Holidaymakers looking to bag a cheap deal this summer could be left out of pocket by airlines, train operators and car hire companies that use ‘teaser’ pricing to lure in customers.

A new study commissioned by Shawbrook Bank found that flight costs can rise by up to 641% – or hundreds of pounds – above the advertised price as the cheapest deals are often limited.

The research also found that train fares can end up costing passengers up to 213% more than the price advertised, while the cost of car hire can also increase by 295% or more.

A survey of 2,000 people found that nine in 10 Brits expect the final cost to be exactly or roughly the same as the advertised price.

However, more than half of people surveyed said they almost always end up paying more than the price displayed.

The use of 'teaser' pricing may suggest why many people end up breaking their budget when making bookings online, Shawbrook said.

More than a quarter of those surveyed said they regularly break their budget and a further 46% say they do occasionally.

Consumers' frustrations can also be caused by brands deciding to increase their online prices in response to high demand, such as the summer holiday season.

Nearly two-thirds of consumers surveyed said brands shouldn't be able to inflate prices during these busy periods.

Furthermore, 86% surveyed said they feel cheated by brands that use “teaser” pricing, which seems to be damaging peoples trust in some online companies.

Almost four in 10 of the people surveyed said they had chosen to boycott brands that had charged well-above the advertised value, while more than one in five have made a formal complaint to the company or a third-party.

"The prices advertised online can often end up being much lower than the final cost, so it’s important consumers do take a moment to consider what they regard as value for money," Paul Went, at Shawbrook Bank said.

"The frustration of missing out on these advertised prices is widespread among consumers and it clearly leaves them feeling cheated."

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