Britons living in Bulgaria. Guide to Bulgaria, Sofia and Varna

Skiers on the run as sterling goes downhill - This is Money

This is Money

Skiers on the run as sterling goes downhill This is Money, UK - Feb 4, 2008 Savings bonds Last month, the pound slumped to its lowest level against the euro since the currency's launch in 2002, seriously eroding Britons' spending ...

Skiers on the run as sterling goes downhill - This is Money
A holidaymaker withdrawing £100 in cash from an overseas cashpoint using a typical credit card can be hit for £5.25 in fees. An EHIC, for example, will not cover a skier against the cost of mountain rescue, air ambulances and repatriation, which can easily run into tens of thousands of pounds. And almost one in three do not take out cover for short breaks, says the Post Office. And unlike good travel insurance, the Health Card offers no protection for lost or stolen baggage, flight delays, piste closure or personal liability claims. Are these accounts too good to be true?>> Savings bonds Last month, the pound slumped to its lowest level against the euro since the currency's launch in 2002, seriously eroding Britons' spending power. At the end of last week, tourists wanting to exchange money on the High Street can get rates at between €1.28 and €1.3 to the pound. Bank debit card fees vary but some can be as high as those associated with credit cards. Bonus rate for cash Isa savers SAVINGS TABLES Find the best savings account to suit you from our entirely independent comparison tables:>> Top savings rates WHERE NEXT FOR RATES? But earlier this month she and her friends chose to ski in Borovets, a resort in Bulgaria, to save money. But those who use their plastic abroad can get badly stung by high fees and charges. CampaignReclaim your bank chargesUnfair bank charges have been imposed on millions. For example, a holidaymaker changing £600 into euros last Wednesday will have received €783.06 through Travelex.co.uk, yet the same order online through postoffice.co.uk will have resulted in just €776.94. It means that a holidaymaker changing £500 will now get about €640, compared with about €705 in January last year. It's vital that skiers have winter sports insurance on top of standard cover.' A week's insurance for a couple skiing in Bulgaria, including winter sports, baggage and cancellation cover, costs from £24, says insuresupermarket. Jacqueline researched the market online before getting her Bulgarian lev through Travelex. Marks & Spencer, via marksandspencer.co.uk, offered €778.20, while americanexpress.co.uk will have provided €773.8. Most banks, including the Big Four, charge at least 2.75% for cash conversions overseas. Most High Street providers, including Marks & Spencer, the Post Office and Travelex, offer commission-free currency exchange but rates vary widely. Nationwide and Post Office credit cards charge no overseas loading fee. Skiers on the run as sterling goes downhill | This is Money // use rsinetsegs array from JSS call above.var segQS = rsinetsegs.length> 0 ? So what's next for rates?>> Rates forecasts SAVINGS FINDER Our comparison tool can help you find the best savings rates and accounts on the market:Best savings accounts THE 007 SAVINGS BONDS Bonds have hit 7% as banks battle for savers' money. The Fed has slashed rates and the UK bank rate is now 5.25%. The Nationwide Building Society FlexAccount debit card has no fees for cash withdrawals or spending overseas. The Saga credit card, available for the over-50s, has a 1% loading fee worldwide but no fee when used on the Continent. The typical charge for overseas usage - sometimes called the loading fee - is 2.75%, according to independent data compiler Moneyfacts, though some can be as high as 2.95%. There was great skiing in Bulgaria and it was a lot cheaper.' Jacqueline says she spends an average of about £900 on a week's skiing holiday in France, but she spent only £550 on her Bulgaria trip. This compares with 1.41 in January 2007. This includes a 2.75% loading fee and a 2.5% cash withdrawal fee. Those who rely on the European Health Insurance Card (EHIC) - formerly the E111 form, which entitles Britons to free or reduced medical treatment in most European countries - can leave themselves open to massive bills should disaster strike. Using debit and credit cards when overseas is a convenient way to get local currency, rather than changing money at the bank or buying traveller's cheques before a trip. WHY INSURANCE COVER IS VITAL A surprising 13% of holidaymakers still travel without insurance, according to Mintel research.