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, including Chase, TD Bank and Citibank, charge a person with a basic checking account to make an international ATM withdrawal or debit card purchase.
Note that some banks don’t charge these fees at all. (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
Bank of Americareview
|3%||$5 + 3% of amount|
Navy Federal Credit Unionreview
|0.8% or 1%, depending on whether there's a currency conversion||$1 + 0.8% or 1% of amount
Alliant Credit Unionreview
|1%||1% of amount
Alliant reimburses up to $20 monthly for out-of-network ATM fees, including abroad
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.
Banks with no debit card foreign transaction or ATM fees
Capital One 360
Read full review
Charles Schwab Bank
Read full review
Updated Sept. 7, 2017.