How much is the fee for using debit card internationally?
Some debit cards charge foreign transaction fees that range from 1% to 3% of your purchases abroad or when using your card online with foreign merchants.
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.
You get charged every time you withdraw cash from an ATM or pay for items with your Debit Mastercard or Keycard overseas or where there is an overseas connection. International transaction fee: 3% of the transaction value.
Foreign transaction charges: Every time a debit card is used at an ATM or POS terminal, foreign transaction charges range between 2.50% to 3.50%.
Visa exchange rate
This might not be the same day when the transaction took place. A 2.99% fee charged by us for using your debit card abroad when making purchases, withdrawing cash or for refunds.
These fees can be avoided by choosing a bank account that doesn't charge fees and reimburses out-of-network ATM fees and by always withdrawing local currency from ATMs. Account holders can also ask their home bank if there are partner branches or in-network ATMs in the destination country or countries.
- Get a no-foreign-transaction-fee credit card. Though most credit cards do charge foreign transaction fees, there are a number that don't. ...
- Use a debit/checking account with no foreign transaction fees. ...
- Pay in the local currency.
Yes, cards issued by U.S. Bank can be used in most foreign countries.
- Aspiration.
- Betterment.
- Charles Schwab.
- Capital One.
- Alliant Credit Union.
- First Republic Bank.
- Fidelity.
- USAA.
Credit cards also tend to be safer to use abroad. If your debit card is hacked or stolen while away, then the money in your account is at risk. This is not the case with a credit card as only the money up to your credit limit is at risk. There is also something called Section 75 of the Consumer Credit Act.
Which debit cards are free for abroad?
- First Direct. When you were abroad, First Direct used to charge a 2.75% conversion fee every time you used your card to buy something or withdraw cash. ...
- Starling Bank. The Starling Bank current account is free. ...
- Chase. ...
- Monzo. ...
- Virgin Money. ...
- Kroo Bank. ...
- Cumberland Building Society.
With the Starling Bank account you do not pay any fees to withdraw foreign currency from a cash machine while anywhere in the world outside Europe.
| Credit Card | Annual Fee |
|---|---|
| IndusInd Legend Credit Card | Joining fee: Rs. 9,999 (Nil if applied through Paisabazaar) |
| HDFC Diners Club Black Credit Card | Rs. 10,000 |
| Axis Bank Reserve Credit Card | Rs. 50,000 |
| ICICI Bank Emeralde Credit Card | Rs. 12,000 |
- Wise - Best for multi-currency spending worldwide. ...
- Chase - Best for cashback¹ ...
- Virgin Money - Best all-round card with no foreign transaction fees. ...
- Starling Bank - Best for app-based card management. ...
- First Direct - Best switching bonus for opening an account.
| Credit Card | Foreign transaction Mark-up Fee |
|---|---|
| RBL Bank World Safari Credit Card | 0.00% |
| YES FIRST Preferred Credit Card | 1.75% |
| YES Prosperity Edge Credit Card | 3.00% |
| HSBC Visa Platinum Credit Card | 3.50% |
Local vs Global Debit Card – A comparison
Essentially, an international debit card is not a separate card – it is your local debit card with global access. You need to activate your local debit card for international transactions before travelling abroad.
Helpful tips for using credit cards in Europe
Remember, even little fees can add up. Avoid using debit cards when making purchases. Debit card numbers are too easy to steal and are tied directly to your checking account. Use them only at ATMs, so you don't risk a thief draining your account.
- Cash/Local Currency. Let's start with the most basic form of payment: cash. ...
- Opening a Bank Account. ...
- ATM/Debit Cards. ...
- Credit Cards. ...
- Apple Pay/Google Pay.
You should definitely consider filing a travel notice for every trip outside your country. If you don't file a travel alert with your card issuer, your credit card may get declined and you might need to contact your credit card company to approve your transactions.
These fees are typically 1%–3% of the value of the transaction and are paid by U.S. travelers in dollars. Online purchases that take place with overseas vendors may also be subject to such a fee. Several banks or credit card issuers now offer certain customers waivers on these fees, or fee-free cards.
What is the average international transaction fee?
If you've used your credit card outside of the U.S., you've no doubt come across foreign transaction (FX) fees — fees of around 3% charged by banks on purchases made overseas.
| Card Name | Annual Fee |
|---|---|
| SBI Platinum International Debit Card | Rs. 250 |
| InterMiles HDFC Bank Signature Credit Card | Rs. 500 |
| Axis Bank Burgundy Debit Card | Nil/Rs. 1500 for Non-burgundy account holders |
| ICICI Bank Sapphiro International Debit Card | Rs. 1499 |
Foreign transaction fees generally range from 1 percent to 3 percent and tend to average around 3 percent of each transaction. Paying around $3 per $100 you spend may not sound that expensive, but these fees can add up if you're making a lot of purchases with your credit card.
Some banks provide a facility to check for International usage on Netbanking. If your bank has the facility, you can check the same by logging on to Net Banking. If not, you can always call customer care and provide your details and ask them to check the status.
