Avoid Foreign Transaction Fees with These Debit and Credit Cards
- by Ari Travels
Whether you are withdrawing cash by using an ATM or even just making a credit card payment abroad, foreign transaction fees can be a huge drain on your bank account when traveling and you don’t even realize it. Thankfully, I have a credit and debit card I want to talk about so you too don’t have to get stuck having hefty bills in foreign transactions or ATM fees when traveling.
Debit card that reimburses your foreign transaction fees when using ATM's abroad
Unless you are traveling somewhere that’s a hub for tourists, most countries preferred method of payment is cash. You will need a debit card that you load with money in order to withdraw cash at the ATMs in whatever country you’re in. The Charles Schwab Debit Card is my absolute go-to. This card is AMAZING because it reimburses all foreign ATM fees! Initially, you will have to accept the transaction fees, but about a month later the company reimburses you all electronically. It’s free to sign up with no annual fees either. Foreign transaction fees can be so expensive. I’m very grateful for how much money this card has actually saved me.
Something to note: Charles Schwab is slightly old school. This card can be complicated to deposit money into at first, but their customer service is extremely helpful. If you are confused at all, someone can answer any questions for you and explain how to do it for you over the phone and this is coming from someone who is not tech-savvy at all.
Credit card recommendation for international travel (does not charge fees)
The Capital One Student Journey Credit card is my favorite! This credit card does not have foreign transaction fees plus there is no annual fee either and signing up is free. This card is useful when making any sort of credit card payment outside the United States when you are abroad such as flights and accommodation. Of course, this card can be used anywhere in the world. I use this card both for travel and personal expenses. It's free to sign up as well.
I hope this post was helpful! Please feel free to comment or ask me any questions regarding your upcoming trip. For more information about using credit or debit cards abroad, you can book a consultation call with me or shoot me an email by heading to this page. Happy traveling!