Post Office reduces fee on credit card

The UK Post Office has cut the standard 2.5 per cent cash advance fee that it normally charges for those purchasing purchase foreign currency from one of its outlets. Those using their credit card to purchase travel money will now pay no currency exchange fee, helping people travelling abroad to save on their costs.

There will be 0 per cent charge on balance transfers for the first 12 months and 0 per cent on new purchases for the first three months, making the Post Office one of the few providers that do not add commission for any overseas purchases.

Az Alibhai, who is head of cards at the Post Office, 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.