Debit Card Foreign Transaction and ATM Fees - NerdWallet
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Debit Card Foreign Transaction and International ATM Fees: What You’ll Pay

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A bill with payment in Euros on the table of a cafe.

Please note shallow depth of field.

Using your checking account’s debit card outside the U.S. can come at a cost, sometimes in a couple of different ways.

Check out this overview of what some bigger banks and credit unions can charge when you make transactions abroad.

Types of foreign transaction fees

There are two types of debit card fees you may face overseas:

  • International ATM fee: Typically this is a flat $2 to $5 applied every time you withdraw money in a foreign currency at an ATM abroad. Some financial institutions treat such uses like transactions through out-of-network ATMs within the U.S.
  • Foreign transaction fee: This conversion charge often ranges from 1% to 3% of the amount involved in a debit card transaction conducted in a foreign currency.

MORE: Best banks for international travel

Common fee structures

While costs vary by financial institution, there are two common methods of applying these charges:

  • The most common involves a combined flat fee for using an ATM network in another country, plus a percentage of the value of any withdrawn cash.  When using a checking account debit-card for purchases in a foreign currency, you pay a conversion charge but no network access fee.
  • A less common method used by some banks and credit unions involves just a flat fee for overseas ATM withdrawals, with no conversion charge, and for debit-card purchases, only the conversion percentage and no network fee.

Institutions with no foreign transaction fee for debit card use

Capital One 360:

Capital One Bank’s online unit doesn’t charge a conversion fee or for using a foreign ATM network, though it says MasterCard may add an “adjustment factor” based on the value of a foreign-currency transaction.

Charles Schwab Bank:

The banking unit of this securities broker reimburses any ATM fees from cash withdrawals worldwide, regardless of the network used. There are also no currency conversion fees for debit card transactions in a foreign currency.

Discover Bank:

The bank doesn’t charge foreign ATM network or currency conversion fees, but a Discover card only works in a few countries outside the U.S., including Canada, Mexico and some Caribbean nations.

MORE: Banking tips for students abroad

Foreign transaction fees by financial institution

Here’s a list of what some banks and credit unions charge when you use a debit card abroad:

Institution ATM Withdrawal Fee Purchase Fee
Alliant Credit Union 1% of withdrawal amount 1% of purchase value
Note: Alliant debit card holders can be reimbursed up to $20 per month for out-of-network ATM fees, including abroad.
Ally Bank 1% of amount 1%
Bank of America $5 + 3% of amount 3%
Bank5 Connect 1% of amount 1%
Branch Banking & Trust Company (BB&T) $5 + 3% of amount 3%
Note: No flat fee for account holders in Texas
BMO Harris Bank $2.50 + 3% of amount 3%
Note: No flat fee for those with Portfolio Checking after the fifth relevant transaction
Chase Bank $5 + 3% of amount 3%
Note: No flat fee for those with Premier Platinum Checking
Citibank $2.50 + 3% of amount 3%
Note: No fees for those using a Citigold debit card in participating countries
Citizens Bank $3 + up to 1.8% of amount Up to 1.8%
Note: No ATM fee for the first relevant transaction for those with Value Checking
No ATM fee for the first four relevant transactions on a Circle Gold Checking with Interest account
BBVA Compass Bank $3 + 1% of amount 3%
Connexus Credit Union $2 (some withdrawals may be free) + 1% of amount 1%
Consumers Credit Union $1.50 + 2% of amount 2%
Fifth Third Bank $5 + 3% of amount 3%
HSBC Bank 3% of amount 3%
Note: No ATM fee with Premier Checking in most countries
M&T Bank Greater of 50 cents or 3% of amount Higher value: $5 or 3%
Nationwide Bank $1.50 + 1% of amount 1%
Navy Federal Credit Union $1 + 0.8% of amount 0.80%
Pentagon Federal Credit Union $3 + up to 2% of amount Up to 2%
PNC Bank $3 or $5 + 3% of amount 3%
Note: $3 for non-PNC ATM use in Puerto Rico, U.S. Virgin Islands and Canada; $5 for ATMs in any other country
No flat fee with Performance Checking
Regions Bank $5 + 3% of amount 3%
SunTrust Bank $5 + 3% of amount 3%
TD Bank $3 None
Union Bank $5 2%
Note: No ATM fee with Priority Banking or Private Advantage checking Note: No fee with Private Advantage
U.S. Bank $2.50 + 3% of amount 3%
Note: No ATM fee for Premium and Platinum checking
First four non-U.S. Bank ATM uses free with Student Checking.
Note: If processing foreign currency to U.S. dollars instead, then the fee is 2%.
Wells Fargo Bank $5 3% of value
Note: Additional 3% of cash withdrawals made through a teller

