No Foreign Transaction Fee Credit Cards

How do credit cards with no foreign transaction fees work?

When you travel or shop online with an overseas business, many cards charge a foreign transaction fee of around 2–3.5% of the purchase amount. But credit cards with 0% foreign transaction fees waive this cost or give you a rebate, helping you save money on international transactions.

Not after a credit card? You can also get a debit card with no foreign transaction fees.

How we calculate Travel Credit Cards Finder Score

Read full methodology

What different scores mean

9+

Excellent

These cards offer lower currency conversion fees and relevant perks for travelers like insurance and ATM access.

7+

Great

Reasonable cards for travelers, however can potentially charge higher fees.

5+

Standard

While eligible to be used to travelers internationally, these cards may charge currency conversion, overseas ATM withdrawal and ongoing fees.

0+

Basic

These cards should be used for international purchases only in the event of an emergency.

The lowdown on Finder Score

To qualify for this category, credit cards must:

• Be available to general consumers.

We analyse 250+ credit card products and assess six features, assigning them scores out of 10. Finder Score is weighted according to their importance within the product category.

The methodology is designed by our insights and editorial team. Commercial partnerships carry no weight, all products in the database are scored objectively.

The same card will receive a different score within each category, depending on the features being assessed (e.g.Travel Credit Cards, Balance Transfer),

Our intention is to enable informed financial decision-making without the need to analyse numerous individual data points. Please do consider your own financial circumstances when making a decision.

Finder Score metric assessment - Travel credit cards

Number crunching the Finder Score

• 9+ Excellent - These cards offer lower currency conversion fees and relevant perks for travellers like insurance and ATM access.
• 7+ Great - Reasonable cards for travellers, however can potentially charge higher fees.
  5+ Satisfactory - While eligible to be used to travellers internationally, these cards may charge currency conversion, overseas ATM withdrawal and ongoing fees.
• Less than 5 – Basic - These cards should be used for international purchases only in the event of an emergency.

0% Foreign Fee Credit Card for Businesses

Name	Finder Score	Foreign currency conversion fee	Interest-free period	Purchase rate p.a.	Annual fee
Cape Mastercard Interest-Free Days Business Credit Card Mastercard Business Rewards	Finder score 9.9 Excellent	Foreign currency conversion fee 0%	Up to 30 days on purchases	Purchase rate p.a. 0%	Annual fee $383.88	Go to siteMore Info Compare	PTY LTD Businesses only. Account fee waived for first month or 20% off annual billing. Plus 0% foreign transaction fees, 0% purchase interest rate, a credit limit up to $500,000 and travel inconvenience cover.

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Business debit card with no foreign transaction fee

Promoted

Airwallex Borderless Business Card

Supports 10 multiple currencies (including AUD, NZD, GBP, USD and EUR) and offers 10% cashback on the first US$1,000 equivalent of eligible international spending.

Go to site

Keep in mind that the cost of foreign transaction fees may not be obvious straight away, as they are added as separate transactions on your credit card account.

The Australian Competition and Consumer Commission (ACCC) has also warned people that some major online brands will charge foreign transaction fees, even if the website ends in .com.au or the price is shown in Australian dollars.

Finder Credit Card Award Winner

The Bankwest Zero Platinum Mastercard was named the Best Travel Credit Card at the 2024 Finder Awards. Another consecutive win for the Bankwest Zero Platinum as it offers a combination of no foreign transaction fees, no annual fee and comprehensive overseas travel insurance. Its 14.99% interest rate on purchases scored well and helped establish it as a card that travellers can use save money on a range of costs.

How to compare no foreign transaction fee credit cards

• 0% fee requirements

Certain credit cards automatically waive foreign transaction fees when you make an international purchase.

Others offer a rebate on foreign transaction fees when you meet specific requirements, such as spending a set amount per month. If that's the case, you could still be charged a fee if you don't meet the requirements.

• Annual fees

Annual fees typically range from $29 to $400 or more for higher-end cards. You can weigh this cost against the value you'd get from 0% foreign transaction fees and any other perks to help choose a card.

If the 0% foreign fee savings aren't as much as you thought, you could be better off comparing $0 annual fee credit cards. You could also consider a card that offers both no foreign transaction fees and no annual fee, although there are only a few of these on the market.

