![]() The good news is that some banks and specialist providers don’t charge foreign transaction fees. That doesn’t sound too bad, but it quickly adds up if you’re making a big ticket purchase or if you’re on a longer holiday with your family, for example. Where foreign transaction fees apply, they’ll often be around 3% of the total transaction value. If you’re using a credit card, the foreign transaction fee is added when switching your overseas spending back to pounds, and then the total is shown on your monthly card bill.ĭepending on your card provider, the foreign transaction fee may be shown as a separate line on your statement or card bill, or it may simply be rolled into the sterling amount shown for the purchase or withdrawal. If you’re spending with a debit card, the amount you spend when you’re abroad will be converted back to pounds, and then this, plus the foreign transaction fee, will be deducted from your account. How do foreign transaction fees work?įoreign transaction fees are percentage fees added to the amount you pay when you spend in a foreign currency. Not all credit and debit cards use foreign transaction fees - but they’re pretty common, and they can push up the costs of spending overseas without you even realising it. These charges are added when you spend with a merchant overseas, when you’re on a foreign holiday and make an ATM withdrawal, or when you spend with a card online, and pay in a currency other than pounds. Santander: Earn 0.5% cash back on spending with no foreign transaction fee - 3 GBP/month charge applies What is a foreign transaction fee?Ī foreign transaction fee is an extra percentage charge that’s added to your overall bill whenever you spend with your credit or debit in a foreign currency. Halifax: Get the same interest rate across all spending categories, and no Halifax ATM fee.Revolut: Pick the account that suits your spending, and get free currency conversion to plan limitsīarclay card: Earn 0.25% cash back on spending, with no foreign transaction fee to pay Wise : Spend in 170+ countries with mid-market rate currency conversion and no ongoing fees Key points: best travel cards with no foreign transaction fees ![]() ![]() Different options suit different preferences and needs - to help you pick, this guide walks through no foreign transaction fee cards from well known UK banks, and some top low cost alternatives like the Wise card and the Revolut card. UK customers can generally pick from international debit or prepaid cards, or travel credit cards which have features designed for ease of use overseas. Whenever you’re spending in a foreign currency - whether that’s when you travel overseas or when you shop with an online retailer based abroad - it’s useful to know your options to spend and make cash withdrawals internationally without hefty foreign transaction fees.
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