Best No Foreign Transaction Fee Credit Cards in Canada
Most Canadian credit cards charge a foreign transaction fee when you make a purchase in another currency. That extra charge is typically around 2.5%, which means a $1,000 purchase abroad could cost you about $25 more before interest ever enters the picture.
Because relatively few Canadian personal credit cards waive foreign transaction fees, this page includes all major options currently available, along with notes on the kinds of travellers or spenders each may suit best.
Compare no-FX fee options
| Card | NerdWallet rating | Annual fee | Intro offer | Rewards rate | Apply Now |
|---|---|---|---|---|---|
| Scotiabank Gold American Express® Card | APPLY NOW on Scotiabank's website | ||||
 APPLY NOW on Scotiabank's website | 5.0/5 | $120 | Up to 50,000 Points | 1x-6x Points | |
| Scotiabank Passport® Visa Infinite +* Card | APPLY NOW on Scotiabank's website | ||||
 APPLY NOW on Scotiabank's website | 5.0/5 | $150 | Up to 35,000 Points | 1x-3x Points | |
| Scotiabank Passport® Visa Infinite Privilege* Card | APPLY NOW on Scotiabank's website | ||||
 APPLY NOW on Scotiabank's website | 4.7/5 | $599 | Up to 80,000 Points | 1x-3x Points | |
Methodology
BACK TO TOPHow did we select cards for this roundup?
For this roundup, we focused on cards that meet one core requirement: they do not charge foreign transaction fees on purchases made in another currency.
Then, we evaluated those cards based on annual fees, rewards, insurance, income requirements and overall usefulness for travellers or foreign-currency spenders.
Because the Canadian market for no-FX cards is relatively small, our goal here is completeness rather than a highly selective shortlist. We included all major personal credit cards we found that currently waive foreign transaction fees, then highlighted the kinds of users each may suit best based on factors like:
annual fee
rewards structure
travel perks and insurance
income requirements
whether the card offers broad everyday value or serves a narrower need.
Looking for a broader selection? Start with our guide to the best credit cards in Canada to compare cards by type and need.
Credit cards with no foreign transaction fees in Canada
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Points on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more.
Points for every $1 you spend on dining & food delivery. Includes popular food delivery and food subscriptions.
Points for every $1 you spend at other eligible grocery stores.
Points for every $1 you spend in Canada on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
Points for every $1 CAD you spend in Canada on eligible gas purchases.
Points for every $1 CAD you spend in Canada on eligible daily transit options. Includes rideshares, buses, subway, taxis and more.
Points for every $1 CAD you spend in Canada on eligible select streaming services.
Point for every $1 spent on all other eligible everyday purchases.
A well-rounded rewards earner that stands out for its top-tier rates in popular categories, like groceries and entertainment spending. Its waived foreign exchange fees and travel insurance will appeal to travellers, but there’s no complimentary airport lounge access, just discounted membership to Priority Pass. Best for: Travellers and families who spend big on groceries, restaurants and commuting and want to collect Scene+ points.
Pros
- Generous rewards rates of up to 6x Scene+ points.
- No FX fees.
- Priority Pass airport lounge membership discount.
Cons
- No complimentary airport lounge access.
- Highest earn rate only applies to dollars spent at Sobeys and its subsidiary stores.
- Earn up to $950 in welcome offers, first year rewards and savings value and up to 50,000 bonus Scene+ points.¹
- Earn 6x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
- Earn 5x Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 5x Scene+ points¹ for every $1 you spend in Canada eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia.
- No Foreign Transaction Fee
- Comprehensive Travel Insurance coverage
- AMEX Offers®
- AMEX Front of the Line®
- American Express Invites®
- Complimentary Concierge Services
- Rates, fees and other information are effective as of July 2, 2026. Subject to change.
If you want a no-FX card that still feels useful day to day, the Scotiabank Gold American Express Card stands out. It combines waived foreign transaction fees with strong rewards on common spending categories, which makes it easier to justify even when you’re not travelling.
