We know traveling overseas can often be a hassle and quite the drag when you realize the foreign transactions fees that will be placed on your debit cards. Whether you are simply making a purchase or withdrawing from ATMs overseas, what might look like a small fee can easily rack up fast. Often times, foreign transaction fees will charge you anywhere from 1% to 3% of the amount on a certain purchase that is not within the states. The fees can apply on purchases ranging from simply getting a cup of coffee to shopping overseas. Additionally, banks will often surprise you with hidden fees that you did not previously know about! Therefore we have come up with an updated list of travel-friendly debit cards that have the lowest ATM & debit card foreign transaction fees for your easy browsing.
We researched and found the ideal features to look for in a debit card:
- 0% Foreign Transaction Rate
- $0 International ATM Withdrawal Fee
- Waivable Fees: the fees you pay vary on the bank you do business with, many banks will waive fees for customers with premium accounts or those that carry large balance requirements.
If you are interested in relieving some stress from your next vacation or travels, please continue below to see our list of Top Banks with Lowest ATM & Debit Card Foreign Transaction Fees!
Best Banks with No Fees For International ATMS:
Capital One customers do not have to pay any flat fees or any foreign transaction fees when using their debit cards outside of the U.S. This is their only online offer. The card is easy to apply for and is completely hassle free. However, be sure to keep in mind that this only applies to Capital One 360 customers. Consumers who banks with Capital One through one of their many physical branches or if an out-of-network ATM operates charges you a fee, you are subject to pay the amount without any reimbursement from Capital One 360.
Charles Schwab customers will not be charge with a fee when you use your debit card at any ATM overseas. Not only will you not get charged or hit with any hidden fees, but the bank will offer you unlimited reimbursements for ATM fees from any cash withdrawals worldwide! It does not matter which network you use, you will still be able to use the ATMs for free. Additionally, Charles Schwab does not charge its customers with any currency conversion fees for debit card transactions, that way you will not lose any money!
CitiBank is offering their customers the ability to use your CitiBank card to withdraw cash at any CitiBank-branded foreign ATMs for no transaction or hidden fees of any kind! However, if the ATM in not within the CitiBank network, customers will be responsible to pay a $2 foreign transactions fee as well as a 3% conversion charge. The good thing about this offer is that there are an abundant amount of CitiBank-branded ATMs all over the world, so you can easily avoid the fees!
Discover Bank doesn’t charge foreign ATM network or foreign transaction fees in specific countries. If you just so happen to be traveling to Canada, Mexico or selective Caribbean nations outside the U.S., then now is your chance! You can use the ATMs without having to worry about any pending foreign transaction fees or hidden fees of any kind.
Notable Banks With Low Fees/Waivable Fees:
TD Bank charges a flat $3.00 fee for ATM withdrawals with no foreign transaction fees. However the fee can be waived for TD Premier and TD Relationship account holders with a daily minimum balance of $2,500 in their account. Currently TD Bank is offering a $300 bonus when you open a TD Premier account. Make sure to read our TD Bank review to find out more about this interest checking account.
Fidelity customers who has a Cash Management Account can enjoy access to no fees, no minimum balances, and no direct deposit requirements. When you use your Fidelity VISA Gold Check Card at any ATMs displaying VISA, Plus or Star logos, customers can have their ATM fee charges reimbursed. However, please note that there is a 1% foreign transaction fee that is not waived, which will be included in the amount charged to your account.
PNC Bank unfortunately does not have partners overseas or outside of the U.S. so customers will be charged with a $5 fee per transaction as well as a 3% charge on the transaction amount. However, if you are a Performance or Performance Select customer from the bank, the charges will be waived! With Spend, Reserve, or Growth accounts, the fee for the first two domestic or international non-PNC Bank ATM transactions during a statement period will be reimbursed.
USAA will refund up to $15 from other banks’ ATM transaction fees each month. Additionally, the bank does not charge a fee for the first 10 ATM withdrawals made outside the U.S. Any withdrawals over the initial 10 will be charged with a $2.00 each. However, keep in mind that a 1% foreign transaction fee applies to withdrawals outside the United States.
Conclusion:
Before leaving for vacation or traveling abroad, the safest thing to do is to always check with your bank. Even if banks typically charge a fee or a percentage of purchases overseas, many banks will waive such a fee or lower the rate for premium or loyal customers with a consistent balance. However this of course may vary depending on individuals and branch locations. If your bank has a physical branch or any partner banks in your designated country, then there might be a chance for you to avoid the fees altogether.
Lastly, I would definitely watch out for any hidden fees charged by foreign ATM operators that are not associated with your bank. When you withdraw from a ATM that is not a part of your bank, the ATM itself will often notify you of any charges, so definitely read the fine prints carefully before completing the withdrawals. It is never fun to come home from a trip or vacation to find that your monthly statement is a lot higher than the months before. Also, make sure you check out our best Bank Bonuses list nationwide to find the right bank to meet your banking needs and earn some extra cash along the way!