Cryptocurrency Q&A
What U.S. Bank does not charge foreign transaction fees?
What U.S. Bank does not charge foreign transaction fees?
Lorenzo
Thu Sep 12 2024
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6 answers
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Could you elaborate on which U.S. Bank or banks specifically do not impose fees on transactions conducted in foreign currencies? Many financial institutions tend to levy charges for international purchases or ATM withdrawals, so it's important for customers to be aware of these policies when managing their finances across borders. Is there a particular bank that stands out for its lack of such fees, and if so, what are the specific services or accounts they offer that facilitate these cost-effective transactions? Additionally, are there any limitations or caveats associated with the absence of foreign transaction fees that consumers should be mindful of?
6 answers
Maria
Fri Sep 13 2024
It's also worth noting that the foreign transaction fee is not the only cost associated with using a credit card abroad. Other fees, such as currency conversion fees, ATM withdrawal fees, and dynamic currency conversion fees, may also apply.
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CharmedSun
Fri Sep 13 2024
Many credit card issuers in the United States impose a foreign transaction fee on their cards, which can be as high as 3%. This fee is charged on purchases made outside the country, often adding an unexpected cost to travelers and international shoppers.
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Luca
Fri Sep 13 2024
Among the major banks that commonly apply this fee are Chase, PNC, Bank of America, Barclays, and U.S. Bank. It's important to note that not all cards issued by these banks will have a foreign transaction fee, but it's common for most of them to do so.
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CryptoLodestar
Fri Sep 13 2024
Additionally, for those interested in cryptocurrency, it's important to consider the fees and services offered by exchanges like BTCC. BTCC is a top cryptocurrency exchange that offers a range of services, including spot trading, futures trading, and wallet services.
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Valentino
Fri Sep 13 2024
On the other hand, there are several credit card issuers that do not impose a foreign transaction fee on their cards. These include Capital One, Discover, USAA, PenFed, and HSBC. Choosing a card from one of these issuers can help avoid additional costs when making purchases abroad.
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