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Points on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more.
Points for every $1 you spend on other eligible grocery stores, dining purchases, entertainment purchases, and eligible daily transit options (including rideshares, buses, subways, taxis and more).
Point for every $1 spent on all other eligible everyday purchases.
A competitive travel card that earns up to 3x Scene+ points on everyday purchases, and comes with six complimentary airport lounge visits and no foreign transaction fees. While you can earn accelerated points (3x) on travel purchases, they must be made through the Scene+ Travel platform, which may feel limiting for some users. Best for: Frequent travellers who shop regularly at Scene+ partner grocery stores, spend big abroad and are looking for airport lounge access.
Pros
- Free airport lounge membership and six free visits per year.
- No foreign transaction fees.
- Free Avis Preferred Plus membership.
Cons
- An above-average $150 annual fee for a travel card.
- Top earn rate (3x on groceries) only applies to Sobeys and its subsidiary stores.
- Must book through Scene+ Travel platform to earn 3x points on travel.
- Earn up to $1,250 in first year welcome offers, rewards and savings*, including up to 35,000 bonus Scene+ points¹
- Earn 3x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more.
- Earn 2x Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including rideshares, buses, subways, taxis and more).
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases.
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia.
- No Foreign Transaction Fee.
- 6 Complimentary Airport Lounge Access.
- Comprehensive Travel Insurance coverage.
- Visa Infinite* Concierge Services.
- Visa Infinite* Hotel Collection.
- Visa Infinite* Dining and Wine Country program.
- Rates, fees and other information are effective as of Aug 4, 2026. Subject to change.
The Scotiabank Passport Visa Infinite +* Card is one of the more travel-focused no-FX options in Canada. It pairs waived foreign transaction fees with airport lounge access and solid travel coverage, making it a strong fit for frequent travellers who want visible perks beyond just saving on foreign purchases.
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Points on all eligible travel purchases. Plus, earn an extra 3X the points⁷ on hotel bookings, car rentals, and things to do when you book through Scene+ Travel, Powered by Expedia.
Points for every $1 you spend on eligible dining and entertainment.
Point for every $1 you spend on all other eligible purchases.
With a $250 annual travel credit, priority airport services, 10 free airport lounge passes a year and a full suite of travel insurance, this card is built for explorers who don’t mind paying a little extra for luxurious perks. One catch to be aware of: Users must book travel through the Scene+ Travel platform to earn the top rate (6x points), as well as to receive the travel credit. Best for: High earners who travel abroad frequently and don’t mind using the Scene+ Travel portal to get the most out of their rewards.
Pros
- No foreign transaction fees.
- 10 free airport lounge passes per year.
- Full suite of travel insurance.
Cons
- Steep $599 annual fee.
- Restrictive $150,000 minimum annual income requirement.
- $250 travel credit only applies to bookings made on the Scene+ Travel platform.
- Earn up to 80,000 bonus Scene+ points within your first 14 months.¹
- Earn 3X the Scene+ points for every $1 you spend on eligible travel purchases.
- Earn 2X the Scene+ points for every $1 you spend on eligible dining and entertainment.
- Earn 1X the Scene+ points for every $1 you spend on all other eligible purchases.
- Plus, earn an extra 3X the points⁷ on hotel bookings, car rentals, and things to do when you book through Scene+ Travel, Powered by Expedia.
- As the primary cardholder, each year you’ll get a $250 statement credit on your first travel booking with Scene+ Travel, Powered by Expedia.
- Enjoy a $150 reduction of your annual fee with an Ultimate Package account
- No Foreign Transaction Fee
- 10 Complimentary Airport Lounge Access
- Comprehensive Travel Insurance coverage
- Visa Infinite* Concierge Services
- Visa Infinite* Hotel Collection
- Visa Infinite* Dining and Wine Country program
- Rates, fees and other information are effective as of May 1, 2026. Subject to change.
