Phone regulator Ofcom says it is working with the mobile phone industry and EU to protect customers from unexpectedly large bills.
At present, EU rules require operators to suspend an account once the bill reaches €50 for customers travelling in Europe.
Networks are also required to send alerts to consumers when they reach 80 and 100 per cent of their account limits.
Ofcom is now supporting calls to extend EU rules to so that European consumers enjoy this protection worldwide.
In the meantime the regulator has called on UK mobile providers to voluntarily introduce worldwide financial caps, protecting their customers from post-holiday shocks.
Ofcom says if the EU decides not to extend the existing protection, and if all providers do not agree to introduce financial caps and alerts voluntarily, it will consider intervening to protect consumers.