has warned Brits to be careful using their bank cards while on holiday this summer. The money saving expert explained that most banks add a fee to foreign transactions, which could by 3%. Instead, he suggested using "top specialist overseas cards" that are fee-free, meaning consumers pay the same exchange rates as the bank.
He wrote in his Weekly Money Tips: "CHEAPEST WAY TO SPEND ABROAD: Use the right plastic for best rates for euros, dollars, dong & more. Spend on your plastic abroad and banks get a virtually-perfect exchange rate for that moment, but most add up to 3%-ish non-sterling exchange fees on top of what we pay. So £100 worth of euros costs you £103, and others whack more fees on too. Yet top specialist overseas cards don't add this fee, so you get the same near-perfect, bureaux-beating ."
Money Saving Expert (MSE) provides a guide to the , and pinpointed its top three as the Barclaycard Rewards Visa credit card, Chade Mastercard, and First Direct Mastercard debit card.
All three allow users to withdraw money from an ATM without paying any fees or interest. The Barclays and First Direct cards can take out up to £500 a day, while Chase's maximum is £1,500 a month.
They also , as long as the Barclays credit card payments are made in full each month and the First Direct interest-free overdraft is not exceeded. There is no overdraft facility for the Chase card.
MSE also listed some alternative travel credit and debit cards. For credit cards, it recommended the NatWest Travel Reward, Santander Edge, and Halifax Clarity. For debit cards, it suggested Starling and Currensea.
Mr Lewis issued other travel pieces of advice to Brits going abroad this year.
He urged to make sure, on the day you enter a new country, they are valid for at least six months (three months for the EU) and less than 10 years old.
Those going to America also need to obtain an Electronic System for Travel Authorisation (ESTA), which allows you to enter the country for tourism or business for a maximum of 90 days without needing a visa.
