BEST OF
By Ruth Sarreal and Spencer Tierney
Edited byYuliya Goldshteyn
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Using the right bank can save you money when traveling abroad. When researching the best banks for international travel, features we considered included:
Low wire transfer charges.
Decent currency conversion rates.
International ATM fee reimbursem*nt.
Foreign currency delivery to your home.
Here are our favorite banks for international travel.
+ See a summary of our best banks for international travel
Charles Schwab Bank: Best for using ATMs.
Capital One 360: Best on foreign transaction fees.
HSBC Bank: Best for expats with high balances.
Citibank: Best for wiring money.
Revolut: Best for nonbank multicurrency account.
Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
Using the right bank can save you money when traveling abroad. When researching the best banks for international travel, features we considered included:
Low wire transfer charges.
Decent currency conversion rates.
International ATM fee reimbursem*nt.
Foreign currency delivery to your home.
Here are our favorite banks for international travel.
+ See a summary of our best banks for international travel
Charles Schwab Bank: Best for using ATMs.
Capital One 360: Best on foreign transaction fees.
HSBC Bank: Best for expats with high balances.
Citibank: Best for wiring money.
Revolut: Best for nonbank multicurrency account.
Why you can trust NerdWallet: Our writers and editors follow strict editorial guidelines to make sure our coverage is fair and accurate, so you can choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
Discover the bank accounts that fit your financial goals
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Best Banks for International Travel
| Bank/institution | NerdWallet rating | Learn more |
|---|---|---|
Schwab Bank | Best for Using ATMs | Read review |
Capital One | Best for Foreign transaction fees | Read review |
HSBC | Best for Expats with high balances | Read review |
Citibank, N.A. | Best for Wiring money | Read review |
Revolut | Best for Nonbank multicurrency account | Read review |
Our pick for
Using ATMs
Why We Like It
Schwab Bank customers who use the High Yield Investor Checking Account get fees refunded from any ATM in the world. That kind of perk is usually only available for premium checking accounts at other banks.
Plus, the bank doesn't charge foreign transaction fees.
Pros:- Refunds on all ATM fees worldwide.- No foreign transaction fees.- Account earns interest.- No minimum balance requirement and no monthly fee.- Free travel and emergency assistance services, including emergency messaging, medical and legal referrals, emergency translation and lost luggage location.
Cons:- Checking account must be linked to a Schwab One brokerage account (but the account doesn’t have a minimum balance requirement).
Our pick for
Foreign transaction fees
Why We Like It
Though it’s not the only bank that doesn’t ding you for international purchases, Capital One 360 is a NerdWallet favorite because its fees are low across the board.
Capital One 360 doesn’t charge a foreign transaction fee for using your debit card outside the U.S. or for any transactions made in a foreign currency. If you want to use cash, the bank won’t charge you a fee for taking money out at an ATM (but it also won’t refund you if the ATM owner charges you a fee).
In comparison, many banks charge special fees when you make purchases abroad, or even if you buy something online from a retailer based outside the U.S.
Pros:- No foreign transaction fees.- No ATM fees.- No monthly maintenance fees.
Cons:- No refunds for fees charged by ATM owner.
Our pick for
Expats with high balances
Why We Like It
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.
Pros:- Can access up to $10,000 in emergency cash in U.S. dollars or local currency 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.
Our pick for
Wiring money
Why We Like It
While many banks offer customers a way to send remittances directly without going through a third-party wire transfer service, few do it as elegantly as Citibank, which 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 free withdrawals at its ATMs in more than 20 countries. And if you often find yourself in a hurry before a trip with too much to do, 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.
Our pick for
Nonbank multicurrency account
Why We Like It
The Revolut account lets you hold and send money in more than 30 currencies. It also uses the real exchange rate when you need to exchange currency within its app (as opposed to an exchange rate plus a markup fee). So if you need to pay with your card or get cash in a currency you don’t hold in your Revolut account, you can use your card to pay or make a cash withdrawal and you’ll get the real exchange rate. One catch is that the real exchange rate is only available Monday through Friday – Revolut will charge a markup fee for transactions on the weekends.