Keep in mind …

  • Credit unions tend to have lower international transaction fees than banks. This is usually because only the currency conversion charge from Visa and MasterCard, around 1% of the value, is passed on to members with no additional fee added. Banks, in contrast, may tack on an extra 1% to 2% to the card company cost.
  • Charges typically apply to debit and credit card transactions. However, you can find both types of cards without these fees.
  • Operators of ATMs may charge you. This is in addition to your bank’s foreign network access fee. Usually there’ll be a notice of some sort to alert you to the charge.

Knowing your institution’s foreign transaction and ATM fees can help you prepare accordingly, minimize your costs and keep your vacation memories from being marred by unexpected charges on your bank statement after returning home.

Methodology

The 15 largest banks by assets minus those without a significant retail banking presence were surveyed, along with major financial institutions in the five biggest U.S. metro areas and several online-only banks that offer a full range of checking and savings accounts. Added to that list were some of the biggest U.S. credit unions that have broad-based qualifications for membership.

Spencer Tierney is a staff writer at NerdWallet, a personal finance website. Email: spencer@nerdwallet.com. Twitter: @SpencerNerd. John Gower of NerdWallet contributed to this report.

Updated Aug. 11, 2015.


Image via iStock.

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  • http://twitter.com/varud Adam Nelson

    Etrade checking is 1% flat for an international ATM withdrawal and they make it very easy to transfer money from other banks via iphone or the web. They also reimburse ATM fees.

  • http://twitter.com/varud Adam Nelson

    Etrade checking is 1% flat for an international ATM withdrawal and they make it very easy to transfer money from other banks via iphone or the web. They also reimburse ATM fees.

  • http://www.facebook.com/kristina.sims Kristina Sims

    Amazing page! Thank you for putting all of this information in one place, it has reduced the hours of frustration considerably.

    When looking into the Capital One 360 Debit MasterCard, the site says that Capital One doesn’t charge for foreign transactions, “however, MasterCard may apply a charge for converting the purchase to U.S. Dollars.” I can’t get a straight answer on how much this charge will be. Capital One says “up to .20%” and MasterCard says 1%. Please help.

    • NWjohn

      Glad we could help you out Kristina! As far as we know, Capital One 360 customers do not face any foreign transaction fees for using their debit cards, despite the warning about a potential fee from MasterCard. If you experience otherwise please let us know!

      • Ignatius Iggy Chen

        Adding to this, I’ve searched the Capital One 360 website looking for a mention about international ATM fees and I can’t find anything. Do you know if there may be an additional charge for withdrawing money using the Capital One 360 checking debit Mastercard?

        • NWjohn

          There shouldn’t be any additional charge, however to avoid a surcharge from the ATM itself, Capital One customers are restricted to the Allpoint Network. There are Allpoint ATMs in some foreign countries, such as Australia, Canada, the U.K. and Mexico. In any other countries, you’ll probably have to pay a fee to the ATM owner, but not to Capital One.

      • vega25

        If there were a fee that MasterCard charged, would it show up separately in the statement or be included with the exchange rate and therefore invisible to us?

        • NWjohn

          It should show as a separate fee on your bank statement.

  • http://www.facebook.com/kristina.sims Kristina Sims

    Amazing page! Thank you for putting all of this information in one place, it has reduced the hours of frustration considerably.

    When looking into the Capital One 360 Debit MasterCard, the site says that Capital One doesn’t charge for foreign transactions, “however, MasterCard may apply a charge for converting the purchase to U.S. Dollars.” I can’t get a straight answer on how much this charge will be. Capital One says “up to .20%” and MasterCard says 1%. Please help.

  • Jean Paul

    Do you have any information on USAA?

  • Jean Paul

    Do you have any information on USAA?

  • Disgusted

    I just looked into opening a Wells Fargo account to take advantage of the fact that they only charge $5 for an ATM withdrawal overseas, only to be told that there’s a $50 ACTIVATION FEE for opening an account with them. It seems that each institution rips you off, it’s just a matter of figuring out how they do it.

  • Disgusted

    I just looked into opening a Wells Fargo account to take advantage of the fact that they only charge $5 for an ATM withdrawal overseas, only to be told that there’s a $50 ACTIVATION FEE for opening an account with them. It seems that each institution rips you off, it’s just a matter of figuring out how they do it.

