martin lewis on travel cards

The best credit and debit cards for foreign travel

If you’re going abroad, or spending on foreign websites, getting the right plastic could save you a small fortune. Pick up a specialist travel credit or debit card and enjoy peace of mind knowing that you’re getting the best exchange rate possible for any currency in the world. Here’s our guide to the best credit cards, debit, and prepay cards for foreign travel.

Quick summary

The best debit cards to use abroad

• Kroo bank – Best for large holiday pots and fee free spending and withdrawals
• Starling Bank – The overall best bank account and debit card for overseas travel
• Chase Bank UK * – Generous ATM withdrawal limits and 1% cashback on card spending even aboard
• Monzo – Digital bank good for everyday spending in the UK and abroad. Free £5 with our link

The best credit cards for international travel

• Barclaycard Rewards – The best credit card to use abroad
• Halifax Clarity – Former top pick and still one of the best

The best prepaid smart cards for foreign spending

• Wise – The best for transfers to US
• Currensea – Generous ATM limits, works with your existing bank – £10 cashback with our link
• Revolut – The most versatile multi-currency card and account plus 3 months free premium

Before we get started though, just a little reminder that up to 5m EHIC cards expire every year. The European Health insurance card is free and entitles the holder to free or discounted medical care in 28 EU countries, plus a few others. Despite Brexit current EHIC cards are still valid. New applications will be given UK Global Health Insurance Card (GHIC). To get a new or replacement card visit the EHIC website .

In detail – What are the best debit and credit cards for spending abroad?

This year Halifax Clarity remains a top pick, but Barclaycard Rewards has leap frogged it to earn the title of the best traditional credit card for foreign spending. In terms of debit cards, Starling and Chase occupy the top spot, but Monzo which recently increased its foreign ATM limits, and Kroo are hot on their heels.

We had big hopes for First Direct in 2024, after the bank announced it was removing fees for using its debit card abroad. Unfortunately some users have experienced issues. (see below for more details)

Debit card vs credit card for foreign spending which is better?

Typically the best time to use credit cards when travelling abroad is when buying single items over £100. This could be anything from train or airline tickets to events, or hotels. This is because when buying items of over £100 and up to £30,000 you have additional protection under Section 75 of the consumer credit act , meaning the credit card provider is jointly liable for the goods/services in the event something goes wrong.

Bank account debit cards are best used on items below £100 where Section 75 wouldn’t come into play anyway, so are great for day to day spending abroad, and ATM withdrawals.

Ideally you’d have both a specialist credit card and a debit card, that way you’re covered for most eventualities and can be sure you’re getting the most for your money. Below we’ve listed some of the best cards to use abroad.

Of course not everyone can get a specialist credit card or even bank account. So we’ve also rounded up a few of the top debit pre-pay cards for travel and foreign spending. These are most useful for day-to-day spending whilst abroad, and especially for cash withdrawals from foreign ATMs.  Jump to pre-paid and other cards

The best debit cards and bank accounts for foreign travel

Kroo – highest interest rate and zero fees foreign spending.

Kroo is one of the UK’s newest digital banks and shot to prominence in 2023 when Martin Lewis recommended it as one best places to stick your hard earned savings. It just so happens, that it’s also one of the best debit cards for spending abroad too.

The Kroo current account offers 4.35% AER on deposits, meaning you can earn interest on your travel money, has no fees on foreign purchases, and no ATM fees on foreign withdrawals (until 31st October 2024).

Spending via the Visa debit card, ensures you get Visa’s realtime exchange rate, and unlike some providers there’s no additional load or fees. While many of the banks on our list offer a Mastercard debit card, Kroo’s Visa card stands out, and could make an excellent back up for those who already an account with a Mastercard, such as Starling, or Monzo.

See our full long term Kroo bank review for more, or click here to join Kroo directly .

Starling Bank – The best overall account for travel

The rise of the mobile-first challenger bank could spell the end for prepay cards as free currency withdrawals and foreign spending become the norm. At Money Saving Answers we’re championing Starling Bank as one of the best bank accounts and debit cards for foreign travel. Check out the video below by former broadcast journalist and travel vlogger/blogger,  Pommie Travels .

Starling stole a march on the competition by being the first digital challenger bank to launch its current account nationwide, and continues to impress with its well developed app and current account features. What’s more, the company is committed to fee-less foreign currency. Here’s what it says:

When we say zero fees, we mean exactly that. We won’t charge you to use your debit card abroad – and we won’t add ATM fees. Just so you’re aware: some ATM providers may charge their own fee. Great exchange rates. You’ll benefit from Mastercard’s globally accepted exchange rate…and no, we won’t add anything on top. You shouldn’t have to pay to access your money. Unlike some other travel cards, we don’t charge you to deliver your card or to top it up.

Another great feature of the Starling account is that by integrating round-ups and saving spaces you can save whilst you travel, by rounding up transactions in realtime and setting the sum aside in a savings space.

One of the benefits of Starling is that there is no monthly ATM withdrawal limit. Monzo for example only allows £200 (equivalent) cash to be withdrawn in a 30 day period. Over this it charges 3%. There’s no such charge with Starling. Instead you are only limited by a daily ATM withdrawal of £300.

Sounds great to us, and it’s not put a foot wrong in our tests. Whilst the new Chase account (see below) wins out slightly on features, Starling is the more mature product and tops our comparison as the best card to use abroad, and overall the best bank account for travellers.

To open a Starling Bank account or to find out more visit  Starling Bank

Chase Bank (UK) – Best for visiting USA

JP Morgan’s Chase bank account might be a newcomer to the UK, but is one of the oldest and largest banks in the US, with a customer base of over 50m households. This digital only account follows on the footsteps of Starling and Monzo. It is still very early days yet, but all signs point to it being a top choice when it comes debit card spending abroad, and the best card to use in America.

