Category: Debit Card

If you travel internationally or shop online from foreign stores, you’ve probably noticed that your debit card transactions don’t always match up exactly to the exchange rate you saw on Google. That’s because banks and payment processors add currency exchange fees to your transactions. These fees can sneak up on you and make things cost more than you expected. But don’t worry—once you understand how these fees work, you can take steps to minimize them.

What Are Currency Exchange Fees?

Currency exchange fees are extra charges added to transactions when your debit card is used to make a purchase or withdraw money in a different currency. These fees cover the cost of converting your money from one currency to another. The fees are typically made up of two parts:

1. Bank or Card Issuer Fee – Your bank may charge a percentage (usually between 1% and 3%) for handling the currency conversion.
2. Network Fee – Payment networks like Visa or Mastercard often apply an additional fee on top of what your bank charges, usually around 1%.

Together, these fees can add up quickly, especially if you’re traveling abroad or making frequent international purchases.

How Do These Fees Work?

Let’s say you’re on vacation in France and buy a meal for 50 euros. When you check your bank statement, you might see a higher amount in dollars than what the exchange rate suggested. If the exchange rate is 1 euro = 1.10 USD, you might expect to pay $55. But after fees, you could end up paying around $57 or more, depending on your bank’s policies.

The same thing happens when you shop online from international retailers. If you buy something from a UK-based website priced at 100 pounds, your bank might charge an extra 3% conversion fee on top of the standard exchange rate, making your final cost higher.

Where Are You Most Likely to Pay Currency Exchange Fees?

Currency exchange fees can pop up in different situations, including:

• International travel: When you pay with your debit card at restaurants, hotels, or stores in another country.
• ATM withdrawals: Withdrawing cash in a foreign country almost always includes conversion fees, and sometimes additional ATM fees.
• Online shopping: If you buy something from a retailer based in another country, your bank may charge a fee for converting the currency.

How to Reduce or Avoid Currency Exchange Fees

Nobody wants to pay extra fees, so here are some practical ways to reduce or avoid them:

1. Use a Debit Card with No Foreign Transaction Fees – Some banks and fintech companies offer debit cards that don’t charge foreign transaction fees. Look for cards from providers like Charles Schwab, Capital One, or Revolut.
2. Withdraw Cash in Bulk – If you must use an ATM while traveling, try to withdraw a larger amount at once to avoid multiple conversion fees.
3. Choose the Local Currency – When paying with your debit card abroad, you may be given a choice to pay in your home currency or the local currency. Always choose the local currency to avoid dynamic currency conversion (DCC) fees, which are usually more expensive.
4. Use a Credit Card Instead – Many travel credit cards offer no foreign transaction fees and provide better exchange rates than debit cards.
5. Consider Using a Currency Exchange Service – If you need cash, exchanging money at a reputable exchange service before your trip can sometimes be cheaper than using a debit card.

The Hidden Costs of Currency Exchange Fees

Even small fees add up over time. If you travel frequently or shop internationally often, you might be losing hundreds of dollars a year without realizing it. For example, if you spend $2,000 on international purchases in a year and your bank charges a 3% fee, that’s an extra $60 lost to fees.

Some banks also charge hidden fees, like:

• Flat fees per transaction – Some banks charge a set fee per foreign purchase instead of (or in addition to) a percentage-based fee.
• ATM withdrawal fees – Even if your bank doesn’t charge a currency conversion fee, they may still charge for foreign ATM usage.

Understanding Exchange Rates and Markups

The exchange rate you see online (like on Google or XE.com) is called the mid-market rate, which is the real exchange rate without any extra charges. However, banks and payment networks often mark up this rate to make a profit. This means you might be charged a slightly worse rate than the one you see online.

For example, if the mid-market rate is 1 EUR = 1.10 USD, your bank might offer you 1 EUR = 1.08 USD instead, making your purchase cost more. This markup is another way financial institutions earn money from currency conversions.

Are There Any Alternatives to Traditional Banks?

Yes! Some online banks and financial services offer better exchange rates and lower fees than traditional banks. Services like Wise (formerly TransferWise), Revolut, and N26 are known for fair exchange rates and minimal fees.

If you frequently spend money in multiple currencies, it may be worth opening an account with one of these providers to save on fees.

Final Thoughts

Currency exchange fees are an unavoidable part of using a debit card for international purchases, but they don’t have to drain your wallet. By understanding how these fees work and using smart strategies like choosing the right card, withdrawing cash wisely, and paying in local currency, you can minimize extra costs and keep more money in your pocket.

Before you travel or make an international purchase, take a moment to check your bank’s fee structure. A little planning can save you a lot of money in the long run.

