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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.
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 Berkeley, California.
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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. In fact, 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 55,000 Allpoint® ATMs. (There is a $2.50 charge on out-of-network ATMs.)
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
1%.
1% of amount.
Alliant reimburses up to $20 monthly for out-of-network ATM fees (withdrawal fees only; does not apply to 1% fee), including abroad.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
2%.
$5 + 2%.
*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.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
3.2% (3% for transaction and 0.2% for currency conversion).
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
1.1% (0.9% for the transaction plus 0.2% for currency conversion).
1.1% of amount.
For eligible accounts, LendingClub reimburses all fees incurred from ATM usage (but does not include foreign exchange fees), including internationally.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
3%.
$5.
Foreign fees by institution
Alliant Credit Union
• Debit purchase: 1%.
• ATM withdrawal: 1% of amount;
Alliant reimburses up to $20 monthly for
out-of-network ATM fees (withdrawal fees only;
does not apply to 1% fee), including abroad.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
*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. And people with premium checking accounts might be eligible for certain fee waivers.
Click here to expand and compare fees at nearly 15 more national and online banks
Institution
Bank5 Connect • Debit purchase: 0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency. • ATM withdrawal: 0.8% or 1% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
BMO Harris Bank • Debit purchase: 2.8%. • ATM withdrawal: $3 + 2.8% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Citizens Bank • Debit purchase: 3%, depending on whether purchase made in U.S. dollars or foreign currency. • ATM withdrawal: $3 + 3% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Connexus Credit Union • Debit purchase: Up to 1.5%. • ATM withdrawal: Up to 1.5% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Consumers Credit Union • Debit purchase: 0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency. • ATM withdrawal: 0.8% or 1%
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Fifth Third Bank • Debit purchase: 3.2% (3% for transaction and 0.2% for currency conversion). • ATM withdrawal: $5 + 3.2% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
M&T Bank • Debit purchase: 50 cents or 3%, whichever is greater. • ATM withdrawal: $5 or 3%, whichever is greater.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
PenFed Credit Union • Debit purchase: Up to 2%. • ATM withdrawal: $1.50 + up to 2% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Radius Bank • Debit purchase: 1.1% (0.9% for the transaction plus 0.2% for currency conversion). • ATM withdrawal: 1.1% of amount; for eligible accounts, Radius reimburses all fees incurred from ATM usage (but does not include foreign exchange fees), including internationally.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Regions Bank • Debit purchase: 3%. • ATM withdrawal: $5 + 3% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Truist • Debit purchase: Up to 3%. • ATM withdrawal: $5 + up to 3% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
U.S. Bank • Debit purchase: 3%. • ATM withdrawal: $2.50 + 3% of amount.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
What to do if a fee seems too expensive
You may want to consider switching to a bank with no foreign transaction fees, listed above. Travelers can also benefit from a credit card that skips these fees, especially if they go abroad frequently.
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.
3.75%SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 01/04/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
3.30%3.30% APY (annual percentage yield) with $0 minimum balance to earn stated APY. Accounts must have a positive balance to remain open. APY valid as of 12/21/2022.
Min. balance for APY
$0
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.
3.75%Annual percentage yield (variable) is as of 12/09/2022.
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.
2.50%SoFi members with direct deposit can earn up to 3.75% annual percentage yield (APY) on savings balances (including Vaults) and 2.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 3.75% APY for savings and 2.50% APY for checking balances. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 01/04/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
1.25%Receive monthly direct deposits totaling $1,500 or more to earn 0.40% APY. Use your Axos Visa® Debit Card for a total of 10 transactions per month (min $3 per transaction) or sign up for Account Aggregation/Personal Finance Manager (PFM) in Online Banking to earn 0.30% APY. Maintain an average daily balance of $2,500 per month in an Axos Managed Portfolios Invest Account to earn 0.20% APY. Maintain an average daily balance of $2,500 per month in an Axos Self Directed Trading Invest Account to earn 0.20% APY. Use your Rewards Checking account to make your full monthly Axos consumer loan payment to earn 0.15% APY.
Monthly fee
$0
Money market accounts pay rates similar to savings accounts and have some checking features.
Money market accounts pay rates similar to savings accounts and have some checking features.
