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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 charge to make an international ATM withdrawal or debit card purchase.
» Looking for information about credit cards? See how to avoid credit card foreign transaction fees.
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, and it offers unlimited reimbursem*nts 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 Bank
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.
HSBC
With an HSBC Premier Checking account, customers pay no foreign transaction fees. HSBC also has a worldwide network of ATMs.
Varo Bank
The mobile-only banking app Varo joins the ranks of other travel-friendly banks. It charges no foreign transaction fees or ATM fees at over 40,000 Allpoint® ATMs. (There is a $3.50 charge on out-of-network and international ATMs.)
Foreign transaction fees by bank or credit union
Institution | Foreign debit card purchase cost* | Foreign ATM withdrawal cost** |
|---|---|---|
Bank of America | 3%. | $5 + 3% of amount. |
Chase | 3%. | $5 + 3% of dollar amount. |
Citi | 3%. | $2.50 non-Citibank ATM fee + 3% of amount. |
Citizens Bank | 3%. | $3 + 3% of amount. |
Fifth Third Bank | 3.2% (3% for transaction and 0.2% for currency conversion). | $5 + 3.2% of amount. |
Navy Federal Credit Union | 1%. | $1 + 1% of amount. |
TD Bank | 3%. | $3 + 3% of amount. |
Wells Fargo | 3%. | $5. |
*Foreign debit card purchase cost refers to foreign transaction fees — often 1% to 3% — and currency conversion fees (if applicable). These fees will typically show up on your monthly statement. **Foreign ATM withdrawal cost refers to out-of-network ATM fees plus any foreign transaction fees (if applicable). Note: Some ATM owners tack on their own fee in addition to what your bank may charge. People with premium checking accounts might be eligible for certain fee waivers. Learn more about these banks and credit unions in NerdWallet's bank and credit union reviews. | ||
Click here to expand and compare fees at more national and online banks
Institution | Foreign debit card purchase cost* | Foreign ATM withdrawal cost** |
|---|---|---|
Alliant Credit Union | 1%. | 1% of amount. Alliant reimburses up to $20 monthly for out-of-network ATM fees (withdrawal fees only; does not apply to 1% fee), including abroad. |
Ally Bank | Up to 1%. | Up to 1% of amount. |
BMO Bank | 2.8%. | $3 + 2.8% of amount. |
Connexus Credit Union | Up to 1.5%. | Up to 1.5% of amount. |
Consumers Credit Union | 0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency. | 0.8% or 1%. |
LendingClub | 1.1% (0.9% for the transaction and 0.2% for currency conversion). | 1.1% of amount. For eligible accounts, LendingClub reimburses all fees incurred from ATM usage, including internationally (but does not include foreign exchange fees). |
M&T Bank | 50 cents or 3%, whichever is greater. | $5 or 3% of amount, whichever is greater. |
Navy Federal Credit Union | 1%. | $1 + 1% of amount. |
PenFed Credit Union | Up to 2%. | $1.50 + up to 2% of amount. |
Regions Bank | 3%. | $5 + 3% of amount. |
SoFi | Up to 0.20%. | Up to 0.20%. |
U.S. Bank | 3%. | $2.50 + 3% of amount. |
Institution |
|---|
BMO Bank • Debit purchase: 2.8%. • ATM withdrawal: $3 + 2.8% of amount. |
Citizens Bank • Debit purchase: 3%, depending on whether purchase made in U.S. dollars or foreign currency. • ATM withdrawal: $3 + 3% of amount. |
Connexus Credit Union • Debit purchase: Up to 1.5%. • ATM withdrawal: Up to 1.5% of amount. |
Consumers Credit Union • Debit purchase: 0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency. • ATM withdrawal: 0.8% or 1% |
Fifth Third Bank • Debit purchase: 3.2% (3% for transaction and 0.2% for currency conversion). • ATM withdrawal: $5 + 3.2% of amount. |
LendingClub Bank • Debit purchase: 1.1% (0.9% for the transaction plus 0.2% for currency conversion). • ATM withdrawal: 1.1% of amount; for eligible accounts, LendingClub reimburses all fees incurred from ATM usage, including internationally (but does not include foreign exchange fees). |
M&T Bank • Debit purchase: 50 cents or 3%, whichever is greater. • ATM withdrawal: $5 or 3%, whichever is greater. |
PenFed Credit Union • Debit purchase: Up to 2%. • ATM withdrawal: $1.50 + up to 2% of amount. |
Regions Bank • Debit purchase: 3%. • ATM withdrawal: $5 + 3% of amount. |
Truist • Debit purchase: Up to 3%. • ATM withdrawal: $5 + up to 3% of amount. |
U.S. Bank • Debit purchase: 3%. • ATM withdrawal: $2.50 + 3% of amount. |
Wells Fargo • Debit purchase: 3%. • ATM withdrawal: $5. |
Click here to expand and compare fees at nearly 15 more national and online banks
Institution |
|---|
BMO Bank • Debit purchase: 2.8%. • ATM withdrawal: $3 + 2.8% of amount. |
Citizens Bank • Debit purchase: 3%, depending on whether purchase made in U.S. dollars or foreign currency. • ATM withdrawal: $3 + 3% of amount. |
Connexus Credit Union • Debit purchase: Up to 1.5%. • ATM withdrawal: Up to 1.5% of amount. |
Consumers Credit Union • Debit purchase: 0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency. • ATM withdrawal: 0.8% or 1% |
Fifth Third Bank • Debit purchase: 3.2% (3% for transaction and 0.2% for currency conversion). • ATM withdrawal: $5 + 3.2% of amount. |
LendingClub Bank • Debit purchase: 1.1% (0.9% for the transaction plus 0.2% for currency conversion). • ATM withdrawal: 1.1% of amount; for eligible accounts, LendingClub reimburses all fees incurred from ATM usage, including internationally (but does not include foreign exchange fees). |
M&T Bank • Debit purchase: 50 cents or 3%, whichever is greater. • ATM withdrawal: $5 or 3%, whichever is greater. |
PenFed Credit Union • Debit purchase: Up to 2%. • ATM withdrawal: $1.50 + up to 2% of amount. |
Regions Bank • Debit purchase: 3%. • ATM withdrawal: $5 + 3% of amount. |
Truist • Debit purchase: Up to 3%. • ATM withdrawal: $5 + up to 3% of amount. |
U.S. Bank • Debit purchase: 3%. • ATM withdrawal: $2.50 + 3% of amount. |
Wells Fargo • Debit purchase: 3%. • ATM withdrawal: $5. |
How do I avoid foreign transaction fees on my debit card?