  • Juan

    Charles Schwab offers a high yield checking account with worldwide ATM fees reimbursment

  • Juan

    Charles Schwab offers a high yield checking account with worldwide ATM fees reimbursment

  • http://tradesmart.net/ Cookie Baker

    Etrade says their policy is 1% of the “currency exchanged” stating that it is an “exchange fee”. But they still charge if you exchange a USD for a USD in a foreign country. Keep in mind about 12 countries use the USD for their currency.

  • http://tradesmart.net/forsale Cookie Baker

    Etrade says their policy is 1% of the “currency exchanged” stating that it is an “exchange fee”. But they still charge if you exchange a USD for a USD in a foreign country. Keep in mind about 12 countries use the USD for their currency.

  • mikey

    I used the Capital 360 debit all over Central/South America without ever being charged. Just be warned in Brazil not all ATM’s accept American debit cards. Banco do Brasil was the most reliable.

  • mikey

    I used the Capital 360 debit all over Central/South America without ever being charged. Just be warned in Brazil not all ATM’s accept American debit cards. Banco do Brasil was the most reliable.

  • Nicole

    So helpful! This is great! I do have one question, though. I will be moving to the Dominican Republic temporarily . . . but long enough that I will need to be able to access my money as if my bank were there. What kind of fee applies for an international advance withdrawal at an international bank? From what you wrote above, it looks like it would be the same fee as using a debit card. Is that correct?

    • NWjohn

      Fees from the international bank will likely vary, but your (U.S.) bank should just charge the foreign transaction fee (a % of the total amount) for making a withdrawal from a teller at another bank – just like making a debit card purchase.

  • Nicole

    So helpful! This is great! I do have one question, though. I will be moving to the Dominican Republic temporarily . . . but long enough that I will need to be able to access my money as if my bank were there. What kind of fee applies for an international advance withdrawal at an international bank? From what you wrote above, it looks like it would be the same fee as using a debit card. Is that correct?

  • Courtney

    I have Bank of America and they have partnerships with Barclays, Deutsche Bank and BNP Paribas. Most of these banks you can find throughout Western Europe. You won’t be charged a transaction fee for withdrawing from these banks.

    • B Wooster

      No longer. Starting November 2013, Bank of America will add a 3% surcharge to conversion fees (used to be 0-1% max), even when using the partner banks you list above.
      And if you don’t use partner banks, then there is $3-$5 per transaction charge added.
      (The article above needs to be updated with this new info as of Nov 2013).

    • vanderschlecht

      Bank of America charges 3% currency conversion fee on ATM withdrawals even with allied ATM netowrk such as Scotiabank and Deutschebank. used to be none then 1% now is 3%

  • Courtney

    I have Bank of America and they have partnerships with Barclays, Deutsche Bank and BNP Paribas. Most of these banks you can find throughout Western Europe. You won’t be charged a transaction fee for withdrawing from these banks.

  • BJP

    Bank of America in November of 2013 stopped offering free ATM withdrawals from China Construction Bank. I just applied for a Fidelity cash card that is free all over the world!!! No fees whatsoever!

    • Jimmy

      There is a foreign transax fee.

      1. All Fidelity ATM withdrawal fees will be waived for your Fidelity® Cash Management Account. In addition, your account will automatically be reimbursed for all ATM fees charged by other institutions while using a Fidelity® Visa® Gold Check Card linked to your account at any ATM displaying the Visa®, Plus®, or Star® logos. The reimbursement will be credited to the account the same day the ATM fee is debited from the account. Please note, there is

      *************************************** a foreign transaction fee of one percent that is not waived, which will be included in the amount charged to your account. *******************************************

      The Fidelity® Visa® Gold Check Card is issued by PNC Bank, N.A. and the check card program is administered by BNY Mellon Investment Servicing Trust Company. Those entities are not affiliated with each other or with Fidelity Investments. Visa is a registered trademark of Visa International Service Association, and is used by PNC Bank pursuant to license from Visa U.S.A. Inc.

  • BJP

    Bank of America in November of 2013 stopped offering free ATM withdrawals from China Construction Bank. I just applied for a Fidelity cash card that is free all over the world!!! No fees whatsoever!

  • kh

    Wow, thanks so much for the info. The Capital One 360 online banking company sounds too good to be true? Is it? Are there any drawbacks?