The key features that make this account a winner are 1% cashback on spending, 5% interest on rounded up savings, Mastercard exchange rates, and fee free ATM withdrawals.

Understanding the features

Some of the features need a little qualifying. Firstly the 1% cashback comes with a long list of exclusions, few of these are relevant for holiday makers though, so you’d be able to enjoy money back on hotels, flights, travel, restaurants, and most other day to day spending.

The 5% interest on savings, needs to be enabled in the app. This then rounds up your spending to the nearest pound, and deposits the difference in a virtual pot, where it earns interest which is calculated daily and applied monthly. After 12 months, or sooner if you wish to withdraw it. The money in this pot is moved back to your main account.

ATM withdrawals

Like Starling, Chase customers will also benefit from fee-free foreign ATM withdrawals. Chase allows up to £1,500 a month to be withdrawn at ATMs whilst abroad. It also goes one further in allowing customers to use Chase ATMs in the US for free.  A great way to avoid ATM fees over there, which can often be up to $5 a time and otherwise difficult to avoid.

That perk itself makes Chase the best debit card for use when travelling to USA.

Eligibility

To open a Chase account you will need to be over 18, a UK resident, and provide proof of ID. There should be any credit checks.

>> Check out our account review

Unlike its digital competitor Starling, Monzo started life as a pre-pay travel card. At the time, it was considered the best prepay option. The prepay card was always just a beta trial until the bank could roll out its current account.

Now that it has done so, and new cards have been issued to those who’ve upgraded, Monzo has taken the disappointing decision to start charging for foreign ATM withdrawals.

Fee free ATM withdrawals were increase in November 2023 to £400 or equivalent per day in the UK and EEA. Previously they were limited to just £200 per 30 days, after which a 3% free was charged. The the £200 limit will still apply outside of the EEA.

Point of sale spending is still free. The ATM fees had seen Monzo drop down our pecking order a little, but with most purchases now being made via contactless or mobile, it’s unlikely you’ll need to withdraw more than £400 (equivalent) from an ATM abroad.

Monzo also has a number of paid accounts, such as Plus, and Premium. Premium in particular might be worthwhile for some travellers, as for a price, it includes family travel insurance, mobile insurance, and increased ATM limits. See our full breakdown of Monzo Premium for more information.

In our opinion it’s a good but not exceptional no-fee debit card for travel. It’s still great for everyday banking in the UK and occasional travel abroad, but is beaten by Chase and Starling on ATM withdrawal limits.

If you open a Monzo account using our link you’ll get a £5 bonus so long as you sign up and use your Monzo card at home or abroad within 30 days.

First Direct

On 28 June 2023, First Direct dropped the 2.75% foreign exchange fee and additional 2% non-sterling cash fee for foreign ATMs. The move initially catapulted First Direct from being one of the debit cards from hell, to one of the best for spending abroad.

The new rules apply to new and existing customers, who will now enjoy near perfect exchange rates, and a £500 equivalent daily ATM withdrawal limit.

Although some of the more specialist overseas travel cards can work out marginally cheaper, for those that don’t want open more accounts, First Direct is a top contender, and is backed by award winning customer service. Those moving to First Direct can also enjoy a £175 switching bonus (see our article on bank account switching for more).

It’s important to note, the removal of fees only applies to the First Direct debit card. Its credit card still remains an expensive choice for travel, and is not recommended.

Our thoughts

First Direct’s surprise announcement to scrap all fees for cash withdrawals and foreign spending on its debit cards would makes it one our top picks for foreign spending. Unfortunately, we’ve recently heard of people having their cards blocked when travelling abroad due to anti-fraud measures.

This is something that used to be common with traditional banks many years ago, and with some you’d have to tell them you were going abroad before you left. It’s disappointing to see that First Direct hasn’t learned from this. Particularly when digital banks such as Starling make spending abroad so easy.

Virgin Money M and M:Plus account

The M Plus is Virgin’s standard current account, whilst the Virgin M account is a more basic account. That means it’s super easy to open, and crucially just like the M Plus, offers fee free foreign spending and ATM use worldwide. Actually, we couldn’t really find much difference between the two other than the fact the M Plus pays in credit interest.

Both accounts offer a Mastercard debit card that can be linked to ApplePay and GooglePay and used for fee free ATM withdrawals worldwide, and both are managed via Virgin’s updated banking app.

The M account can be opened with little or no credit history, and non-standard ID is accepted for the application. As such great for international students, or those who’ve recently moved to the UK and might have difficulty otherwise validating their address.

Like the Club M, and Plus accounts. The regular M account also comes with a linked 2.52% AER savings account. Whilst this can be beaten elsewhere, it makes a handy space for customers build up their holiday funds. It’s worth noting though that interest is paid quarterly, so depending on when you withdraw you may lose out.

HSBC Global Money Account

We have a full overview of the HSBC Global Money Account so won’t go into too much detail here, but it’s essentially a multi currency account exclusive to HSBC current account holders. It’s still in its early stages but the account does show some promise.

It’s free to open, and doesn’t have any no on-going subscription fees or charges. There’s also no fees for ATM withdrawals, or sending payment in foreign currencies. Even the delivery of the card is free.

It also comes with a generous £500 or equivalent daily ATM limit, and a £50,000 transfer limit. Making it one of the best cards for those who like to carry cash or who need to make electronic payments abroad.

Customers can hold funds in some 18 popular currencies including pounds, euro, US dollars, Australian dollars, NZD etc.. card transactions use the VISA daily rate. If manually transferring or exchanging between currencies HSBC does add a mark up, but this is typically less than that seen with Revolut or Wise. Additionally, there is a 1% mark up on currency exchanges when the markets are closed.

As it’s only available to HSBC customers, we can’t include it in our top three current accounts and debit cards but for current customers, or those thinking of switching to HSBC (to take advantage its £200 switching bonus), the Global Money Account comes close to matching the best.