The Scotiabank Passport Visa Infinite+ Privilege Card backs its FX fee waiver with real premium perks, including 10 complimentary lounge passes, a $250 annual travel credit, and hotel and dining perks. It’s a card meant for frequent travellers who will use all of its perks, as evident by its $599 annual fee.
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Points for every $1 you spend on all your eligible purchases.
Scotiabank’s Platinum Amex doesn’t just offer top-tier travel perks — such as emergency medical coverage and airport lounge access — it also comes with a low 9.99% interest rate on purchases and a flat earn rate of 2x Scene+ points per $1 spent. The high $399 annual fee, however, may be too steep for some users. Best for: Frequent travellers who spend big abroad, want airport lounge access and don’t mind using the Scene+ Travel platform to book travel.
Pros
- Low 9.99% APR.
- No foreign transaction fees.
- 10 free airport lounge passes per year.
Cons
- High $399 annual fee.
- Must book through Scene+ Travel platform to earn extra 3x points.
- Earn up to $3,000* in value in the first 14 months, including up to 100,000¹ bonus Scene+ points.
- Plus earn 2X Scene+ points for every $1 spent on all other eligible purchases.
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia.
- No Foreign Transaction Fee
- Comprehensive Travel Insurance coverage
- Mobile Device Insurance coverage
- 10 complimentary Airport Lounge Passes per year
- Platinum VIP Offers+
- American Express Invites®
- Premium Complimentary Concierge Services
- Rates, fees and other information are effective as of July 2, 2026. Subject to change.
The Scotiabank Platinum American Express Card is a premium no-FX option for people who want higher-end travel benefits and broader insurance coverage. Because of this, it makes more sense for frequent travellers than occasional ones. It also has a comparatively low $12,000 minimum personal-income requirement, making the perks much more accessible than some premium cards.
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Cash back on everything: no categories to track, no cap.
The Wealthsimple Visa Infinite+ Credit Card is one of Canada’s strongest flat-rate cash-back cards if you can avoid the fee. You’ll earn 2% cash back on eligible purchases, pay no foreign transaction fees and get a useful package of travel and purchase insurance.
Pros
- Earn 2% cash back on eligible purchases.
- No foreign transaction fees.
- Cash back can be deposited into eligible Wealthsimple accounts.
- Includes travel, purchase and mobile phone insurance.
Cons
- High eligibility requirements.
- No traditional welcome bonus.
- Earn 5% cash back for your first 35 days on the first $10,000 net purchases, then 2% every month after. No complex categories.
- No fees – No annual fee (if you have $100K with us, or a qualifying direct deposit) no FX fees
- Premium insurances and benefits, plus 24/7 travel concierge and access to 1,200 airport lounges, and lifestyle perks like Visa’s Luxury Hotel Collection benefits, the Visa Infinite Dining series events and access to prime-time reservations
- Insurance benefits - Out-of-province travel medical insurance ($1MM); Trip cancellation/interruption insurance (up to $3,000 per trip); Delayed and lost baggage insurance (up to $1,000 per trip); Flight delay insurance; Purchase protection; Mobile phone insurance; Extended warranty; Fraud protection
- Metal card & no digital tap limit
- Free 15-day, 1GB global mobile data plan with Gigsky
- Protection + Security – lock your card instantly, view and change your pin in app, and get notified for every transaction
- Airport lounge access: Enrollment in Visa Airport Companion Program
- Access to prime-time reservations at top-tier restaurants via OpenTable
True no-FX cards in Canada tend to lean heavily into travel. The Wealthsimple Visa Infinite+* stands out as a more straightforward option: it earns 2% cash back on eligible purchases and does not charge foreign transaction fees, making it especially compelling for people who already use Wealthsimple. It also comes with a stellar welcome bonus of 5% cash back in the first 35 days, capped at $10,000 spend. That can give you up to $500 in value.