• Interest rates

Interest rates on these cards range from around 10% to 28% for purchases. If you pay off your credit card as you go – or pay the total by the due date on your statement – you'll typically get interest-free days on your purchases.

But if you end up carrying over a balance, a low rate credit card could be a more cost-effective option.

• Other travel benefits

Some cards offer additional perks when you're travelling, which can include:

• Complimentary travel insurance
• Airport lounge access
• Reward points for your spending

If there's another benefit you want, you could use Finder's table filters to narrow down your comparison of 0% foreign transaction fee cards. Just make sure you check what requirements you need to meet to use the perks.

• Security features

Australian credit cards offer zero liability for fraudulent transactions and 24-hour emergency support services. Most also offer fraud-monitoring services.

Other security features can include virtual cards, transaction limits for overseas spending, temporary account blocks and extra online security through Visa Secure, Mastercard SecureCode or American Express SafeKey.

• Overseas ATM withdrawal fees

Overseas ATM fees typically cost around $5 or between 2-3% of the total transaction. And that's not including any charges added by the overseas ATM operator.

There are credit cards that offer $0 international ATM withdrawals, but keep in mind that you'll still pay cash advance fees and any third-party charges.

• Cash advance costs

When you use a credit card to withdraw cash, buy foreign currency or make any other cash advance transaction, you'll pay a fee worth around 2-4% of the transaction. You'll also be charged interest at the cash advance rate, which is higher than the purchase rate on most credit cards.

If you need to get cash when you're overseas, you can avoid these costs by using a debit card or prepaid travel card instead.

More credit card tips for travellers

When you're planning to use your card overseas spending, keep the following details in mind:

• Daily cash withdrawal limits. Some credit card providers have a limit on the amount you can withdraw from an ATM using your credit card – and it could be lower than your available credit limit. Check your credit card account details through Internet or mobile banking, or call your provider for specific information on these limits.
• Global ATM alliance networks. Many Australian credit card providers have ATM alliance networks that extend around the world and allow you to get cash out overseas without paying an ATM withdrawal fee. For example, a credit card from Westpac, St.George, BankSA or Bank of Melbourne gives you access to the Global ATM Alliance network, which includes Westpac NZ (New Zealand), Barclays (UK), Bank of America (US) and Deutsche Bank (Germany and Spain).
• Exchange rates. Currency exchange rates will apply when you use an Australian credit card for a transaction in another currency. This rate can fluctuate daily, making it harder to work out the cost in Australian dollars (until it's added to your transaction list). Check with your credit card provider to find out when exchange rates are updated, or just keep an eye on your transaction list and available balance to work out how much you've spent once the transaction is converted to Australian dollars.

Meet our money expert Graham Cooke

Graham heads Finder's insights team and specialises in a variety of financial topics, including credit cards, loans, insurance and investing. He regularly appears on TV including ABC News, Sunrise and Today, and edits Finder's Insights column.

Graham's top credit card tips

• Credit cards often charge a significant foreign transaction fee, so check your card's terms before you travel.
• A card with low or no international transaction fees could help you save when travelling or shopping online with overseas businesses.
• You could also consider debit cards which offer low transaction fees or refund ATM charges.

Frequently asked questions

• What exactly is currency conversion?

  When you use a credit card to make a transaction in another currency, it will be converted back to Australian dollars based on the exchange rate that's applicable for your credit card. For example, if you spent US$100 and the exchange rate was US$0.67 to AUD$1, this transaction would show up on your credit card account as AUD$148.85 (to the nearest cent).

• If I'm given the choice, what currency should I pay in?

  Sometimes when you're travelling, a business will give you the option of paying in the local currency or in Australian dollars. If you choose to pay in Australian dollars, the transaction will be processed using Dynamic Currency Conversion. This usually costs you a lot more than paying in the local currency.

  According to the ACCC, this is because overseas banks "usually add a mark-up to the exchange rate". And depending on your credit card, you could still be charged an international transaction fee.

• Realistically, how many travel money options do I need?

  It's often useful to have a couple of different ways to spend money when you're travelling. As well as a credit card, you may want to buy foreign currency before you go or take a debit card in case you end up needing cash. Another option is getting a prepaid travel card that lets you spend money in different currencies so you can avoid foreign transaction fees.

Written by

Amy Bradney-George

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise

Amy has written 565 Finder guides across topics including:

• Credit cards
• Frequent flyer
• Credit score
• BNPL
• Money management
• Sustainability