Metro Bank – The best highstreet bank for euros (only)

One of the pre-digital challenger banks, Metro has always faired kindly when it comes to foreign spending. The standard current account doesn’t have any fees at all for using the debit card at the point of sale or for ATM withdrawals whilst in Europe (EU).

The account can now be opened online via the Metro Bank app (previously is was only available in-store), but you’ll need smartphone or tablet with a camera in order to take a self-portrait during the application process.

Beware though, that outside of Europe Metro charges You’ll pay a hefty 2.99% non-sterling transaction fee, and a £1.50 fee for using ATMs, as such it has fallen down our list. Current Metro Bank customers travelling outside of Europe would be better served by picking up a Revolut or a Currensea account (see below for more)

>> Open a current account with Metro Bank

The best credit cards for travel

Barclaycard Rewards

The absolute cheapest credit card for overseas spending.

The Barclaycard Rewards credit card is our new top pick for spending abroad in this category thanks to its 0.25% cashback on spending, and no fees on spending online, at the point of sale, or for ATM withdrawals.

Also it doesn’t charge any interest on overseas spending or withdrawals as long as the balance is paid off in full. This makes it the absolute cheapest way to spend spend on holiday, and being a credit card rather than debit card you benefit from Section 75 protection on purchases. Overall, the Barclaycard Rewards is the best card to use abroad full stop.

22.9% APR Representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)

Halifax Clarity

Still one of the best credit cards to use abroad.

A top pick for years, the Halifax Clarity is probably the most well known specialist travel credit card, and our choice as the best credit card for foreign travel. There’s no foreign transaction fees, commission, nor fees for cash withdrawals. What’s more, you get the Mastercard wholesale exchange rate, which tends to be ever-so-slightly better than VISA’s rates.

The card does charge interest on cash withdrawn abroad at 19.9% (21.9%-25.9% for poorer credit scorers), but this amounts to just £1.50 per £100 spent. This is only charged until you’ve repaid the balance, so you can minimise this paying it off as you go along.

Interest isn’t charged on point of sale purchases abroad provided you clear the balance by the end of the statement date.

Halifax are currently running a promotion (for applications before 29th August) offering £20 cashback on your first purchase with the card.

19.9% APR Representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% p.a. (variable)

The best prepaid travel card and smart cards

Specialist travel credit cards, and bank accounts are all well and good, but what if you’re happy with your current bank, and don’t want the hassle of opening a new account. That’s where prepaid travel cards and accounts come in. These are quick to open, there’s no credit checks, yet still offer great rates for international spending.

Wise (formerly Transferwise)

Wise  is a multi-currency account specifically aimed at travellers, digital nomads and those needing to transfer money across borders.

Founded in East London, it grew to prominence as a money transfer service previously known as Transferwise, but it’s the Wise Multi-currency account that will be of interest to holidaymakers and travellers.

The account is free open, and comes with account numbers, sort codes, IBANs, and routing numbers for UK, Eurozone, US, Australia, New Zealand and a number of other countries. Unfortunately it costs £5 to order the debit card which immediately wipes out some of the advantage of using the account over the short term. And while spending online or at the point of sale is free if your account holds that currency. If you need to exchange currencies for example Sterling to Euros there is small fee. Up to two ATM withdrawals are free up to £200 after that fees kick in similar to Monzo and Revolut.

Despite offering many of the same features as Revolut above, the Wise account can be a little more complicated to use and its fee structure makes it a more expensive option. Probably why Wise is more popular with US travellers and those in countries that can’t open a Revolut account. That being said it never hurts to have a back up.

• £5 ordering first debit card
• 0.35% conversion fee on popular currencies e.g. Euro, USD, (higher on less popular ones)
• 1.75% fee card fee if withdrawing more than £200/month
• 50p card fee if making more than two ATM withdrawals a month

There’s no fee to open the account and no credit checks, but you will need to be over 18 and have proof of address and ID.

>> Get a Wise Multi Currency account

Revolut  is a mobile app, that came hot on the heals of the ill-fated Travelex Supercard. It was slicker and more user friendly than the competition, and is still adding new features and functionality. You can use the Revolut account to pay for online purchases without the actual card, but best to order a physical card and test it a little before your travel.

Like traditional prepay cards the Revolut account first needs loading with currency. You can do this via ApplePay/Android pay, bank transfer or credit/debit card. Loading is done in pounds, dollars, and euros and you are able to convert between the three instantly from within the app. Spending is not limited to these currencies though. All in all there are 90 currencies you can spend in, and receive the Mastercard exchange rate.

Speaking of rates, when using the card on a trip to Ireland, I noticed that the exchange rate listed in the Revolut app, was actually better than those shown on XE.com . Additionally, Revolut is one of the few accounts that continued to allow its customers to trade during the volatility and currency fluctuations caused by the Brexit vote.

ATM fees kick in

It’s almost sounds too good to be true right? Revolut changed its terms and conditions since the original launch, and now only allows £200 per month free from ATM, and charges a 2% fee for any withdrawals over that. that’s £20 per every £1000 withdrawn over and above the first £200. Customers have the option of signing up for Premium £6.99 per month, and Metal, £9.99 per month. These allow fee-free ATM withdrawals up to £400, and £600 respectively, as well as host of other benefits, such as medical/travel insurance, priority support, and even cashback (Metal only).

Overall the standard offer is still a great card, but due to the low fee-free ATM limits we prefer Starling. Your usage of course might vary though and it’s a great card as a backup, and if you can make use of the insurance and higher spending limits, Metal is a good product.

Visa travel card

It’s worth pointing out that main physical Revolut card is now a Visa. When travelling it’s always good to have both Visa and Mastercard, as sometimes (though rarely) one is accepted where the other isn’t. This actually happened to me on recent trip. A fuel station I stoped at didn’t accept Mastercard, so my Revolut Visa card came to the rescue. Of course the inverse can also be true, and I’ve eaten at restaurants that didn’t accept Visa but did accept Mastercard.

