Things I hate: Searching for a no-fee ATM, cash-only establishments, and foreign exchange fees. Things I love: Finding a bank that eliminates all of those things.
If you’re paying ATM charges or penalties for using your debit or credit card while traveling, stop that right now. There are plenty of banks out there that now offer no monthly fees, no foreign transaction penalties, and will even refund any ATM fees you might incur from other banks.
This means you can use any ATM you like while traveling abroad and never waste time trying to find one that won’t wallop you with fees. You can take out money in small increments, since you won’t have to worry about paying a surcharge each time (which means you won’t be trying to blow all your leftover cash on airport souvenirs at the end of your trip).
For my credit card, I carry VentureOne from CapitalOne, which doesn’t charge foreign transaction fees for purchases made outside the United States. There’s no monthly fee for the VentureOne, either, and it includes complimentary auto rental insurance, 24-hour travel assistance services, and travel accident insurance.
If you’re thinking this sounds like an ad for CSB and CapitalOne, it’s not. I am not being compensated in any way for this story—I just love not paying fees! (However, CapitalOne, if you’re reading this and want to knock a few hundred dollars off of my bill this month, feel free!)
To find a bank that refunds ATM fees,Internet-based companies that don’t have many (or any) physical branches are a good place to start looking. Charles Schwab Bank, Capital One 360, Fidelity, and First Republic Bank are all solid options.