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Fees vary around the world, but on average you end up paying USD per withdrawal.
That is per week, per month, or 0 per year.
It’s become a lot more common for credit cards to waive that fee since if you use your card a lot overseas, you’ll probably use it a lot anywhere.
My favorite no overseas transaction fee cards are the Chase Sapphire Preferred, Starwood American Express, Barclay Arrival Plus, Capital One, and Citi Premier.
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. Note: Bank of America charges a 3% foreign transaction fee on all withdrawals not in USD, though in Mexico you can use Santander to avoid the fee. You will need to open a high-yield checking account in order to qualify, but there is no minimum deposit required and no monthly service fee. Additionally, Capital One doesn’t charge any withdrawal fees, but you do have to pay any fees charged by the local bank. Not charging ATM fees has become a widespread practice over the last few years, so make sure to ask your local bank.
Using a credit card will get you an exchange rate closest to the official interbank currency rate so avoid an ATM or cash if you can.Banking overseas is more than just putting your card in an ATM.When you travel abroad, banking overseas involves knowing three things: how to avoid paying bank fees, how to eliminate foreign transaction charges, and how to get a good exchange rate.Use an ATM — ATMs offer the best exchange rate after credit cards.
They aren’t as good as credit cards since commercial banks take a little more off the top, but it’s much better than exchanging cash.And with these simple tips, you’ll never have to again.