Foreign currency transaction fees and travel banking options

Travelers using credit cards abroad face various costs, including bank commissions, withdrawal fees, and currency exchange markups. While many cards advertise “zero foreign currency transaction fees,” this typically means the issuing bank does not charge its own additional fee, rather than eliminating all conversion costs.

Users are still subject to the exchange rate spreads set by card networks like Visa, Mastercard, and American Express. For example, transactions in currencies other than the base currency are often converted to USD before being converted to the user's local currency, potentially adding layers of cost.

Different financial institutions offer varying structures. Some banks, such as Fortuneo Fosfo, provide unlimited free payments and withdrawals abroad subject to usage conditions, while others, like BoursoBank Ultim, may limit the number of free foreign currency withdrawals per month. Fintech options like Revolut, Wise, and N26 are also common alternatives, though they often involve specific monthly quotas or exchange limits.