Is There A 3% Charge For Using Visa Debit Card To Withdraw Money Overseas?
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.
Foreign transaction fees by bank or credit union
| Institution | Foreign debit card purchase cost* | Foreign ATM withdrawal cost** |
|---|---|---|
| Alliant Credit Union 5.0 NerdWallet rating | 1% | 1% of amount Alliant reimburses up to $20 monthly for out-of-network ATM fees (withdrawal fees only; does not apply to 1% fee), including abroad |
| Ally Bank 4.5 NerdWallet rating | Up to 1% | Up to 1% of amount |
| Bank of America 3.5 NerdWallet rating | 3% | $5 + 3% of amount |
| Chase 3.5 NerdWallet rating | 3% | $5 + 3% of dollar amount |
| Citi 3.0 NerdWallet rating | 3% | $2.50 non-Citibank ATM fee + 3% of amount |
| Navy Federal Credit Union 4.0 NerdWallet rating | 1% | $1 + 1% of amount |
| TD Bank 3.5 NerdWallet rating | 3% | $3 + up to 3% |
| U.S. Bank 3.5 NerdWallet rating | 2% | $5 + 2% |
| * Foreign debit card purchase cost refers to foreign transaction fees — often 1% to 3% — and currency conversion fees (if applicable). These fees will typically show up on your monthly statement. ** Foreign ATM withdrawal cost refers to out-of-network ATM fees plus any foreign transaction fees (if applicable) Note: Some ATM owners tack on their own fee in addition to what your bank may charge. And people with premium checking accounts might be eligible for certain fee waivers. Research more about these banks and credit unions at NerdWallet's bank and credit union reviews . | ||
| Institution | Foreign debit card purchase cost* | Foreign ATM withdrawal cost** |
|---|---|---|
| Bank5 Connect 4.5 NerdWallet rating | 0.8% or 1%, depending on whether purchase made in U.S. dollars or foreign currency | 0.8% or 1% of amount |
| BB&T Bank 3.5 NerdWallet rating | 3% | $5 + 3% of amount |
| BBVA 4.0 NerdWallet rating | 3% | $3 + 1% of amount |
| BMO Harris Bank 4.0 NerdWallet rating | 2.8% | $3 + 2.8% of amount |
| Citizens Bank 3.0 NerdWallet rating | 3% | $3 + 3% of amount |
| Connexus Credit Union 4.0 NerdWallet rating | Up to 1.5% | Up to 1.5% of amount |
| Consumers Credit Union 3.5 NerdWallet rating | 0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency | 0.8% or 1% |
| Fifth Third Bank 3.0 NerdWallet rating | 3.2% (3% for transaction and 0.2% for currency conversion) | $5 + 3.2% of amount |
| HSBC Direct 3.5 NerdWallet rating | 3% + variable currency conversion fee | $2.50 + 3% of amount + variable currency conversion fee |
| M&T Bank 3.5 NerdWallet rating | 50 cents or 3%, whichever is greater | $5 or 3% of amount, whichever is greater |
| PenFed Credit Union 4.5 NerdWallet rating | Up to 2% | $1.50 + up to 2% of amount |
| Radius Bank 5.0 NerdWallet rating | 1.1% (0.9% for the transaction plus 0.2% for currency conversion) | 1.1% of amount For eligible accounts, Radius reimburses all fees incurred from ATM usage (but does not include foreign exchange fees), including internationally |
| Regions Bank 3.0 NerdWallet rating | 3% | $5 + 3% of amount |
| SunTrust Bank 4.0 NerdWallet rating | Up to 3% | $5 + up to 3% of amount |
| U.S. Bank 3.0 NerdWallet rating | 3% | $2.50 + 3% of amount |
| Wells Fargo 3.5 NerdWallet rating | 3% | $5 |
| Foreign fees by institution |
| Alliant Credit Union • Debit purchase : 1%. • ATM withdrawal : 1% of amount; Alliant reimburses up to $20 monthly for out-of-network ATM fees (withdrawal fees only; does not apply to 1% fee), including abroad. NerdWallet rating Learn More at Alliant Credit Union, Federally insured by the NCUA |
| Ally • Debit purchase : Up to 1%. • ATM withdrawal : Up to 1% of amount. NerdWallet rating Read review |
| Bank of America • Debit purchase : 3%. • ATM withdrawal : $5 + 3% of amount. NerdWallet rating Read review |
| Chase • Debit purchase : 3%. • ATM withdrawal : $5 + 3% of dollar amount. NerdWallet rating Read review |
| Citibank • Debit purchase : 3%. • ATM withdrawal : $2.50 non-Citibank ATM fee + 3% of amount. NerdWallet rating Read review |
| Navy Federal Credit Union • Debit purchase : 1%. • ATM withdrawal : $1 + 1% of amount. NerdWallet rating Read review |
| TD Bank • Debit purchase : 3%. • ATM withdrawal : $3 + up to 3%. NerdWallet rating Read review |
| Union Bank • Debit purchase : 2%. • ATM withdrawal : $5 + 2%. NerdWallet rating Read review |
