Capital One Foreign Transaction Fees
Capital One has a broad selection of accounts and cards, including credit cards, checking accounts and savings products. There’s no Capital One foreign transaction fee for Capital One credit cards, and no foreign transaction fee for 360 account products – other account types may have foreign transaction fees to pay, which we’ll cover later.
Even if your Capital One card has no foreign transaction fee, it’s not necessarily free to spend in a foreign currency, thanks to other fees and possible extra costs rolled into the exchange rates offered. This guide covers all you need to know – plus we’ll introduce Wise and Revolut as specialist alternatives for multi-currency accounts and global cards with low transaction fees and great exchange rates.
- Does Capital One work internationally?
- Does Capital One charge international transaction fees?
- Capital One card alternatives
- Capital One cards that have no transaction fees
- International ATM fees
- Capital One exchange rates
- Card foreign transaction limits
Does Capital One work internationally?
All Capital One credit and debit cards can be used internationally. You’ll just need to look out for the logo of your card’s network – usually Visa or Mastercard – to check if the merchant or ATM can take your card.
Some Capital One debit cards have foreign transaction fees which are worth knowing about. And even if your Capital one credit or debit card doesn’t have a foreign transaction fee, using your card might not be the cheapest option due to other charges including fees and interest if you’re using a credit card. More on these potential fees shortly, plus some tips on how to minimize or avoid them while traveling.
How does Capital One compare on international fees?
Here’s a handy overview of Capital One against a couple of alternative providers – Wise and Revolut, and a 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 |
|---|---|---|---|---|
| Capital One | Network exchange rate | No foreign transaction fee for credit cards or 360 products Other debit cards may have international fees to pay | Debit cards with international fees: 2 USD + 3% of the amount withdrawn Typically a 3 USD or 3% cash advance fee applies for credit cards (whichever is higher) | Debit cards may be attached to checking account with monthly fees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% | 2 free withdrawals to 100 USD/month free, then 1.5 USD + 2% | 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-fee withdrawals to plan limit, 2% after that | 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 |
While the percentage may seem small, it can quickly add up when applied to every dollar you spend during your travels. We’ll cover more on this and the providers we’ve picked out here, in a few moments.
Does Capital One charge international transaction fees?
There’s no Capital One foreign transaction fee when you spend overseas with your Capital One credit card, or with a debit card attached to a 360 account product. Other account types may incur some international fees – and there may also be other ongoing costs to consider when you pick the card you prefer.
To help you figure out which may be best for you, here are the key international and ongoing costs for 3 popular Capital One cards:
| Capital One Card | Foreign transaction fees and exchange rates | Maintenance fees and interest | Other features |
|---|---|---|---|
| Capital One QuickSilver Cash Rewards | No foreign transaction fee Exchange rate set by the card network | 19.74% to 29.74% interest based on credit score No annual fee | 1.5% cashback on all eligible spending |
| Capital One 360 Checking | No foreign transaction fee Exchange rate set by the card network | No maintenance fees | Interest earning |
| Capital One Essential checking | 3% foreign transaction fee when using an overseas ATM Exchange rate set by the card network | 8.95 USD monthly fee | No rewards, no interest |
Capital One doesn’t have any foreign transaction fee if you have a credit card or a 360 branded account. That’s handy for overseas spending – as typical foreign transaction fees can be in the region of 3% on every dollar you spend. If you have a different Capital One checking account, like the Essential Checking account, you’ll pay this 3% fee when you make an ATM withdrawal, plus a monthly fee, which can mean it’s not the most economical account out there.
It’s worth comparing the overall costs of your account with Capital One against multi-currency account options from services like Wise or Revolut. You’ll be able to open a convenient multi-currency account right from your phone, to convert from dollars to the currency you need with the mid-market rate, for international spending without foreign transaction fees, using your linked debit card.
Capital One card alternatives
Some Capital One cards have good terms for overseas spending. But they’re not the only options out there, so it’s worth comparing some Capital One card alternatives before you travel, to see if you can save.
Here are a few Capital One card alternatives to consider:
| Wise | Revolut | AmEx | 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 | Varied by card type | Annual fees may apply depending on the card you select |
| Currencies supported | 50+ 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 | Varied by card type – some cards have no foreign transaction fees, others have fees of around 2.5% – 3% | 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% | Free 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 |
There’s no single best card option for overseas spending. It’ll come down to your personal preference and how you like to manage your money. Some Capital One card products have no foreign transaction fees, which can cut costs – but you’ll also need to watch out for other costs like cash advance charges if you’ve got a credit card product.
Compare Capital One’s cards against a few of these Capital One alternatives to pick out the one that suits you best – we’ll look at them one by one in a bit more detail next.
Wise
Best for: Holding 50+ 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
You can open a Wise account online or in the Wise app, to securely hold over 50 currencies, conveniently send payments to more than 70 countries, and use your linked Wise card in over 170 countries.
Additionally, each month you get some fee-free cash withdrawals, and low fees when using an ATM after your free transactions are exhausted. Need to receive money from overseas? You can also get paid from 30+ countries easily – and often for free – using your own local bank details in 10 currencies.
Revolut
Best for: Different account plan tiers, 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
Revolut offers the flexibility to choose between a free account or to trade up to a paid account with extra features and advantages. All accounts include a certain amount of monthly currency exchange using the mid-market exchange rate, and some fee free ATM withdrawals. Once you reach your account limits for currency conversion, a fair usage charge of 0.5% will apply – and there’s a fee of 2% once you’ve used all your free ATM withdrawals for the month, too.
