a traditional credit card.

Research conducted by the firm recently showed that costs can mount to around £6 for every £90 Brits withdraw from their credit cards overseas.

These hidden charges, it highlighted, end up in the pockets of banks rather than going towards treats while on holiday.

Earlier this week. British families heading abroad were met with the good news that the pound hit a seven-month high against the euro, meaning holiday cash could go even further this summer.

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