No need to worry about online shopping purchases costing you extra. Many major credit card issuers offer these kinds of cards, including:Ĭredit cards that eliminate any international transaction fees will save you money even when you’re taking a break from your overseas globetrotting. If you hate paying foreign transaction fees, you might want to find a credit card that doesn’t charge you for making purchases overseas. Check out your local credit unions to see what options are available in our area. Many credit unions and community banks simply pass on the 1% Visa/MC charge but don’t add on their own fees. What to know about using cards from other institutions: The debit card has no ATM fees and no international fees anywhere in the world, and the account even pays a small amount of interest.įinally, there are many credit unions across the nation that offer credit and debit cards that are foreign transaction fee-free. You will have to also hold a brokerage account with Schwab, but neither the brokerage nor the checking account has a minimum balance requirement or maintenance fees. What you should know about Capital One cards:Ĭapital One’s cards require a high FICO score to qualify, and they have a reputation for being real sticklers about fraud: if you don’t call in advance to tell them where you’re traveling (this is a good idea in any case), your card will be declined once you arrive at your overseas destination.įor debit card fans, the traveler’s best friend is the High Yield Investor Checking account at Charles Schwab. The most well-known is Capital One, which charges no international fees (not even the 1% Visa/Mastercard fee) on any of its credit or debit cards. Let’s take a dive into the best banks that allow you to opt out of foreign exchange fees. There are a number of foreign-friendly banks that allow you to forgo the headache of foreign transaction fees and encourage you to make most purchases in the countries of your choice without requiring you to pay any hidden fees. You don’t have to dispute a fee if you’re not charged one in the first place.
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