Santander: Credit card users 'pay above the odds' abroad

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Santander: Credit card users 'pay above the odds' abroad

Holidaymakers who use their credit cards as their primary means of payment while on holiday could end up spending more than they have to, according to Santander.

Research by the bank has found that last year, £122 million was incurred in foreign exchange fees after travellers used their cards while on holiday.

Nearly all credit cards impose a fee of 2.75 per cent on purchases made abroad, Santander has stated, while its own Zero credit card is one of the few on the market that does not.

Emma Roberts, director of Santander Cards, commented: "With many Britons embracing a more careful approach to their spending, foreign exchange fees are one expense that those travelling abroad this year can definitely do without."

Earlier this year, Santander found that 52 per cent of holidaymakers took cash with them when heading abroad, with just five per cent opting to use travellers cheques.

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