If you open an account via our link below, you’ll get 3 month free premium, which includes free travel insurance. So time it right and you’ll end up saving there too. We have a full long term review of the Revolut account in case you wish to dig a little deeper.

>> Get Revolut

Curve is an all in one smart card that acts as a layer between your regular debit and credit cards and the seller. You link your existing cards to it via the app, then use the Curve card to spend abroad. Curve converts this spending into pounds in realtime, and charges your regular bank card. This particularly useful for those with ‘debit cards from hell’ i.e card issued by banks such as Natwest, Barclays, TSB etc.. that add fees and/or markup when spending abroad.

Fees and allowances

Curve’s free plan allows you to add up to two cards, and offers fee free foreign spending on the first £1,000 (equivalent). ATM withdrawals are capped at £200 a month, and there is a £2 or 2% fee for exceeding this, so try to stay below that. In addition, there’s also a 0.5% markup on spending during weekends (as the FX markets are closed), rising to 1.5% for more exotic currencies.

Curve’s paid plans increase these limits to £2,000 monthly spending with Curve X (£4.99 a month), and unlimited spending with Curve Black (£9.99 a month). Curve Black also ups the ATM limit to £400.

£10 cashback plus free travel insurance

Ordinarily such fees and limits would see Curve excluded from our list, but for the fact there is nifty little trick to get Curve Black for free, and in doing so also gaining free travel insurance. In addition, if you sign up to Curve via our links, you’ll also get £10 cashback on your first £150 spend. See our Curve card review for full details .

Currensea (smart card) – Best for those with traditional bank accounts

Unlike standard prepaid cards, or credit cards, Currensea works as a layer on top of your existing bank card to offer you great rates on foreign spending. That means if you’re happy with your current bank account you don’t need to change it.

Simply add your card to the Currensea app and start spending with the Currensea card. The foreign payment is charged to your Currensea account which then in turn charges your UK bank card in pounds, thus avoiding any fees from your bank.

It currently works with most popular UK bank accounts including Barclays, Lloyds, Natwest, TSB, Santander, HSBC, RBS which are some of the worst offenders for charges on foreign card use.

Opening an account is free. In our tests it took less than 5 mins, and a card was delivered within 4 days.

Currensea uses the interbank exchange rate for currency conversions, and earns its money by adding a 0.5% load onto this rate. That makes it ever-so-slightly more expensive than a bank account such as Starling, but cheaper some specialist credit cards, and miles cheaper than using a standard debit card from a high street bank.

What pushes Currensea to the number one spot in this category though is the generous £500 a month fee free ATM withdrawals. Whilst Monzo and Revolut have steadily tighten up on ATM withdrawals over the years, this remains up there with Starling, and Chase as one of the best cards to withdraw cash from foreign ATMs, and the best card for spending abroad for those that want to use their existing bank account.

>> Get a Currensea travel card

How to maximise your spending power abroad

Whether it’s a relaxing two week holiday, or a city break, it’s all too easy to be a bit too frivolous with your cash aboard. If you already have one our ‘top pick’ specialist travel cards listed above, then you’re are to a winner, but there are few other little tricks that can help you stretch for holiday money a little further.

Never change money at the airport – Sometimes you just need/want to carry cash. If so be sure not to change it at the airport. You’ve left it too late, they’ve got you over a barrel and they know it. You’ll be lumbered with the worst rate, and that’s no way to start a holiday. If you absolutely must change money at the airport, ferry terminal, or train station, always pre-order. You can usually do this up to four hours in advance and you’ll enjoy a better rate. Instead try to leave yourself plenty of time to change money. That way you shop around for the best rate.

Get the right credit card and enjoy the cheapest rates – most credit card providers add roughly 3% to the exchange rate they get when changing money themselves, this is called loading. None of the cards above load so any of those listed above are a safe bet.

Highstreet Debit cards are the worst offenders – While many credit cards load, nearly all debit cards load and charge a £1.50 per transaction. The worst offenders are: Barclays, Lloyds TSB, Halifax, RBS, Co-op, Santander and NatWest. Avoid using these cards abroad. If you want to use your Highstreet bank current account, consider getting a Currensea Card to avoid charges from your bank.

Always pay in the local currency – Many overseas ATMs, restaurants, and shops will ask you if you’d like to pay (or withdraw) in pounds, when using your credit/debit card. If you pay in pounds, what happens is that the retailer does the currency conversion for you. Rates are almost always worse than letting your own lender do the conversion. ALWAYS always pay in the local currency. This trick is used extensively in Spain and can be a nice little earner the banks/retailer.

Don’t ‘buy’ cash on a credit card – Almost all credit cards charge a fee for withdrawing cash (Halifax Clarity, and Creation excluded), even if you repay in full. Buying foreign currency from a bureaux de change, even if it’s online, will count as a cash withdrawal. Use one of our top recommended debit cards instead, or a smart card such as Currensea.

Pre-order physical currency – The credit, debit, and pre-paid cards in our list are absolute cheapest way to spend money abroad. If however, you feel the need for physical currency, then always order it in advance to get the cheapest rate, even if you need it in a hurry. Many bureau de change allow pre-ordering as little as 2 hours before collection. See our guide on getting euros from the Post Office for more information.

Spain and Portugal – In some countries ATMs charge for withdrawals. This is nothing to do with your bank, but solely down the owner of the ATM. Machines in Spain and Portugal are terrible for this. In Spain always look for a ING or Deutsche Bank machines these are free. In Portugal, use the MB ATMs outside Post Offices. Never use Euro ATM, or Santander. These have some of the highest chargers around.

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Martin Lewis reveals best cards to use abroad

17 August 2023, 11:54 | Updated: 17 August 2023, 12:22

Which debit or credit card should I use when going abroad? Here's what Martin Lewis says.

