0 Customers will benefit from a fairer exchange rate when using RBS and NatWest credit cards abroad.
There was an outcry when it emerged that RBS was using its own exchange rate, which could add an extra 2% to the cost of overseas transactions.
From July 1, the bank will base its rates on standard Visa and MasterCard exchange rates, which offer a better deal.
Tesco bowed to similar pressure at the end of January.
It was clear from feedback that customers wanted a more standardised approach to how exchange rates are calculated and one that was easier for them to understand. As a result, we are changing the system, says an RBS spokesman.
However, RBS and NatWest credit cards are still expensive to use abroad because, in common with most other cards, they add a loading to the Visa and MasterCard rates.
Some pre-paid cards that do not charge fees, such as Caxton FX and Travelex, offer a cheap way to spend or withdraw money abroad.
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