    • NWjohn

      That mostly depends on your preferences. Since it is an online bank, you can’t walk into a bank branch for customer service or to deposit a check. If you’re comfortable banking entirely online or with your phone, however, online banks like Capital One 360 are great options. You can read more about others here: http://www.nerdwallet.com/blog/banking/nerdwallets-top-online-checking-accounts/

    • anna belle

      I bank with Cap1360 and Ally and I called both before I went to France. I chose to use my Capital one card when I went. They had told me up to 2% but when I checked my account I couldn’t find any fees. I love both Cap1360 and ally. C1360 has lower interest and lower fees. Ally is higher interest and free ATM use anywhere in the US. Both have spectacular customer service. I use BofA as well, as little as possible, only when I really need that option to deposit cash or an actual cheque.

  • kh

    Wow, thanks so much for the info. The Capital One 360 online banking company sounds too good to be true? Is it? Are there any drawbacks?

  • Tom Fielding

    Bank of America actually charges 3% for ATM withdrawls, not 1% (plus a $5 fee if not using a member bank’s ATM). https://www.bankofamerica.com/deposits/manage/faq-atm-fees.go

  • Tom Fielding

    Bank of America actually charges 3% for ATM withdrawls, not 1% (plus a $5 fee if not using a member bank’s ATM). https://www.bankofamerica.com/deposits/manage/faq-atm-fees.go

  • NWjohn

    Thanks for the correction Tom! We’ve made the update.

  • NWjohn

    Thanks for the correction Tom! We’ve made the update.

  • Tina

    What is Bank of America’s policy for using their Visa debit cards to make online purchases in a foreign currency? I need to get a train ticket (the deal I found is only available online) from London to Paris, and the rail company will only let me pay in pounds. But the rail company does accept foreign cards. So I just want to make sure Bank of America won’t charge me some crazy fee for it. Thanks for the information!

    • NWjohn

      Bank of America should charge a fee of 3% of the purchase amount for international currency conversion.

  • Tina

    What is Bank of America’s policy for using their Visa debit cards to make online purchases in a foreign currency? I need to get a train ticket (the deal I found is only available online) from London to Paris, and the rail company will only let me pay in pounds. But the rail company does accept foreign cards. So I just want to make sure Bank of America won’t charge me some crazy fee for it. Thanks for the information!

  • Bitcoin ATM

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  • Bitcoin ATM

    “You can take
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  • Kelly

    Is there any US credit or debit card provider issuing a “chip and PIN” card yet?
    so few European and fewer and fewer Canadian retailers take the antiquated US mag stripe cards. thanks you

    • NWjohn

      A few credit card providers do offer those types of cards. Read more here: http://www.nerdwallet.com/blog/top-credit-cards/nerdwallets-best-emv-chip-credit-cards/

      • Be Good

        i live and travel in Europe with a chipless American card. they look at it funny for a second, then see the slot in the side of their machine in which they can slide the card. chip would be nice though.

    • Travel Banking

      Yes Charles Schwab High Yield Checking Account does now! Just asked an agent today. You have to also open a Brokerage Account at the same time to get the checking account. No big deal there. NO minimum amount ($0) to create either account. AND no ATM fees anywhere, they reimburse any ATM fees you are charged. And they are very helpful. 24 Hour Service to talk to a live person, they also have online chat 24/7. Great travel debit/credit card.

  • Kelly

    Is there any US credit or debit card provider issuing a “chip and PIN” card yet?
    so few European and fewer and fewer Canadian retailers take the antiquated US mag stripe cards. thanks you

  • http://veryquickbooks.com VeryQuickBooks

    I just signed up with Charles Schwab. They have absolutely NO fees on anything for their checking account. Also no minimums to sign up and no minimums to maintain the account. They have a helpful website and online chat was excellent. It was super easy. I wish I had known about them years ago! Only drawback for me is that they cannot set up a business account, so I’ll have to keep that at another bank, but I don’t use that one much now anyway.

  • http://veryquickbooks.com VeryQuickBooks

    I just signed up with Charles Schwab. They have absolutely NO fees on anything for their checking account. Also no minimums to sign up and no minimums to maintain the account. They have a helpful website and online chat was excellent. It was super easy. I wish I had known about them years ago! Only drawback for me is that they cannot set up a business account, so I’ll have to keep that at another bank, but I don’t use that one much now anyway.

