Debit cards with no foreign transaction fees

What is a foreign transaction fee?

Your bank charges a foreign transaction fee whenever a currency conversion is required. If you buy something from a US website with your Australian debit card your bank needs to convert your Australian dollars into US dollars. And it charges you a fee.

The foreign transaction fee is usually around 3-4% of the transaction value. If you made a $300 purchase from an American site, a 3% foreign transaction fee would cost you $9.

This fee gets expensive if you make regular international purchases.

What are the best debit cards with no foreign transaction fees?

The HSBC Everyday Global Account was the winner of the best global debit card in the 2025 Finder Banking Awards, with the Macquarie Transaction Account and Suncorp Everyday Global Account being named as finalists.

Macquarie Transaction Account

The Macquarie Transaction Account and debit card has no account keeping fees, no international ATM fees and pays a refund on any local ATM fees charged. Plus, you can earn a high interest rate of 2% on balances up to $250,000 in your account without needing to meet any conditions. So you can earn interest while you travel!

HSBC Everyday Global Account

The HSBC Everyday Global Account has no account keeping fees, no international transaction fees and access to free ATMs around the world. However what really makes this account a great travel option is that you can hold up to 10 different currencies in the one account.

Suncorp Everyday Options Account

This account has no monthly account keeping fees, no international transaction fees and no overseas ATM withdrawal fee by Suncorp (the ATM operator fees may still apply though). You can also link up to 9 sub accounts to your main account which could help you budget and manage your travel expenses.

Looking for a credit card instead? Check out these credit cards with no foreign transaction fees.

How do debit cards with no foreign transaction fees work?

You usually receive a debit card when you open an everyday bank account. The debit card allows you to access your own money to make everyday purchases in store or online, plus lets you withdraw your own money from an ATM. Some banks offer debit cards with low or even no foreign transaction fees. This means that you can still make purchases using your own money, but you won't be hit with the fee when you make overseas purchases.

How much can I save with a no foreign transaction fee debit card?

The amount you could save depends on how much you're planning to spend overseas. If you go overseas often, you could save hundreds of dollars (or more) per trip. Take a look at the fictional example below of a short overseas holiday.

"I used the HSBC Everyday Global account for my everyday spending. I get 2% cashback for tap & pay purchases under $100 and I can hold CAD for when I go visit my friends and family."

Alanna Glenn

Money Expert

Benefits of using a debit card with no foreign transaction fees

• Save money on international purchases made online. You can avoid paying an extra 2-4% when you shop online from overseas retailers.
• Save money when using your card overseas. You can use your card overseas just as you would at home and won't have to worry about transaction fees on every single purchase.
• Global and easy. You can use your Australian debit card all over the world, in store and online plus at international ATMs.
• No overspending and no interest accruing. Unlike a credit card, a debit card only allows you to access the cash in your transaction account so you can't wrack up a big bill.
• Keeping it simple. You don’t have to load foreign currency on to your card, you don’t have to exchange cheques for cash, and you don’t have to apply for a credit card or seperate travel card.

What fees are normally involved when using a debit card for international purchases?

• Foreign transaction fee. This is usually between 2-3.5% of the transaction value and charged when a currency conversion is required.
• Overseas ATM fees. This can be around $5 or more each withdrawal. Try to use your bank's international ATM partners and withdraw larger sums to reduce your ATM visits.
• Foreign exchange rate margin. Banks make money by adding a margin on top of the real exchange rate when transferring one currency into another. While this cost is not as transparent, if your bank is offering a poor exchange rate you could be losing money when using your debit card overseas.
• International money transfer fee. If you'd like to send money to someone overseas from your regular bank account in Australia, your bank will likely charge you a hefty fee, sometimes over $20. To avoid this, use a dedicated international money transfer service instead.

How do these debit cards compare to travel money cards or credit cards?

Credit cards

• Credit cards can give you access to extra funds outside of your available debit balance, which can come in handy during emergencies.
• There are credit cards available that don't charge foreign transaction fees.

• Overspending can become a problem and you could end up accruing high amounts of interest if you’re unable to pay your balance in full.
• Be aware that using your credit card to withdraw funds from an ATM, or to buy foreign currency or travellers cheques, is considered a cash advance transaction. These transactions attract an additional fee.

Travel money cards

• Load multiple currencies onto a single travel card to avoid currency conversion fees at the time of purchase.
• You can lock exchange rates in place before you travel.

• You may be charged a high fee when loading funds on the card or withdrawing money from ATMs.
• Exhange rates may be less competitive than what your bank offers.

Pros and cons of using a debit card with low foreign transaction fees

Frequently asked questions

• Will I have to pay a foreign transaction fee if I use my debit card to make a purchase through an international website?

  Yes, you would (unless you get a debit card that waives this fee). This is because your bank would convert Australian dollars to the currency the website charges you.

• If I use my card to book an airline ticket through an international carrier’s Australian website would I have to pay foreign transaction fees?

  Yes, it's likely you'd have to pay foreign transaction fees in such a case, even if you’re making a payment in Australian dollars. Because this fee applies in instances when the merchant accepting the payment is overseas.

• Can I get a replacement card if I lose my card when overseas?

  Yes. Both Visa and Mastercard offer overseas debit card replacements.

Karen Eley is the founder of Women Talking Finance, which provides money coaching and financial literacy and education services. An experienced and former financial adviser who has worked in financial services industry for 22 years, Karen is a Certified Money Coach (CMC), holds a Bachelor of Accounting and an Advanced Diploma in Financial Planning and CFP.

To make sure you get accurate and helpful information, this guide has been reviewed by Karen Eley, a member of Finder's Editorial Review Board.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 660 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living