Heads up: The card’s $20 monthly fee ($240 per year) can be waived, but only if you have at least $100,000 with WealthSimple or set up at least $4,000 per month in direct deposits. It also has relatively high income requirements: $80,000 personal or $150,000 household. Applicants may alternatively qualify with $300,000 in savings or investments, or $25,000 in annual card spend.
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Cash back on all eligible purchases
With 1% cash back on purchases, no foreign exchange fees and no annual fee, this rewards card offers travellers simplicity over luxury perks. Best for: Budget-conscious travellers who spend big abroad.
Pros
- No annual fee.
- No foreign exchange fees.
- No caps on cash back.
Cons
- No travel insurance.
- Not available in Quebec.
- Receive 1% cash back¹ on every eligible purchase made with your Home Trust Preferred Visa*.
- CashBack Rewards earned are displayed every month on your statement, and the total amount earned for the previous year will be provided to you as a credit in January.
- No annual fee.
- Use your Home Trust Preferred Visa on purchases made in foreign currencies without added foreign exchange fees², whether you’re spending while abroad or shopping online at home.
- Worldwide access from anywhere you are, for hotel and travel reservations or shopping in-store and online. Access cash at over 2.5 million ATMs in more than 200 countries and territories worldwide.
- Manage your Visa account easily and securely — at any time, and from anywhere. Get your balance and view your transactions at Home Trust Visa Online.
- Purchase Security³: insures eligible items against theft or damage for 90 days from the date of purchase.
- Manage your Home Trust Visa account easily and securely — at anytime from anywhere in the world. View the card’s balance, transactions and pay bills online at Home Trust Visa Online.
- Guaranteed hotel reservations — with this international travel credit card, you can request a guaranteed hotel reservation anywhere in the world and your room will be held for you even if you arrive late.
- Preferred rates: 21.99% for purchases and cash advances.
- To be eligible, $15,000 individual annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live. You cannot currently be in bankruptcy or be a resident of Quebec.
The Home Trust Preferred Visa fills an important role in this market because it has no annual fee. It won’t match premium cards on perks or insurance, but it’s one of the clearest options for people who mainly want to avoid extra costs when spending in another currency. Note: this card is not available to Quebec residents.
The Home Trust Preferred Visa fills an important role in this market because it has no annual fee. It won’t match premium cards on perks or insurance, but it’s one of the clearest options for people who mainly want to avoid extra costs when spending in another currency. Note: this card is not available to Quebec residents.
A strong non-credit option for foreign spending
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Cash back on everything you spend.
This nifty prepaid card has no annual fee, earns 0.5% cash back on purchases, doesn’t charge a foreign transaction fee and reimburses ATM fees in Canada. But you can only fund the card from an EQ Personal Account. Best for: Travellers who bank with EQ and prefer using cash.
Pros
- No annual fee.
- No foreign exchange fees.
- Earn 0.5% cash-back on purchases.
Cons
- Must have an EQ Personal Account to apply.
- International ATM fees are not reimbursed.
- Customers who add and maintain qualifying recurring direct deposits of at least $2000/month to a Personal Account or Joint Account are eligible to earn a bonus interest rate of 2.75% (the Base Rate plus an additional 1.75%) for the eligible accounts (the Personal Account, Joint Account, and the EQ Bank Card balance). Conditions apply. Please review the EQ Bank Bonus Interest Offer Terms and Conditions for details.
- Free withdrawals from any ATM in Canada.***
- Earn 0.50% cash back on every purchase.***
- Earn 1.00% interest right up until you spend.
- No FX fees, monthly fees, or other hidden fees.
- Use your card anywhere in the world where Mastercard® is accepted.
- Open and fund an EQ Bank Savings Plus Account to start.
The EQ Bank Card is a prepaid card that doesn’t charge foreign transaction fees, so foreign-currency purchases are converted at Mastercard’s exchange rate without an added EQ Bank markup. It earns 0.5% cash back on purchases, including foreign-currency purchases, and has no annual fee or credit check.
Learn more about no foreign transaction fee credit cards
BACK TO TOPWhat is a foreign transaction fee?
