New research reveals the eye-wateringly high cost of taking cash out while on hols. Some debit-card providers, reveals Norwich & Peterborough Building Society, are charging an average of £5.99 every time customers make an ATM withdrawal in the most popular holiday destinations.
Customers visiting the top 10 travel hot spots last year took out an average of £126.02 every ATM visit.
The average amount taken out per ATM visit in the top 10 countries varies from £99.43 in New Zealand to £162.77 in Thailand, with the average equivalent charge per withdrawal varying from £4.83 to £7.73.
Average amount withdrawn per ATM visit in top 10 most popular countries
1. Spain – £143.37
2. France – £126.99
3. Australia – £106.96
4. Thailand – £162.77
5. United States – £122.13
6. Portugal – £117.36
7. New Zealand – £99.43
8. Italy – £129.67
9. Greece – £149.85
10. Germany – £101.64
Ewan Edwards, N&P’s Head of Current Accounts, said: “We are just starting to hit the traditional holiday season and families need to think carefully about how they plan their spending.
“Choosing a debit card that provides free use abroad will take away the concern about what extra fees they could be hit with during their trip.
“Spain was the country where our customers made most withdrawals last year and they would have faced paying up to £6.81 for the average withdrawal there had they not used a fee-free card. Among the most popular destinations, visitors to Thailand should be most wary – on average, customers there would pay £7.73 in fees for the average withdrawal with some cards.”
An alternative to these high costs is N&P’s Gold Classic and Gold Light Visa debit cards which are fee-free.
