Users of credit and debit cards have been warned that they could add to their debt management difficulties by spending money while on holiday.
Research by uSwitch.com suggests that British holidaymakers could be charged a total of around £759 million by their service providers for spending on their cards outside the UK.
And the price comparison service warns that a number of the country’s most popular banking groups have increased the costs associated with spending outside the UK in recent weeks.
Mike Naylor, personal finance expert at uSwitch.com, said: “Holiday spending can be difficult enough to budget for at the best of times, without the bill creeping up by way of these hidden charges.
“It is possible for consumers to reduce the amount they will pay in fees, or avoid paying them altogether, if they take a little time to research the credit card market before going away and make sure that they are packing the right plastic.”
A report from MoneyExpert.com recently claimed that almost one in five UK consumers add to their debt management problems in order to pay for their summer holidays.