Listen to this article

Martin Lewis has revealed the best cards to use while travelling abroad.

The Money Saving Expert has previously explained that the cheapest way to spend abroad is to "use the right plastic" to avoid spending charges and ATM fees.

He suggests people opt for a specialist card that doesn't add a non-starling transaction fee onto of your spending.

• Listen on Global Player: Spencer & Vogue. Spencer Matthews and Vogue Williams let you know what they’re doing, thinking, and disagreeing on every week

But what is the best card to use while abroad? Here's what Martin Lewis' Money Saving Expert website says...

What card should I use abroad?

Martin Lewis encourages people to choose a debit or credit card which does not charge a non-sterling transaction fee.

This can make your holiday spending a lot more expensive. For example, some banks will charge up to 3% when you make a transaction abroad.

This means if you spent £100, you'd be charged £103.

Best debit and credit cards to use abroad:

Chase (Debit)

• Gives 1% cash back on most spending for at least a year
• Easy credit check
• No transaction fees abroad
• Free ATM cash withdraws abroad

Barclaycard Rewards Card (Credit)

• 0.25% cashback
• No transaction fees

First Direct (Debit)

• Free £175 when you switch from an existing bank account

Worst cards to use abroad

The Money Saving Expert website also reveals the cards you want to avoid using abroad at all costs.

• £1 spending charge
• 1.5% ATM charge (min £2, max £4.50)

Bank of Scotland

• 50p spending charge
• £1.50 ATM charge

Lloyds Bank

• Martin Lewis issues urgent warning to drivers renewing their car insurance
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Independent TV

Showing now | news.

Oliver Browning | Thursday 22 June 2023 10:14 BST

Martin Lewis reveals which debit cards will charge you more abroad

Martin Lewis has revealed which credit cards will charge higher rates outside of Europe .

Speaking on his ITV show, the MoneySavingExpert revealed his “outside Europe debit cards from hell” that charge when you spend on them outside the continent.

Bank of Scotland, Halifax , Lloyds and TSB cards all charge an additional fee to the 3 per cent exchange rate fee.

“You’d just be better to put it on a bog-standard credit card paid off in full, than using the debit card. People tend to think ‘debit better than credit’. But not in this case when spending abroad,” Mr Lewis explained.

“If you’ve got one of those cards, beware.”

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Martin Lewis explains best way to spend money abroad - Chase bank card to using cash

As Brits are soon to start embarking on their summer holidays, Money Saving Expert Martin Lewis has revealed the best ways to spend money abroad, which can cut the cost of your holiday

• 15:56, 25 May 2022
• Updated 15:57, 25 May 2022

Summer is quickly approaching, and that means that many people across the UK are planning to catch a break by heading abroad.

But summer holidays can be costly, and with the cost of living crisis biting, families this year will really be looking to cut spending wherever they can.

Luckily, Martin Lewis has us covered as he makes a welcome return to TV.

During an hour-long special of The Martin Lewis Money Show, the trusty Money Saving Expert has explained how you can save money abroad by choosing the best way to spend it.

Here’s everything you need to know about Martin’s holiday spending tips.

The best bank cards to use abroad

During the show, Martin Lewis explained to viewers that the best way to save money abroad is by using a credit or debit card.

But Martin stressed that you need to choose the right card in order to avoid "paying to pay" while on holiday.

He showcased three types of cards that are the best for those travelling abroad:

• Chase debit card
• Halifax Clarity credit card
• Barclaycard Rewards credit card

All three cards don’t have exchange rate fees, and there’s no interest on spending as long as you pay in full.

Martin said that out of the three cards, the Chase debit card takes the top place as the best to use abroad, offering 1% cash back on purchases made.

Should you use cash when on holiday?

In the growing digital economy, cash may seem like a thing of the past, but many travellers are still opting to pay in cash when they go abroad because it’s a simple way to spend.

Martin explained that using cash is still a good way to spend money abroad, but warned that Bureau de Change cash rates are often beaten by debit and credit cards.

If you do opt to use cash, Martin advised never to exchange cash at the airport and to always use a travel money comparison site to search for the best rate.

Should you withdraw money from ATMs while abroad?

When it comes to using ATMs abroad, Martin had some important advice.

He warned viewers that cash machines in other countries can often have high usage fees and exchange rates.

To help viewers understand how to use cash machines abroad, Martin recorded a segment in Malaga, in which he attempted to use different cash machines to withdraw €200.

The target price for the withdrawal was £169, but Martin showed viewers that you can easily spend much more than that with unnecessary fees.

He said: "The first thing to watch for — is there a fee for using the cash machine?"

Some machines can charge up to €4 for a withdrawal, so it’s worth looking around for one that doesn’t have a usage charge.

Martin continued: "Next, the big one — what exchange rate will they try to charge you?"

Cash machines abroad can charge huge exchange rates, but Martin revealed that there’s a simple way to avoid this.

"You do not want this machine to do the conversion for you, you want your card company at home to do the conversion because, even if it's not a good card, it's at a better rate."

In total, the €200 withdrawal cost Martin £169.20 but it could have cost up to £191 using the machines' rates.

As a final piece of advice for travellers, Martin said: "Do not pay to pay. When you go into a shop when you go to a cash machine and it says 'Do you want us to do the conversion for you' — no, no, no.

"Pay in the local currency."

MORE ON Martin Lewis Travel money

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• Prepaid Cards >
• Travel Prepaid Cards

Compare our best prepaid travel cards

Simplify your spending abroad with a prepaid travel card, find a prepaid travel card, what is a prepaid travel card.

A  prepaid travel card , also known as a 'travel money card', is  a debit card that you preload with money  and take on holiday. It's a good way to stick to your holiday budget and avoid carrying a lot of cash. 

