Money News
UK holidaymakers can now get commission-free foreign currency from new specially designed cash machines at selected Post Office branches.
Effective immediately, foreign exchange ATMs are being trialled in thirteen branches nationwide, giving people even more convenience when it comes to buying their holiday cash. The 13 branches are in: Ashford, Harrogate, Fareham, Bristol, Basingstoke, Solihull, Harlow, City of London, Birmingham, Stockport, Crawley, Trafalgar Square (London) and Dartford.
Customers using the ATMs will simply be able to insert their debit cards and select one of two mainstream currencies (euros or US dollars). There will be no charge for withdrawing cash, they get the same exchange rate as over the counter and withdrawals are commission-free too.
The new machines supplied by Bank of Ireland are being trialled to complement the extensive range of counter services already available from Post Office bureaux de change, making it even easier for holidaymakers to get their Travel Money quickly and efficiently.
The announcement comes as recent figures show that there were 309 million overseas transactions on UK-issued cards last year (3% of all transactions on UK-issued cards). In fact, using a debit card to withdraw cash abroad is so popular with UK holidaymakers that a total of £7.1 billion was withdrawn from overseas cash machines in 2007.
20 June 2008 © Moneyextra.com
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