How to make the most of your money overseas

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How to make the most of your money overseas

Mon 30th Nov 2009

Caxton FX has suggested that prepaid currency cards could save people money when travelling to Europe over the festive period.

The financial services provider notes that some online and high street currency dealers offer so-called commission-free deals that can end up being uncompetitive due to the exchange rate.

It added that using a debit or credit card abroad can also leave travellers with less money to spend on fun activities and holiday spending, as they often charge withdrawal fees.

The amount charged to debit or credit cards for ATM withdrawal fees can be as much as £1.75 per transaction, Caxton FX said.

Earlier this month, Duncan Higgins, senior analyst at Caxton FX, said that the pound could enjoy a boost at the beginning of 2010.

However, he noted that it could face challenges from "lingering concerns" over the Bank of England's quantitative easing programme, which was first introduced earlier this year.

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