N&P cuts the cost of foreign currency

N&P (Norwich and Peterborough Building Society) is giving another boost to holidaymakers by cutting the cost of foreign currency for those going abroad this Spring.

This saving on foreign currency - lowering the threshold for free delivery of currency from £500 to £400, and reducing the delivery from £5.40p to £3.95 - is in addition to the introduction of free overseas debit card transactions earlier this year.

Ewan Edwards, head of current accounts at N&P, said: "At a time when inflation is high and people are looking to tighten their belts wherever they can, this additional move by N&P to cut the cost of foreign currency could help them save a few quid on their overseas trip.

"People are not generally aware that a withdrawal from an overseas ATM can cost a holiday-maker up to £12 for withdrawing £250 worth of local currency, or that the fees many providers charge for using plastic to pay for shopping, restaurant meals or excursions could add up to a nasty financial hangover when you get home, unless you make some savvy choices.

"Those who have already switched to N&P's current account will be able to enjoy these benefits immediately. For those looking at going away this summer, now is a perfect time to have a bit of a financial Spring clean and switch your current account, so you can enjoy the benefit as soon as you step off the plane."

Top reasons why using a N&P debit card overseas could be the best form of payment on holiday:

Security: Eliminates the need to travel with lots of cash, find a safe place to store it, or withdraw one large amount from an overseas ATM to minimise the impact of withdrawal fees;

Simple: One card can cover restaurant and bar bills, shopping, excursions and other day-to-day expenses, and fee-free regardless of the price of the purchase;

Convenience: Withdraw cash from ATMs as and when you need to without worrying that you will be accumulating charges every time you do so;

Flexible: No need to worry about arrangements to obtain different currencies if you are travelling to more than one country, as N&P's debit card can be used worldwide;

No post-holiday surprises: Debit card payments will come out of your account within days, not leaving you with a surprise credit card bill weeks later.