The findings come as Post Office Travel's Travel Money Card is rolled out across its 11,500 branches Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Travellers from the UK could be unwittingly squandering a staggering £845million in bank card fees while abroad - often because they don't know the three specific rules.
Research involving 2,000 holidaymakers revealed that nearly half, 45 per cent, were hit with charges for using their bank cards outside of the UK over the past year, averaging an annual cost of £21.79 per person. Office for National Statistics (ONS) data indicates that UK residents made 86.
2 million trips overseas last year, suggesting a significant amount of money is being wasted on avoidable fees. The study, conducted to celebrate the nationwide rollout of Post Office Travel's Travel Money Card across its 11,500 branches, also highlighted that 36 per cent of individuals are clueless about the fees linked to their debit or credit cards when travelling - the first key rule being missed. Moreover, the survey found a second - that 47 per cent of people did not realise they could incur charges when making purchases with a credit card in the local currency, pointing to a gap in knowledge regarding spending money abroad.
Laura Plunkett, head of Post Office Travel, commented: "Our research has not only shown a lack of awareness around bank card fees abroad, but that 21 per .