Prepaid travel cards  can be used at cashpoints, in shops and restaurants , or anywhere that accepts Mastercard or Visa debit or credit cards.

However, a prepaid travel card is  not the same as a  credit card  for two key reasons:

You can only spend the amount you have put on the card; the pre-loaded limit prevents you overspending and getting into debt 

You can choose which currency to preload your travel money card with depending on where you're going, which often means you can secure a better exchange rate

Pick a card with fees that suit how you plan to use it, e.g. choose one with no withdrawal fees if you'll be withdrawing cash often while travelling.”

What are the different types of prepaid travel cards?

Multi-currency prepaid cards.

These can be loaded with several different currencies , making them ideal for both frequent travellers and those taking trips to multiple destinations. For example, you holiday in Europe but often visit the US on business, you could use a prepaid travel card to cover your everyday spending wherever you are by topping it up with say £600 then exchanging £200 into euros and £200 into US dollars. The different currencies will then be stored in separate “wallets” , allowing you to switch currencies when you like.

Sterling prepaid cards

These can be used at home and abroad , making them even more flexible than the best travel cards offering multiple currencies. You don’t need to worry about setting up a wallet for the currency you want to use; the card provider simply converts your pounds to the required currency each time you make a purchase . However, this can make holiday budgeting harder and may increase your costs, depending on the charging structure.

Euro prepaid cards

As well as multi-currency cards, you can take out prepaid cards designed to hold a specific currency . This can work out excellently if you're trying to lock in a good rate now by loading your euro prepaid card, but if you then use the card to buy things in a country that isn't in the eurozone. That's because if you spend in a country that does not use the euro, it converts to the local currency each time you make a purchase, which can work out more expensive.

Prepaid US dollar cards

These keep your balance in dollars . If you spend in countries that use a different currency, the card will exchange your dollars to the local currency, and you might well be charged a fee. The currency exchange takes place as soon as you load your card . If the pound strengthens afterwards, you won’t be getting the best value for money, but it if weakens you'll do well.

How to get a prepaid travel card

Compare cards.

Use our table below to find prepaid travel card that offers the features you need with the lowest fees

Check your eligibility

Make sure you fit the eligibility criteria for your chosen travel money card and can provide the required proof of ID

Apply for the card

Click 'view deal' below and fill out the application form on the provider's website with your personal details

What are the eligibility requirements?

Anyone can get a prepaid travel card. There's no need to have a bank account, and  no credit checks are required . Some providers have a minimum age of 18, but many will let you have a prepaid card from the age of 13 with parental consent. 

Sometimes parents like to use travel money cards to give their children a set amount of  holiday money , and to help teach them about budgeting and financial responsibility. 

Pros and Cons

What exchange rate do you get.

Exchange rates vary over time depending on what is happening in the wider economy. That means the exchange rate you get on a US dollar travel card today, for example, might not be the same as you get tomorrow or next week.

What prepaid cards offer is the ability to lock in today's rate to use later on. That could see you better off if the pound weakens, but might also mean you get a poor deal if the pound strengthens.

That offers is certainty - you'll know exactly how many dollars, euros, lira or whichever currency you load onto the card you have to spend on holiday.

Today’s best exchange rates

At what point is the currency exchanged with prepaid travel cards.

Some prepaid travel cards hold the balance in pounds sterling. These convert the required amount to the local currency every time you spend on them .

The exchange rate isn’t fixed, so you’ll only know how many pounds you have on the card - not what it will buy you while overseas.

But the cards in our comparison table convert your money when you add it onto the card. This means you know the exchange rate used and your card's exact balance before you go away.

Compare the rates before you choose a prepaid card. Although rates can change several times a day, some travel cards will be more competitive than others.

Using a card with competitive exchange rates will mean you get more local currency for your pound.

You also need to watch out for fees as well as withdrawal limits when choosing a card, as these can vary between providers.

What are the alternatives to prepaid travel cards?

Travel credit card.

A travel credit card works just like a regular credit card, with which you can make purchases by borrowing money. The main difference is that travel credit cards don't charge foreign transaction fees for spending abroad. 

Travel money

For many people, cash is the most comfortable form of payment when travelling. It's hassle-free and universally accepted. But it’s riskier, as you'll lose out if it’s lost or stolen and you’ll need to budget carefully to ensure your foreign currency lasts the length of your trip. 

Travel debit card

These days, there are plenty of specialist banks and providers that offer bank accounts that don't charge foreign transaction fees when used abroad. This offers you a chance to take advantage of the best exchange rates. And if it's your main current account, you won't have to worry about topping up your account before you go.

What other costs or fees are there with prepaid travel cards?

As well as the exchange rate, you might have to pay several other charges on your prepaid travel card.

These could include:

A fee to buy the card

A monthly or annual fee for keeping the account open

Cash withdrawal fees

Transaction fees when you pay for anything on the card

Inactivity fees

Loading fees when you add money onto the card

Some cards also charge fees for withdrawing cash or making purchases inside the UK .

But some of the cards in this comparison do not charge fees in countries that use currencies loaded on the card - just make sure the right one is selected before spending on them.

Check carefully for fees before you pick one.

Read our full guide on how much it costs to use a travel prepaid card and how to choose one .

"With multi-currency cards, check you've selected the right currency before you arrive."

How long does it take to get a prepaid travel card?

You can apply online and get a decision immediately. However, it can take up to two weeks before your card arrives in the post.

Can I use any prepaid card abroad?

Yes, you can use prepaid Visa or Mastercard cards in most destinations worldwide.  Travel prepaid cards  are usually cheaper to use overseas than a standard credit or debit card. 

Can I withdraw cash abroad?

Yes, you can use a travel money card in a cash machine outside the UK. Some cards  charge fees  for this, so always check if you want to use your prepaid travel card to make cash withdrawals.

What currencies can my card hold?

All the travel money cards in our comparison can hold a balance in popular currencies such as euros or dollars, while some support more than 50 different currencies.

