People may be able to avoid excessive credit card charges while on holiday by using a prepaid travel card.Andrew Hagger, financial journalist, said there can often be a "marked difference" between the expenses in using one of these devices in a foreign country and the bank charges enforced when normal debit and credit cards are used.Recent research by Travelex found the cost of a holiday can be increased by as much as £70 due to Brits' reliance on using their domestic bank cards when overseas.Mr Hagger explained prepaid cards work by enabling a member of the public to load money on to their card in sterling."Then you take it on holiday, make your purchases or cash withdrawals and you get the exchange rate at the time you had the transaction abroad," he declared.Alternatively, people can take a card out in a predetermined currency and will receive the exchange rate from the time they put the cash in the account when they use it on holiday, the specialist stated.John Fieldman Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.
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