Additionally, Capital One doesn’t charge any withdrawal fees, but you do have to pay any fees charged by the local bank.īe sure to ask your local bank or credit union too. While it’s not as good as zero, it’s still better than what a lot of other banks charge. I use HSBC as my backup because HSBC has ATMs all over the world and charges only $2.50 USD per ATM transaction when you use a non-HSBC ATM. Other fees, such as an international transaction or foreign currency fee, may also still apply so double-check before you go! Note: Bank of America charges a 3% foreign transaction fee on all withdrawals not in USD.įinally, you can get a low-fee card. There are some exceptions, i.e., if you use your Barclays card in one country, there might not be a fee, but in another, there may be. Westpac (Australia, New Zealand, Fiji, Vanuatu, Cook Islands, Samoa, Tonga, Papua New Guinea, and Solomon Islands)īe sure to check with your local bank on specific coverage areas.Scotiabank (Canada, Caribbean, Peru, Chile, and Mexico).Deutsche Bank (Germany, Poland, Czech Republic, Spain, Portugal and Italy).BNP Paribas (France, Ukraine, Turkey, Poland, Morocco, Italy, New Caledonia, Réunion, Guyane, Guadeloupe, Martinique, and Luxembourg).Barclays (England, Wales, Spain, Portugal, Gibraltar and certain countries in Africa).While they have the high fees ($5 USD per withdrawal) for banks outside their network, by using partner ATMs you can avoid ATM charges.īelow is a list of major banks in this alliance: This is a network of large banks that have come together and waived fees, allowing for free ATM withdrawals. If you just get this card, you don’t need to do anything else.Īnother option is to pick a bank in the Global ATM Alliance. It’s literally saved me thousands of dollars. Since getting it, I’ve avoided all ATM fees. This is my primary bank card and I’ve been using it for years. Their ATM card can be used in any bank machine around the world, and you’ll never pay a fee. You need to open a high-yield checking account in order to qualify, but there is no minimum deposit required and no monthly service fee. This is significant because, while there’s a growing number of banks that don’t charge ATM fees themselves, there are very few that offer unlimited reimbursement on ATM fees. To help you avoid fees, here are four things you’ll want to do on your next trip to eliminate those pesky fees:įirst, if you are a US resident, the best bank to use is Charles Schwab.Ĭharles Schwab has no fees and reimburses all your ATM fees at the end of each month. Why give banks money you need for travel? You worked hard saving your money - don’t waste it by giving it to a bank. And most travelers I know go to the ATM even more than twice a week, which only increases the amount in fees they pay. That is $14 per week, $56 per month, or $672 per year! Do you know how many days you could spend in Southeast Asia for that amount? Almost 3 weeks!Įven if you only use the ATM once a week, that’s still $364 USD per year. Fees vary around the world, but let’s say that you end up paying around $7 USD per withdrawal. An international conversion fee (usually 1-3% of the transaction)Īs you can see, these fees very quickly add up. Your bank’s fee for using an ATM outside of their network (usually $2.50-5 USD).If you withdraw money from an international ATM with your regular debit card, you’ll be hit with 3 different fees: Let’s think about it: While you’re on the road, you might withdraw money from an ATM twice a week.
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