There's only one thing more certain than sunshine if you holiday abroad: your holiday spending will cost you dear. Holiday currency exchange is a licence for banks to print money, says Dido Sandler in FT Money. She has a point. Foreign loadings, transaction fees and commissions are just some of the extra charges you could end up paying.
Let's say you withdrew £1,000 from a cashpoint abroad with a Lloyds credit card. You would pay a 2.75% foreign loading fee and a 2% withdrawal fee. In addition, your interest rate would be 19.5% and there's no interest-free period. So you would pay a total of £47.50 in charges.
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