Traveling abroad to exotic destinations can enrich and inspire you, but it can also ding your wallet with foreign fees, leaving you less money for things you enjoy. Finding banks with no ATM fees can save you a bundle when you’re traveling, especially if you plan to use your debit card.
Review the following banks and credit unions to see what they offer specifically for travelers and people who need to wire money internationally. You might even find some travel-friendly perks with the best travel rewards credit cards.
Here are the 10 best banks and credit unions for travelers:
|10 Best Banks and Credit Unions for Travelers|
|Bank or Credit Union||Global ATM Access and Reimbursements||Currency Exchange Services||Wiring Money Services Abroad Fees||Foreign Transaction Fees|
|Citibank||ATM network in 40 foreign countries with more than 20,000 ATMs worldwide|
No-fee Citibank and MoneyPass ATMs
|Delivery service for foreign currency|
No service fees for clients with the Citigold or Citi Priority account package
|$17.50 with Citigold and Citi Priority|
$25 with other accounts
|No fees if you use a Citigold or Citi Priority debit card|
|Bank of America||No fee for using non-Bank of America bank for withdrawals, transfers or balance inquiries||Order foreign currency online by 2 p.m. for shipment same business day||$30 to $45||Offers credit cards with no foreign transaction fees|
|Barclays||No-fee ATMs||Foreign currency delivery available for limited amounts|
Order by 2 p.m. for next business day delivery.
|$0 if using online banking both domestically and internationally||3% fee for Travelocity American Express card issued by Barclays|
|HSBC Bank||International ATMs and branch locations with financial services||Transfer money between your own HSBC currency accounts, make a transfer to another payee in over 150 countries and send money in your choice of over 20 currencies||Free global transfers with HSBC Premier account or HSBC Advance account||2.99% non-sterling transaction fee |
2.99% cash advance fee
|Capital One 360||Large network of fee-free Capital One and AllPoint ATMs|
Fee-free foreign transactions at ATMs with Mastercard logo
|None||No fee for incoming wire transfers||None|
|Charles Schwab||Unlimited fee rebates from any ATM worldwide||None||$25 outgoing wire transfer fee||None|
|Alliant Credit Union||ATM rebates up to $20 per month for out-of-network ATMs||None||$50 outgoing wire transfer fee||1% of each transaction|
|American Airlines Credit Union||Can earn up to $20 in ATM refunds each month with a Priority checking account||None||$20 incoming or outgoing domestic and incoming international|
$45 outgoing international
|1% of each transaction|
|Navy Federal Credit Union||Free ATMs on some overseas military bases|
1% international service fee or 0.8% for U.S. currency
ATM rebates up to $10 per statement
|None||$25 international wire transfer fee||Offers credit cards with no foreign transaction fees|
|Andrews Federal Credit Union||Reloadable EMV prepaid card can access over 1 million ATMs worldwide|
Fee-fee transactions at CO-OP and Andrews Federal machines
|None||$35 international outgoing transfer fee||Offers credit cards with no foreign transaction fees|
Citibank has an ATM network that spans over 20 countries outside the United States, which benefits people who enjoy international travel. In addition, Citigold and Citi Priority customers have their ATM fees waived.
You can withdraw up to $1,000 in available funds from any Citibank branch with no service fee if you ever lose your wallet on a trip. And the limit increases to $10,000 for Citigold or Citi Priority clients. You can also preorder most foreign currencies for delivery — as quickly as the next business day — before you leave on your trip.
Find Out: How to Find Citibank ATMs Near Me
Bank of America
Bank of America is a member of the Global ATM Alliance, which is a coalition of financial institutions that allow each other’s members to use ATMs in certain international countries without paying a usage fee for each withdrawal. For example, you can use BNP Paribas ATMs in France and Deutsche Bank ATMs in Germany.
You will still pay a 3 percent fee, however, for converting your withdrawal to the local currency. To put a travel notice on your card to avoid problems, use the bank’s mobile banking app.
Barclays is also a member of the Global ATM Alliance, so you have extra fee-free ATM options when traveling abroad. In addition, you can order foreign currency online through the Barclays website as long as you have a Barclays debit card or Barclaycard. You can order up to 5,000 British pounds every 90 days, although only 2,500 pounds can be delivered to a residential address per 90-day period.
HSBC has over 3,900 branches in 67 countries and territories. For cash in an emergency, you can request up to $10,000 fee-free from your HSBC Premier Account or HSBC Advance Account at any HSBC branch around the world. In addition, HSBC does not charge any foreign transaction fees for foreign purchases when you use your HSBC Bank USA, N.A. Premier World debit Mastercard or HSBC Bank USA, N.A. Premier World Mastercard credit card.
Capital One 360
You can use any Capital One-branded ATM around the world without being charged an ATM fee, which makes it one of the best banks for travelers. In addition, Capital One will refund up to $15 of ATM fees per statement period for some international ATMs. You can also use your Capital One credit card without being charged foreign transaction fees no matter where you make your purchases.
You’ll love Schwab if you don’t like ATM fees; the bank refunds unlimited ATM fees each month worldwide. Plus, Schwab doesn’t charge any foreign transaction fees.
Although you can receive incoming wire transfers in foreign currency with no acceptance fees, Schwab charges a $25 fee for outgoing wire transfers. For example, you could wire money from your Schwab account to another bank that has a local branch where you’re traveling.
Alliant Credit Union
Although Alliant Credit Union offers to refund up to $20 of ATM fees each month, you’ll still be responsible for foreign transaction fees charged by Visa, which total 1 percent. Alliant won’t charge you for incoming wire transfers, but if you want to send a foreign wire transfer, you’ll be charged $50. When traveling abroad, notify Alliant’s Security Center by calling 800-328-1935 or setting a travel notification on your account online.
American Airlines Credit Union
American Airlines Credit Union no longer issues prepaid travel cards but includes EMV chips in all of its cards now so that you can use them around the world. Visa’s 1 percent foreign transaction fee still applies, however. American Airlines Credit Union will refund up to $20 of ATM fees each month if you have a Priority Checking account and complete at least 15 debit card transactions, have at least $250 directly deposited into your account each month and enroll in online statements with a valid email address.
Navy Federal Credit Union
Navy Federal Credit Union’s foreign transaction fee, which is charged when you use your Visa debit card abroad, is 1 percent for transactions in a local currency or 0.8 percent for transactions in U.S. dollars. But all of Navy Federal Credit Union’s credit cards waive the foreign transaction fee. Depending on the type of account you have, you could also get some of your ATM fees refunded: Active Duty checking accounts refund up to $20 per statement and flagship checking, e-checking and campus checking refund up to $10 per statement.
Andrews Federal Credit Union
Andrews Federal Credit Union has locations not only in Maryland, Virginia and Washington, D.C. but also international locations in Germany, the Netherlands and Belgium. In addition, all of Andrews Federal Credit Union personal credit cards have no foreign transaction fees, although a 1 percent foreign transaction fee applies to its Visa Business Rewards card.
Up Next: 10 Best National Banks of 2018
This content is not provided by the companies mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by any of the financial institutions reviewed.
Methodology: GOBankingRates identified the best banks and credit unions for travelers by analyzing the global ATM access and reimbursements; currency exchange services, fees for wiring money services abroad; and foreign transaction fees of these financial institutions. All fees and rates are subject to change at the banks’ and credit unions’ discretion.