UK holidaymakers waste an estimated £750 million while travelling abroad due to expensive travel insurance and ATM and credit card use.

Nationwide Building Society has revealed that some are using credit or debit cards that charge the user up to 2.75 per cent on charges and withdrawals, costing the nation an estimated £500 million.

The society also estimates that holidaymakers using travel insurance from their travel agent could wind up overpaying by as much as £150. Mintel estimates that 30 per cent of travellers don’t shop around for their travel insurance.

Nationwide believes it can save UK vacationers with a debit card that doesn’t charge its customers while abroad, and a comprehensive travel insurance policy that is significantly cheaper than most other options.

Stuart Bernau, Nationwide executive director said: “It’s a shame holidaymakers allow holes to be burnt in their wallets while they are in the sun. A Nationwide card and insurance plan will avoid the payment of unnecessary fees.”

To read more about credit cards, click here.

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