Best travel debit cards to use overseas
These debit cards have low or 0% foreign transaction fees, making them the best choice to use internationally.
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Key takeaways
- Look for a debit card with low or no international transaction fees to use when you're overseas.
- Fee-free international ATM withdrawals can save you money when accessing cash abroad.
- Some debit cards offer extra features such as cashback or the ability to earn interest.
What is a travel debit card?
A travel debit card is a regular debit card with features designed for travel. For example, the card may charge no international transaction fees on overseas purchases or no overseas ATM fees. Or, it may allow you to hold different currencies as well as AUD.
The debit card is attached to a bank account with your own money, and you can only spend what's available in the account. You can use the debit card to make purchases in stores or to withdraw cash from ATMs while you're overseas, just like you would here in Australia.
What's the best debit card to use overseas?
Our expert says
"The good part about the ability to hold multiple currencies is that you can transfer money before you go. So when the Australian dollar is strong against a particular currency, I transfer money into that account, and then when I go, I just spend in local currency. That way, I'm not getting hit with a potentially higher exchange rate, or being forced to spend in AUD and charged for the conversion."
How to find the best travel debit card
No account keeping fees
Look for a debit card with no monthly account keeping fee.
No overseas ATM fees
This is charged by your bank when you use your card at an overseas ATM, and can be as much as $5 (or more) per transaction on top of the fee charged by the ATM operator. It's best to look for a debit card without this fee, if possible.
No international transaction fees
This is charged by your bank when a currency conversion is needed (e.g.: when using your AUD card to make purchases in the UK). This fee can be as high as 4% of the transaction value. Luckily, there are several Australian debit cards that don't charge this fee.
Account accessibility
It's handy to choose a debit card from a bank that has a good mobile banking app, which you can use overseas to keep an eye on your account and transfer money if needed.
Multiple currencies
Some debit cards allow you to hold multiple currencies at once. This is handy for travelling as it allows you to load up on the currency you need ahead of your trip while the exchange rate is good.
Contactless payment options
Being able to link the debit card to Apple Pay or Google Pay could be helpful while you're travelling if you don't want to keep your physical debit card on you.
Additional safety features
Some debit cards will come with a 'card lock' feature in the attached mobile banking app that allows you to temporarily freeze or lock your card if you've misplaced it while travelling.
Is it better to use a debit card or credit card overseas?
Unlike debit cards which only allow access to the money in your account, a travel credit card offers a line of credit for you to spend what you need and then repay at the end of the payment period (usually monthly). This can be helpful to manage cashflow while you're travelling, so you know you'll always have money available.
However, if you don't repay it in full, you'll be charged interest at a fairly high rate. There are also annual fees and other charges for credit cards that debit cards don't have.
Some credit cards allow you to earn points or other rewards as you spend, which could end up allowing you to upgrade your flights from economy or use a special airport lounge. Some credit cards also offer things like complimentary travel insurance, which isn't offered with a debit card.
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How to use a debit card for online payments
Every wondered what the process was for your debit card when you made an electronic transaction?
Which debit card charges no atm fees while in uk..
Hi Maureen,
Thanks for your question.
You might want to check the list of Travel Debit Cards, which might be of assistance to you. You can compare travel debit cards directly on the page. The Citibank Plus Everyday Account featured on this page does not charge ATM withdrawal fees at any Citibank branded ATMs around the world, including the UK.
Hope this helps.
Clarizza