Annual Travel Insurance
21 June 2006 Travellers advised to 'avoid pitfalls'
Families and travellers heading overseas are being advised to be mindful of the financial pitfalls which surround the annual trip abroad as it is estimated Brits will be charged over £535 million in foreign usage fees this summer.
The report from the Nationwide Building Society has also revealed that in the last 12 months, 13 per cent of travellers ventured abroad without any holiday insurance cover.
Whether people take out travel insurance or not, they may still fall foul of fees and charges on foreign currency exchange rates and credit card fees overseas, as the Nationwide report entitled Avoiding Financial Pitfalls Abroad suggests.
The report warns holidaymakers to be aware of dynamic currency conversion, which can result in card users being overcharged, to check exchange rates and to look for commission free travel money.
Nationwide's executive director, Stuart Bernau, said: "Quite frankly, some organisations are making excessive profits out of their customers through the cost of foreign currency, travel insurance and - most of all - card use abroad.
"To make matters worse, some of these costs are not exactly transparent."
Card users are warned that cash withdrawal fees overseas are usually set at around two per cent with a minimum charge of £2.
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Families and travellers heading overseas are being advised to be mindful of the financial pitfalls which surround the annual trip abroad as it is estimated Brits will be charged over £535 million in foreign usage fees this summer. The report from the Nationwide Building Society has also revealed that in the last 12 months, 13 per cent of travellers ventured abroad without any holiday insurance cover.
Whether people take out travel insurance or not, they may still fall foul of fees and charges on foreign currency exchange rates and credit card fees overseas, as the Nationwide report entitled Avoiding Financial Pitfalls Abroad suggests.
The report warns holidaymakers to be aware of dynamic currency conversion, which can result in card users being overcharged, to check exchange rates and to look for commission free travel money.
Nationwide's executive director, Stuart Bernau, said: "Quite frankly, some organisations are making excessive profits out of their customers through the cost of foreign currency, travel insurance and - most of all - card use abroad.
"To make matters worse, some of these costs are not exactly transparent."
Card users are warned that cash withdrawal fees overseas are usually set at around two per cent with a minimum charge of £2.
More Annual Travel Insurance News
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Related Annual Travel Insurance News
29 August 2007 Beach holidaymakers get safety warning
Britons have been advised to stay safe when on the beach, as a... [more]
28 August 2007 Nearly two million Britons 'head abroad on Bank Holiday'
Almost two million Britons took advantage of the recent bank holiday weekend to... [more]
24 August 2007 Direct flights boosting Cape Verde travel
Increasing numbers of property investors and tourists alike are heading to the... [more]
23 August 2007 Britons 'prefer epic drives' to air travel
With increasing security measures at airports and risk of delays and costly... [more]
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Annual travel insurance
365 Travel Insurance
specialises in annual,
multi travel insurance
to Europe and worldwide.
Annual travel insurance
from 365 Travel Insurance
covers you for an unlimited
number of trips abroad for 12 months.
Click below to get an annual
travel insurance quote
specialises in annual,
multi travel insurance
to Europe and worldwide.
Annual travel insurance
from 365 Travel Insurance
covers you for an unlimited
number of trips abroad for 12 months.
Click below to get an annual
travel insurance quote