Blog Archives: tag "Card Fees"

EU Move to End Free Banking with Introduction of Annual Card Fees

As hidden fees for transactions look set to be scrapped, a report warns consumers that the cost will be passed on to them in the form of annual fees for the privilege of having a card. These fees are suspected to be as much as £11 for debit and prepaid cards and £25 for credit cards, designed to make up for expected losses of up to 2.4 Billion for banks and issuers.

These charges would effectively end free banking throughout the Eurozone,

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Credit Card Fees, Card Fees Abroad, Hidden Card Fees

Those of us lucky enough to be heading abroad for their summer holidays are likely to be hit with a collective excess cost of £327 million in credit card fees.

It’s estimated that as many as 12 million Brits will be affected by the fees, as more of us are turning to our credit cards to fund our breaks in the current economic climate.

Much of this has to do with a lack of understanding for the credit cards that we hold.

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