No foreign transaction fee bank of america

How much is the Bank of America foreign transaction fee?

This question is about Bank of America Credit Cards

Sebi Mitchell, Credit Cards Moderator

@sebim 06/08/22 This answer was first published on 01/29/21 and it was last updated on 06/08/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

The Bank of America foreign transaction fee is either 3% or 0% of the converted US dollar amount of all international transactions, depending on the BofA card. Bank of America credit cards with 0% foreign transaction fees include the Bank of America® Premium Rewards® credit card and the Bank of America® Travel Rewards credit card.

No foreign fee Bank of America cards clearly are a better choice for international spending than the ones with a 3% surcharge for everything you buy abroad. That’s actually one of the highest foreign fees on the market. So international shoppers need to be careful when picking a Bank of America credit card and perhaps consider cards from other issuers too.

  • Some Bank of America credit cards have 3% foreign transaction fees.
  • Other Bank of America credit cards have 0% foreign transaction fees.
  • Foreign transaction fees can apply when you travel abroad or make online purchases from foreign merchants.

At 3%, the Bank of America foreign transaction fee is too steep for anyone planning to make international purchases. But the cards that charge it are meant more for everyday spending than travel. The good news is there are a handful of foreign fee-less alternatives.

Best Bank of America credit cards with no foreign transaction fees:

  • Biggest Initial Bonus: Bank of America® Premium Rewards® credit card
  • No Annual Fee: Bank of America® Travel Rewards credit card
  • Travel Benefits: Bank of America® Premium Rewards® Elite Credit Card
  • For Students: Bank of America® Travel Rewards Credit Card for Students
  • For Business: Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

Keep in mind that more and more cards from other issuers are shedding their foreign fees. So,  if you’re not loyal to Bank of America, you can check out our editors’ latest picks for the best no foreign transaction fee credit cards to weigh your options.

No foreign transaction fee bank of america

Chris Kohl, Member

@kohl_chris 03/20/18 This answer was first published on 03/20/18. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

My Bank of America® Customized Cash Rewards credit card has 3%, but I'm always careful where I use it. If you're looking for a BoA card with no FTF's, I know the Bank of America® Travel Rewards credit card doesn't have any.

Answer Question

People also ask

How much are Visa foreign transaction fees?

The Visa foreign transaction fee is usually either 0% or 3%, depending on which Visa credit card or debit card you have. The Visa foreign transaction fee is typically 0% on travel rewards credit cards, which are built for spending all around the world. And some credit card companies, such as Capital One, don’t charge foreign fees on any of their cards, Visa or Mastercard. But many other Visa cards come with foreign transaction fees of 1%, 2% or even 3%. read full answer

If your Visa card does have a foreign transaction fee, you’ll have to pay it any time you make a purchase from a merchant that’s based in a country other than the U.S. So that means it applies to online purchases, too.

While it’s difficult to list every Visa’s foreign transaction fee – the are a ton of Visa cards – we can go over a few popular examples.

Here are some Visa foreign transaction fees:

  • All Capital One Visa cards: $0 foreign fee
  • All USAA Visa cards: 0% foreign fee
  • All PenFed Visa cards: 0% foreign fee
  • Chase Sapphire Preferred® Card: $0 foreign fee
  • Bank of America® Travel Rewards Credit Card for Students: 0% foreign fee
  • Bank of America® Premium Rewards® credit card: 0% foreign fee
  • Chase Freedom Unlimited®: 3% of each transaction in U.S. dollars foreign fee
  • Wells Fargo Reflect® Card: 3% foreign fee
  • Credit One Bank® Platinum Visa®: 3% or $1, whichever is greater foreign fee

As you can see, there are a lot of opportunities to get a Visa card with no foreign transaction fee. That’s definitely a good idea before traveling (or shopping) abroad, since Visa is accepted just about everywhere that takes credit cards worldwide.

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Which Bank of America Card has no foreign transaction fee?

Bank of America® Travel Rewards credit card Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.

Does Bank of America checking have foreign transaction fees?

A Bank of America International Transaction Fee of 3% will apply when converting your currency. 9 • If you have any issues with your cards while traveling, please call the number on the back of your card.

Can I use my Bank of America debit card internationally?

Traveling Internationally? Use your Bank of America ATM or debit card at one of our International partner ATMs and avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer or balance inquiry 1 as well as the ATM operator access fee.

What does it mean when it says no foreign transaction fee?

No foreign transaction fee means that a credit card or debit card does not include a surcharge for international purchases. In other words, a consumer won't be charged extra for using the card outside of the U.S. Foreign transaction fees are usually charged as a percentage of every transaction made abroad.