Pros:- Can withdraw up to $1,200 fee-free per month at out-of-network ATMs.- Can hold and send money in more than 30 currencies.- 10 free international money transfers per month.- Account earns interest.
Cons:- Foreign currency exchanges made on the weekends incur a fee.- Only money held in Savings Vaults is FDIC-insured.- Premium accounts have a monthly fee of about $10-$17, which can’t be waived.
More top choices for best banks for international travel
BECU: No foreign transaction fee (read full review).
Axos Bank: ATM foreign currency conversion fee reimbursem*nts with World Checking account (read full review).
Navy Federal Credit Union: Branches in nine foreign countries (read full review).
Varo: No foreign transaction fee (read full review).
Wise (formerly TransferWise): Multicurrency account with a debit card that doesn’t charge foreign transaction fees (read full review).
More strategies to keep banking costs down while traveling
Using money abroad can incur costs, but switching banks isn’t your only way to avoid them. Here’s a breakdown of different approaches and accounts to consider:
When spending money abroad:
Try a multicurrency account: Spend and hold different currencies in one account. This option is usually best if you live or work outside the U.S. for extended periods. Two mainstream providers are the financial tech firms Wise and Revolut.
Find a credit card with no foreign transaction fees: For everyday purchases when you can use physical cards or mobile wallets, a travel-friendly credit card can be useful.
When dealing with cash abroad:
Use a debit card with no foreign transaction or ATM fees: This is especially good for cash withdrawals, especially in countries where cash is heavily used. Generally, these debit cards, and the checking accounts they’re connected to, don’t have foreign transaction fees either.
Take advantage of currency exchange services from your bank: For cash you’ll bring on your next trip, see if your bank or credit union has this service since it’s cheaper than using kiosks at the airport.
When sending money abroad:
Consider nonbank money transfers: If you're sending a wire overseas while still in the U.S., companies such as Wise and OFX offer stand-alone transfers internationally that have competitive rates and low to no fees.
When managing wealth abroad:
Look into private banking: Private banking offers a personalized experience for high-net-worth individuals, which can include overseas considerations.
Open an offshore bank account: If you need help managing international business or investments, or if you'll be traveling long term, consider the merits of an offshore bank account.
Last updated on August 19, 2022
Methodology
Methodology for Best Banks for International Travel
We took a close look at over 80 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
Financial institutions and providers surveyed are: Affirm, Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express National Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, BB&T (now Truist), BMO, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Discover Bank, E-Trade, Fifth Third Bank, First Foundation, First Tech Federal Credit Union, FNBO Direct, GO2bank, Golden 1 Credit Union, HSBC Bank, Huntington Bank, Industrial Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Monifi, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Redneck Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, State Employees’ Credit Union of North Carolina, SoFi, Suncoast Credit Union, SunTrust Bank (now Truist), Synchrony Bank, TAB Bank, TD Bank, TIAA Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank. How we rate banks and credit unions.
To recap our selections...
NerdWallet's Best Banks for International Travel
- Schwab Bank: Best for Using ATMs
- Capital One: Best for Foreign transaction fees
- HSBC: Best for Expats with high balances
- Citibank, N.A.: Best for Wiring money
- Revolut: Best for Nonbank multicurrency account
Frequently asked questions
Banks that don’t make it expensive for you to use your debit card when you’re out of the country are best for international travelers.
Here are NerdWallet’s picks for best banks for international travel:
Charles Schwab Bank: Best for using ATMs.
Capital One 360: Best on foreign transaction fees.
HSBC Bank: Best for expats with high balances.
Citibank: Best for wiring money.
Revolut: Best for nonbank multicurrency account.
Some banks offer international bank accounts that U.S. citizens can open. International bank accounts generally require a high minimum balance.
Some banks allow you to make purchases and perform other transactions in other countries without charging a fee. Banks that don’t charge foreign transaction fees include Capital One 360, Discover Bank, HSBC Bank and Schwab Bank.