  • Liz

    I just set up a USAA Checking Account, after realizing that BofA has been charging me 3% for every foreign withdrawal, on top of the $5 they’ve always charged me (not to mention that I’ve been in a country that uses US dollars plus its own currency, and BofA charges me $5 for each currency I take out, even though it’s within the same ATM session…grr). I’ve had a USAA credit card since I was 18, and like it, so it was easy to set up the checking account (I used to have a Schwab account, and didn’t like them…though zero fees does sound pretty enticing!). USAA told me that they only charge 1% foreign transaction fee and no ATM fees; in fact they will refund me any fees charged by the ATM I am using, up to $15 per month. I have yet to test it out, but given that they will refund me fees imposed by the other bank’s ATM, and it is basically only an online bank, I’d have to say that your claim that USAA charge $2 to withdraw from a foreign ATM is incorrect.

    • NWjohn

      Thanks Liz, you’re right. We included the $2 fee as the amount you’d pay once you went over USAA’s limit of 10 foreign ATM fees per month, but we see how that may have been misleading and made an edit in the table above.

      • Liz

        Oh I see, thanks for clarifying that; USAA does mention the 10 atm withdrawals per month in their materials. Sooo…either they didn’t tell me about the $2 fee or I forgot, haha. It’s definitely good to keep that in mind while travelling!! Thanks for compiling this list, so helpful!

  • Liz

    I just set up a USAA Checking Account, after realizing that BofA has been charging me 3% for every foreign withdrawal, on top of the $5 they’ve always charged me (not to mention that I’ve been in a country that uses US dollars plus its own currency, and BofA charges me $5 for each currency I take out, even though it’s within the same ATM session…grr). I’ve had a USAA credit card since I was 18, and like it, so it was easy to set up the checking account (I used to have a Schwab account, and didn’t like them…though zero fees does sound pretty enticing!). USAA told me that they only charge 1% foreign transaction fee and no ATM fees; in fact they will refund me any fees charged by the ATM I am using, up to $15 per month. I have yet to test it out, but given that they will refund me fees imposed by the other bank’s ATM, and it is basically only an online bank, I’d have to say that your claim that USAA charge $2 to withdraw from a foreign ATM is incorrect.

  • Gene

    @nerdwallet
    used my schwab investor checking to withdraw $ in mexico.
    but the ATM fee was not charged separately. the ATM fee was included in the transaction amount.
    -any idea if schwab will reimburse this?

    thanks

  • Gene

    @nerdwallet
    used my schwab investor checking to withdraw $ in mexico.
    but the ATM fee was not charged separately. the ATM fee was included in the transaction amount.
    -any idea if schwab will reimburse this?

    thanks

  • Bernie Bucinskas

    Does anyone know how PNC is with international travel…specifically Germany?

    • kaite

      When I lived in Germany, I was able to withdraw money from any ATM using my PNC bank card without any fee. I just had to make sure I had an average monthly amount of $1500 in my checking account. I dont know if they’ve change their policy since I went abroad (2010-2011), but it wont hurt to call and double check. But cash was the best way to pay in Germany–very few Germans ever paid with cards.

  • Bernie Bucinskas

    Does anyone know how PNC is with international travel…specifically Germany?

  • RTHIRU

    Can you also write about Fidelity Cash Management Account?

  • RTHIRU

    Can you also write about Fidelity Cash Management Account?

  • http://www.RawTravel.tv Raw Travel

    HSBC is probably the most misleading bank on the list. The so called “world’s bank” is probably the “world’s worst bank”, at least in my experience. They’ve left me stranded at least 3 times when traveling (and after informing them ahead of time of travel dates and destinations as I do for all my banks) and most recently when they neglected to send me a new debit card when it had expired, or actually they sent one, just to the wrong address…. months ago. Ironically, I had opened an account with HSBC specifically because I assumed, based on their tag line, there was some truth to the “World’s Bank” moniker. I closed my account yesterday. If looking for a good international bank, I highly recommend you do serious due diligence before signing up with HSBC and don’t take their “world’s bank” claim” on face value. i found them to be incompetent at best and misleading at worst.

  • http://www.RawTravel.tv Raw Travel

    HSBC is probably the most misleading bank on the list. The so called “world’s bank” is probably the “world’s worst bank”, at least in my experience. They’ve left me stranded at least 3 times when traveling (and after informing them ahead of time of travel dates and destinations as I do for all my banks) and most recently when they neglected to send me a new debit card when it had expired, or actually they sent one, just to the wrong address…. months ago. Ironically, I had opened an account with HSBC specifically because I assumed, based on their tag line, there was some truth to the “World’s Bank” moniker. I closed my account yesterday. If looking for a good international bank, I highly recommend you do serious due diligence before signing up with HSBC and don’t take their “world’s bank” claim” on face value. i found them to be incompetent at best and misleading at worst.

