American Express Foreign Transaction Fees [2024 Guide]
American Express is a popular card network which issues cards in its own name – and also through banks and credit unions. This guide looks at the cards American Express issues under its own brands and partnerships, with a focus on how to use your AmEx card internationally, including the fees you should consider.
Join us as we cover the American Express common card fees, limits, and exchange rates. To help you compare AmEx cards against the wider market, we’ll also touch on some alternatives like Wise and Revolut that could offer more flexibility with low transaction fees and better exchange rates.
Table of contents
- Can I use my American Express card internationally?
- Does AmEx have foreign transaction fees?
- International ATM fees
- Alternatives to American Express
- AmEx exchange rates
- American Express cards that have no transaction fees
- How to avoid foreign transaction fees when traveling
Can I use my American Express card internationally?
Yes. American Express cards can be used internationally, anywhere you see the AmEx logo. That includes when you spend with merchants, and when you’re making cash withdrawals at an ATM.
It’s useful to know that American Express isn’t as commonly used in some regions as it is in the US. If you’re traveling it’s helpful to get an idea ahead of time, whether or not AmEx is a popular card network in your destination. There’s a merchant locator map available on the American Express website which can help, although it’s not supported in all destination countries.
To be on the safe side, it’s worth carrying a couple of different payment methods, including cards issued on other networks like Visa and Mastercard, just in case you struggle to pay with AmEx from time to time when you’re away.
Don’t forget, also, that even if your AmEx card is accepted where you’re headed, it may not be the cheapest available option, due to foreign transaction and currency conversion costs. We’ll explain how these fees work in depth in just a moment, and we’ll also give some helpful tips on how to limit or avoid these fees when you travel.
How does American Express compare on international fees?
Let’s compare American Express against a couple of alternative providers – Wise and Revolut, and another major US bank – Bank of America, to see how the international fees can vary across different services.
| Provider/Service | Exchange rate | Foreign transaction fee | International ATM fee | Other costs to watch out for |
|---|---|---|---|---|
| American Express | AmEx exchange rate | Varied between different cards – the cards we have picked out to showcase in this guide have fees from 0% to 2.7% | Varied between different cards – with credit cards, there’s typically a 10 USD or 5% cash advance fee (whichever is higher) | Cards may have annual fees Credit cards have interest, late payment fees and penalties if you don’t repay in full |
| Wise | Mid-market exchange rate | No foreign transaction fee – currency exchange from 0.41%. Free to spend from currencies you hold. | 2 free withdrawals to 100 USD/month free, then 1.5 USD + 2% | No annual or monthly fees. 9 USD card order fee |
| Revolut | Mid-market exchange rate to plan limit | 0.5% fair usage fee once plan limit is exhausted. 1% out of hours fee may apply. No-fees applies when spending from currencies you hold. | No-fee withdrawals to plan limit, 2% after that | Includes a no-fee Standart plan. Monthly fees may apply to your account, depending on the tier you select |
| Bank of America | Bank of America, or card network exchange rate | Varied between different cards – 3% for most debit cards, and many credit cards Some no foreign transaction fee credit cards do exist | Varied between different cards – some fee free ATMs are available internationally for debit card withdrawals With credit cards, there’s typically a 3% cash advance fee | Cards may have annual fees Credit cards have interest, late payment fees and penalties if you don’t repay in full |
As you can see, the fees you face when using a card internationally can vary pretty widely depending on the bank or provider, and whether you pick a debit or credit card. Fees that are calculated as a percentage of your spending are especially important to look out for.
The percentage amount might seem pretty small, but as it’s applied to every dollar you spend when you’re away from home, the total amount you pay can mount up quickly.
We’ll cover more on this and the providers we’ve picked out here, in a few moments.
Does AmEx have foreign transaction fees?
There is a broad selection of cards issued by American Express, or through banks on the American Express network. Some are credit cards, and some are debit cards, and they all have slightly different features and fees, to suit different customer needs.
