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Monday, 9 September 2019
UK: Ways to 'Brexit-proof' travel money
From MailOnline
Some reminders about the use of debit and credit cards when travelling outside the UK:
Ditch your debit card
"According to Defaqto, a financial information business, the most expensive way for travellers in Europe to spend is by using their debit cards.
It admits there are a few cards that don't charge, but with the convenience of contactless, you could easily rack up charges if you have a card that does.
Defaqto says: 'A daily €5 breakfast of coffee and a croissant over a fortnight could end up costing a whopping £21 in addition to the €70 spent on your breakfast.
Using your debit card is the most expensive way for travellers to spend, according to Defaqto."
Use your credit card
"If you prefer to use a card, Defaqto refers to the credit card as 'the hero of holiday spending'.
The company claims that credit cards can be as cheap as cash and also provide holiday makers with consumer protection relating to anything purchased between £100 and £30,000.
Defaqto points out: 'An evening meal costing €25 could cost travellers between 46p and 68p. In comparison, the same payment using a debit card could cost between 40p and £1.88.'
The credit card has been described by Defaqto as the 'hero of holiday spending'."
Don't draw cash abroad
"Making withdrawals abroad is usually very expensive. Shroff says: 'If possible, avoid drawing money out of a cash machine whilst overseas.
'Not only will your pound not go as far as it used to, but you are also likely to be hit with charges for using the ATM'."
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