£16.56 Charge for £500 Debit Card Withdrawal at Foreign ATM | Prepaid365

Powered by PFS
21 November 2014

Tags: , , ,

Ukash Travel Money card reveals the ‘bill-shock’ for holidaymakers that use debit cards to withdraw cash abroad

The fact that mobile phone roaming charges have been halved may be good news for Brits travelling abroad.  However, payments innovator, Ukash, is warning about another hidden cost that causes bill-shock on the return home.

Holidaymaker, Ed, recently withdrew £500 in Euros from an ATM in Spain using his debit card.  When his bank statement arrived a few weeks later he was shocked to discover a cash withdrawal fee of £4.50 and a transaction fee of £12.06.  “I knew I was likely to incur an additional charge for withdrawing cash abroad but I was stunned to see quite how much” explained Ed.

Ukash Chief Executive, David Hunter, believes Ed’s story is very common amongst Brits who head abroad.  “In a recent survey*, we found that over half (58%) of UK holidaymakers use debit cards abroad with a quarter withdrawing cash from ATMs.  Yet over a third (39%) admitted they don’t check details of potential charges before they head overseas.  If they don’t understand potential charges they can’t make informed decisions about their spending.  And this is particularly the case when it comes to withdrawing cash from an ATM.

“For complete control of spending – and the best possible exchange rate – holidaymakers should use the Ukash Travel Money card.  It’s a prepaid card – so all they have to do is load their cash before they head abroad, then use it just like a credit or debit card.  The difference is there are no charges for transactions, loading or even cash withdrawals at ATMs.”

The new Ukash Travel Money card offers the best possible foreign exchange rate on the market.  There are no charges for sign up, transactions or ATM withdrawals abroad, which means that it definitively offers the best way to make holiday money go further in Europe and the USA.

It can be ordered online in minutes and will be delivered in five to seven working days without the need for any credit checks.  The card can be topped up online instantly using a debit card – even while travelling – and cardholders can check their balance and transactions and top up their card at any time online completely free of charge.  Plus any money left on the card can be used for the next trip rather than worrying about often costly conversion back to sterling.

“Ed’s story is not surprising – and he has probably had these charges every time he’s used his debit card to withdraw cash abroad”, added David Hunter.  “The difference is, since the start of this year the banks have had to itemise the charges on statements so it’s there in black and white.

“To avoid the post-holiday blues we suggest this Summer’s travellers do a bit of planning ahead and get a Ukash Travel Money card.  It’s the simple and convenient way to make spending money go further, with the best exchange rates, no fees for usage and free ATM withdrawals.”

Comments are closed.

Want to find out more about corporate travel cards?

Get in touch