Be aware of new bank charges, says Apacs

20 December 2006
Apacs, the UK's payment association, has issued a warning to Britain's consumers to be aware of which cards they are using for their festive purchases as many of the lenders have announced changes to their fees.

The warning arrives as ten of Britain's most-used credit cards, including Egg, Goldfish, Mint, M&S Money, Nationwide, Smile and Virgin Money, announce that they have increased their interest rates on purchases by one per cent.

Britons are expected to spend approximately £11.4 billion of the overall expenditure figure of £31.8 billion on their credit and store cards, which is why Apacs is urging shoppers to be aware of which companies will be putting extra charges on their expenditure.

Speaking to the Daily Mail, Apacs' Mark Bowerman said that shoppers just needed to express a little know-how when it came to spending their cash if they wanted to avoid any unexpected surprises on their credit card bills.

He explained that all consumers needed to do was to "pay attention to exactly what card they are using and what they will have to pay for their spending".

Britain's high street spenders were also urged to seek out free-to-use cash machines after Sainsbury's Bank estimated that up to £16.43 million could be wasted by shoppers in ATM charges during the run-up to Christmas.

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