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3 ways to shop online and avoid foreign currency conversion fees

Using a credit or debit card with no foreign transaction fees or using the local currency via a travel money card are the easiest ways to avoid these fees when shopping overseas online.

Key takeaways

  • Foreign transaction fees with a credit card can be as high as 3–3.5% of the purchase price.
  • You can avoid this cost by using a card with a 0% foreign transaction fee.
  • Another option is to get a travel card that lets you add a local currency.

3 ways to shop overseas online and pay no foreign transaction fees

If you buy something online from an overseas store with your credit card, you could get hit with a foreign transaction or currency conversion fee.

But there are ways to avoid this.

1. Use a credit card with no foreign transaction fees

According to Finder's database, the average Australian credit card with a foreign currency transaction fee charges around 3%. Some go as high as 3.65%.

But there is a small number of credit cards that charge no foreign transaction fee.

Using one of these cards can save you a hefty fee. On a $600 item a 3% fee is $18.

This type of card is specially handy if you regularly shop with international sellers.

2. Use a debit card with no foreign transaction fees

Some Australian debit cards also waive foreign transaction fees. Some will require you to meet deposit and spend requirements to activate the foreign transaction fee rebate.

You may be able to find cards that don't charge any account-keeping or international ATM withdrawal fees as well.

Finder's best travel debit cards

HSBC's Everyday Global Account won the 2024 Finder Award for Best Travel Debit Card. It lets you add up to 10 currencies for local shopping and there's no international transaction fee.

Macquarie Bank's Transaction Account finished second in the same category. The linked debit Mastercard also has no international transaction fee.

3. Use a travel card

Travel cards are designed to be used when you're overseas but you can also use one when you shop online.

Once you take out a prepaid travel card you can load it up with money in a foreign currency via bank transfer.

These cards usually offer around 10 supported foreign currencies. These cards don't charge transaction fees but sometimes charge loading fees or a one-off activation fee.

2 popular travel cards are Wise and Revolut. They can ben cheaper than using a credit card and have better exchange rates.

Don't forget about exchange rates

If you're buying something in a foreign currency via an Australia card or bank then you should also consider the exchange rate. Banks often charge their own rates, while some cards use exchange rates set by Visa or Mastercard.

Some of the most competitive travel money cards charge mid-market exchange rates when converting your Australian dollars to other currencies too. This is cheaper than what banks tend to offer.

Compare credit cards with no foreign transaction fees

1 - 10 of 23
Name Finder Score Foreign currency conversion fee Interest-free period Purchase rate p.a. Annual fee
Bankwest Breeze Platinum Mastercard
Bankwest Breeze Platinum Mastercard image
Finder score
9.9
Foreign currency conversion fee
0%
Up to 55 days on purchases
Purchase rate p.a.
12.99%
Annual fee
$59
Go to siteMore Info
Get 0% p.a. interest on balance transfers for 24 months (with a 3% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.
Latitude 28° Global Platinum Mastercard - Rewards Offer
Latitude 28° Global Platinum Mastercard - Rewards Offer image
Latitude Rewards
Finder score
8.4
Foreign currency conversion fee
0%
Up to 55 days on purchases
Purchase rate p.a.
27.99%
Annual fee
$96
Go to siteMore Info
Get $200 bonus Latitude Rewards when you spend $2,000 or more on eligible transactions every statement period in the first 3 months from approval. Offer ends 31 December 2024.
Westpac Lite Card
Westpac Lite Card image
Finder score
8.7
Foreign currency conversion fee
0%
Up to 45 days on purchases
Purchase rate p.a.
9.9%
Annual fee
$108
Go to siteMore Info
Save with 0% foreign transaction fees, a low interest rate on purchases and cashback offers through Westpac Extras.
NAB Rewards Signature Card
NAB Rewards Signature Card image
NAB Rewards
Finder score
9.2
Foreign currency conversion fee
0%
Up to 44 days on purchases
Purchase rate p.a.
20.99%
Annual fee
$288
More Info
CommBank Neo Card
CommBank Neo Card image
Finder score
9
Foreign currency conversion fee
0%
Purchase rate p.a.
0%
Annual fee
$0
More Info
Borrow up to $3,000 with no interest charges - just a monthly fee that depends on your credit limit. Plus, 0% foreign transaction fees.
humm90 Platinum Mastercard
humm90 Platinum Mastercard image
Finder score
8.9
Foreign currency conversion fee
0%
Up to 110 days on purchases
Purchase rate p.a.
26.3%
Annual fee
$119.40
More Info
Offers up to 110 days interest-free on purchases, 0% foreign transaction fees and flexible instalment plan options.
ING Orange One Low Rate
ING Orange One Low Rate image
Finder score
8.7
Foreign currency conversion fee
3%
Up to 45 days on purchases
Purchase rate p.a.
12.99%
Annual fee
$0
More Info
$0 annual fee and 100% foreign transaction fee rebates for customers with an Orange Everyday account who meet the minimum deposit and spend requirements.
Bankwest Zero Platinum Mastercard
Bankwest Zero Platinum Mastercard image
Finder Award
Finder score
9.1
Foreign currency conversion fee
0%
Up to 55 days on purchases
Purchase rate p.a.
0% for 6 months, then 18.99%
Annual fee
$0
More Info
Get 0% p.a. on purchases and balance transfers for 6 months (with a 3% BT fee) and 0% foreign transaction fees.
HSBC Low Rate Credit Card
HSBC Low Rate Credit Card image
Finder score
8.7
Foreign currency conversion fee
0%
Up to 55 days on purchases
Purchase rate p.a.
12.99%
Annual fee
$99
More Info
0% p.a. on balance transfers for 12 months. Plus, no overseas transaction fees and complimentary domestic travel insurance.
Bendigo Bank Ready Credit Card
Bendigo Bank Ready Credit Card image
Finder score
9.8
Foreign currency conversion fee
0%
Up to 55 days on purchases
Purchase rate p.a.
19.99%
Annual fee
$0
More Info
Save with an ongoing $0 annual fee and no foreign transaction fees.
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Showing 10 of 23 results
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Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

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