Energy firms sitting on £3bn of our credit – how to get it back | Cheapest way to spend abroad

Martin Lewis tackles two major financial topics in this week's episode of The Martin Lewis Podcast: energy direct debits and the cheapest ways to spend abroad. He highlights that energy firms are holding £3 billion in customer credit due to inaccurate direct debit calculations, urging listeners to check their balances now—particularly in early May, when credit levels are at their lowest. He explains how to request refunds if overpaid and discusses the benefits of variable direct debit over fixed monthly payments. For travelers, he recommends specialist debit and credit cards that avoid non-Sterling exchange fees, with the Barclay Card Rewards Visa now topping his list due to its 1% cashback and no interest on ATM withdrawals. He also advises paying in local currency when booking abroad and using prepayment cards strategically. The episode includes heartwarming stories of children demonstrating financial savvy, reinforcing the importance of early money education. A tricky Mastermind question on consumer rights concludes with a nuanced ruling on free product faults, emphasizing practical solutions over legal technicalities.