Can I make international payments?

Yes, some providers let you send or receive money from abroad by logging into your online account, which works in the same way as standard internet banking.

Who sets the exchange rate?

This depends on the company that processes the transactions. Typically, it’s down to  Visa or Mastercard , as well as your card provider, which may take an additional cut.

Can I use my prepaid card in the UK?

You can use prepaid cards to withdraw cash or buy things in the UK or online. However, you may pay fees or even an exchange rate if your card is loaded with a foreign currency.

Explore our prepaid card guides

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The top credit cards for foreign travel

T he cheapest way to spend money abroad, and to get cash from an ATM, is to use a credit rather than a debit card, says money guru Martin Lewis of MoneySavingExpert.com. But be extremely careful which credit card you use.

For regular travellers, the best cards are the Halifax Clarity (top pick); Post Office Platinum; Santander Zero; Saga Platinum (over-50s only); and Nationwide's Gold Card – if issued before February 2011. Most others add 2.5%-3% to foreign exchange transactions. The cards above don't apply this "loading", meaning you get a "perfect" exchange rate – beating even the best bureau de change.

All the cards on the list, bar Nationwide Gold, allow load-free transactions worldwide. Nationwide gives load-free transactions only in Europe – a 1% fee applies elsewhere.

Lewis says there are a few caveats. You have to pay off the balance each month in full. Users of the Halifax Clarity and Santander Zero cards get free ATM transactions – the others pay a small fee. You will pay interest on the cash advance, but this will usually be less than the costs of loading a debit card.

One reader contacted us to say she avoids paying interest by pre-loading her Post Office credit card with cash before she goes – though Lewis says most card providers prohibit this. The Post Office says it outlawed the practice last October.

If you still like to take a wad of cash, check rates at travelmoney.moneysavingexpert.com . This will tell you which firms are doing the best deals, with links. The London Waterloo branch of ICE usually offers the best rates if you print off a voucher before you go.

Lastly, if you live abroad for even part of the year, consider switching your bank account as this could save you a small fortune in exchange charges. The Norwich & Peterborough building society offers fee-free purchases and no ATM charges for Gold Classic account customers using their debit card abroad. Nationwide used to offer the same deal but scrapped it in 2009, greatly upsetting many of its customers at the time.

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Whether you just graduated from high school or you’re an established professional in need of a new bank, it’s important to find the right fit for your needs.

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If you don’t have much experience managing a bank account, we recommend Citibank Access Checking. It doesn’t come with paper checks, so you don’t have to worry about balancing your checkbook. However, it does come with a debit card and other helpful account features, giving you a chance to learn how to manage your finances responsibly.

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Citibank Access Checking: Pros and cons

Discover Cashback Debit Checking: Best for cash back

We love the Discover Cashback Debit Checking account for giving customers 1% cash back on all qualified debit card purchases. Every time you use your card, you have the potential to earn 1%, making it easier to reach your financial goals. Note that you only earn 1% on the first $3,000 worth of debit card purchases per month. If you spend more than $3,000, you won’t earn any cash back on the overage.

Discover Cashback Debit Checking: An overview

Discover Cashback Debit Checking: Pros and cons

PenFed Credit Union Access America Checking: Best for digital experience

The PenFed Credit Union Access America Checking account is best for consumers who want to use a credit union without sacrificing their digital experience. This account comes with a variety of tools to help you manage your finances, such as a full-featured mobile application that eliminates the need to visit a branch for most banking issues.

PenFed Credit Union Access America Checking: An overview

PenFed Credit Union Access America Checking: Pros and cons

Quontic High-Interest Checking: Best for security features

Quontic High-Interest Checking is ideal for security-conscious consumers looking for extra protection. This online bank offers the Quontic Pay Ring, which allows you to “swipe” your ring instead of swiping a debit or credit card. Quontic also lets you lock your debit card any time it’s out of your possession.

Quontic High-Interest Checking: An overview

Quontic High-Interest Checking: Pros and cons

SoFi Checking and Savings: Best for linking bank accounts

SoFi doesn’t offer separate checking and savings accounts. Instead, when you open a checking account, you also get a savings account, making it easier to reach your financial goals. To make saving as painless as possible, SoFi also rounds up every debit card transaction and deposits the extra money in your savings, making it a great option if you’re looking for a joint checking account .

SoFi Checking and Savings: An overview

SoFi Checking and Savings: Pros and cons

A checking account is a deposit account used to pay bills and make other financial transactions.

When you deposit money in a checking account, you can use it to:

• pay bills online
• write checks
• withdraw cash at ATMs
• make purchases with your debit card

How much you keep in your checking account depends on your personal needs. For example, if you use your debit card frequently, or if you write several checks per month, you may need to maintain a balance of several thousand dollars.

To open your own account, you generally have to be 18 years old. However, many banks offer teen checking accounts to give teenagers experience managing money with the help of a parent or guardian.

Alternatively, you may be interested in a business checking account , such as the Bluevine Business checking account . These checking accounts help you keep your personal and professional finances separate and can be used to pay your vendors and receive payments from clients.

Pros and cons of checking accounts

• Convenient access to your funds via check or debit card
• Ability to pay bills directly from your account
• Online account statements to help you track your spending
• Provides access to direct deposit
• Many banks charge fees to maintain a checking account
• You may need to maintain a minimum balance to avoid service fees
• Some checking accounts don’t earn interest

You may encounter these types of accounts in your research:

• Traditional checking: A traditional checking account is the most basic type of account available. Once you deposit money, you can write checks, withdraw cash at ATMs or use your debit card to make purchases.
• Student checking: Many students don’t earn enough to meet the minimum balance or direct deposit requirements for other types of checking accounts. Student checking accounts typically have low or no fees, along with limited account requirements, making it easier for students to access banking services.
• Interest checking: An interest-bearing checking account allows you to earn interest on the money you deposit.
• Premium checking: If you have a large amount of money to deposit, you may qualify for a premium checking account, which typically comes with additional features.
• Rewards checking: A rewards checking account gives you extra perks when you meet certain criteria. For example, some accounts offer cash back when you use your debit card to make a qualifying purchase.