Running a business is hard work, whether you’re a freelancer handling multiple clients or an entrepreneur managing a growing company. One of the most important financial tools you need is a solid business debit card. Unlike credit cards, debit cards keep you from overspending since they only allow you to use the money you actually have. They also help you separate personal and business finances, which makes bookkeeping and tax season way easier.

But with so many options out there, which business debit card is best for you? We’ve done the research and put together a list of the best business debit cards for entrepreneurs and freelancers. Each one has its own perks, so let’s dive in!

1. Bluevine Business Debit Card

Why It’s Great for Entrepreneurs & Freelancers

• No monthly fees
• Earns interest on balances
• Free ATM access via MoneyPass network

The Bluevine Business Debit Card is a solid choice if you want a fee-free account with the ability to earn interest. Unlike most business checking accounts, Bluevine actually gives you interest on your balance—currently up to 2.00% on balances up to $250,000 (as of this writing). That’s a big deal if you keep a significant amount of money in your account.

Another plus is that there are no monthly fees or overdraft charges. If you’re a freelancer or small business owner looking to keep costs low, this card is a great pick.

Potential Downsides

• No physical branches (entirely online)
• Cash deposits come with a fee

If you deal with a lot of cash, this may not be the best option since depositing cash costs $4.95 per deposit at Green Dot locations.

2. Novo Business Debit Card

Why It’s Great for Entrepreneurs & Freelancers

• No monthly fees
• Refunds all ATM fees
• Integrates with accounting tools like QuickBooks & Xero

Novo is another fee-free option that’s perfect for digital entrepreneurs and freelancers. It refunds all ATM fees, which is amazing if you travel often or need to withdraw cash from various ATMs. Plus, it integrates well with popular business tools like QuickBooks, Xero, Shopify, and Stripe, making it a smart choice if you need seamless financial tracking.

Potential Downsides

• No cash deposits
• No physical branch locations

Novo is best for businesses that operate digitally. If you need to deposit cash, you’ll have to use a different bank or workaround, which can be inconvenient.

3. Chase Business Debit Card (Chase Business Complete Banking)

Why It’s Great for Entrepreneurs & Freelancers

• Physical branch locations nationwide
• Access to business credit & lending products
• $300 sign-up bonus (when meeting account requirements)

If you prefer a traditional bank, Chase’s Business Debit Card is a strong choice. You get access to their nationwide network of branches and ATMs, plus the opportunity to apply for business credit cards and loans. They also offer a $300 sign-up bonus if you meet their deposit and transaction requirements.

Potential Downsides

• $15 monthly fee (waived with $2,000 balance or qualifying transactions)
• Limited free transactions (20 per month, then fees apply)

For entrepreneurs who do a lot of transactions, Chase’s limits may be frustrating. However, if you keep at least $2,000 in your account or meet transaction requirements, you can avoid fees.

4. Lili Business Debit Card

Why It’s Great for Entrepreneurs & Freelancers

• Automatic tax savings tool
• No monthly fees
• Free ATM withdrawals at 38,000+ locations

Lili is an excellent option for freelancers and solo entrepreneurs. One of its best features is the automatic tax savings tool, which sets aside a portion of your income for taxes. This can be a lifesaver during tax season! Lili also offers a fee-free account with free ATM withdrawals at a large network of ATMs.

Potential Downsides

• No check deposits unless you upgrade to Lili Pro
• Limited integrations with business software

Lili is best for freelancers who primarily get paid via direct deposit or digital payments. If you deal with checks often, you may need to upgrade to the paid version, Lili Pro.

5. Brex Business Debit Card

Why It’s Great for Entrepreneurs & Freelancers

• No personal credit check required
• Earns rewards on purchases
• Integrates with accounting software

Brex is a unique option designed for startups and businesses looking to scale. It offers rewards on purchases—something rare for a debit card. You also don’t need a personal credit check, which makes it great for entrepreneurs who want to separate business finances without affecting their personal credit score.

Potential Downsides

• Only available to businesses (not solo freelancers)
• Must maintain a balance of $50,000+ for best perks

If you’re a freelancer, this one may not work for you unless you’ve incorporated your business. However, for funded startups and growing businesses, Brex is an attractive choice.

6. Axos Business Debit Card (Axos Basic Business Checking)

Why It’s Great for Entrepreneurs & Freelancers

• No monthly fees
• Unlimited domestic ATM fee reimbursements
• No minimum balance requirement

Axos offers a solid online banking option with no monthly fees and unlimited ATM fee reimbursements. You don’t need to keep a minimum balance, making it a flexible choice for freelancers and small business owners who experience income fluctuations.

