UK Post Office cuts currency exchange fee
The UK Post Office has announced that anyone using its credit card will not be charged the standard 2.5% cash advance fee when they purchase foreign currency from the Post Office. For those using their credit card to purchase travel money the removal of the fee could make a noticeable difference to the overall cost, the company said.
In addition to 0% on balance transfers for the first 12 months and 0% on new purchases for the first three months, the Post Office is now one of the few providers not to add commission onto any overseas purchases.
Post Office head of cards, Az Alibhai said: “Our customers love the fact that we don’t charge commission when they use their card overseas, so we are now saving them even more money by removing the cash advance fee when they use their Post Office Credit Card to purchase great value travel money from the Post Office.
“With many people still feeling the pinch this will give them a bit of extra cash in their pockets to enjoy on holiday. We are dedicated to providing customers with flexibility and value when it comes to managing their money, especially as our credit card offers a combination of benefits that they can’t get anywhere else.”
