03 Aug 2015
In the 12 months leading-up to April 2015, UK residents made 51.5 million visits abroad and spent £35.8 billion whilst travelling*. With so much money being spent overseas and to help savvy travellers budget for their holidays, Airport Parking and Hotels (APH) has created a comprehensive guide, which compares the fees incurred by holidaymakers when using debit and credit cards abroad. The research can be found in the Know Before You Go section of the APH website at www.aph.com/cardfees.
The research compares the international fees incurred when using debit and credit cards abroad including non-Sterling transaction fees, purchase fees, cash withdrawal fees and the minimum and maximum charges for a cash withdrawal.
If travellers are choosing to make purchases by debit card when they are abroad, Metro Bank was found to offer the lowest fee. Metro Bank does not charge a non-Sterling transaction fee or purchase fee within Europe, and charges a minimal 1.9% non-Sterling transaction fee outside of Europe, again without a purchase fee. In addition, Nationwide debit card users can also enjoy a competitive 2% non-Sterling transaction fee and no purchase fees.
On the other hand, the research found that purchases made with the Bank of Scotland, Lloyds Bank and TSB debit cards will incur a non-Sterling transaction fee of 2.99% and a purchase fee of £1 per transaction.
When it comes to ATM cash withdrawals, Metro Bank account holders are exempt from paying a cash fee in Europe and only pay a £1 cash fee outside of Europe. For worldwide spending, those paying with HSBC Advance, HSBC Premier and Marks and Spencer debit cards will pay no cash fees on withdrawals. For those thinking about a bank that charges a fixed cash fee, Nationwide only charge £1 per withdrawal and Barclays and Halifax only charge £1.50 per withdrawal, which could be useful when withdrawing large sums of money.
Holidaymakers should consider additional fees when withdrawing money as the research found that HSBC, Natwest and RBS can charge up to £5 per withdrawal. Similarly, other sizable charges are enforced by the Bank of Scotland's regular, Platinum and Premier accounts, Lloyds Bank and TSB who could charge up to £4.50.
The most competitive credit card accounts were found to be the Aqua Advance, Halifax Clarity Card, Lloyds Bank Avios Awards, Nationwide Select, Post Office and Saga Platinum cards as none of these charge a non-Sterling transaction fee, essentially offering holidaymakers the same rate as they would receive in the UK. Conversely, banks such as Barclays, HSBC, and Marks and Spencer Bank all charge a 2.99% non-Sterling transaction fee whilst using their credit card.
For credit card holders looking to withdraw cash abroad, the Halifax Clarity Card charges no cash fee and Barclays also charges no cash fee however it does charge a 2.99% non-Sterling transaction fee. Metro Bank can offer the same economical rates as the Halifax Clarity Card but only within Europe and using it further afield means tourists will incur a 1.9% non-Sterling transaction fee and a £1 cash fee. The remaining 20 credit cards all charge a cash fee of 3%, which will be converted to £3 if the charge falls under this value.
For further information on Airport Parking and Hotels (APH),
Visit www.aph.com or call 01342 859515.
ENDS
NOTES TO EDITORS
*Statistic taken from web page entitled 'Overseas Travel and Tourism, Provisional Results for April 2015' released on 11 June 2015, available at:
About Airport Parking and Hotels (APH)
Airport Parking and Hotels (APH) is the UK's award winning long stay airport parking operator and booking agency, after winning the Best Airport Parking Company for a fifth year running at British Travel Awards 2014. This year APH also celebrates its 35th year as a retailer and operator of pre-booked airport parking and travel extras. APH offers parking at all major UK airports as well as airport hotels packaged with parking and airport lounges. APH is also a carbon balanced company and has, through support of the World Land Trust, helped purchase more than 1,000 acres of endangered rainforest.
Media Enquiries
Sarah Salord / Lauren Hill / McCluskey International / 020 8747 2170 / aph@mccluskey.co.uk
