Sterling's finally rising against the Euro... Up to a nineteen-month high this week. A pound is now equal to 1.2 euros. But as millions prepare to go on holiday, they're in danger of seeing those gains wiped out...
Have your say on Martin Lewis' report... Do you know how to get the best and worst out of spending and exchanging your money abroad?
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Lloyds banking group statement:
We believe the fees incurred on our Halifax, Bank of Scotland, and Lloyds TSB debit cards when used abroad are competitive and compare favourably to the cost of purchasing currency. The fees cover the cost of providing this service to our customers.
We clearly explain to our customers the additional fees we apply to exchange rates on international debit card transactions before a customer incurs them.
A Santander spokesman said:
"Customers need to take into account different factors when looking at which current account gives them the best value, not just*single out one fee which is charged on a handful of transactions which are made while overseas. Santander*current accounts offer the best in credit interest rates, the best overdrafts, the convenience of over 1300*branches, plus safe and secure online banking.
*
"If customers are going abroad regularly, it is likely that the debit card which comes with Santander's Zero Current Account, or*Santander's Zero Credit Card, will be better for them to use as there are no overseas transaction fees.
*
There are very good reasons why customers might want to use their debit card whilst abroad - they don't have the risk of carrying around large amounts of cash, the convenience of being able to make purchases and not have lots of foreign currency left at the end of the holiday, or the hassle of trying to find a genuinely good exchange rate, which many commentators agree can be quite tricky as 'commission free' foreign exchange is likely to come with an exchange rate which is really quite poor."
Travelex response:
Travelex is committed to providing its customers with convenience and great value. Our online price promise available from travelex.co.uk continues to offer holidaymakers the best all-round deal on travel money. Currency ordered online can be collected at the airport on the day of departure or can be home delivered. Euros and US Dollars ordered online can be collected within just 4 hours from the time of order. Our retail stores, located at every major airport in over 30 countries, provide the ultimate convenience for travellers wanting to change their money knowing that we are open, with all major currencies in stock, 24 hours a day 365 days a year. As well as cash we're also leading the way in pre-paid travel cards which can be loaded with foreign currency and used abroad offering a safe and secure way of paying for goods and services as well as helping to avoid the charges associated with credit and debit cards.
Holiday spending
Have your say on Martin Lewis' report... Do you know how to get the best and worst out of spending and exchanging your money abroad?
In order to see this content you need to have both Javascript enabled and Flash installed. Visit BBC Webwise for full instructions. If you're reading via RSS, you'll need to visit the blog to access this content.
Lloyds banking group statement:
We believe the fees incurred on our Halifax, Bank of Scotland, and Lloyds TSB debit cards when used abroad are competitive and compare favourably to the cost of purchasing currency. The fees cover the cost of providing this service to our customers.
We clearly explain to our customers the additional fees we apply to exchange rates on international debit card transactions before a customer incurs them.
A Santander spokesman said:
"Customers need to take into account different factors when looking at which current account gives them the best value, not just*single out one fee which is charged on a handful of transactions which are made while overseas. Santander*current accounts offer the best in credit interest rates, the best overdrafts, the convenience of over 1300*branches, plus safe and secure online banking.
*
"If customers are going abroad regularly, it is likely that the debit card which comes with Santander's Zero Current Account, or*Santander's Zero Credit Card, will be better for them to use as there are no overseas transaction fees.
*
There are very good reasons why customers might want to use their debit card whilst abroad - they don't have the risk of carrying around large amounts of cash, the convenience of being able to make purchases and not have lots of foreign currency left at the end of the holiday, or the hassle of trying to find a genuinely good exchange rate, which many commentators agree can be quite tricky as 'commission free' foreign exchange is likely to come with an exchange rate which is really quite poor."
Travelex response:
Travelex is committed to providing its customers with convenience and great value. Our online price promise available from travelex.co.uk continues to offer holidaymakers the best all-round deal on travel money. Currency ordered online can be collected at the airport on the day of departure or can be home delivered. Euros and US Dollars ordered online can be collected within just 4 hours from the time of order. Our retail stores, located at every major airport in over 30 countries, provide the ultimate convenience for travellers wanting to change their money knowing that we are open, with all major currencies in stock, 24 hours a day 365 days a year. As well as cash we're also leading the way in pre-paid travel cards which can be loaded with foreign currency and used abroad offering a safe and secure way of paying for goods and services as well as helping to avoid the charges associated with credit and debit cards.
Holiday spending