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Debit card dangers for foreign withdrawals
With many banks switching their debit cards from Maestro to Visa in recent months, customers are being warned of the consequences if they use their debit cards abroad.
Charges for making withdrawals from cash machines in others countries are likely to be significantly higher with the new Visa debit cards than with the old Maestro debit cards, Citywire is claiming.
The withdrawal fee could be as high as two per cent on the new debit cards – and that's on top of any foreign loading fee or minimum charge that might be imposed.
Fees for using credit cards to make cash withdrawals in other countries are also high, but can be avoided with the right deal.
Cards are available from Santander and the Post Office with no surcharge for use overseas, for example.
Tags: dangers of using your debit card abroad, debit card foreign exchange charges