A foreign transaction fee is a credit card fee that issuers may apply when you make a purchase in a currency other than Canadian dollars. In Canada, that fee is often around 2.5%.
A no-FX card can help if you travel internationally, shop from retailers that charge in another currency or make frequent online purchases from outside Canada. Even small foreign-currency purchases can become more expensive over time once the typical 2.5% fee is added.
Are foreign transaction fees the same as the exchange rate?
No. The exchange rate determines how your purchase is converted into Canadian dollars. A foreign transaction fee is an extra charge added by the issuer on top of that conversion.
How much can I save with a no-FX credit card?
We’ll use the Scotiabank Gold American Express card as an example. It doesn’t charge the typical 2.5% foreign transaction fee, though foreign-currency purchases are still converted into Canadian dollars at the applicable exchange rate.
In our example, Sharon wants to visit Japan. She plans on spending about $3,000 CAD on the trip. With a typical credit card, a 2.5% foreign transaction fee would add about $75 to that total.
The Gold Amex earns 1 Scene+ point per dollar spent on foreign-currency purchases once they are converted into Canadian dollars. At the base earn rate, Sharon would earn roughly 3,000 points, worth about $30 when redeemed at 1 cent per point.
That means her total value could be about $105: $75 in avoided FX fees plus $30 in rewards. A rewards card that charges a 2.5% FX fee would need to earn more than 2.5% back on that spending to come out ahead.
» MORE: Will credit card insurance cover you on your next trip?
How to choose a credit card with no foreign exchange fees
Because there are not too many no-FX fee cards to choose from, here are some criteria to look at when evaluating what’s best for you. Mostly, your options are travel cards, though cash back cards do exist (with lower average returns).
Travel perks: Look for things like airport lounge passes, free checked bags and airport benefits to make your trips that much smoother.
Insurance coverage: Having insurance provides both protection against the unexpected and peace of mind so you can enjoy your trip.
Network acceptance: A lot of these no-FX fee cards are under American Express, so if you do go with one of them, make sure your card is accepted where you travel.
Cash access: No-FX treatment does not make credit-card cash advances cheap. Cash advances can still trigger fees and interest immediately, so a debit or prepaid card may be a better choice if you expect to need cash abroad.
Decide what rewards work for you: Depending on your rewards currency, you may be limited to a certain airline or booking portal. Look for a card that covers your preferred destinations, or go with a cash back card (though these usually offer a lower return).
Annual fee: Make sure the card’s rewards, insurance and travel perks provide enough value to justify its fee based on how you actually spend.
Alternatives to no-FX credit cards
BACK TO TOPNot every card that helps with foreign-currency spending is a true no-FX credit card. Some products avoid foreign transaction fees in other ways, some soften the impact with rewards, and others aren't even credit cards at all.
Prepaid cards with no FX fees
If you want to avoid foreign transaction fees but don't need a traditional credit card, a prepaid card can be a practical alternative. These cards can work well for travel budgeting, online shopping in foreign currencies or as a backup payment option abroad.
What prepaid cards can help you avoid FX fees?
Some prepaid cards can help you avoid foreign transaction fees without requiring a credit check or traditional credit application. They can be best for travellers who want tighter spending control or a backup payment method.
Examples may include:
EQ Bank Card
KOHO prepaid cards on its Extra and Everything plans, which waive KOHO’s 1.5% FX fee.
Another popular option is the Wise card, which lets you hold and spend in multiple currencies. Wise uses the mid-market exchange rate and charges a separate, transparent conversion fee when a conversion is needed. It does not charge its own ATM withdrawal fee on the first $100 CAD withdrawn each month, though the ATM operator may still charge a fee.
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The Wise Card is a debit card linked to a Wise multi-currency account. It’s strongest for holding, converting and spending in foreign currencies, with support for 40+ currencies, use in 160 countries and territories, no monthly subscription fee and transparent conversion fees. Best for: People who need to hold, convert or spend in multiple currencies.