American Express
Best for: Broad selection of card options including no foreign transaction fee credit cards, and cards to earn rewards and cash back
Foreign Fees & Exchange Rates: Cash advance fees of around 5% usually apply to use an ATM, exchange rates are set by AmEx
Is it safe to use internationally? Yes. AmEx is a reputable and popular service, although the network isn’t as popular in some regions as others, so it’s worth checking your destination ahead of time
American Express is a hugely popular network with a broad range of credit cards offered under its own name, and in partnership with banks and organizations. Some popular AmEx cards are optimized for travel and have no foreign transaction fee to pay, plus opportunities to earn rewards and cash back, lounge access and free insurance. As with all credit cards, you’ll still have to pay interest charges if you don’t settle your bill in full every period.
Bank of America
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 offers a selection of credit cards, as well as checking accounts which come with their own linked debit cards. All debit cards have a 3% foreign transaction fee, but there are some credit cards which waive this charge. If you’re choosing a BoA credit card, check out the annual fee to make sure the discounts and benefits you’ll get from your card make it worth paying the charge in the first place.
Capital One cards that have no transaction fees
Here’s a roundup of Capital One cards that have no foreign transaction fees, and some other fees you’ll need to watch out for:
| Capital One card with no foreign transaction fee | Other fees that might be applied |
|---|---|
Debit cards:
Credit cards:
| For debit cards and checking accounts:
For credit cards:
|
Capital One international ATM fees
Capital One has varied ATM fees overseas, depending on the card type.
Here’s a comparison of the cards featured above, and the fees you’ll pay when using an ATM:
| Capital One card type | Capital One international ATM fee | Foreign transaction fee | ATM operator fee |
|---|---|---|---|
| Capital One QuickSilver Cash Rewards | 3 USD or 3% cash advance fee (whichever is higher) 29.74% APR for cash advances | No fee | Varies by country and operator |
| Capital One 360 Checking | No fee
| No fee | Varies by country and operator |
| Capital One Essential checking | 2 USD | 3% | Varies by country and operator |
Here’s a quick reminder of the alternative providers we looked at earlier, compared to the Capital One 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 debit card: Free withdrawals to plan limit, 2% after that
Capital One exchange rates
Capital One uses the network exchange rate to convert your foreign currency spending back to USD, either to deduct the amount from your checking account, or to create your credit card bill.
The rate used may be the network exchange rate on the day your purchase is processed, which can be a day or two after you physically tap or insert your card.
Network exchange rates are usually pretty fair, but they may include a small markup on the mid-market exchange rate which can make it harder to calculate what you’re paying in USD when you’re away
Some providers, like Wise and Revolut, split out the costs of currency exchange to be more transparent and make it easier to see exactly what you’re spending every time.
Capital One card foreign transaction limits
If you have a Capital One credit card your credit limit will be shown in your card offer, and is usually calculated according to your credit score. If you’re spending with a checking account you may find other transaction limits apply, including on the amount you can withdraw from an ATM – these limits are set out in your account terms and conditions, and can often be adjusted by logging into your online banking service.
How to avoid foreign transaction fees when traveling
Ready to jet off on vacation? Here are a few final 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
- Consider a multi-currency account and no foreign transaction fee card from a provider like Wise or Revolut, to use when getting cash and spending supported currencies overseas.
- Keep an eye on your checking account balance to avoid running up an overdraft – and clear your credit card bills as soon as you can to cut interest costs
Conclusion: Capital One foreign transaction fees
Capital One has no foreign transaction fee credit cards as a standard, and also offers some checking accounts with linked debit cards that don’t have a foreign transaction fee to pay. If you have a no foreign transaction fee card from Capital One, you may find spending overseas is cheaper compared to using a card which adds currency conversion costs – but it’s not necessarily fee free to use your Capital One card overseas. You may pay cash advance fees at an ATM, for example, or interest on your spending.
Compare Capital One against options like Wise and Revolut. You’ll be able to set and manage your travel budget in advance easily with multi-currency accounts and cards with dozens of supported currencies. Just top up in dollars and switch to the currency you need, to spend with no foreign transaction fee and no worry about interest or cash advance costs.
FAQs on Capital One international fees
Can I use my Capital One card internationally?
Yes. Capital One cards can be used internationally, with no need to tell Capital One about your travel plans in advance. Just look out for the logo of the network your card is issued on – Visa or Mastercard for example – to start spending.
How do I notify Capital One when I’m traveling?
You do not need to inform Capital One of your travel in advance. However, it’s sensible to check your contact details are all up to date with them should they need to get in touch while you’re away. It’s also a smart idea to check you’ve got the contact details for Capital One to hand before you leave home, just in case.
Is Capital One international?
You can spend with a Capital One credit or debit card more or less anywhere in the world – just look out for the logo of your card network.
How do I avoid foreign transaction fees of Capital One?
Capital One has credit cards and some checking accounts (the 360 account range) with no foreign transaction fees. You could also consider an account from an alternative like Wise or Revolut, which lets you hold, exchange, send and spend dozens of currencies conveniently.
Does Capital One have foreign transaction fees?
There are no foreign transaction fees for Capital One credit cards and for checking or saving accounts in the 360 product range. Foreign transaction fees do apply on some other accounts from Capital One, so look at the terms of your account carefully before you spend.
Can I use my Capital One card internationally without fees?
You can use your Capital One credit card with no foreign transaction fee, but other costs like interest and cash advance fees may still apply. To avoid these costs you might want to consider a multi-currency account and debit card from a provider like Wise or Revolut.
