5 Best Banks for International Travel

Schwab Bank customers who use the Investor Checking Account get fees refunded from any ATM in the world when making cash withdrawals. That kind of feature is usually only available for premium checking accounts at other banks. Another rare perk is that the bank doesn't charge foreign transaction fees.

Pros: - Refunds on all ATM fees worldwide. - No foreign transaction fees. - No minimum balance requirement and no monthly fee.

Cons: - Checking account must be linked to a Schwab One brokerage account (but the account doesn’t have a minimum balance requirement).

Bask Bank, the online division of Texas Capital Bank, has low costs for its bank accounts, including no foreign transaction fees or currency conversion fees for making debit card purchases abroad. The bank doesn’t charge a fee for withdrawals at ATMs in the U.S. or abroad, though it doesn’t refund any ATM owner fees. In contrast, many banks charge a percentage or more to customers’ purchases and ATM withdrawals abroad.

Pros: - No foreign transaction fees. - No ATM fees. - No monthly maintenance fees.

Cons: - No refunds for fees charged by ATM owner. - Fees for wire transfers.

In the U.S., HSBC only offers premium accounts that require a high balance to open. But for those who can swing the balance, this bank can be handy while living abroad. A few features make this bank handy for expats or frequent globetrotters: The bank doesn’t charge foreign transaction fees on debit card purchases; it lets depositors monitor and move money between HSBC accounts in multiple countries; and if you lose your wallet while traveling, you can access up to $10,000 in emergency cash in U.S. dollars or local currency.

Pros: - Can access emergency cash if you lose your wallet while traveling. - No foreign transaction fee on debit card purchases. - Account holders can receive international wire transfers for free.

Cons: - In the U.S., HSBC only offers premium accounts with high minimum balance requirements. - Outgoing international wire transfers may come with a fee if the receiving account is not also an HSBC Premier account holder. - Mobile apps are poorly rated.

While many banks offer customers a way to send international wire transfers, few do it as elegantly as Citibank. The bank offers free international transfers to other Citi accounts through the Citibank Global Transfers service.

Plus, if you need cash while you’re abroad, Citibank offers withdrawals at its ATMs in more than 20 countries. And if you're pressed for time to get currency before a trip, the bank will deliver foreign currency by the next business day to a Citibank branch, your home or office.

Pros: - Foreign currency delivery before a trip. - Free international transfers to other Citi accounts. - Citibank ATMs available in more than 20 countries.

Cons: - Non-premium accounts are subject to out-of-network ATM fees from the ATM owner. - If you need to wire money internationally to someone who doesn’t have a Citibank account, the fee could be as high as $35.

The Revolut account lets you hold more than two dozen currencies in its app and uses a real-time exchange rate. Users can transfer money internationally, exchange currencies in the app and use their debit card for spending abroad. Revolut offers more than 55,000 ATMs worldwide for fee-free withdrawals. One catch is that Revolut will charge a markup fee for transactions on the weekends. There are also three plan options for the Revolut account, two with monthly fees as well as more benefits than the basic plan.

Revolut is a nonbank institution, or neobank, which partners with banks to offer its federally insured accounts.

Pros: - Can withdraw up to £3,000 (or the equivalent in other currency) per 24-hour period. - Can hold money in more than two dozen currencies. - Can send money in more than 70 currencies. - Savings account offers competitive rates, especially for higher-tier plans.

Cons: - Foreign currency exchanges made on the weekends incur a fee. - Withdrawing cash at out-of-network ATMs costs 2% for the plan with no monthly fee. - Premium accounts have a monthly fee of about $10-$17, which can’t be waived.