Expert analysis: Finding the best fee-free options for foreign transactions
Paying fees when you make foreign transactions with your debit card needn't be a fact of life. There's a good selection of cards that lets you save money on these. The Chase current account charges no fees for both overseas cash withdrawals as well as overseas card transactions, as does Starling Bank.
There's also the Monese pre-paid multi-currency card, which has no foreign transaction fees on its Classic and Premium plans up to set limits for cash withdrawals. You'll pay a monthly fee for these though.
App-based bank Revolut gives you fee-free foreign card transactions and cash withdrawals on weekdays up to a total of £1,000 a month on its free Standard plan. You can withdraw £200 a month from cash machines before you start paying fees. The big banks generally charge relatively high fees on at least their free accounts.
Alternatively, you can use credit cards that charge no foreign transaction fees to make overseas purchases. These include Santander's All in One credit card and cards from the Royal Bank of Scotland and NatWest. It's not generally a good idea to use a credit card to withdraw cash as you'll usually pay a fee for this and there's no interest-free period as with purchases. It can also affect your credit score. However, there are some that let you withdraw cash abroad cheaply.
