The Business of Holiday Money

The countdown to your holiday has begun; the flip flops are packed, the sunglasses are in your bag and the trashy novels for the beach are just waiting to be popped into your hand luggage. So what forethought have you given to your spending money? If you were just intending on taking your credit or debit card then think again, this is just one of the ways that holidaymakers get burnt while on holiday, and it can be a lot more painful than the sun!

A new campaign has been launched by the credit card company Capital One, with the sole intention of bringing certain things to the attention of their customers that are aimed at them saving money while on their travels. Their first tip is to always use cash to purchase your foreign currency, and to do it on the high street not at the airport. There are 2 reasons for this; a) so you don’t pay any charges and b) so you get the best exchange rate.

Did you know that while most cards incur a charge every time you use them abroad, there are others intended for this use and incur no charges? Many aren’t aware of this and come home to statements that are littered with fees and charges. Be a savvy traveller and make sure you have the right card with you.

Speaking of fees and charges, these vary dramatically when you make withdrawals from foreign cash machines, and you often don’t realise how many you have incurred when you have made repeated trips to the ATM. By making just one or two large withdrawal as opposed to a lot of smaller ones you will only have one or two charges on your statement instead of several.

There are two video to back the campaign which are available to view on the Capital One website, along with lots of other hints and tips all aimed at saving you money on your holidays.