Most holidaymakers assume using their normal bank card abroad is fine. But Martin Lewis says a simple switch to a specialist card could save you from paying an extra 2.75% to 3% on every single purchase – a hidden fee that quietly adds to your bill without you even noticing. In a clip shared on This Morning’s official TikTok, the MoneySavingExpert founder explained how most high street banks add a « non-sterling exchange rate fee » when you spend abroad. Ignore it and a £100 purchase effectively costs you £103. Switch to one of the specialist cards he recommends, and you get the same near-perfect exchange rates the banks use – without the markup. Martin started by explaining what happens when you spend on plastic overseas. « Your bank gets a near perfect exchange rate on the day – the same as what’s called the spot rate, the city market rates. When you spend on your card abroad though, normally the card company adds what’s called a non-Sterling exchange rate fee of between 2.75 or 3%, » he said. « So your hundred pounds worth of euros cost you £103. »
Source link : https://www.mirror.co.uk/travel/martin-lewis-explains-how-cut-37137883
Author : [email protected] (Neil Shaw)
Publish date : 2026-05-11 06:48:00
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Martin Lewis explains how to cut 3% ‘secret charge’ from holiday costs
By IntelliNews