When you travel or shop online with an overseas business, many cards charge a foreign transaction fee of around 2–3% 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.
To qualify for this category, credit cards must:
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.
| Feature | Definition | Assessment | Weight |
|---|---|---|---|
| Foreign Exchange Fees | Fees charge on international transactions | Lower fees score higher | 50% |
| Travel Insurance | Complimentary travel insurance | Full score for complimentary insurances | 15% |
| Overseas ATM Fees | Fees charged by card provider to withdraw from international ATMs | Lower fees score higher | 10% |
| Purchase Rate | Interest rate on new purchases | Lower rates score higher | 10% |
| First-Year Fee | Annual fee charged in the first year of ownership | Lower fees score higher. $0 fee receives the maximum points. | 7.5% |
| Ongoing Annual Fee | Annual fee charged from the second year onwards | Lower fees score higher. $0 fee receives the maximum points. | 7.5% |
How much can I save with a 0% foreign transaction fee card?It depends how much you spend overseas and the fees you would pay if you used a different card. But as an example, if you spent $2,000 on a card with a 3% international transaction fee, it would cost you $60. If you had a card with a 0% foreign transaction fee you wouldn't pay anything, so you'd save the full $60.
And if you had a credit card with a higher fee of 3.4% on international transactions, you'd save even more ($68 in this example).
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.
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.
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 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 on these cards range from around 10% to 27% 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.
Some cards offer additional perks when you're travelling, which can include:
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.
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 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.
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.
The range of credit cards that offer no foreign transaction fees means it's worth looking for other features that you want on your credit card. For example frequent flyer points, 0% interest rate offers, cashback bonuses or something else. The key is to find a card with features that add value when you're shopping in Australia and overseas.
When you're planning to use your card overseas spending, keep the following details in mind:
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.
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going to Dubai,Barcelona, Mediterranean Cruise, Italy Greek Islands ,Amsterdam. what is best prepaid travel card.or credit/debit card and some cash , many different currencies?
Hi Tom,
Unfortunately, we can’t recommend one card over another. Your decision may be based on whether or not you can preload the currency beforehand to save on fees. For travel money depending on the users, currency/ spending needs the product will vary as well. For access to a range of different currencies and convenience a travel credit card can be useful. Check our full guide on travel money options. Press the “Go to site” button of the card that suits you to start your application. Just ensure you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
I hope this helps!
Cheers,
Jonathan
When I used my Anz Visa card in USA , the question was asked do I want to pay in US dollars or Australian dollars what’s best ??
Hi Fran,
Thanks for your question,
A foreign exchange rate which is 3% of the transaction value will apply to any transaction which is not in Australian dollars. So, to avoid this fee you can make the purchase in Australian dollars rather than US dollars.
I hope this helps!
Cheers,
Jonathan
How do I pay money onto my NAB Visa whilst in New Zealand?
Hi Derrick,
Thanks for your question.
In order to make payments to your NAB Visa card while you’re overseas, you can arrange payments in Australian dollars via Internet or telephone banking.
I hope this has helped.
Thanks,
Elizabeth
I live in Australia must I’m in New Zealand on holiday. I just purchased something on my ANZ visa and was asked did I want to pay in NZ or Aus dollars. Which is cheaper?
Hi Francia,
Thanks for your question.
A foreign exchange rate which is 3% of the transaction value will apply to any transaction which is not in Australian dollars. So, to avoid this fee you can make the purchase in Australian dollars rather than New Zealand.
I hope this has helped.
Thanks,
Elizabeth
How can I find out what the daily exchange rate would be for Indonesian Rupiah?
Hi dl,
Thanks for your question.
The exchange rates are set by the bank or card issuer, so to check this you will need to have a look on their website. You can do this by using the search function on the card issuer’s website or by googling ‘foreign exchange rates for (card issuer’s name)’.
I hope this has helped.
Thanks,
Elizabeth