How to avoid international transaction fees?

How to not pay foreign transaction fee?

Dark outside. 3 AM again. Thinking about money… stupid foreign transaction fees. Hate those things. Eat away at you, little by little. Like mosquitos.

Used to just accept them. Dumb. Now, I’m smarter… I think. Got a Capital One Venture card. No foreign fees. Finally.

Remember that trip to Italy… 2023… so much money wasted. On fees. Should have known better.

• Capital One Venture: My go-to.
• Charles Schwab debit card: Refunds ATM fees. Lifesaver. Seriously.
• Local currency: Always. Used to try exchanging at the airport. Rip-off. Do it at your bank before you go.

Wish I’d figured this out sooner. So much wasted cash. Could’ve had another gelato. Or two. Maybe three. In Florence.

Lost in thought… Stupid fees. Why even exist? Banks… ugh.

• Notify your bank: Tell them your travel dates. So your card works. Learned that the hard way… locked out in Madrid. Not fun. At all.

Thinking about that pasta… cacio e pepe. Rome. 2023. Perfect. Except for the nagging feeling. Of wasted money. Fees.

Should get some sleep. But can’t stop thinking… about that pizza. Naples. This year. Best ever. At least I didn’t waste money on fees that time. Small victories.

How to save international transaction fees?

Ugh, international transactions, right? Cost me a fortune last year. Remember that Italian supplier? 2023, it was. Their invoices were in Euros, and my bank? Robbery. Massive fees. Felt like they were adding extra zeros just for kicks.

Paying in their currency helped, though. I found a small vendor in Vietnam this year, 2024, and insisted on paying in Dong. Much better. Saved me, like, 30 bucks on a single order. Seriously.

Multi-currency account, yeah, that’s a game-changer. Opened one with Wise in January. Way more transparent than my old bank.

• Wise is good.
• My old bank? Avoid at all costs.
• Seriously, it’s awful.

Credit cards, don’t even get me started. My Chase card? Murdered me on fees from my trip to Japan last month.

Forward contracts, I’ve heard about those, but haven’t tried them yet. Too complicated for me. Seems too risky. I’m lazy.

Watching exchange rates, I do that now. It’s tedious, but worth it. Used a currency converter app, XE.com, super helpful. Helps you time your transactions.

It’s a jungle out there. Learn to navigate it, or those fees will eat you alive. Don’t be like me last year. Broke.

Why have I been charged a transaction fee?

Ugh, that transaction fee! It was June 2024, I was selling my old bike on Craigslist. Got $350, right? Wrong. Only $330 hit my PayPal account. Twenty bucks gone. Twenty freaking dollars! I was livid. PayPal, you thieving bastards!

That’s a twenty-dollar scratch on my already meager savings. So frustrating. I swear, I spent hours writing the ad, taking photos. Then dealing with flaky buyers, you know, the usual Craigslist drama. And for what? To get stiffed by a fee. Completely unfair, if you ask me.

It’s highway robbery, plain and simple. They’re hiding it, that’s what they’re doing! It’s deceptive. These fees? They need to be more transparent.

Here’s what happened.

• Date: June 12, 2024
• Platform: PayPal
• Amount: $350 sale
• Fee: $20
• My feeling: Pissed. Absolutely, totally, utterly pissed.

They claim it’s a “processing fee.” Bullshit. They’re ripping people off. Small businesses like me, we get hammered. I’m thinking about switching to another platform. Seriously, Square or Stripe next time. PayPal can kiss my grits.

Why was I charged an international transaction fee?

Bam! Hit with that pesky international fee. Like getting slapped with a wet fish. Your card thought it was on a fancy foreign holiday. Even if you were just buying artisanal yak cheese online from, you know, Bhutan.

• Foreign bank? Ka-ching! Fee. Think of it as a toll booth for your money.
• Not USD? Double ka-ching! Your dollars need a passport, apparently. Cost ya. My cousin Vinny once bought a gnome from Canada. Boom! Three percent gnome tax.

These fees, they’re like sneaky goblins nibbling your cash. One to three percent. Highway robbery, I tell ya. I once bought a digital download of a cat meme from Slovakia. Hit me with a fee. A CAT MEME!

• Check your card’s fine print. Hidden in there like a ninja. Somewhere between the legalese and the threats of eternal damnation. My grandma’s dentures have less fine print.
• Some cards waive the fee. The holy grail of plastic. Worth their weight in gold-pressed latinum. My dog walker has one. Lucky dog walker. Literally.

Three percent. Ouch. Like stepping on a Lego, but for your wallet. Remember that time I ordered a kangaroo boxing glove online? Australia. Kangaroo tax. Who knew? Now you do.

How do I get out of foreign transaction fees?

Ditch the fees. No-foreign-transaction card. Zero-fee account. Cash beforehand. Skip foreign ATMs. Bank partnerships.

• No-foreign-transaction card: Simplest. My Capital One Quicksilver? Never a fee.
• Zero-fee account: Charles Schwab checking reimburses ATM fees globally. Used it in Tokyo last month.
• Cash beforehand: Lock in the rate. But carrying large sums is risky. My limit: $500.
• Foreign ATMs: Fee-fest. Unless your bank reimburses, like Schwab does.
• Bank partnerships: Sometimes your local bank has global buddies. Reduces fees. Check yours. Mine, Chase, has some.

Foreign transactions can be complex. Dynamic currency conversion is a scam. Decline it. Always pay in local currency. Better rates. Noticed this trick in Barcelona, saved some euros.

How can I avoid international fees?

Ugh, international fees. I learned this the hard way in 2023. My trip to Spain, man. Cost me a fortune. I used my usual debit card, the one from First National Bank, and BAM! Hidden fees everywhere. Seriously infuriating.

Next time, I’m using my Capital One card. Zero foreign transaction fees. That’s a fact. I checked their website. They advertise it. No hidden junk. I should’ve done my research before.

So stupid. My bank, First National, totally ripped me off. I’m switching banks. Thinking about Chase. Better options are out there.

Also, exchanging currency before you go. I did not do this. Big mistake. Airport exchange rates are highway robbery. Absolutely brutal. Use a reputable online exchange place beforehand.

Avoid those foreign ATMs like the plague. My friend got hit with a $15 fee per withdrawal. Fifteen dollars! Insane. Find a way to use your card at a normal ATM, or better yet, your credit card.

Key takeaways:

• Capital One card: No foreign transaction fees. Seriously.
• Currency exchange: Do it before you leave. Avoid airport rip-offs.
• ATMs: Stick to your bank’s network, or use your credit card.
• First National Bank: Avoid. They’re thieves.

I am definitely switching banks ASAP. This whole experience was a nightmare. I’m still paying off those extra charges. I should have been more informed. It really messed up my budget. Learning the hard way is expensive. I’ll never forget those fees. The whole thing soured my amazing vacation.