What Banks Charge for Debit Foreign Transaction Fees

What Banks Charge for Debit Foreign Transaction Fees - NerdWallet (2024)

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.

Below, we compare the amount financial institutions charge to make an international ATM withdrawal or debit card purchase.

» Looking for information about credit cards? See how to avoid credit card foreign transaction fees.

Banks with no debit card foreign transaction or ATM fees

Capital One 360

Capital 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 Bank

This brokerage firm’s banking unit doesn't charge a fee when you use its debit card at an ATM overseas, and it offers unlimited reimbursem*nts 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® Bank

Discover 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 Bank

The mobile-only banking app Varo joins the ranks of other travel-friendly banks. It charges no foreign transaction fees or ATM fees at over 40,000 Allpoint® ATMs. (There is a $3.50 charge on out-of-network and international ATMs.)

Foreign transaction fees by bank or credit union

Institution	Foreign debit card purchase cost*	Foreign ATM withdrawal cost**
Bank of America 3.5 NerdWallet rating	3%.	$5 + 3% of amount.
Chase 3.5 NerdWallet rating	3%.	$5 + 3% of dollar amount.
Citi 4.0 NerdWallet rating	3%.	$2.50 non-Citibank ATM fee + 3% of amount.
Citizens Bank 4.0 NerdWallet rating	3%.	$3 + 3% of amount.
Fifth Third Bank 3.5 NerdWallet rating	3.2% (3% for transaction and 0.2% for currency conversion).	$5 + 3.2% of amount.
Navy Federal Credit Union 4.5 NerdWallet rating	1%.	$1 + 1% of amount.
TD Bank 3.0 NerdWallet rating	3%.	$3 + 3% of amount.
Wells Fargo 4.0 NerdWallet rating	3%.	$5.
Foreign debit card purchase cost refers to foreign transaction fees — often 1% to 3% — and currency conversion fees (if applicable). These fees will typically show up on your monthly statement. *Foreign ATM withdrawal cost refers to out-of-network ATM fees plus any foreign transaction fees (if applicable). Note: Some ATM owners tack on their own fee in addition to what your bank may charge. People with premium checking accounts might be eligible for certain fee waivers. Learn more about these banks and credit unions in NerdWallet's bank and credit union reviews.

What Banks Charge for Debit Foreign Transaction Fees - NerdWallet (1)

How do I avoid foreign transaction fees on my debit card?

You may want to consider switching to a bank with no foreign transaction fees. Travelers can also benefit from a credit card that skips these fees, especially if you go abroad frequently.

» See NerdWallet's picks for the best no foreign transaction fee credit cards.

And 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.

» Want to earn more on your savings? Browse NerdWallet's list of best high-yield online savings accounts.

What Banks Charge for Debit Foreign Transaction Fees - NerdWallet (2)

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What Banks Charge for Debit Foreign Transaction Fees - NerdWallet (3)

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FAQs

Which bank has free foreign transaction fee? ›

Discover® Bank

Discover 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. With an HSBC Premier Checking account, customers pay no foreign transaction fees. HSBC also has a worldwide network of ATMs.

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Is there a debit card that doesn t charge foreign transaction fees? ›

Revolut offers an excellent debit card to use abroad because it allows you to hold over 30 currencies and spend money in over 150 currencies. Revolut charges no foreign transaction fees when you spend abroad. If you want to add the local currency to your card, then you can make the conversion in your app.

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What U.S. Bank does not charge foreign transaction fees? ›

Your credit card will likely have a foreign transaction fee of around 3% if it is from Chase, PNC, Bank of America, Barclays or U.S. Bank, which charge foreign fees on most (but not all) of their cards. Your credit card will not have a foreign transaction fee if it is from Capital One, Discover, USAA, PenFed or HSBC.

Does Chase debit charge foreign transaction fees? ›

Chase foreign transaction fees

The Chase debit cards that they show on their website charge a fee of 3% on every transaction you make in a currency that isn't US dollars. That covers ATM withdrawals, cash transactions away from ATMs, and purchases you make with your card.

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Which bank has the lowest foreign transaction fee? ›

In the Indian market, numerous credit cards waive foreign transaction fees. Below are just a few examples of such cards: HDFC Bank Regalia ForexPlus Credit Card. IDFC Bank First Wow Credit Card.

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Can I use my debit card in another country without fees? ›

While you have your bank on the phone, it is a good idea to confirm the international ATM withdraw fee. Some banks charge a percentage fee such as 3%, while others may charge a flat fee such as $5. Other banks will charge both a flat fee and a percentage for every ATM withdraw you make while abroad.

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Which bank doesn t charge foreign transaction fee? ›

With the Starling Bank account you do not pay any fees to withdraw foreign currency from a cash machine while anywhere in the world outside Europe.

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What is the best bank to use for international travel? ›

Charles Schwab Bank is one of the best banks for international travelers, because it doesn't charge foreign transaction fees. It also refunds all fees charged by ATMs worldwide. But if you want to earn high interest rates, you're better off looking elsewhere.

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