Published • loading... • Updated
Tourists overspend on their holiday budget by more than £100
The bank said the move will help customers avoid surprise charges as a poll of 2,000 adults found 43% blame hidden fees for breaking budgets.
- The Co-operative Bank is removing its 2.75 per cent foreign transaction fee on debit card spending across all personal current accounts to help customers avoid extra costs when traveling abroad.
- A OnePoll study of 2,000 adults revealed hidden charges often break holiday budgets; despite 53 per cent setting strict spending limits, 43 per cent blame unexpected fees for overspending.
- Although 91 per cent of holidaymakers check exchange rates, one in three do not know paying in pounds is more expensive; 34 per cent struggle to understand exchange fees entirely.
- Kat Robinson, head of everyday banking at The Co-operative Bank, said, "By removing foreign transaction fees, we're making it more affordable for customers" to spend overseas without worry.
- To combat sneaky fees, 70 per cent of travelers primarily use cash while 44 per cent opt for debit cards; the change aims to help millions of Brits minimize unexpected charges.
Insights by Ground AI
31 Articles
31 Articles
Coverage Details
Total News Sources31
Leaning Left2Leaning Right0Center25Last UpdatedBias Distribution93% Center
Bias Distribution
- 93% of the sources are Center
93% Center
C 93%
Factuality
To view factuality data please Upgrade to Premium
