Going on vacation can be one of the most relaxing times of your life and nobody really thinks about what they spend when they’re on vacation. That is until they see how much their credit cards are charging foreign transaction fees for each purchases they make abroad.
You would probably think to default to your checking account or debit card to avoid any of these foreign transaction fees, but even the best don’t know that debit card transactions, including ATM withdrawals, can carry an expensive transaction fee.
To avoid any fees, smart cardholders can review the fees charged by different banks. Lucky for you, we’ve compiled a list of Best List of Bank ATM Fees to help you find those banks that won’t charge you extra.
Table of Contents
Best Banks With Lowest Fees for International ATMs
- TD Bank fees are waived at all ATMs. This includes TD ATMs and non-TD ATMs. And, both domestic and international ATMs.
- Surcharges from non-TD ATMs will be reimbursed when you keep at least a $2,500 daily balance. This includes surcharges at international ATMs as well.
- TD does not charge an International Service Assessment (ISA) fee.
- Keeping a $2,500 daily balance will also waive the monthly fee for this account.
- And, you can earn a $300 bonus when you receive direct deposits of $2,500 or more within 60 days of account opening.
- Customers don’t pay any flat fees or foreign transaction fees when using their debit cards while travelling.
- Any MasterCard percentage fees will be covered by Capital One.
- Only for Capital One 360 Customers.
- Capital One 360 will not reimburse fees charged by an ATM operator that is out of network.
- Will reimburse any ATM fees from cash withdrawals worldwide, regardless of the network.
- No currency conversion fees for debit card transactions.
- You will be required to open a brokerage account with Charles Schwab and link the checking account to it.
- However, you do not need to put any money into the brokerage account or have any activity.
- No foreign transaction fees or foreign ATM fees.
- Dicover Bank cards are limited outside of the U.S., Canada, Mexico, and some Caribbean nations.
- No additional fees when withdrawing cas at CitiB-branded foreign ATMs when using your Citi card.
- Out of network ATM transactions will cost Citi customer $2.50 plus a 3% conversion charge.
- They have a large international presence, so it shouldn’t be hard to find a location or an ATM.
- All ATM fees reimbursed worldwide
- Visa foreign transaction fees reimbursed
- No monthly maintenance fees, no minimum balances, and no overdraft fees
- Mobile Check Deposit is available for all Betterment Checking users
- Checking is FDIC insurance up to $250,000
- All ATM fees reimbursed worldwide
- Access cash at more than one million ATMs worldwide, anywhere you see the Visa®, Plus®, or Star® logos.
- 1% foreign transaction fee still applies for transactions outside of the country
ATM Fees From Other Common Banks
|Bank||Foreign ATM Withdrawal Fee||Foreign Debit Purchase Fee|
|Alliant CU||1%; up to $20 monthly out-of-network ATM fees reimbursed (includes foreign ATMs)||1%|
|Ally Bank||Up to 1% of amount||Up to 1%|
|Bank of America||$5 + 3% of amount||3%|
|Bank5 Connect||None; will reimburse other banks’ surcharges up to $15 each statement cycle||1%|
|BBVA Bank||$2.50 + 3% of amount||3%|
|Branch Banking & Trust (BB&T)||$5 + 3% of amount||3%|
|BMO Harris Bank||$2.50 + 3% of amount||3%|
|Capital One (not Capital One 360)||$2.00 + 3% of amount||3%|
|Chase Bank||$5 + 3% of amount||3%|
|Citibank||$2.50 + 3% of amount||3%|
|Citizens Bank||$3 + 3% of amount||3%|
|Fifth Third Bank||$5 + 3% of amount||3%|
|HSBC Bank||$2.50 + 3% of amount
*No ATM fee with Premier Checking in most countries
|KeyBank||$5 + 1% of amount||1%|
|M&T Bank||$5 + 3% of amount||3%|
|PNC Bank||$5 + 3% of amount||3%|
|Regions Bank||$5 + 3% of amount||3%|
|Santander||$6 + 4% of amount||4%|
|SunTrust Bank||$5 + 0% of amount||None|
|TD Bank||$3 + 0% of amount||None|
|Union Bank||$5 + 2% of amount||2%|
|U.S. Bank||$2.50 + 3% of amoun||3%|
|Wells Fargo Bank||$5 + 3% of amount||3%|
International Debit Card Transactions
There are two types of fees associated with foreign debit card transactions:
- Flat fees charged per transaction: Usually these are fixed-dollar-amount fee charged for every ATM withdrawal or transaction. Flat fee usually ranges from $2 to $5. This is similar to the type of fee most banks charge for out-of-network ATM foreign transactions.
- Foreign transaction fees: A conversion charge levied by the bank for any transactions conducted in a foreign currency. The fee is charged between 1% and 3% of the total transaction.
International ATM Withdrawals
Banks have two common ways of applying foreign transaction fees:
- Banks will combine both types of fee when you’re making an ATM withdrawal. You pay the flat fee for using your debit card at a foreign ATM, plus an additional payment of the percentage total of the amount of cash you withdraw. If you opt to use your debit card transaction outside of an ATM, you still have to pay the foreign transaction fee, but not the flat ATM withdrawal fee.
- Banks will charge only a flat fee for ATM transactions, this is less common. In this case, these banks charge a percentage fee, but not a flat fee, for other foreign transactions.
The best thing to do before travel is to speak with your bank to see what foreign transaction fees they charge. Being a loyal customer who always keeps a good amount of money in your account at all times can really pay its dividends because banks will sometimes waive fees for loyal customers.
Additionally, if your bank has a large branch or has multiple locations in your destination country, then doing ATM withdrawals at those locations can avoid those transaction fees.
Be sure to watch out for foreign ATM operators because they can charge you fees that your bank cannot waive or reimburse. If you’re interested in posts like this, then check out our list of the Best Bank Rates and Best Banking Promotions, here on HMB!