A foreign transaction fee is a charge assessed by your credit card bank on transactions made in any currency other than USD.
» MORE: Foreign transaction fees vs. currency conversion fees How to avoid foreign transaction fees Plain and simple: If you buy something outside the U.S. and use the "wrong" credit card, you'll be hit with an extra fee. However, there are many options for the "right" credit card...
Avoid dynamic currency conversion Know your card’s travel protections It's smart to carry a backup form of payment, like cash, when you travel. But using your credit card to get cash can be costly. A credit card cash advance — really, just a short-term loan on your credit card accoun...
Currency conversion fees can be included in foreign transaction fees, but there’s a slight technical difference. With foreign transaction fees, the card issuer charges a fee for purchases made abroad or online from foreign merchants. A currency conversion fee is charged by the card’s payment n...
Every time you swipe, tap or insert your credit card in a foreign country, you incur a fee known as a foreign transaction fee. On average, this fee adds an additional 2.5% to all credit card purchases made in a foreign currency. The math is quite simple; if you buy a meal for $50...
Alternative: Thanks to a flat cash rewards rate of 2%, you might get more value on your everyday expenses with theWells Fargo Active Cash® Card. But you’ll miss out on paying no foreign transaction fees as the Active Cash card comes with a 3% fee for foreign currency conversion. ...
Check out our list of the best no foreign transaction fee credit cards for plenty of examples. Exchange your money before leaving If you decide to stick primarily to cash while traveling, exchange your U.S. dollars for your destination’s currency before leaving the U.S. Doing so can be ...
Foreign transaction fees are charges that many debit or credit card issuers and banks apply to purchases in a foreign currency or those that pass through a foreign bank. For example, the following activities may incur a foreign transaction fee. ...
If you have a Wells Fargo credit or debit card, this guide is for you. We’ll cover the Wells Fargo foreign currency transaction fee, and tips for using Wells Fargo when going abroad. Can I use my Wells Fargo debit card internationally?
Many establishments frequented by tourists will give you a choice of paying in local currency or U.S. dollars. You’re almost always better off going with the local currency. And remember that your credit card usually has a more favorable exchange rate and lower fees than local merchants can...