OFT orders banks to be clear on holiday money charges

The Office of Fair Trading (OFT) told the banking industry to make charges for overseas transactions more easily understood by improving credit card summary box information and by revamping websites so that customers will be able to see, at a glance, all the fees that apply.

There is an alternative…get a prepaid foreign currency MasterCard or Visa card and the terms and fees are clear upfront. This may be a case of selecting the right tool for the job. Caxton Fx and Travelex are the ones I’ve used.

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Kevin Harrington
I’m a UK-based B2B marketing consultant, specialising in strategic advice for SME business owners. I bring extensive hands-on expertise to every client engagement. Senior leadership roles across technology, media, payments, and publishing have shaped my practical approach. Highlights include serving as Chief Marketing Officer at The Panoply plc (now TPXimpact), Chief Commercial Officer at Tungsten Network, and Global Marketing Director at BBC Worldwide. Over the years, I’ve guided numerous SMEs through transformation and value creation. Helping businesses evolve and thrive is a genuine passion. Practical marketing insights and succession planning strategies are at the heart of what I do, as I believe growing a business’s asset value should be a rewarding and positive journey for every entrepreneur.

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