| * Foreign debit card purchase cost refers to foreign transaction fees — often 1% to 3% — and currency conversion fees (if applicable). These fees will typically show up on your monthly statement. ** Foreign ATM withdrawal cost refers to out-of-network ATM fees plus any foreign transaction fees (if applicable) Note: Some ATM owners tack on their own fee in addition to what your bank may charge. And people with premium checking accounts might be eligible for certain fee waivers. Research more about these banks and credit unions at NerdWallet's bank and credit union reviews . |
| Institution |
|---|
| Bank5 Connect • Debit purchase : 0.8% or 1%, depending on whether purchase made in U.S. dollars or foreign currency. • ATM withdrawal : 0.8% or 1% of amount. 4.5 NerdWallet rating |
| BB&T • Debit purchase : 3%. • ATM withdrawal : $5 + 3% of amount. 3.5 NerdWallet rating |
| BBVA Compass • Debit purchase : 3%. • ATM withdrawal : $3 + 1% of amount. 4.0 NerdWallet rating |
| BMO Harris Bank • Debit purchase : 2.8%. • ATM withdrawal : $3 + 2.8% of amount. 4.0 NerdWallet rating |
| Citizens Bank • Debit purchase : 3%, depending on whether purchase made in U.S. dollars or foreign currency. • ATM withdrawal : $3 + 3% of amount. 3.0 NerdWallet rating |
| Connexus Credit Union • Debit purchase : Up to 1.5%. • ATM withdrawal : Up to 1.5% of amount. 4.0 NerdWallet rating |
| Consumers Credit Union • Debit purchase : 0.8% or 1%, depending on whether purchase was made in U.S. dollars or foreign currency. • ATM withdrawal : 0.8% or 1% 3.5 NerdWallet rating |
| Fifth Third Bank • Debit purchase : 3.2% (3% for transaction and 0.2% for currency conversion). • ATM withdrawal : $5 + 3.2% of amount. 3.0 NerdWallet rating |
| HSBC • Debit purchase : 3%. • ATM withdrawal : $2.50 + 3% of amount + variable currency conversion fee. 3.5 NerdWallet rating |
| M&T Bank • Debit purchase : 50 cents or 3%, whichever is greater. • ATM withdrawal : $5 or 3%, whichever is greater. 3.5 NerdWallet rating |
| PenFed Credit Union • Debit purchase : Up to 2%. • ATM withdrawal : $1.50 + up to 2% of amount. 4.5 NerdWallet rating |
| Radius Bank • Debit purchase : 1.1% (0.9% for the transaction plus 0.2% for currency conversion). • ATM withdrawal : 1.1% of amount; for eligible accounts, Radius reimburses all fees incurred from ATM usage (but does not include foreign exchange fees), including internationally. 4.5 NerdWallet rating |
| Regions Bank • Debit purchase : 3%. • ATM withdrawal : $5 + 3% of amount. 3.0 NerdWallet rating |
| SunTrust Bank • Debit purchase : Up to 3%. • ATM withdrawal : $5 + up to 3% of amount. 4.0 NerdWallet rating |
| U.S. Bank • Debit purchase : 3%. • ATM withdrawal : $2.50 + 3% of amount. 3.0 NerdWallet rating |
| Wells Fargo • Debit purchase : 3%. • ATM withdrawal : $5. 3.5 NerdWallet rating |
What to do if a fee seems too expensive
You may want to consider switching to a bank with no foreign transaction fees, listed below. Travelers can also benefit from a credit card that skips these fees, especially if you go abroad frequently.
And no matter where you bank, let your financial institution know where you'll be traveling before you depart to avoid any unwarranted fraud alerts on your account.
Banks with no debit card foreign transaction or ATM fees
Capital One 360
Capital One's online bank stands apart from many banks because it doesn't charge a currency conversion fee or a fee for using a foreign ATM network. If an out-of-network ATM operator charges you a fee, however, it won't be reimbursed by Capital One 360.
Charles Schwab Bank
This brokerage firm's banking unit doesn't charge a fee when you use its debit card at an ATM overseas. In fact, it offers unlimited reimbursements for ATM fees from cash withdrawals worldwide, regardless of the network used. And it doesn't charge currency conversion fees for debit card transactions.
Discover Bank
Discover doesn't charge foreign ATM network or foreign transaction fees. But Discover card acceptance can be limited outside of the U.S., Canada, Mexico and some Caribbean nations.
Varo Bank
The mobile-only banking app Varo joins the ranks of other travel-friendly banks. It charges no foreign transaction fees or ATM fees at over 55,000 Allpoint® ATMs. (There is a $2.50 charge on out of network ATMs.)
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Is There A 3% Charge For Using Visa Debit Card To Withdraw Money Overseas?
Source: https://www.nerdwallet.com/article/banking/foreign-atm-and-debit-card-transaction-fees-by-bank
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