Pros
- Hold and convert 40+ currencies.
- Useful for spending abroad or managing foreign-currency balances.
- No monthly subscription fee.
- Free digital card option.
Cons
- Conversion fees may apply.
- Free ATM withdrawal allowance is limited for Canadian cardholders.
- Canadian-issued Wise cards cannot be used for local ATM withdrawals in Canada.
- Pay online and in stores in over 40 currencies and 160 countries.
- Freeze and unfreeze your card instantly.
- Generate digital cards for extra peace of mind.
- Get notifications for every transaction.
- Wise protects your details through strict standards and 2FA.
- Dedicated support in 14 languages.
- International safeguarding: Your money is held with a group of established financial institutions, separate from Wise’s.
- No annual fee.
U.S.-dollar credit cards
If most of your foreign spending is specifically in U.S. dollars, a USD credit card may be more useful than a general no-FX card. These cards are designed for U.S.-dollar purchases, but they are not the same thing as waiving foreign transaction fees across all foreign currencies.
When does a U.S.-dollar credit card make more sense than a no-FX card?
A USD credit card may be more practical if most of your foreign spending happens in U.S. dollars and you have an easy way to pay the balance in USD. If you spend across multiple foreign currencies, a general no-FX card is usually the cleaner solution.
Examples may incldue:
CIBC U.S. Dollar Aventura Gold Visa
RBC U.S. Dollar Visa Gold
Scotiabank U.S. Dollar Visa.
Cards that help offset FX fees with rewards
Some cards charge foreign transaction fees but offer boosted rewards on foreign-currency purchases. They can soften the hit of spending abroad, but they are not true no-FX cards since the issuer’s conversion fee still applies.
Can rewards ever cancel out foreign transaction fees?
Sometimes, but not always. Compare the card’s reward value with its FX fee before assuming you will come out ahead. The exchange rate still applies either way.
Examples may include:
Amazon.ca Rewards Mastercard: Eligible Prime members earn 2.5% back on foreign-currency purchases, which can offset its 2.5% FX fee. Non-Prime members earn 1% back on those purchases.
Rogers Red World Elite Mastercard: Earns 3% cash back on eligible U.S.-dollar purchases, but still charges a 2.5% FX fee. That can leave a modest net return, but it is not the same as a card that waives FX fees.
Frequently asked questions
Is a no-FX credit card worth it?
It can be, especially if you travel often, spend regularly in foreign currencies or shop online from retailers outside Canada. A no-FX card won't always be the best fit overall, but it can save you money if foreign-currency spending is a regular part of how you use credit.
How does dynamic currency conversion work?
Some merchants let you choose whether to pay in the local currency or Canadian dollars. This is called dynamic currency conversion, or DCC.
If you choose to pay in Canadian dollars, the merchant or its payment provider sets the exchange rate. This rate is often considerably higher than the standard rate.
If you choose the local currency, Visa or Mastercard converts the purchase into Canadian dollars. Your card issuer may then add a foreign transaction fee. A no-FX card removes that added issuer fee, but not the exchange rate itself.
Are prepaid cards the same as no-FX credit cards?
No. Some prepaid cards also avoid foreign transaction fees, but they are not credit cards. They can still be useful, especially for travel or budgeting, but they belong in a different category.
Is a U.S.-dollar credit card the same thing as a no-FX card?
Not exactly. A USD credit card can help you avoid conversion costs on U.S.-dollar purchases, but it is not a general solution for spending in other foreign currencies. You will also need a U.S. dollar bank account or a source of USD funds.
Do all travel credit cards waive foreign transaction fees?
No. Many travel credit cards still charge foreign transaction fees. Travel rewards and no-FX treatment often overlap, but they are not the same feature.
What matters most when comparing no-FX cards?
The biggest factors are usually annual fee, rewards, insurance, income requirements and whether the card still makes sense for how you spend when you're not abroad.
DIVE EVEN DEEPER
Shannon Terrell