Travel enthusiasts know that managing money abroad can be stressful without the right banking tools. That's why we've done the research to help you find bank accounts that eliminate common travel headaches like foreign transaction fees and international ATM charges.
To find the best banks for traveling internationally, we reviewed multiple bank accounts to identify those with low or no foreign transaction and ATM fees, an annual percentage yield (APY), and other perks and services beneficial to travelers.
How we evaluate products
The companies on our list of best banks for international travel may be current or past FinanceBuzz partners. We didn't review all available banks or bank accounts in the market. We considered several key factors, including foreign transaction fees, international ATM availability, APYs, and monthly maintenance or other fees.
What makes a bank good for international travel?
When you're traveling internationally, worrying about how you'll access your money can be stressful. However, with a bit of planning, you can find a bank with features that make international traveling a little easier.
Banks that are good for travelers often have features like:
- Worldwide in-network ATM access (or ATM fee rebates)
- No or low foreign transaction fees
- Competitive currency exchange rates
- Perks like lounge access, travel rewards, travel insurance, or concierge services
Additionally, you should look for a bank with:
- No minimum balance requirements or monthly maintenance fees
- A competitive APY
- Good security, including two-factor authentication
- Robust online banking features
- 24/7 customer service
Best bank for traveling internationally
Account | Best for … | Features |
![]() Betterment Checking |
ATM fee reimbursement |
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![]() Alliant Credit Union High-Rate Checking |
Credit union users |
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![]() HSBC Premier Checking3 <p>Qualifying direct deposits are electronic deposits of regular periodic payments (such as salary, pension, Social Security, or other regular monthly income) deposited through the Automated Clearing House (ACH) network to this account by your employer or an outside agency (please check with your employer or outside agency to determine if they use the ACH network). Direct deposits that do not qualify include but are not limited to transfers from one account to another, mobile deposits, or deposits made at a Wealth Center or ATM.</p> |
People living abroad |
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![]() Citibank Regular Checking |
International wires |
|
![]() Capital One 360 Checking |
No fees |
|
![]() Charles Schwab Investor Checking |
International ATM access |
|
Betterment Checking
- APY: 0%
- Foreign transaction fee: None
- Monthly service fee: $0
Betterment Checking stands out as an excellent option for international travelers, particularly those who already use Betterment for investing. The account's standout feature is its comprehensive fee reimbursement policy. It reimburses all ATM fees worldwide at any ATM where Visa is accepted, and it also reimburses the 1% foreign transaction fee that Visa charges on international purchases and ATM withdrawals.
While the account doesn't offer an APY like some competitors on this list, it makes up for this with its no-fee structure. There are no monthly maintenance fees, no overdraft fees, and no minimum balance requirements. The account is FDIC-insured up to $250,000 per depositor through nbkc bank.
The main drawback for travelers is that you should notify Betterment before traveling internationally to ensure your debit card will work in your destination countries.
While Betterment is primarily known as an investment platform, its checking account integrates with its investment and cash reserve savings accounts, making it appealing if you prefer to manage all your finances in one place.
- Unlimited ATM fee reimbursement
- Full reimbursement of Visa's 1% foreign transaction fee
- No monthly maintenance fees
- No APY
- Should notify Betterment before international travel
Read our Betterment Checking review
Alliant Credit Union High-Rate Checking
- APY: 0.25%
- Foreign transaction fee: 1%
- Monthly service fee: $0
Alliant is the only credit union on this list. It has various banking products, including the High-Rate Checking account with a debit card that you can use internationally.
However, Alliant charges a 1% international service assessment fee (ISA) for all transactions where the merchant country is different from that of the card issuer, and it doesn't reimburse for international ATM usage. However, if you use your debit card in the U.S., the credit union will reimburse up to $20 in ATM fees each month.
If you prefer a credit union to a traditional bank, Alliant is a good option. However, consider using a credit card with travel perks, like no foreign transaction fees or currency exchange fees, instead of your Alliant debit card.
