Britons could save £660m on travel money
(28 March 2007)

Britons could save a collective £660 million each time they go to Europe by opting for the best travel money product, it has been claimed.

Some £335 million will be incurred in credit card charges while travelling worldwide this Easter, according to Moneysupermarket.

It is currently possible to spend abroad using credit cards, debit cards, pre-pay cards, foreign currency or travellers' cheques, but the group claims that the average traveller could save £43 for each trip if they use the best products.

Robert Kenley, head of credit cards at moneysupermarket, said: "People should endeavour to review each product and attempt to match the product to their proposed spending habits.

"For example, if someone is worried about overspending, regardless of fees, then a pre-pay card could be the best option, as you can only spend what is on the card and cannot go into the red."

He added that if a person plans to rely on cash withdrawals, they should seek out the card with the lowest transaction charges, while travellers' cheques and foreign currency have traditionally been seen as the "safest bet".

Earlier this month, the Post Office released figures showing that 49 per cent of UK holidaymakers plan to use their credit card to shop abroad.