Foreign transaction fees – when they apply – are a percentage added to the bill every time you spend in a foreign currency. That could be when you’re traveling abroad, or when you’re at home but shopping online with a foreign merchant. Foreign transaction fees can also be added when you make cash withdrawals – basically any time you spend in a currency other than USD.
Not all AmEx cards have a foreign transaction fee. However, you’ll often find that the cards which waive this charge have other costs – such as annual fees – to pay. To paint a picture, here are the key international and ongoing costs for 3 popular American Express cards:
| American Express Card | Foreign transaction fees and exchange rates | Maintenance fees | Rewards |
|---|---|---|---|
| Blue Cash Everyday | 2.7% foreign transaction fee AmEx exchange rate | No annual fee | 3% cash back on select spending |
| Platinum | No foreign transaction fee AmEx exchange rate | 695 USD | Up to 5x rewards on travel spend, partner offers and cashback schemes |
| Delta Skymiles Gold | No foreign transaction fee AmEx exchange rate | 99 USD | 2x rewards on select spending |
Where an American Express foreign transaction fee applies it can be 2.5% – 3%. This is added every time you spend in a foreign currency. There are ways to stick with AmEx and avoid the foreign transaction fee, by ordering a specialist no-foreign-transaction-fee card with American Express. However, as you can see above, this may well simply mean you have to pay a higher annual fee.
Before you choose, it’s worth weighing up whether or not the additional charge is worthwhile based on what you’ll save on foreign transaction fees. Or, perhaps you’d prefer to pick a different card type from a specialist like Wise or Revolut. We’ll look at these – and how they can help avoid international fees – in a while.
American Express international ATM fees
ATM cash withdrawal fees apply when you want to withdraw money from your account when you are abroad. For debit cards, these may be fixed fees, but for credit cards, like the AmEx cards we looked at earlier, they may be a percentage of the amount you withdraw. There may also be more than one fee to think about.
Here’s a rundown of the cards we’ve profiled above, and the fees you’ll pay when using an ATM:
| AmEx card type | Cash Advance fee at an ATM | Foreign transaction fee | ATM operator fee |
|---|---|---|---|
| Blue Cash | 10 USD or 5% cash advance fee (whichever is higher) 29.99% APR for cash advances | 2.7% | Varies by country and operator |
| Platinum | 10 USD or 5% cash advance fee (whichever is higher) 29.99% APR for cash advances | No fee | Varies by country and operator |
| Delta Skymiles Gold | 10 USD or 5% cash advance fee (whichever is higher) 29.99% APR for cash advances | No fee | Varies by country and operator |
Here’s a quick reminder of the alternative providers we looked at earlier, compared to the AmEx ATM fees:
- AmEx (credit cards): 10 USD or 5% cash advance fee (whichever is higher)
- Wise debit card: 2 free withdrawals to 100 USD/month free, then 1.5 USD + 2%
- Bank of America (credit cards): Usually a 3% cash advance fee
- Revolut: No-fee withdrawals to plan limit, 2% after that
American Express card alternatives
Using your AmEx card abroad may be convenient and secure, but it’s not the most common network in many parts of the world. Carrying another card on a different network is a smart move, just in case – plus it may help you to cut down on foreign transaction fees and get better overall currency exchange rates.
Here are a few American Express card alternatives to consider:
| Wise | Revolut | Discover | Bank of America | |
|---|---|---|---|---|
| Card types | Debit | Debit | Debit and credit | Debit and credit |
| Card order fee | 9 USD | No fee | No fee | No fee |
| Monthly/annual fee | None | Monthly fees may apply depending on account tier | None | Annual fees may apply depending on the card you select |
| Currencies supported | 40+ currencies for holding and exchange Spend in 170+ countries | 25+ currencies for holding and exchange Spend in 150+ currencies | USD only for bill calculation Spend globally wherever network is accepted | USD only for bill calculation Spend globally wherever network is accepted |
| Foreign transaction fee | None | None | None | 3% for debit cards, and many credit cards Some credit cards with no foreign transaction fee are available |
| ATM fee | 2 free withdrawals to 100 USD/month free, then 1.5 USD + 2% | No-fee withdrawals to plan limit, 2% after that | Typically a 10 USD or 5% cash advance fee (whichever is higher) | With credit cards, there’s typically a 3% cash advance fee |
| Exchange rate | Mid market rate, currency exchange from 0.41% | Mid market rate to plan limit, 0.5% fair usage fee after that | Network rate | Network rate |
Which card provider is right for you will depend a lot on the type of card you prefer, and how you like to manage your money. Credit cards can be convenient for spreading costs over a few months, but can also be more expensive overall.
