Savings accounts provider Santander urges people to use credit card abroad

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Savings accounts provider Santander urges people to use credit card abroad

Mon 13th Sep 2010

Using a credit card abroad could allow consumers to save money, according to a representative from Santander.

Ian Coles, director of Santander Cards, made his comments after research conducted by the firm showed holidaymakers tend to bring back an average of £74 in foreign currency when they come home from a trip overseas.

He explained that using a credit card - particularly one with no foreign exchange fees such as the Santander Zero account - can help people spend only what they need to.

Mr Coles suggested foreign currency brought back to the UK is often left lying around the house.

"We would always expect people to return home with some unused currency - but the amounts that people are bringing back to the UK are unnecessarily high," he added.

Recently, the same firm published statistics showing Brits will pay out £49 million in foreign exchange fees over the course of the summer.

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