A whopping 45% of Brit holidaymakers got slapped with bank card charges while enjoying their time abroad in the last year, a study of 2,000 travellers has shown.
Blimey, with UK residents jetting off on 86.2 million trips overseas last year, according to the Office for National Statistics, we're talking about an average hit of £21.79 per person in fees just for using their cards!
That's a total of nearly £845million that Brits are coughing up just for the 'privilege' of spending their own dosh abroad.
The research, which was done by Post Office Travel to shout about their new Travel Money Card available at all 11,500 branches, found that a staggering 36% of people don't even know they're being charged extra for using their debit or credit cards overseas.
Laura Plunkett, the big boss at Post Office Travel, piped up saying: "Our research has not only shown a lack of awareness around bank card fees abroad, but that 21% of people also exceed their holiday budgets, which means it's really important to be aware of any hidden charges that could be adding to that cost."
She didn't stop there, adding: "While it is possible to pay with your bank card on holiday - many banks will charge a fee for every single transaction, which can really add up. Card fees can be avoided by using a pre-paid travel card."
And if that wasn't enough to make you think twice, Laura warned: "But it's not just card fees to consider, exchange rates can also fluctuate daily and between banks, so if you pay as you go on a bank card, you can never be certain you're getting the best deal for your holiday money."
Despite a whopping 69% of travellers being clued up on the fact that exchange rates can change daily, over half (54%) were oblivious to the fact that different card providers offer varying rates. A mere one in 20 people knew the exact amount their bank would sting them for using a debit or credit card abroad.
Almost half (47%) were in the dark about the potential charges they could face when splashing the cash on a credit card in local currency.
It highlighted a need for Brits to brush up on their knowledge of overseas payment methods. However, it was found that 54% have steered clear of using a specific card abroad due to fear of unexpected charges.
According to stats from OnePoll.com, 39% have accidentally used the 'wrong' card and been hit with a fee as a result. Nearly a quarter (24%) have turned to a digital wallet on a smartwatch or phone to make payments while jet-setting.
As a result, 66% prefer to stick to cash when abroad, with 47% doing so to dodge card fees. However, 43% of those who favour cash say it helps them keep tabs on their spending, and 25% believe it's safer.
Despite these precautions, one in five holidaymakers still managed to blow their holiday budget.
When quizzed about their biggest expenditure, 35% of people confessed they splurge the most on food and drink, followed by experiences at the destination (19%), or once-in-a-lifetime activities (18%).
A survey unveiled that 14% of respondents splash the most cash on keeping their kids entertained, while 16% splurge to celebrate special occasions during their getaways.
The study also uncovered the top three vacay experiences that are usually too pricey for travellers; a tenth of holidaymakers can't splash out on whale or dolphin watching, 11% don't have the dosh for a room with a sea view, and 10% can't fork out for posher seats on flights.
By dodging those sneaky card fees, globetrotters could funnel more funds into these fab experiences, making their getaways even more epic.
Laura Plunkett said: "Our data shows that despite the world going increasingly cashless, a lot of us are still relying on it to manage our holiday spending money."
"We advise our customers not to leave their holiday cash until the last minute. Exchanging cash at the airport or a ferry port can often mean getting the least competitive rates, and you can get charged if you need to convert any currency back to sterling."
"While some may feel cash is a good way to monitor their spend, a travel money card where you can add a set amount can also be beneficial, especially if you require multiple currencies for a trip giving peace of mind you won't incur additional charges or risk losing your main credit or debit card."
