Avoid bank fees at ATMs abroad

Each time you withdraw cash abroad, in addition to fees charged by the ATM, your own bank charges you for using your bank card outside your home country. There are usually two types of fees charged by your bank:

  • a fixed overseas withdrawal fee, usually around $5 USD, and
  • a foreign transaction fee of 1–3% of the total withdrawal amount.

This means that each a single withdrawal of $100 USD abroad costs you up to $8 USD extra. While not much for a single withdrawal, these fees quickly add up (e.g., $80 USD for 10 withdrawals).

Solution:

Wise offers cards for travelers with a much better fee structure for withdrawing, spending, and sending cash abroad. Sign-up only takes a few minutes. Learn more Wise logo here on the official Wise website.