Chase charges foreign transaction fees on most of its credit and debit cards, but the amount and which cards are exempt depends on the specific card you hold
If you use a Chase credit card or debit card outside the United States, Chase will add a foreign transaction fee to most purchases and cash withdrawals. The standard rate is 3% of the transaction amount for credit cards. Debit cards typically charge 1% for purchases and 3% for cash withdrawals at ATMs, though this varies by card type.
Some Chase cards do not charge foreign transaction fees at all. These cards are designed for people who travel frequently or do business internationally. Knowing which cards waive these fees — and which ones don't — can save you hundreds of dollars on a single trip.
Key Takeaways
- Chase's standard foreign transaction fee is 3% on credit cards and 1% to 3% on debit cards, charged as a percentage of each transaction.
- Chase Sapphire Reserve, Chase Sapphire Preferred, and several business travel cards waive foreign transaction fees entirely.
- The fee applies to any purchase made in a foreign currency and to ATM withdrawals outside the United States, even if you're using a U.S. bank's ATM.
- You can check your specific card's fee structure in your cardholder agreement or by calling the number on the back of your card.
How Chase calculates the 3% foreign transaction fee
When you make a purchase or withdrawal outside the United States, Chase converts the foreign currency to U.S. dollars. The 3% fee is calculated on the converted amount and added to your bill. This happens whether you swipe your card at a store, use it online, or withdraw cash from an ATM.
The fee is separate from any currency conversion markup the merchant or ATM operator may charge. You are paying Chase's fee on top of whatever exchange rate they use. On a $100 purchase abroad, you would pay $3 to Chase plus the cost of the currency conversion itself.
Cash withdrawals at foreign ATMs often trigger both the foreign transaction fee and an additional ATM fee. Chase typically charges $3 to $5 per foreign ATM withdrawal on top of the 3% foreign transaction fee. If you withdraw $500 from an ATM in London, you might pay $15 to $20 in fees alone.
Which Chase cards waive foreign transaction fees
Chase Sapphire Reserve and Chase Sapphire Preferred cardholders pay no foreign transaction fees on any purchase or cash withdrawal made outside the United States. Both cards are premium travel rewards cards with annual fees ($550 for Reserve, $95 for Preferred), but the foreign transaction fee waiver alone can justify the cost if you travel internationally or make frequent purchases in foreign currencies.
Chase also waives foreign transaction fees on several business travel cards, including the Chase Ink Business Preferred and Chase Ink Business Unlimited. These cards are available only to business owners and sole proprietors, not to individual consumers.
Most other Chase credit cards — including the Freedom Unlimited, Freedom Flex, and basic cash-back cards — charge the full 3% foreign transaction fee. Chase debit cards almost universally charge foreign transaction fees unless you hold a premium checking account with specific terms.
Foreign transaction fees on Chase debit cards
Chase debit card fees vary by account type. Standard Chase checking accounts charge 1% for foreign purchases and 3% for ATM withdrawals. Some premium checking products, such as Chase Premier Plus Checking, may offer reduced or waived foreign transaction fees, but this depends on your account tier and balance requirements.
The fee structure for debit cards is less transparent than for credit cards because it is tied to your checking account, not just the card itself. You can find your specific debit card's foreign transaction fees in your account agreement or by logging into Chase.com and viewing your account details.
If you travel frequently and use a debit card, the foreign transaction fees can add up quickly. A two-week trip with daily ATM withdrawals and several debit card purchases could easily cost $50 to $100 in fees alone.
How to avoid or minimize foreign transaction fees
The most direct way to avoid foreign transaction fees is to use a Chase card that waives them. If you travel more than once a year, the annual fee on a Sapphire Reserve or Sapphire Preferred card often pays for itself through fee savings and travel rewards.
If you do not want to pay an annual fee, you can minimize fees by using your card strategically. Make fewer, larger purchases instead of many small ones — each transaction triggers the fee once, regardless of amount. Avoid ATM withdrawals when possible and instead use your card at merchants who accept it. When you must withdraw cash, do it less frequently in larger amounts.
Some travelers open a second checking account with a bank that does not charge foreign transaction fees and transfer money before traveling. Banks like Charles Schwab and Ally do not charge foreign transaction fees on debit cards or ATM withdrawals, though you would need to open a separate account.
What counts as a foreign transaction
A foreign transaction is any purchase or withdrawal made in a currency other than U.S. dollars, regardless of where you are physically located. If you are in the United States but buy something from a foreign website in euros, Chase charges the foreign transaction fee. If you are in Canada but use your card at a U.S. merchant, no fee applies.
Online purchases from foreign merchants also trigger the fee. Buying from a retailer based in the United Kingdom, even if you are sitting at home in New York, will result in a foreign transaction fee because the transaction is processed in a foreign currency.
Some merchants in tourist areas offer to charge your card in U.S. dollars instead of the local currency. This is called dynamic currency conversion. Declining this offer and allowing the merchant to charge in the local currency usually results in a better exchange rate, even after Chase's 3% fee.
Frequently Asked Questions
Does Chase charge foreign transaction fees on all purchases outside the U.S.?
Chase charges foreign transaction fees on most of its cards when you make a purchase in a foreign currency, but not on cards like Sapphire Reserve and Sapphire Preferred. The fee applies whether you are traveling or shopping online from a foreign merchant. Check your specific card's terms to confirm.
Can I dispute a foreign transaction fee if I think it was charged incorrectly?
You can contact Chase to dispute a fee if you believe it was applied in error — for example, if you used a card that should have waived the fee. Call the number on the back of your card or log into your account online. Chase will review the transaction and may reverse the fee if it was charged by mistake.
Do I pay the foreign transaction fee if I use a Chase ATM abroad?
Yes. Even though you are using a Chase ATM, if it is located outside the United States, Chase charges the 3% foreign transaction fee on the withdrawal. You may also be charged an additional ATM fee. Using a non-Chase ATM abroad typically results in higher total fees.
What is the difference between a foreign transaction fee and currency conversion?
The foreign transaction fee is a flat percentage Chase charges on top of the transaction. Currency conversion is the exchange rate Chase uses to convert foreign currency to dollars. Both costs are added to your bill, and both explore to foreign purchases.
If I travel to Canada, do I pay Chase's foreign transaction fee?
Yes, if you make purchases in Canadian dollars, Chase charges the foreign transaction fee because the transaction is in a foreign currency. The fee applies to any non-U.S. currency transaction, regardless of which country you are in.