Holiday rip-off: Millions of travellers hit with hidden costs by using debit card abroad

A family of four on a week-long trip to France could pay an extra £212 in fees by using their everyday bank card compared to the lowest-cost option, according to new research. We expose the hidden debit card fees and reveal how to get the best deal.

woman at airport
(Image credit: © Getty Images)

As the summer holiday season beckons, new research reveals that millions of holidaymakers are being caught out by huge fees just to use their debit card abroad.

Two-thirds (67%) of people think there are hidden costs when using a debit card overseas, while 58% say they feel they are being “ripped off” when they use it, according to research by travel debit card Currensea. Calculations by Currensea show that a family on a week’s holiday in France could be £212 out of pocket while a couple heading to New York for a weeklong break face additional fees of up to £295. Some debit cards from high-street banks charge as much as 4.75% for withdrawing cash at ATMs abroad, and 2.75% for buying things in shops and restaurants.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.