Does your business buy goods or services from abroad?
If so, make sure you’re not wasting money by paying excessive transaction fees or getting poor rates of exchange. Here are a few simple tips to save you money.
When you purchase some products online you may be invoiced in Euros, Dollars or other currencies.
Some credit cards and bank accounts charge punitive non-sterling transaction fees.
Paying for International Transactions & Cash Withdrawals Abroad
If you withdraw cash abroad the credit card companies will generally charge a cash withdrawal fee and additionally a non-sterling transaction fee. However, there are some credit cards for international transactions where no foreign transaction fees apply. A quick online search will find you the best deals.
Foreign Currency Cards
Use a preloaded foreign currency card and avoid unnecessary charges.