Before you open an account, make sure you compare several banks to determine if each one offers the services you need. 

As you review your checking account options, consider the following criteria.

Many banks have minimum balance requirements, which require you to keep a certain amount of money in your account to receive certain benefits. If you don’t, you may have to pay a monthly service fee, or you may lose the opportunity to earn interest. It’s also common for banks to have minimum deposit requirements.

A checking account should make it easier to manage your finances, not more difficult. Before you choose a bank, make sure you know how much it costs to maintain an account. 

Watch for these fees:

• Monthly service fee: The monthly service fee is how much it costs to keep your account open.
• ATM fee: If you use an ATM outside your bank’s network, you may have to pay two separate fees. One fee is charged by your bank, while the other fee is charged by the ATM owner.
• Overdraft fee: Many banks charge a fee any time you have an account overdraft. Also known as insufficient funds fees, overdraft fees can add up quickly, so it’s important to avoid them as much as possible.
• Foreign transaction fee: If you travel overseas, you may have to pay a foreign transaction fee every time you use your debit card.

APY stands for annual percentage yield. It represents the interest rate on your checking account based on a one-year compounding period. The higher your APY, the easier it is to earn interest on your balance.

Digital experience

Before you choose an account, be sure to review the digital experience offered by each financial institution. You should be able to transfer funds, download statements and access other features online. Many banks also offer budgeting tools and other resources to help you better manage your finances.

Customer service

If you have a question, you shouldn’t have to go through three layers of AI chatbots to get an accurate answer. When you research a bank, make sure you find out what type of customer service it provides (e.g. phone, chat, etc.), when it’s available and how long it typically takes to get a response.

Your bank should offer plenty of security features to protect your money. Before you open an account, make sure your preferred bank offers fraud alerts, industry-standard encryption and other features designed to stop thieves in their tracks.

The best checking account for you depends on your personal needs.

If you just need a place to receive direct deposits, you may not care too much about bill pay and other account features. If you want to be more involved in your finances, however, you may want access to a full-featured mobile application, credit monitoring and other tools to support you on your journey.

When comparing the best banks for checking accounts, look for the following:

• Convenience: If you’re looking for the best bank to open a checking account, you need to consider convenience. It’s not convenient to drive 20 minutes to a branch to make a simple transaction, so you may want to look for a bank with locations near your home or office.
• Digital features: The best banks offer plenty of digital features, eliminating the need to travel to a branch or stop at an ATM every time you want to check your balance or complete a transaction.
• Overdraft protection: We don’t recommend overdrawing your account, but if you make a mistake calculating your balance, it’s nice to have overdraft protection.
• Account security: Your bank should offer multiple security features, such as multifactor authentication or biometric access, to give you extra peace of mind.

You can get a checking account at any of these places:

Traditional banks:

Brick-and-mortar banks offer a variety of checking accounts, making it easy to manage your expenses.

Online banks:

Some banks are online-only, which means they offer plenty of digital features to help you manage your money.

Credit unions:

Credit unions offer some of the same services as banks, but they’re nonprofit organizations owned by their members.

Although the application process varies slightly from one financial institution to another, you typically have to follow these steps:

• Fill out an application. If you don’t mind visiting a branch, you can do this in person. Otherwise, the bank may allow you to complete an application online. If you decide to visit a branch, make sure you have proof of identity (e.g. driver’s license) and proof of residency (e.g. current utility bill, current lease) with you.
• Pay your opening deposit, if your bank requires one.
• Start using your account.

For some people, having two checking accounts is better than having just one.

One of the benefits of maintaining multiple accounts is that you can take advantage of special offers at different banks. Having more than one account is also helpful if there’s a problem with your main bank.

Checking and savings accounts share some features, but they have different purposes.

A checking account is designed to give you quick access to your money. You may be able to withdraw cash at ATMs, write checks or use a debit card to make in-person and online purchases. The purpose of opening a savings account is to save money for the future.

Which bank is the best for checking accounts?

It really depends on your financial needs and personal preferences. If you use your debit card frequently, you may want to open an account with a bank that offers cash back on all qualifying debit card purchases. If you’re more concerned with earning interest on your deposits, you may want to prioritize finding a bank with a high APY.

Do checking accounts earn interest?

Some checking accounts are interest-bearing, which means you earn money on your deposits. For example, you can earn 1% APY with Amex Rewards Checking .

How do I get a checking account bonus?

It depends on the terms of the bonus offer. Some bonuses require you to receive a monthly direct deposit or maintain a minimum daily balance for a certain period of time.

Are checking accounts safe?

Yes. Checking accounts are insured by the Federal Deposit Insurance Corporation, so you won’t lose your money even if a bank fails. FDIC insurance covers up to $250,000 per account holder.

How many checking accounts can I have?

Technically, you can have as many checking accounts as you want.

Will a checking account affect my credit?

Opening a checking account does not affect your credit. However, if you overdraw your account and fail to correct the deficiency, your bank may send the debt to collections.

Leigh Morgan is a seasoned personal finance contributor with over 15 years of experience writing on a diverse range of professional legal and financial topics. She specializes in subjects like navigating the complexities of insurance, savings, zero-based budgeting and emergency fund development.

In the last 5 years, she’s authored over 300 articles for credit unions, digital banks, and financial professionals. Morgan is also the author of “77 Tips for Preventing Elder Financial Abuse,” a book focused on helping caregivers protect the elderly from financial scams.

In addition to her writing skills, she brings real-world financial acumen thanks to her previous experience managing rental properties as part of a $34 million real estate portfolio.

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