Will I be charged for using my debit card abroad? (2024)

FAQs

Will I get charged extra for using my debit card abroad? ›

There may be additional charges from cash machines or banks when you withdraw money abroad or in a foreign currency. Check before you make the transaction.

A foreign transaction fee is a charge that your credit card issuer or bank adds to your bill when you use your credit or debit card to make a purchase in a foreign currency. This fee is usually a percentage of the purchase amount and typically around 1% to 3%.

The best way to avoid foreign transaction fees is to acquire a no-foreign-transaction-fees credit card, if you qualify for one. Next in line are checking accounts or debit cards with no foreign transaction fee. It is also possible to avoid the fee by paying in the local currency for purchases.

The following are the charges associated with international debit cards: Foreign transaction charges: Every time a debit card is used at an ATM or POS terminal, foreign transaction charges range between 2.50% to 3.50%. A markup fee of 3.50% will also be charged on debit card usage.

While you can typically use a debit cards in another country, you may have to pay a foreign transaction fee. Though these fees vary by bank and card issuer, they are usually around 3% of any transaction abroad. In addition, you may be given the option by a merchant to pay in local or U.S. currency.

Travelers electing to use debit card funds should note paying with the card is typically cheaper than withdrawing money from it. Users avoid ATM fees and can still collect points and credits for enrolled reward programs. Before a merchant takes payment, they may ask whether the buyer wants to pay in the local currency.

*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.

Citibank Citi Priority Checking Account

Travel perks including no Citibank fees on ATM withdrawals worldwide and no foreign exchange fees when using debit card abroad. Choose from more than 65,000 fee-free ATMs at Citibank branches and participating retail locations nationwide.

Do debit cards automatically convert currency? ›

If you refuse, your payment network, such as Visa or Mastercard, will convert the currency, and you'll see the conversion on your statement in U.S. dollars. Visa and Mastercard offer exchange rate calculators to give you an idea of what you're being charged upfront.

Visa exchange rate

This might not be the same day when the transaction took place. A 2.99% fee charged by us for using your debit card abroad when making purchases, withdrawing cash or for refunds.

If you want to keep a tab on the spending, a debit card can be a good option. Credit cards, on the other hand, are handy if you face a shortage of funds while travelling abroad.

Foreign transaction fee: Sometimes called a currency conversion fee, this applies for foreign transactions made with a debit card. It usually ranges from 1% to 3% of the purchase amount. Foreign transaction fees for credit cards work similarly.

A good rule of thumb when traveling is to select the local currency during payment to avoid conversion fees and to use a card that doesn't charge foreign transaction fees. Cash withdrawals from international ATMs are also subject to fees.

Types of debit card fees.

The 3 types of fees usually charged on every debit card transaction are interchange fees, assessments, and processor's markup fees. Interchange fees are charged by the bank that issued the debit card to the customer. Card companies, like Visa or Mastercard, charge the assessments.