  • Bob Rossi

    Does anyone know if BOA has reverted to their old policy of only charging $5 per international ATM transaction (waived if a partner bank is used) and no foreign transaction fee. I was looking at their updated fee schedule (effective 2/6/15), and it only mentions the $5 fee, with no mention of a foreign transaction fee. Of course, it does say that there might be other fees, and to consult the booklet that came with your debit card. I found mine, and it list a 3% fee for purchases in foreign currency, but no fee for ATM withdrawals.

    • Propellor1969

      I can tell you from a recent experience (last week in Mexico). In the past, I could use a Santander Bank ATM and have no ATM fee and no international transaction fee. After using my card at a Santander ATM, I noticed a transaction fee online of 3% of total withdrawal. I called the bank. Apparently, they changed their policies last spring. If you use a partner bank, they won’t charge the ATM fee, but will charge 3% of total. On a plus side, they did refund the earlier fees as a courtesy.

  • Bob Rossi

    Does anyone know if BOA has reverted to their old policy of only charging $5 per international ATM transaction (waived if a partner bank is used) and no foreign transaction fee. I was looking at their updated fee schedule (effective 2/6/15), and it only mentions the $5 fee, with no mention of a foreign transaction fee. Of course, it does say that there might be other fees, and to consult the booklet that came with your debit card. I found mine, and it list a 3% fee for purchases in foreign currency, but no fee for ATM withdrawals.

  • Sean

    I have a Capitol One 360 debit card with the MasterCard logo and when I called Capitol One to inquire if there was a foreign transaction charge, they referred me to MasterCard who said that 1% is always currently charged, which can change. So there is a 1% foreign transaction charge if you use your Capitol One 360 debit card.
    Also Capitol One 360 told me that they do not put a separate line item on your statement to show the 1% fee, it’s included in total amount.

    • Miguel

      I’m planning a trip abroad and I spent an entire day researching all of this. I was told that MasterCard does not charge a foreign transaction fee. I was directed by a message from MasterCard that the only foreign currency fees charged would be by the foreign ATM surcharge by the ATM operator. This stuff is so confusing I spent an entire day getting mixed messages from everyone.

      • Gary Lin

        I called Capitalone 360 a few days again, regarding ATM withdrawals internationally. They said there’s a 3% transaction fee, unless you have a high yield checking account, where they will reimburse back up to $15. CapitalOne has a travel credit card that has no transaction fee when making a purchase but for cash advance, will have a $10 fee for that.

      • Gary Lin

        I called Capitalone 360 a few days again, regarding ATM withdrawals internationally. They said there’s a 3% transaction fee, unless you have a high yield checking account, where they will reimburse back up to $15. CapitalOne has a travel credit card that has no transaction fee when making a purchase but for cash advance, will have a $10 fee for that.

  • Sean

    I have a Capitol One 360 debit card with the MasterCard logo and when I called Capitol One to inquire if there was a foreign transaction charge, they referred me to MasterCard who said that 1% is always currently charged, which can change. So there is a 1% foreign transaction charge if you use your Capitol One 360 debit card.
    Also Capitol One 360 told me that they do not put a separate line item on your statement to show the 1% fee, it’s included in total amount.

  • SilverMom

    My neighbor who travels internationally more often than I do warned me that Capital One may not charge a fee for international transactions, BUT they don’t use the standard exchange rate! So they are charging you, but just not being truthful about it. When I talked to CitiBank today, she claimed that every MasterCard or Visa card is charged a certain percentage by those institutions. If we can’t trust companies to tell the truth and the whole truth, then it’s going to take a lot of sleuthing and research to get the answers we all want. Maybe the only way is to compare statements for purchases made internationally on the same day using several different cards?

  • SilverMom

    My neighbor who travels internationally more often than I do warned me that Capital One may not charge a fee for international transactions, BUT they don’t use the standard exchange rate! So they are charging you, but just not being truthful about it. When I talked to CitiBank today, she claimed that every MasterCard or Visa card is charged a certain percentage by those institutions. If we can’t trust companies to tell the truth and the whole truth, then it’s going to take a lot of sleuthing and research to get the answers we all want. Maybe the only way is to compare statements for purchases made internationally on the same day using several different cards?

  • jerrymandel

    You wrote, “Ask your bank if they have any partnerships with other banks in your
    destination country. This way, you can use those ATMs to avoid costly
    fees.” Any other banks besides Bank Of America having foreign “partner” banks to avoid or minimize ATM fees?

