Nilooka Dissanayake
Yvonne Taylor
David Boyd
What is a card with no international fees?
Most cards add an international fee on top of the price for any transaction in a foreign currency or with an overseas merchant. A few cards don't charge that fee.
Since the fee is usually 2-3%, overseas shopping can come with a surprise on your statement. You can even be charged when paying in Australian dollars if the merchant is based overseas.
Why a no foreign transaction fee card is worth it
The main reason is the saving on international purchases: you avoid the 2-3% fee on foreign-currency spending, which adds up over time.
They're handy for travellers and online shoppers. There's no need to carry local currency or a separate travel card.
Expert insight: cutting unnecessary FX costs
“Save on unnecessary fees with free FX spending. It's about scaling efficiently and keeping your finances streamlined.”
Chief Executive of ANNA Money
Watch for unexpected foreign fees
Foreign fees can appear when you least expect them, such as shopping online with a store that bills from overseas. A no-fee card means no nasty surprise on your statement.
Other international fees to watch
Using a card at an overseas ATM can trigger more than the foreign fee: your issuer's overseas ATM fee, a cash advance fee, interest at the standard rate (often 20% p.a. or more), the ATM operator's fee, and even balance-enquiry charges.