How much is international transaction fee?

Commonwealth Bank, on the other hand, charges a more complex fee for its Debit Mastercard holders. The fee is either $3.50 or the foreign currency equivalent using the Visa exchange rate at the time of withdrawal, whichever is higher. This dynamic pricing can make it challenging to estimate the total cost of a transaction in advance.

When engaging in international transactions, individuals and businesses alike must be mindful of the associated fees. These fees can vary greatly depending on the bank and the product being used. Understanding these costs is crucial to avoid unexpected expenses.

One common fee encountered during international transactions is the Overseas ATM Fee. This fee is charged by banks when their customers use an ATM located outside their home country. The percentage charged can differ significantly between banks.

For instance, ANZ credit cardholders may face a 3% Overseas ATM Fee when withdrawing cash from a foreign ATM. This percentage is applied to the amount withdrawn, adding to the overall cost of the transaction.

Another bank, ING, offers the Orange Everyday card, which charges a flat fee of $3 or a percentage-based fee of 3%, whichever is greater, for international ATM withdrawals. This structure provides some predictability for customers.