  • jerrymandel

    You wrote, “Ask your bank if they have any partnerships with other banks in your
    destination country. This way, you can use those ATMs to avoid costly
    fees.” Any other banks besides Bank Of America having foreign “partner” banks to avoid or minimize ATM fees?

  • LisaS

    I don’t know if I’m overlooking something VERY obvious….but I’m trying to use a Wells Fargo debit/Visa card to pay for a race entry fee to the Paris Marathon next spring. They accept Visa/MasterCard. Transaction is for 99 euros. However, when I input my card info.- it rejected my payment. This is the first international transaction I’ve attempted to do.

    • Erin

      Make sure you call and advise the bank that you’re doing a foreign fee so it isn’t rejected. A lot of the time you have to tell them.

  • LisaS

    I don’t know if I’m overlooking something VERY obvious….but I’m trying to use a Wells Fargo debit/Visa card to pay for a race entry fee to the Paris Marathon next spring. They accept Visa/MasterCard. Transaction is for 99 euros. However, when I input my card info.- it rejected my payment. This is the first international transaction I’ve attempted to do.

  • JOHN JOHNSON

    I live in the Philippines and its really expensive to use my Direct Express ATM debit card, my card is touted by SSA Social Security Administration USA. I am charged 3% international they call it a purchase fee then 3.00 USD atm fee. On top of these charges the local Banks such as BPI, BDO,PNB most all charge 200 pesos as a international ATM card fee. I asked BPI who charges the ATM FEE, they sent me an email saying that ” MASTERCARD” SETS THE FEES AND THE ATM WITHDRAW EXCHANGE RATE. When I called MasterCard and also emailed them they replied, “NO” they do not set the exchange rate or the ATM withdraw fee.MasterCard says they do charged all banks and other a 1% fee and its up to the bank if they will charge you or not.The 200 pesos is hidden in the total amount you withdraw so you have no idea the exchange rate your being charged.If you ask any bank to do a over the counter atm withdraw they tell you no they don’t do that. The bottom line is does anyone know how I can open a debit atm card that does not charge so much for fees.To be honest the Direct Express Card that is charging me 3% international fees plus 3.00 USD atm fee is out right expensive.expensive. Mastercard charges them 1% and they charge us on SSA 3% I can see 2% but wow and SSA lets them get by with it.

  • JOHN JOHNSON

    I live in the Philippines and its really expensive to use my Direct Express ATM debit card, my card is touted by SSA Social Security Administration USA. I am charged 3% international they call it a purchase fee then 3.00 USD atm fee. On top of these charges the local Banks such as BPI, BDO,PNB most all charge 200 pesos as a international ATM card fee. I asked BPI who charges the ATM FEE, they sent me an email saying that ” MASTERCARD” SETS THE FEES AND THE ATM WITHDRAW EXCHANGE RATE. When I called MasterCard and also emailed them they replied, “NO” they do not set the exchange rate or the ATM withdraw fee.MasterCard says they do charged all banks and other a 1% fee and its up to the bank if they will charge you or not.The 200 pesos is hidden in the total amount you withdraw so you have no idea the exchange rate your being charged.If you ask any bank to do a over the counter atm withdraw they tell you no they don’t do that. The bottom line is does anyone know how I can open a debit atm card that does not charge so much for fees.To be honest the Direct Express Card that is charging me 3% international fees plus 3.00 USD atm fee is out right expensive.expensive. Mastercard charges them 1% and they charge us on SSA 3% I can see 2% but wow and SSA lets them get by with it.

  • Morgan

    The captial one 360 checking DOES include foreign transaction fees according to their frequently asked questions page under “fees”. I would update this post. My husband and I almost opened up an account!!

  • Morgan

    The captial one 360 checking DOES include foreign transaction fees according to their frequently asked questions page under “fees”. I would update this post. My husband and I almost opened up an account!!

  • Vladimir K.

    Last week (June 2015) we cashed out from ATM using Capital One regular debit card. Capital One charged us for transaction fee 3% plus atm fee plus foreign bank atm fee. Capital One debit card is not friendly and sucking overseas.

  • Vladimir K.

    Last week (June 2015) we cashed out from ATM using Capital One regular debit card. Capital One charged us for transaction fee 3% plus atm fee plus foreign bank atm fee. Capital One debit card is not friendly and sucking overseas.

  • Vladimir K.

