Britons 'wasting money on overseas ATMs'

While Britons may be keen to take the time to plan their holiday this summer and search out the best possible deals - such as by visiting a more budget-friendly destination like Slovakia - they should be careful not to spend more than they need when they go away.

According to CaxtonFX, holidaymakers should take care to watch out for any hidden charges when they travel to a foreign country, such as those incurred when they use an ATM to make a cash withdrawal.

The group states that most ATM machines charge 2.5 per cent of the cash being taken out, or a minimum of £3 per withdrawal.

This means that making ten withdrawals while on holiday could cost some £30 in charges.

As a result, the group recommends packing a currency card in suitcases in order to get better value for money.

This may be particularly advisable after FairFX noted that exchange rates were playing an increasingly important role in holiday choices.