Debit cards often have lower overall fees and can come with extra perks like multi-currency holding features, but you’ll need to have the funds to add to your account before you spend. We’ll look at each of these American Express alternatives in a bit more detail next.
Wise
- Wise card is best for: Holding 40+ currencies, with mid-market exchange rates and a linked card for spending in 170+ countries
- Foreign fees & exchange rates: Free to spend any currency you hold, mid-market currency exchange with fees from 0.41%
- Is it safe to use internationally? Yes – Wise is a large, well regulated and trusted specialist provider
Open a Wise account online or in the Wise app, to hold 40+ currencies, send payments to 70+ countries, and spend with your linked Wise card in 170+ countries. It’s free to spend from any currency you hold. You can also spend in other 40+ currencies, Wise uses midmarket exchange rate to convert the currency and charges a small conversion fee.
You’ll get some fee free cash withdrawals every month, with low fees after that – plus if you need to receive money from overseas you can do that too, with your own local bank details for 10 currencies.
Revolut
- Revolut card is best for: Picking the account plan to suit your needs, with 25+ supported currencies and some fee free currency exchange every month
- Foreign fees & exchange rates: Free to spend any currency you hold, mid-market currency exchange to plan limit, with a 0.5% fee after that
- Is it safe to use internationally? Yes. Revolut is licensed and regulated around the world, and delivers services safely
You can get a free Revolut account, or choose to upgrade to an account with a monthly fee which also has extra features and perks.
All accounts have some currency exchange with the mid-market exchange rate every month, and a fair usage charge of 0.5% after that. Some out of hours fees may also apply if you’re converting at the weekends or when markets are closed.
Discover
- Discover cards are best for: No annual fee, no foreign transaction fee credit cards
- Foreign fees & exchange rates: Cash advance fees of around 5% usually apply to use an ATM, exchange rates are set by Discover
- Is it safe to use internationally? Yes. Discover is well regulated, although the network isn’t as popular in some regions as others, so it’s worth checking your destination ahead of time
Discover has a great range of credit cards with no annual fee and no foreign transaction fee to pay. As with all credit cards, there are still interest charges to think about if you don’t pay off your bill in full every period, but this can give an easy way to spend at home and abroad with few fees, if you do.
Bank of America
- Bank of America cards are best for: Well supported bank with credit and debit cards, including some credit cards with no foreign transaction fees and great travel perks
- Foreign fees & exchange rates: Cash advance fees of around 3% usually apply to use an ATM, exchange rates are set by the card network (Visa or Mastercard for example)
- Is it safe to use internationally? Yes. Bank of America is fully licensed and regulated, and safe to use
Bank of America has a comprehensive range of cards, including credit and debit cards. There’s a 3% foreign transaction fee to pay for all debit cards, but there are some credit cards which waive this fee, including some which also offer reward earning opportunities and tailored travel benefits. Weigh up any annual fee against the discounts and benefits you’ll get from your card before you sign up.
AmEx exchange rates
When you spend overseas, the exchange rate used to convert your spending back to dollars is set by American Express. You’ll be able to see the rate that’s used on the AmEx website or app – bear in mind that the rate may be the one on the day your transaction is processed, which can be a day or two after you physically make the purchase.
AmEx exchange rates may include a small markup on the mid-market exchange rate. This is on top of any foreign transaction fee you pay.
