Knowledgeable travelers are aware of the fact that most Credit Cards add a 3% surcharge on all transactions in a foreign country. In addition, the exchange rates that are applied are no longer very competitive. According to numerous newspaper articles, using your credit card abroad can add an extra 5% to the cost of the trip.
Many banks have also recently started to add surcharges to ATM withdrawals abroad. This, coupled with the increases in transaction fees will add substantially to the cost of the foreign currencies obtained.