The High-Rate Checking account earns a 0.25% APY with no minimum balance requirements or fees. You can pair it with Alliant's High-Rate Savings account, which earns a much higher 3.10% APY and has a low $100 minimum balance requirement.
- 0.25% checking APY, pairable with the High-Rate Savings account (3.10% APY)
- No monthly maintenance fees
- You can use the Alliant debit card internationally
- 1% fee for all international debit card purchases
- Membership requirements to join
- No physical branches
Visit Alliant Credit Union High-Rate Checking | Learn more in our Alliant Credit Union review
HSBC Premier Checking
- APY: 0.01%
- Foreign transaction fee: None
- Monthly service fee: $50 (waivable)
HSBC is generally not ideal for casual travelers due to its high qualifying deposit requirements, but it's a good option for those who need to consistently bank outside the U.S.
To qualify for an HSBC Premier Checking account, you'll need to have at least $100,000 in total deposits and investments or meet other criteria like having an HSBC-serviced U.S. residential mortgage or receiving at least $5,000 in monthly direct deposits.
HSBC Premier Checking allows no-fee transfers between HSBC accounts in the U.S. to other countries and offers a debit card with no foreign transaction fees. I also appreciate that HSBC Premier accounts provide up to $10,000 in emergency funds or emergency credit card replacement in two working days in some locations.
The Premier Checking Account only offers a 0.01% APY with a $5 minimum balance. In general, the best savings accounts — and even some other checking accounts — offer much higher APYs. Plus, the account has a hefty $50 monthly fee unless you meet certain criteria.
- No foreign transaction fees on debit card purchases
- Up to $10,000 of emergency cash may be available if you lose your wallet
- No conversion fees on foreign exchange transactions
- High account balance requirements and a $50 potential monthly maintenance fee
- Very low 0.01% APY
- Potential fees if you wire money to an outside bank
Citibank Regular Checking
- APY: None
- Foreign transaction fee: 3% (waivable with Citi Relationship Tier status)
- Monthly service fee: $15 (waivable)
While Citibank's Regular Checking account may not be the best for in-country banking, it offers free domestic and international wires through Citibank Global Transfer as long as you send them to another Citibank account. You can wire up to $50,000 per business day as a standard limit with higher limits for Citi Priority, Citigold, and Citigold Private Client Relationship Tier members.
I like that Citibank offers fee-free ATMs in over 20 countries. However, if you need to use an out-of-network ATM, Citibank will charge you a $2.50 fee unless you're a Citi Relationship Tier member. The ATM owner will also likely charge you a fee, so research the available options before you travel.
If you're not a Relationship Tier member, Citibank's Regular Checking account charges a 3% foreign exchange fee for using your debit card to make purchases. The account doesn't have a minimum opening deposit requirement or overdraft fees, but it does have a $15 monthly account maintenance fee. However, Citibank will generally waive the monthly fee if you're a Relationship Tier member or you have at least $250 in qualified monthly direct deposits.
- Free international transfers to other Citibank accounts
- Waived monthly maintenance fee if you meet specific criteria
- No minimum deposit requirement to open an account
- Only offers the best travel perks to high-balance account holders
- Fees for wiring money to a non-Citibank account
- No APY
Capital One 360 Checking
- APY: 0.10%
- Foreign transaction fee: None
- Monthly service fee: $0
I have a Capital One 360 Checking account and find it to be one of the best checking accounts for travel. It doesn't have monthly fees or minimum balance requirements. I also like that it doesn't charge foreign transaction fees when you use your debit card outside the U.S.
One of my favorite features is that it offers a 0.10% APY on your balance. While that's not a lot, it's more than many banks offer on checking accounts. If you use the 360 Checking account with a 360 Performance Savings account, which earns a 3.50% APY, you can earn a competitive APY and still easily transfer and access your money abroad.
However, you must visit a U.S. branch location to send international wire transfers, and you'll pay a $40 fee. Also, while Capital One doesn't charge a fee for using an out-of-network ATM outside of the U.S, the ATM owner might charge you one.
