When you travel abroad, you may not know which banks are considered the best for waiving foreign transactions. This review has some of the best banks with the lowest foreign fees, so continue reading to find out more.
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- Which banks have the lowest or free ATM fees internationally
Table of Contents
International Debit Card Transactions/ATM Withdrawals
There are usually two types of fees associated with foreign debit card transactions:
- Flat Fees: Flat fees are charged per transaction and they are at a fixed rate for every ATM withdrawal or transaction.
- Foreign Transaction Fees: These fees are generally levied by the bank when you use foreign currency. They can be between 1%-3% of the total transaction.
There are also two other ways that banks can apply foreign transaction fees. These include:
Bank can combine fees when you withdraw money from an ATM. Not only do you have to pay a foreign transaction fee but sometimes the flat fee as well if you use your debit card.
However, there are some banks that might only charge a flat fee for ATM transactions.
Best Banks With Lowest Fees For International ATMs
Down below are some common banks who have checking accounts that can waive all kinds of fees but especially foreign transaction ones.
TD Bank Beyond Checking
TD Bank has checking account with features that cater to ATM users meaning they waive transaction fees.
The TD Beyond Checking account specifically reimburses you for fees like ATM transactions, overdrafts, and outgoing wires.
They also offer a $300 bonus when you receive direct deposits of $2,500 or more and waive surcharges when you keep a daily balance of that much.
Capital One 360
Capital One 360 is an online bank that offers a lot of free fee personal accounts. Their customers normally don’t have to pay flat fees nor any foreign transaction fees when using their debit cards abroad.
This only applies to Capital One 360 customer, not Capital One.
Charles Schwab Bank
Charles Schwab Bank has a High Yield Investor Checking account that can reimburse ATM fees from cash withdrawals worldwide.
This account is recommended for traveling abroad as it eliminates certain fees.
There are also no currency conversion fees for debit card transactions.
Discover Bank customers benefit from not being charged for using their debit card at foreign ATMs abroad.
However, Discover Bank only accepts people within the U.S., Canada, Mexico and Carribbean nations.
With Citibank, you can use your card to withdraw cash at CitiBank-branded foreign ATMs with no extra costs.
CitiBank customers however do have to pay a $2.50 foreign transaction fee plus a 3% conversion charge.
They do have a large global presence so you can find a Citibank abroad on their website.
The Best Bank Offers are updated here. See the below pages to get started with some of the best offers:
• Chase Bank Offers. Chase offers a range of attractive Checking, Savings and Business Accounts. Chase has a great selection of sign-up bonuses in comparison to other big banks.
• HSBC Bank Offers. HSBC Bank routinely has offers for several of their Personal Checking and Business Checking accounts. They also have a good referral program.
• Huntington Bank Offers. Huntington Bank has high bonus amounts available through their Checking and Business Checking. Huntington also offers a Business Premier Money Market Account.
• Discover Bank Offers. Discover Bank offers top cashback, savings, money market accounts and CD rates for you to take advantage of. Discover has industry leading selections to cater to your banking needs.
• TD Bank Offers. TD Bank consistently offers a fantastic selection of checking accounts to cater to your banking needs. However, savings account offers are less frequently available.
More ATM Fees Data With Common Banks
Here are some more foreign ATM withdrawal and transaction fees from other more known banks.
|Bank||Foreign ATM Withdrawal Fee||Foreign Debit Purchase Fee|
|Ally Bank||Up to 1% of amount||Up to 1%|
|Bank of America||$5 + 3% of amount||3%|
|BBVA Bank||$2.50 + 3% of amount||3%|
|Branch Banking & Trust (BB&T)||$5 + 3% of amount||3%|
|BMO Harris Bank||$2.50 + 3% of amount||3%|
|Chase Bank||$5 + 3% of amount||3%|
|Citibank||$2.50 + 3% of amount||3%|
|Citizens Bank||$3 + 3% of amount||3%|
|Fifth Third Bank||$5 + 3% of amount||3%|
|HSBC Bank||$2.50 + 3% of amount
*No ATM fee with Premier Checking in most countries
|KeyBank||$5 + 1% of amount||1%|
|M&T Bank||$5 + 3% of amount||3%|
|PNC Bank||$5 + 3% of amount||3%|
|Regions Bank||$5 + 3% of amount||3%|
|Santander||$6 + 4% of amount||4%|
|SunTrust Bank||$5 + 0% of amount||None|
|TD Bank||$3 + 0% of amount||None|
|Union Bank||$5 + 2% of amount||2%|
|U.S. Bank||$2.50 + 3% of amount||3%|
|Wells Fargo Bank||$5 + 3% of amount||3%|
Overall, you should really look into the different kinds of bank before deciding which one would best suit your travel abroad needs.
If you tend to travel a lot and spend a great deal of money, then consider opening a checking account with a bank that waives foreign transaction fees.
However, some ATMs will charge you when you use them abroad.
If you are interested in other bank bonuses, then check out these other Best Bank Bonuses right here on BCS!