Foreign transaction fees can really add up if you travel frequently or shop online at non-Canadian stores. You\u2019ll have a hard time finding debit cards with no foreign transaction fees in Canada, but the good news is that prepaid cards \u2014 which work like debit or credit cards \u2014 often come with low or no foreign transaction fees.<\/p>
While most of the biggest banks in Canada<\/a> don\u2019t offer standard debit cards with no foreign transaction fee, there are select prepaid cards that function like debit cards and don\u2019t have foreign transaction fees. These cards can be offered by online banks in Canada<\/a>, like EQ Bank, or from companies who specialize in international money transfers, like Wise.<\/p> Prepaid card lets you make purchases and manage your money similarly to how you use debit and credit cards. However, unlike many debit and credit cards in Canada, prepaid cards often come with low or no foreign transaction fees. These cards allow you to spend using funds that have been loaded onto your card, so you can only spend what you have.<\/p>Get a prepaid card with no foreign transaction fees<\/h3>