What is the best bank to use when travelling abroad?

Choosing the Best Bank for Travel Abroad

When embarking on international adventures, selecting a bank that offers seamless and cost-effective banking services is crucial. Here are six top banks that provide exceptional international transaction perks:

1. Ally Bank:

• Key Features: No foreign transaction fees, unlimited free ATM withdrawals, competitive exchange rates.
• Pros: Wide ATM network, mobile app with helpful travel tools, excellent customer service.
• Cons: Physical branches may be limited, occasional delays in international transfers.

2. Bask:

• Key Features: No foreign exchange markup, no hidden fees, debit card with EMV chip technology.
• Pros: Extensive ATM network, user-friendly mobile app, real-time fraud monitoring.
• Cons: Limited branch locations, monthly account maintenance fee may apply.

3. Capital One 360:

• Key Features: No foreign transaction fees, no ATM withdrawal fees, transparent exchange rates.
• Pros: 24/7 customer support, convenient mobile app, multiple account options.
• Cons: May require a minimum balance to avoid monthly fees, limited ATM network overseas.

4. Charles Schwab:

• Key Features: No foreign transaction fees, unlimited ATM fee rebates, comprehensive travel insurance.
• Pros: Extensive global ATM network, highly rated mobile app, excellent customer service.
• Cons: Higher minimum balance requirements, limited physical branch locations.

5. SoFi:

• Key Features: No foreign exchange markup, no overdraft or maintenance fees, global ATM access.
• Pros: Mobile-first banking experience, competitive savings rates, access to investing services.
• Cons: Limited ATM network overseas, potential charges for cash deposits.

6. Revolut:

• Key Features: No exchange rate markup on weekends, free ATM withdrawals up to a certain limit, multi-currency account.
• Pros: User-friendly app with numerous travel features, convenient currency exchange options, no monthly fees.
• Cons: Potential fees for using ATMs beyond the free limit, currency conversion limitations.

Choosing the Right Bank

The best bank for travel abroad depends on your specific needs and preferences. Consider the following factors:

• Foreign transaction fees: Look for banks that offer no or low fees for using your card abroad.
• ATM access: Choose a bank with a wide ATM network in your travel destinations.
• Exchange rates: Opt for banks with competitive exchange rates to minimize conversion costs.
• Customer service: Select a bank with a responsive and helpful customer support team.
• Mobile banking: Look for banks with user-friendly mobile apps that facilitate easy account management while traveling.

By choosing the right bank for your international travels, you can minimize costs, maximize convenience, and enhance your overall travel experience.