Martin Lewis warns people over cash machine button ‘you should never press’

Martin Lewis has issued an urgent warning to holidaymakers over a button you should never push on a cash machine. The BBC Sounds and ITV star spoke out in his latest Money Saving Expert newsletter ahead of the spring and summer getaway.

The MSE founder wrote to Brit tourists and holidaymakers planning a spring or summer holiday. Cash machines overseas usually offer users the option of paying in pounds or the local currency but choose pounds can see you pay more for the cash coming out the wall.

Mr Lewis warns it’s because the overseas bank will do the conversion to pounds and the rates are unfavourable. He warned: “While the €7 fee machines did sometimes offer better exchange rates, that’s irrelevant, as you should SAY NO to the foreign bank doing the conversion – you want your UK card to do it (especially if you’ve a specialist card).

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“Foreign ATMs don’t like that. They’ll push and try to scare you to let them convert for you, with an ‘are you sure?’, or ‘are you really sure?’ if you select the option they don’t want (as they make less money). Yet still say no to currency conversion.

Do that and the only thing that matters is the fee, so go for the cheapest one of those.” He added: “In most countries commonly visited by Brits, certainly in Europe and North America, you’re fine to use a card for almost all spending, and if not, it’s usually easy to find an ATM to get cash out of.

“Yet to find out if people have problems elsewhere, Martin asked for experiences on Twitter and Facebook (feel free to add your comments). If you’re visiting a specific country, it’s worth looking through for that, but the three we saw repeatedly reported were…

“In Japan, occasionally you need special ATMs to use international cards. In China, hotels take cards, but elsewhere Alipay is easier. And in India, some shops & restaurants won’t take international cards, use cash.”