Foreign transaction fees can add up fast when using your debit card abroad. The fees are often 1% to 3% of the amount of a purchase, and many banks also apply the fee to ATM withdrawals. Show
Below, we compare the amount financial institutions charge to make an international ATM withdrawal or debit card purchase. Banks with no debit card foreign transaction or ATM feesCapital One 360Capital One’s online bank stands apart from many banks because it doesn’t charge a currency conversion fee or a fee for using a foreign ATM network. If an out-of-network ATM operator charges you a fee, however, it won’t be reimbursed by Capital One 360. Charles Schwab BankThis brokerage firm’s banking unit doesn't charge a fee when you use its debit card at an ATM overseas. In fact, it offers unlimited reimbursements for ATM fees from cash withdrawals worldwide, regardless of the network used. And it doesn't charge currency conversion fees for debit card transactions. Discover BankDiscover doesn’t charge foreign ATM network or foreign transaction fees. But Discover card acceptance can be limited outside of the U.S., Canada, Mexico and some Caribbean nations. HSBC With an HSBC Premier Checking account, customers pay no foreign transaction fees. HSBC also has a worldwide network of ATMs. Varo BankThe mobile-only banking app Varo joins the ranks of other travel-friendly banks. It charges no foreign transaction fees or ATM fees at over 55,000 Allpoint® ATMs. (There is a $2.50 charge on out-of-network ATMs.) Foreign transaction fees by bank or credit union
Click here to expand and compare fees at nearly 15 more national and online banks
Click here to expand and compare fees at nearly 15 more national and online banks
What to do if a fee seems too expensiveYou may want to consider switching to a bank with no foreign transaction fees, listed above. Travelers can also benefit from a credit card that skips these fees, especially if they go abroad frequently. No matter where you bank, let your financial institution know where you'll be traveling before you depart to avoid any unwarranted fraud alerts on your account. SoFi Checking and Savings Deposits are FDIC Insured Upgrade - Rewards Checking Deposits are FDIC Insured Current Account Deposits are FDIC Insured Chime Checking Account Axos Bank® Rewards Checking Is there a foreign transaction fee on Wells Fargo debit card?Wells Fargo • Debit purchase: 3%. ATM withdrawal: $5.
Can I use Wells Fargo debit internationally?Can I use my Wells Fargo debit card internationally? Yes. You'll be able to use your Wells Fargo card when you travel — just check the network your card is issued on — usually Visa or MasterCard — is accepted by the merchant or ATM you pick.
How do I avoid foreign transaction fees on my debit card?You can also avoid foreign transaction fees by making purchases online only with international merchants that work with American credit cards and accept US dollars. When shopping online, make sure that their business is based in the US or that they accept a range of payment options that include US currency.
Are there foreign transaction fees on debit cards?There are two types of debit card fees you may face abroad: Foreign transaction fee: Sometimes called a currency conversion fee, this applies for foreign transactions made with a debit card. It usually ranges from 1% to 3% of the purchase amount. Foreign transaction fees for credit cards work similarly.
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