Nationwide: Don't be cheated this Valentine's Day

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Nationwide: Don't be cheated this Valentine's Day

Fri 8th Feb 2008

Nationwide Building Society is warning customers planning to get away for a romantic break this Valentine's Day to avoid paying unnecessary charges when using their cards abroad.

The company estimates that last February its customers lost over £27 million in foreign loading charges that could have been avoided.

According to Nationwide Building Society most lenders charge a loading fee of around 2.75 per cent when customers use their card abroad, with some then adding on extra charges for using a debit card to make a purchase or withdrawing money on a credit card.

It offers free credit card use abroad and Nationwide FlexAccount customers can withdraw their cash without incurring any charges or loading fees.

Jeremy Wood, divisional director at Nationwide, said that couples who are planning a romantic getaway this Valentine's Day "should be aware of the hidden charges that most card providers impose".

Insurer Direct Line revealed earlier this week that Brits are expected to spend a staggering £1.32 billion on Valentine's gifts for their loved ones this year and it urged people to ensure that they had the right insurance cover for their new valuables.

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