    I just called TD bank and found that there are charges for overseas transaction using ATM debit card of the TD bank. They charge you $3 and 3% international transaction fee using your TD regular standard debit card if you have TD regular or simple checking account. The nerdwallet provided incorrect information about the TD bank charges.

    • PRR

      If you have the right type of account (you have to maintain a $2500 balance) TD bank has no FTF (they may still pass on the FTF from their clearing house, I’m not sure) and they will reimburse foreign ATM fees. HOWEVER and it’s a biggie, they do NOT offer chip technology in their ATM cards, only in their credit cards. So not so very useful

      • Vladimir K.

        Thank you for updates. I am not going to open TD account anyway because TD accounts are not suitable to my needs. U.S. debit cards are outdated and old fashioned in security system without a security chip. All U.S. banks are looking ways to charge us and make a profit after our foreign transactions. I realized that the debit card is worthless during travel because of expensive banking charges and outfit in other countries. Europe will not recognize the U.S. old fashioned outdated debit card anyway. Better to use a credit card that offers no foreign transaction fees.

      • Vladimir K.

        Thank you for updates. I am not going to open TD account anyway because TD accounts are not suitable to my needs. U.S. debit cards are outdated and old fashioned in security system without a security chip. All U.S. banks are looking ways to charge us and make a profit after our foreign transactions. I realized that the debit card is worthless during travel because of expensive banking charges and outfit in other countries. Europe will not recognize the U.S. old fashioned outdated debit card anyway. Better to use a credit card that offers no foreign transaction fees.

  • Vladimir K.

    I just called TD bank and found that there are charges for overseas transaction using ATM debit card of the TD bank. They charge you $3 and 3% international transaction fee using your TD regular standard debit card if you have TD regular or simple checking account. The nerdwallet provided incorrect information about the TD bank charges.

  • Francis Mitchell

    I don’t know about the foreign transaction fee with TD, I don’t think there are any, however, no chip system, and I was stranded in Europe without my Debit card working (yeah, I called ahead and told them I was traveling). There was nothing they said they could do about it…so, in Europe and can’t access cash…TD did nothing to help me, left me stranded over there… I travel all the time…if you travel, I suggest not using TD

    • friedribs

      I just used my Capital One debit card without a chip at numerous ATMs in Germany and Austria, without a problem — so chipless cards aren’t necessarily a problem at least. (and no fees: no flat ATM fee, and no extra percentage — got the same rate as a Google lookup for that day)

      BTW, this was not a Capital One 360 card, just the original Capital One, with no Visa or MasterCard logo, just a Cirrus network logo on the back.

  • Francis Mitchell

    I don’t know about the foreign transaction fee with TD, I don’t think there are any, however, no chip system, and I was stranded in Europe without my Debit card working (yeah, I called ahead and told them I was traveling). There was nothing they said they could do about it…so, in Europe and can’t access cash…TD did nothing to help me, left me stranded over there… I travel all the time…if you travel, I suggest not using TD

  • PRR

    I just had a long talk with Capitol One. They assured me they don’t charge a foreign transaction fee…however…MasterCard tacks one on that they don’t mention. I believe many of the cards that claim to have no FTF make that claim because they don’t ADD an FTF to the amount that comes through, but they pass the 1% or so clearing house fee (e.g. MasterCard, Visa etc.) on to you. My understanding is that Schwab Bank does not do this, and they reimburse ALL atm fees.

    • jellie1

      I don’t think that’s correct. The MasterCard/Visa clearinghouses charge a 1% fee for all transactions. The banks or card issuers usually pass on the fee to the customer, but most of them will mark it up to 3% or so. Any cards that don’t charge a foreign transaction fee, including Capital One and Schwab, pay for the 1% fee themselves. At least that’s my understanding. When Schwab says it reimburses all ATM fees, that includes the fee the ATM owner charges.

  • PRR

    I just had a long talk with Capitol One. They assured me they don’t charge a foreign transaction fee…however…MasterCard tacks one on that they don’t mention. I believe many of the cards that claim to have no FTF make that claim because they don’t ADD an FTF to the amount that comes through, but they pass the 1% or so clearing house fee (e.g. MasterCard, Visa etc.) on to you. My understanding is that Schwab Bank does not do this, and they reimburse ALL atm fees.

  • Scott

    I have never been to a country that charged ATM fees. Only the United States. Most places in Europe will charge a international fee, but USAA refunds this. Granted there were a lot of countries I went to that I never visited an ATM. International fees are charge by visa/master card everything else is on you bank folks. You might want to check out USAA they refund all ATM and international transaction fees. I will be a member for life!