 have had local currency stolen – or lost it themselves – while more than a fifth (22%) got caught out paying hotel rates for excursions, that were cheaper elsewhere. In all, 65% of travellers admit to financial issues that have cost them cash abroad, with six in ten of these incurring fees for withdrawals and debit card transactions overseas. This research, commissioned by HSBC UK to launch its new account, Global Money, allows customers to spend abroad (withdraw cash or make card purchases) without the bank charging fees. One in ten have struggled to understand exchange rates - and ended up overpaying for things ( Richard Baker/In Pictures/Getty Images) Tom Wolfenden, head of retail at the bank, said: 'As the research shows, spending abroad can be mind-boggling if you don't fully understand conversion rates and local currency. 'This year many people will be travelling internationally again, but with the rising cost of living they'll also be keeping a close eye on their finances. Travel insiders' top five hacks to get extra legroom for free on flights 'The most popular way to spend abroad is with a debit card – but traditionally, this incurs fees, and exactly what people are paying isn't always clear. 'Customers should be able to manage their money whenever and wherever they want without worrying about fees. 'We want to make it easier for our customers to manage their sp){kind=link}
One in 10 have lost foreign currency while abroad, or had it stolen, while six in 10 have incurred fees for debit card transactions
Two-thirds of holidaymakers admit they have been stung by unexpected costs while abroad, including paying in UK rather than local currency â and not taking the opportunity to haggle.
Other top financial mishaps for Brits abroad include not understanding the exchange rate and therefore wildly overpaying for an item â which 12% have been guilty of.
And the poll of 2,014 adults found that a further one in 10 (11%) have had local currency stolen â or lost it themselves â while more than a fifth (22%) got caught out paying hotel rates for excursions, that were cheaper elsewhere.
In all, 65% of travellers admit to financial issues that have cost them cash abroad, with six in ten of these incurring fees for withdrawals and debit card transactions overseas.