![]() In some cases, your foreign transaction fee rate may also be listed under the card details section on your account home page. If you don't have your physical copy, you can typically download it from your online credit card account. You were sent a copy of your card's rates and fees when the card was mailed to you. (This may also be called the Pricing and Terms document.) This is where all of your card's interest rates and other fees will be listed. If your credit card charges a foreign transaction fee, it must list that fee in your credit card's Rates and Fees document. Where are credit card foreign transaction fees listed? This includes several no annual fee options. This means you won't need to worry about FX fees no matter which card you have from either of these issuers. Of all the major credit card issuers, two don't charge foreign transaction fees on any of their cards: Capital One and Discover. Most, but not all, issuers charge the same rate for FX fees across all of their cards, and those are typically 0%, 2.7%, or 3% In general, however, the majority of cards will have some sort of FX fee. In fact, the best travel rewards credit cards have no foreign transaction fees at all. The rate you're charged for a foreign transaction fee is set by the credit card issuer. And any involvement from a foreign bank could mean foreign transaction fees. But if Etsy's Canadian processing system is still involved, then a Canadian bank will be involved. You could buy from a U.S.-based seller, make the purchase in USD, and have it shipped to your U.S. What's more, it doesn't matter which seller you use. That means a Canadian bank will be involved in the transaction. Purchases you make will be processed by Etsy in Canada. Either way, you can be charged a foriegn transaction fee.įor example, say you're shopping at Etsy.ca, the Canadian division of Etsy. Even if you're charged in USD, the transaction will likely still go through a foreign bank. In other words, if you make an online purchase with a foreign merchant, that purchase may be in a foreign currency. But as far as your credit card issuer is concerned, those purchases were still made abroad. ![]() ![]() The world wide web has made it so that we can shop from stores around the world without ever leaving our homes. Many people assume foreign transaction fees only occur when you're traveling internationally. Can you be charged a foreign transaction fee when shopping online? You'll often get a much better conversion rate by letting your credit card network convert the currency for you.īasically, no matter how you slice it, if you make a purchase with your credit card while abroad, you could be on the hook for FX fees. The conversion rate on a DCC transaction is usually much worse than the standard conversion rate. Merchants tend to use what's known as dynamic currency conversion (DCC).As such, you can still be charged a foreign transaction fee. The charge will still go through the merchant's bank, which will count as a foreign bank transaction. It won't stop you from being charged an FX fee.In some cases, merchants may offer to convert the purchase into USD for you right there in the shop. If your card charges FX fees, each of those purchases will be charged a fee. Most of your purchases will be charged to your card in pounds, then converted to USD before it hits your credit card account. Make a purchase in USD that routes through a foreign bankįor example, say you go to the U.K.With that in mind, you could be charged a foreign transaction fee any time you: Any other currency is considered a foreign currency. bank, all of your dealings with that bank will be in USD.
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