Which piece of plastic will save you cash overseas?

As the world gets smaller and smaller, we can rest easy that most anywhere in the world we go, we’re never far away from our funds. Our ATM cards and credit cards will be our fail-safes in almost any place we can think of. If we are heading into the outback or the jungle, then of course, other arrangements must be made, but most anywhere that can be pegged as civilization, our usual cards should be enough.

But the story doesn’t end there. Every bank has different rates for transactions made abroad. Credit card interest can rise when making a purchase out of country and the fees to withdrawal cash vary as much as the options faced when choosing a bank itself.

Cheapflights.co.uk has done some research for us and come back with some striking figures that could influence which bank you use if you are a frequent traveller overseas.

If you’re heading abroad for a shopping spree and you pan to burn the strip right off the back of your credit card, a Bank of Scotland One credit card is overall the best choice with its APR at 9.90%. This is substantially lower than Nationwide BS Classic and the Marks & Spencer cards, which charge 17.90%. Ouch.

The next thing to watch for is how much you’re being charged when you withdraw cash from an ATM. If you’re a customer with a Capital One credit card, be prepared to pay £5 each time you take out money.

Be sure to check these kinds of things before budgeting your next trip abroad.