What are the differences in foreign transaction fees between US banks?

Foreign transaction fees are fees charged by banks or credit card companies for purchases made in a foreign currency. These fees can add up quickly, especially if you travel frequently or make a lot of purchases from foreign retailers.

Many banks and credit card companies charge foreign transaction fees, but the exact amount and how they calculate the fees can vary greatly. Some banks charge a flat fee per transaction, while others charge a percentage of the total purchase amount. Some banks may also charge additional fees for using an out-of-network ATM or making a cash advance.

If you are looking for a bank or credit card with low foreign transaction fees, it's important to do your research. Some banks, such as Capital One and Discover, do not charge foreign transaction fees on any of their credit cards. Other banks, such as Chase and Bank of America, may charge fees on some cards but not others.

When comparing foreign transaction fees, it's also important to consider other factors such as annual fees, interest rates, and rewards programs. You may find that a card with a higher foreign transaction fee still offers more value overall because of its rewards program or other benefits.