Best Banks for International Travelers: A Guide to Managing Money Abroad

Traveling internationally is exciting, but managing your money while abroad can be tricky if you don’t have the right bank backing you up. From high foreign transaction fees to limited ATM access, dealing with these challenges can quickly make your dream vacation feel more like a financial nightmare.

In this article, we’ll walk you through some of the best banks for international travelers—banks that offer perks like no foreign transaction fees, extensive ATM networks, and seamless online banking. Whether you’re traveling for business or pleasure, finding the right bank can make managing your finances on the go much easier.

What Makes a Bank Good for International Travelers?

Before we dive into the best options, let’s take a quick look at what makes a bank traveler-friendly. Here are some key features to look for:

No Foreign Transaction Fees: Many banks charge fees (usually around 3%) for purchases made in foreign currencies. A bank that waives these fees can save you a significant amount of money on international purchases.
Global ATM Access: Look for a bank that provides easy access to ATMs around the world, ideally with minimal withdrawal fees. This will allow you to get cash when you need it without breaking the bank.
24/7 Customer Support: You never know when you might run into an issue with your account abroad. Whether it’s a lost card or a blocked transaction, having access to customer support at any time of day (or night) is crucial.
International Partnerships: Some banks have partnerships with other financial institutions in various countries, meaning you can avoid extra fees when withdrawing money or transferring funds internationally.
Online and Mobile Banking: Being able to check your balance, transfer money, or freeze your card via a mobile app can save you a lot of hassle while on the move.

Best Banks for International Travelers

Now, let’s dive into some of the best banks for international travelers. These banks provide great benefits for those who travel frequently and want to manage their money abroad with ease.

1. Charles Schwab Bank

Charles Schwab’s High Yield Investor Checking account is a top choice for international travelers. Here’s why:

No Foreign Transaction Fees: Schwab waives foreign transaction fees on all purchases made abroad, which can save you hundreds of dollars per trip.
Fee-Free ATM Withdrawals Worldwide: Schwab offers unlimited fee-free ATM withdrawals worldwide, even if the ATM charges a fee. They reimburse any fees charged by other ATM operators.
24/7 Customer Service: Whether you’re on the streets of Paris or at a café in Tokyo, Schwab provides customer support around the clock.

Schwab’s no-foreign-transaction-fee advantage is especially valuable for frequent travelers. Combine that with their ATM fee reimbursements, and it’s easy to see why Schwab is one of the best banks for international travelers.

2. Capital One 360

Capital One 360 is another excellent option for international travelers. Here’s what you get with a Capital One 360 Checking account:

No Foreign Transaction Fees: Capital One waives foreign transaction fees, making it a solid choice for those who travel abroad.
Wide ATM Network: Capital One offers over 39,000 ATMs nationwide. For international travelers, they partner with the Allpoint network, which allows you to withdraw money at a reasonable cost in many countries.
Mobile Banking: Capital One’s user-friendly mobile app lets you check your balance, transfer money, and even lock your card if it’s lost or stolen.

With a solid ATM network, no foreign transaction fees, and excellent mobile banking features, Capital One 360 is a great option for travelers who value convenience and accessibility.

3. HSBC Expat Account

If you’re planning to live or work abroad for an extended period, HSBC’s Expat account could be a great choice. Here’s why:

Global Banking Network: HSBC is one of the largest global banking networks. It’s present in over 60 countries, which makes it an ideal bank for people who need international access.
Foreign Currency Account: HSBC offers the ability to hold and manage multiple currencies, which is useful if you travel frequently or live in different countries.
Worldwide ATM Access: As an HSBC customer, you can access ATMs across the globe with minimal fees.

HSBC’s strong international presence and their multi-currency accounts make them a great choice for people who need to manage finances across different countries.

4. Chase Sapphire Banking

Chase Sapphire Banking is another great option for international travelers, especially if you’re looking for a premium banking experience. Key benefits include:

No Foreign Transaction Fees: Like the other banks on this list, Chase Sapphire Banking doesn’t charge foreign transaction fees, which helps you save money on every purchase abroad.
Free ATM Withdrawals: Chase offers free ATM withdrawals at more than 29,000 ATMs in the U.S. and has fee waivers for international ATM withdrawals if you hold the Sapphire Banking account.
Travel Perks: For travelers, Chase Sapphire Banking comes with additional benefits like access to travel concierge services and bonus rewards points when used with a Chase Sapphire card.

Chase Sapphire Banking is perfect for travelers who are looking for a more premium experience, complete with travel benefits and a robust online platform.

5. Fidelity Cash Management Account

If you don’t want to deal with monthly fees or balance requirements, Fidelity’s Cash Management Account is a fantastic option. Here’s why:

No Foreign Transaction Fees: You won’t pay foreign transaction fees when making purchases abroad with your Fidelity card.
Global ATM Access: Fidelity offers free ATM withdrawals worldwide, and they reimburse fees charged by other banks for ATM usage.
No Minimum Balance or Monthly Fees: Unlike many other banks, Fidelity doesn’t require a minimum balance to avoid fees, making it more accessible for those who want to avoid monthly account charges.

The Fidelity Cash Management Account is an excellent option for budget-conscious travelers looking for flexibility without hidden fees.

How to Choose the Best Bank for You

With so many options out there, how do you choose the best bank for your international travel needs? Here are a few things to consider:

Travel Frequency: If you travel abroad often, look for a bank that offers no foreign transaction fees and easy access to ATMs worldwide.
ATM Needs: Consider how often you’ll need to withdraw cash while abroad. If you plan to use ATMs frequently, choose a bank that offers fee-free withdrawals in the countries you visit most often.
Customer Service: Traveling internationally means time zones and different schedules. Make sure the bank you choose offers 24/7 customer support, especially if you run into any issues with your account.
Additional Travel Perks: If you want additional perks like travel insurance, concierge services, or bonus rewards points, choose a premium account like Chase Sapphire Banking.

Conclusion: Choose the Bank That Works for You

The best bank for international travel will depend on your specific needs. Whether you’re looking for global ATM access, zero foreign transaction fees, or just a bank with an easy-to-use mobile app, there are plenty of options that cater to travelers. Charles Schwab and Capital One 360 are both fantastic for those who need hassle-free, everyday banking while traveling abroad. If you’re looking for premium travel benefits, Chase Sapphire Banking or HSBC Expat might be the way to go.

Ultimately, the key is to choose a bank that makes your international banking experience as easy and cost-effective as possible. Safe travels!