Editors' note: This is a 2002 story; please also see our newest story on the topic
of currency
conversion.
Using a credit card, debit card or ATM card overseas is getting
more expensive. Some major banks are charging 2-percent fees on
credit and debit card purchases made outside the United States on
top of the 1-percent currency-exchange fees levied by Visa and MasterCard.
Major banks are also charging a $1.50 to $3 fee every time a customer
grabs cash at an overseas ATM.
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Here's a look at the overseas fee policies of some of the nation's
largest banks and credit card companies, excluding the traditional
1-percent fees from Visa and MasterCard:
Overseas
fee policies
Financial institution
Credit card purchase
Debit card purchase
ATM withdrawal
Bank of America
2%
up to 2%
up to $3 fee if customer uses ATM outside
Global ATM Alliance
Citibank
2%
none
Fee varies based on customer account
Chase
2%
2.5%
$3
Bank One
2%
2%
$1.50
Wells Fargo
2%
2%
$3
SunTrust
none
none
$1.50
First Union/Wachovia
none
none
$1.50
Providian
2% on platinum Visa cards only
N/A
N/A
Capital One
none
N/A
N/A
MBNA
2%
N/A
N/A
American Express is not associated with Visa or MasterCard. American
Express customers pay a 2-percent fee on every credit card purchase
made outside the United States.
Under the Global ATM Alliance, Bank of America
customers have free access to Barclays ATMs in the United Kingdom,
Deutsche Bank ATMs in Germany and BNP Paribas ATMs in France.
