UK Banks Overcharging For Cash Withdrawals Abroad

What's Next In Payments®
5:12 PM EDT May 9th, 2013

According to the Telegraph, HSBC, NatWest and Direct charges consumers the most among British banks to withdraw cash when travelling abroad. A customer using the ATM services in another country will be charged with an average of £6 or more depending on where they travel. HSBC, NatWest and Direct customers are being charged an average of £12 pounds per withdrawal. The banks incur two charges: first charging a card transaction fee, and then a conversion fee.

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