Spending money is an inevitable part of traveling to a different country. Meals, lodging, and activities can quickly add up. Most vendors in the developed world accept major credit cards. So, it’s in your best interest to get one of the many cards with no foreign transaction fees. My favorite is the Chase Sapphire Reserve.
In fact, Wallet Hub found that using a no foreign transaction fee card can save travelers up to 9.3%. If you’re spending thousands of dollars while you’re on vacation, this is not an insignificant sum. When you need to pay in cash, however, there aren’t too many economical options. Getting ripped off at a currency exchange booth is a huge bummer, yet a necessary evil for many travelers.
However, if you plan ahead and get the Fidelity Cash Management Debit Card, you’ll be able to access over one million ATMs worldwide. When you withdraw cash you’ll automatically be reimbursed for any transaction fees!
If you know you’ll be traveling internationally in the near future, this card is pretty much a no brainer. It costs nothing to open the account and you won’t have to lose money to exchange fees. Make sure you give yourself ample time for the money to deposit into your account before you travel. I made the mistake of waiting last minute before my last international trip to transfer money, and I had to pay an ATM fee while it was in the process of clearing.
Once everything was sorted out, I saved a bunch of money on fees. Consider adding this card to your travel arsenal, there’s little downside.