Below, we compare the amount financial institutions, including Chase, TD Bank and Citibank, charge a person with a basic checking account to make an international ATM withdrawal or debit card purchase. (Skip ahead to see banks that don’t charge foreign transaction fees.)
Foreign transaction fees by bank or credit union
|Institution||Foreign debit card purchase cost*||Foreign ATM withdrawal cost**|
|3%||$5 + 3% of dollar amount (For balance inquiries at ATMs, it's $2.50.)|
|Up to 1%||Up to 1% of amount|
|3%||$2.50 non-Citibank ATM fee + 3% of amount
|3%||$5 + 3% of amount|
|0.8% or 1%, depending on whether there's a currency conversion||$1 + 0.8% or 1% of amount
|1%||1% of amount
Alliant reimburses up to $20 monthly for out-of-network ATM fees, including abroad
Research more about these banks and credit unions at NerdWallet's bank and credit union reviews.
Fees seem too expensive? You may want to consider switching to a bank with no foreign transaction fees, listed below. Travelers can also benefit from a credit card that skips these fees, especially if you go abroad frequently. (Read about how to choose a no foreign transaction fee credit card.)
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.
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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 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.