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What Banks Charge for Debit Foreign Transaction Fees
The fees are often 1% to 3% of the amount of a purchase or ATM withdrawal.
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Spencer Tierney is a consumer banking writer at NerdWallet. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is based in Oakland, California.
Sara Clarke is a former Banking editor at NerdWallet. She has been an editor and project manager in newsrooms for two decades, most recently at U.S. News & World Report. She managed projects such as the U.S. News education rankings and the Best States rankings. Sara has appeared on SiriusXM Business Radio and iHeartMedia’s WHO Newsradio and has been quoted in The Salt Lake Tribune, The St. Paul (Minnesota) Pioneer Press and other outlets. She is based near Washington, D.C.
Jeanne is a former NerdWallet writer focusing on credit, debt and loans. She has covered financial topics for more than 20 years, including stints at Fortune and Money magazines.
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.
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 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® 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.)
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
3.2% (3% for transaction and 0.2% for currency conversion).
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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.
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.
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.
4.00%SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
4.75%*Current promotional rate; annual percentage yield (variable) is 4.25% as of 11/8/24, plus a .50% boost available as a special offer with qualifying deposit. $10 to start. Terms apply; if the base APY increases or decreases, you’ll get the .50% boost on the updated rate. Cash Reserve is only available to clients of Betterment LLC, which is not a bank; cash transfers to program banks (www.betterment.com/cash-portfolio) conducted through clients’ brokerage accounts at Betterment Securities. Subject to certain conditions.
Min. balance for APY
$0
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
4.25%Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal non-IRA accounts only. Fees may reduce earnings. For CD accounts, a penalty may be imposed for early withdrawals. After maturity, if your CD rolls over, you will earn the offered rate of interest in effect at that time. Visit synchronybank.com for current rates, terms and account requirements. Member FDIC
0.10%Advertised Annual Percentage Yield (APY) is variable and accurate as of 07/01/2024. Rates are subject to change at any time before or after account opening.