- No monthly maintenance fee
- No foreign transaction fee
- 0.10% checking APY; pairable with the 360 Performance Savings account (3.50% APY)
- $40 fee for international wire transfers
- Some partner ATMs may not accept cash deposits
- Limited physical branch locations
Learn more in our Capital One 360 review
Charles Schwab Investor Checking
- APY: 0.45%
- Foreign transaction fee: None
- Monthly service fee: $0
Charles Schwab is primarily known as an investment firm, but it offers a checking account linked to a Schwab brokerage account. You can transfer money between your brokerage account and checking account almost immediately. However, unlike some banks with no credit check requirements, Schwab will check your credit when you apply.
It's particularly beneficial for travelers who already have a Schwab brokerage account. The Investor Checking account doesn't have monthly service or overdraft fees, and it doesn't charge foreign transaction fees. It even pays a 0.45% APY on your checking balance.
My favorite feature is that Schwab will reimburse an unlimited amount of ATM fees worldwide when you withdraw cash using the Schwab Visa debit card.
- Unlimited ATM fee reimbursement worldwide
- 0.45% APY on your checking balance
- No foreign transaction or monthly maintenance fees
- Doesn't support outgoing international wires
- Must be linked to your Schwab brokerage account
- Doesn't support cash deposits
Learn more in our Charles Schwab review
How to find the best bank for international travel
Finding the right bank for your international travel can take some research. While many banks offer attractive features for travelers, only you know what will work best for your travel situation.
As you search for the best bank account before your trip, consider the following.
- Your traveling needs: The bank and type of account you need to access can vary based on where you're going or what you'll be doing. People on a business trip will likely have different account needs than those backpacking through Europe.
- Identify the features you want: Frequent travelers should look for banks without international ATM fees, no foreign transaction fees, strong mobile banking features, and good customer service, among other features.
- Research and compare options: Don't just sign up with the first bank account you find. Research your options and pay close attention to customer reviews, especially those mentioning how the bank handled issues during travel.
- Security: Traveling comes with potential security risks, so look for a bank with robust fraud protection features, such as the ability to lock or unlock your card through its mobile app and multi-factor authentication.
- Diversify: Consider carrying a combination of debit and credit cards so that if you have a problem with one card or account, you aren't stranded without a way to pay for food or lodging.
In general, it's smart to call your bank before your trip and let it know where you're going, which cards you intend to use, and that you may use your debit card at a foreign ATM. This can help you avoid problems on the road, and it helps your bank better monitor your account for fraud.
FAQs
How can I avoid foreign transaction fees when traveling internationally?
The best way to avoid fees while traveling internationally is to use a credit or debit card that doesn't charge foreign transaction fees. Additionally, you may be able to avoid currency conversion fees if you pay with your card in the local currency whenever possible.
Which bank is best for exchanging foreign currency?
Many banks and credit unions can exchange foreign currency and generally offer better rates than a currency exchange service. You can also look for in-network ATMs during your travels as they may offer the most competitive rate. Research the current exchange rates to find the best deal.
What's the best bank for no foreign ATM fees?
Charles Schwab is generally one of the best options for no foreign ATM fees. It will reimburse fees incurred when you withdraw cash using the Schwab debit card in local currency.
Are multi-currency bank accounts worth it when traveling?
Multi-currency bank accounts let you withdraw, receive, and send money in several currencies. It can be worth it if you travel frequently or live abroad for an extended period. Multi-currency bank accounts can also be helpful if you often send money to family in another country.
Bottom line
Traveling internationally is exciting, but it's also crucial to set yourself up for success by choosing a bank account that supports your travel needs. In general, good banks for travelers offer no foreign transaction fees for debit or credit card usage, and many don't charge ATM fees or will reimburse you for them. Additionally, look for a bank that has no monthly maintenance or overdraft fees and offers a high APY on your balances.
Besides considering the travel-friendly bank accounts discussed here, you can check out our list of easy bank accounts to learn about more options.