Adding a markup to the exchange rate offered to retail customers is extremely common – but it does make it harder to see exactly what you’re paying when you spend in a foreign currency. Some providers, like Wise and Revolut, split out the costs of currency exchange and use the mid-market rate for conversion, according to the account plan you hold. That can be more transparent and easier to see exactly what you’re spending every time.
American Express cards that have no transaction fees
As we’ve seen, AmEx does offer some cards that have no foreign transaction fees, but they often charge other fees. Here’s a roundup of a few cards to look at if you’re planning on getting an AmEx:
| American Express card with no foreign transaction fee | Other fees that might be applied |
|---|---|
|
|
American Express card foreign transaction limits
The limits which apply to your American Express card will be set depending on your credit score. You’ll be able to see the card limit when you’re offered the option to apply – usually after an online credit check has been completed.
How to avoid foreign transaction fees when traveling
You may be able to avoid – or at least cut down – foreign transaction fees when you travel by picking an AmEx card with no foreign transaction fee, or going with an alternative with no foreign transaction fee, like Wise or Revolut.
Here are a few other tips to make life easier, and keep down the costs of international spending:
- Take the time to read your card’s terms and conditions, to confirm the fees for overseas spending and withdrawals
- Opt to pay in the local currency wherever you are to avoid dynamic currency conversion
- Check if you need to confirm to AmEx that you’ll be abroad, to avoid your card being blocked by the anti-fraud measures
- Before making a withdrawal or spending money abroad, ensure that the ATM accepts your American Express card – look for the logo that’s usually displayed prominently
- Make sure to pay your bills promptly to avoid incurring late payment fees from AmEx
If you’re interested, you can check out our other guides from this series:
- Best cards without foreign transaction fees
- Bank of America foreign transaction fees
- Capital One foreign transaction fees
- Chase foreign transaction fees
- Discover foreign transaction fees
- Wells Fargo foreign transaction fees
Conclusion: AmEx international fees
American Express has a broad array of cards available, primarily focused on credit cards. Among them there are plenty of options with no foreign transaction fees – but in this case you’ll often find you pay an annual fee to get the card in the first place. Before you decide on which card will suit your needs it makes sense to weigh up the benefits and costs, including potential extra fees like interest and late payment penalties. Compare these against alternative providers like Wise and Revolut to see which works best.
Wise offers multi-currency accounts with 40+ supported currencies and a debit card you can use in 170+ countries, while Revolut offers 25+ currencies, and has linked cards for convenient spending and withdrawals when you’re away. Consider these options instead of – or as well as – your AmEx card, to cut costs, and to make sure you have an extra method of payment if American Express isn’t available where you’re headed.
FAQs on American Express overseas transaction fees
Does AmEx have foreign transaction fees?
AmEx cards have variable fees, depending on the specific product. Some cards have no foreign transaction fees – but may have higher annual fees – and others have foreign transaction fees of 2.5% to 3% on average.
Can I use my American Express card internationally?
Yes. American Express can be used internationally, although the network isn’t as popular in some regions as it is in the US. It makes sense to carry an alternative payment method – such as a card on a different network from Wise or Revolut – to cut overall fees, and just in case you can’t use your AmEx in a specific merchant or ATM.
Do you have to notify American Express when you travel?
Check your card’s terms and conditions to see if you need to inform AmEx of your plans – and make sure your contact details are all up to date with them should they need to get in touch while you’re away.
Does American Express debit card have foreign transaction fees?
Check your card’s terms and conditions to see if there’s a foreign transaction fee – and if there is, you might want to compare alternative debit cards from providers like Wise and Revolut to see if you can save.
How do I avoid international ATM fees?
Some banks have partner institutions overseas which waive ATM fees, but if yours doesn’t you might want to consider specialist providers like Wise and Revolut which both offer some fee free international ATM services monthly.
How do I know if I have to pay foreign transaction fees?
It’s important to read the terms and conditions of your card to check if there are foreign transaction fees to pay – or you can call the card issuer to ask directly if you’re unsure.
Sources:
- Discover card foreign transaction fees
- Bank of America cards foreign transaction fees
- Wise debit card international fees
