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So How much do prepaid card and bank card companies make

Published on 10 August 2017 in Multi - News by Raffick Marday

So How much do debit card and credit card companies make

Travel Money Cards: Avoid extra fees behind overseas traveling. Over £825 million in fees were charged to UK consumers using their cards abroad last year; the Escape Travel Money Card ensures that you will not incur any charges when in use.

The extra fees and commission costs for using credit cards abroad last year came to more than £825 million in fees for Brits who travelled overseas.

The travel money saving expert Escape Travel Money has advised future holidaymakers to avoid extra charges by using their Escape Travel Money Card, which ensures that there are no extra fees for withdrawing money from foreign ATMs or spending abroad.

Holidaymakers carrying this card will be able to pay in over 32 million locations that accept MasterCard worldwide. Furthermore, the firm added that the card can be blocked at any time if lost or stolen and that their users can also benefit from 20% cash-back on online purchases.

“Rising travel costs are an unfortunate reality, however, a bit of savvy research into the true cost of your holiday money will give you an unnecessary fright,” said Alistair Firth, managing director, Escape Travel Money.

Not a prepaid card

On top of this, Escape Travel Money also said that prepaid credit cards are not all as cash-conscious as they appear and warned that many charge a fee for withdrawing money abroad or add a percentage charge to any transaction.

The firm claimed that Escape Travel Money Card users just need to preload the card with cash before travelling and “take advantage of a competitive exchange rate, and no more fees when spending overseas”.

“Our advice is simple, avoid bank cards and traditional credit cards at all costs when abroad and choose how you spend wisely. The right prepaid card can offer a better exchange rate than well known high street names, and no fees to access your own money,” added Firth.

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