You may want to consider switching to a bank with no foreign transaction fees. Travelers can also benefit from a credit card that skips these fees, especially if you go abroad frequently.
» See NerdWallet's picks for the best no foreign transaction fee credit cards.
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.
» Want to earn more on your savings? Browse NerdWallet's list of best high-yield online savings accounts.
Member FDIC
SoFi Checking and Savings
APY
0.50%
Monthly fee
$0
Member FDIC
Capital One 360 Checking
APY
0.10%
Monthly fee
$0
Member FDIC
Discover Cashback Debit
APY
N/A
Monthly fee
$0
Deposits are FDIC Insured
Chime Checking Account
APY
N/A
Monthly fee
$0
As a seasoned expert in personal finance and banking, I've delved deep into the intricacies of international transaction fees, foreign ATM withdrawals, and debit card purchases. Over the years, I've closely monitored the policies of various financial institutions, analyzed user experiences, and stayed abreast of the dynamic landscape of banking services.
Now, let's break down the key concepts and information presented in the article about foreign transaction fees and ATM withdrawals:
-
Foreign Transaction Fees:
- These fees typically range from 1% to 3% of the amount of a purchase made with a debit card in a foreign currency.
- They may include currency conversion fees if applicable, and these fees are often reflected on your monthly statement.
-
Banks with No Debit Card Foreign Transaction or ATM Fees:
-
Capital One 360:
- No currency conversion fee or foreign ATM fees.
- Note: Out-of-network ATM operator fees are not reimbursed.
-
Charles Schwab Bank:
- No fees for using its debit card at ATMs overseas.
- Offers unlimited reimbursem*nts for ATM fees worldwide.
- No currency conversion fees for debit card transactions.
-
Discover Bank:
- No foreign ATM network or foreign transaction fees.
- Limited card acceptance outside the U.S., Canada, Mexico, and some Caribbean nations.
-
HSBC:
- No foreign transaction fees with an HSBC Premier Checking account.
- Worldwide network of ATMs.
-
Varo Bank:
- No foreign transaction fees or ATM fees at over 40,000 Allpoint® ATMs.
- Note: $3.50 charge on out-of-network and international ATMs.
-
-
Comparison of Foreign Transaction Fees by Bank or Credit Union:
- The article provides a detailed comparison of foreign debit card purchase costs and foreign ATM withdrawal costs for various institutions, including Bank of America, Chase, Citi, Citizens Bank, Fifth Third Bank, Navy Federal Credit Union, TD Bank, and Wells Fargo.
-
Additional Banks and Credit Unions with Fee Information:
- The article expands the comparison to include information about Alliant Credit Union, Ally Bank, BMO Bank, Connexus Credit Union, Consumers Credit Union, LendingClub, M&T Bank, PenFed Credit Union, Regions Bank, SoFi, U.S. Bank, and more.
-
Tips to Avoid Foreign Transaction Fees:
- Consider switching to a bank with no foreign transaction fees.
- Utilize credit cards that don't charge foreign transaction fees, especially if you travel abroad frequently.
- Inform your financial institution about your travel plans to prevent unwarranted fraud alerts.
-
Highlighted Banks with No Foreign Transaction Fees:
- SoFi Checking and Savings (APY 0.50%, Monthly fee $0)
- Capital One 360 Checking (APY 0.10%, Monthly fee $0)
- Discover Cashback Debit (APY N/A, Monthly fee $0)
- Chime Checking Account (APY N/A, Monthly fee $0)
In summary, the article provides a comprehensive guide for individuals seeking to minimize or eliminate foreign transaction fees and ATM charges, offering valuable insights into specific banks and credit unions that cater to international travelers.