Potential Downsides

• No physical branches
• Cash deposits require using a third-party location

Like many online banks, Axos isn’t ideal for businesses that handle a lot of cash. However, for digital entrepreneurs and freelancers, it’s a great low-cost option.

How to Choose the Right Business Debit Card for You

There’s no one-size-fits-all answer when it comes to business debit cards. The best option depends on your specific needs. Here are a few things to consider when picking the right card:

1. Fees & Costs

Look for a card with minimal fees. Many online business debit cards have no monthly fees, while traditional banks may charge fees unless you meet certain requirements.

2. ATM Access

If you withdraw cash often, choose a card that has a large ATM network or refunds ATM fees.

3. Business Tools & Integrations

If you use accounting software like QuickBooks or need payment processing, check if the debit card integrates with your existing tools.

4. Rewards & Perks

Most business debit cards don’t offer rewards, but some (like Brex) do. If you want to earn points or cashback, look for a card with these benefits.

5. Cash Deposits

If you handle a lot of cash, a traditional bank like Chase may be better than an online-only option like Novo or Axos.

Final Thoughts

Picking the right business debit card can make managing your finances easier and even save you money. Whether you’re a freelancer looking for a simple, fee-free option or an entrepreneur needing more advanced features, there’s a card out there for you.

Do your research, consider your needs, and choose the one that fits your business best. A good business debit card isn’t just a tool—it’s a step toward smarter money management and business growth. Happy banking!

Managing money can be tricky, especially when you’re trying to keep track of all your spending. Debit cards make things easier by letting you pay directly from your bank account, but without proper tracking, it’s easy to overspend. That’s where budgeting apps come in handy. They help you stay on top of your finances by monitoring your expenses, setting savings goals, and even giving you alerts when you’re spending too much.

In this article, we’ll explore some of the best budgeting apps that work seamlessly with your debit card. Whether you want a simple app that just tracks spending or a more advanced tool that helps with savings and investments, there’s something here for everyone.

1. Mint

Mint is one of the most well-known budgeting apps, and for good reason. It connects directly to your bank account, including debit card transactions, and automatically categorizes your spending. This makes it super easy to see where your money is going.

Pros:

• Automatically tracks and categorizes purchases
• Free to use
• Offers bill reminders and credit score monitoring

Cons:

• Some users experience syncing issues with their bank
• Ads can be annoying

Mint is great if you want a simple, all-in-one budgeting tool that helps you understand your financial habits.

2. YNAB (You Need a Budget)

If you’re serious about budgeting and want to take full control of your spending, YNAB is a fantastic option. Unlike other apps that just track your spending, YNAB encourages you to assign every dollar a job before you even spend it.

Pros:

• Helps you plan ahead and stop living paycheck to paycheck
• Easy-to-use interface with helpful tutorials
• Bank syncing and real-time transaction updates

Cons:

• Costs $14.99 per month or $99 per year
• Takes time to learn and get used to

YNAB is perfect for those who want to take an active approach to managing their money and build better spending habits over time.

3. EveryDollar

EveryDollar is a budgeting app created by financial expert Dave Ramsey. It’s built on the principle of zero-based budgeting, where every dollar is allocated to a specific category. You can manually enter transactions or link your bank account for automatic tracking.

Pros:

• Simple and easy to use
• Free version available (with a paid version for extra features)
• Great for people following Dave Ramsey’s Baby Steps plan

Cons:

• The free version requires manual entry
• Paid version costs $79.99 per year

EveryDollar is great for those who like a structured budgeting system without too many distractions.

4. PocketGuard

PocketGuard is a fantastic choice if you’re looking for a budgeting app that helps prevent overspending. It connects directly to your debit card and tells you how much money you have left after covering your bills and essential expenses.

Pros:

• Shows how much “safe-to-spend” money you have
• Automatically categorizes transactions
• Helps identify areas where you can save money

Cons:

• Free version is limited
• Some users report occasional syncing problems

PocketGuard is ideal for anyone who wants a simple, automated way to keep their spending in check.

5. Goodbudget

Goodbudget uses the traditional envelope budgeting method but in a digital form. You manually allocate money into different spending categories (or envelopes), and the app helps you stay within those limits.

Pros:

• No need to link bank accounts
• Great for couples who want to share a budget
• Free version available

Cons:

• Manual entry required for transactions
• Limited free version with only 10 envelopes

Goodbudget is great for people who prefer a more hands-on approach to budgeting and don’t want to link their bank accounts.

6. Empower Personal Dashboard (Formerly Personal Capital)

Empower Personal Dashboard is more than just a budgeting app—it also includes investment tracking, which makes it a great choice for those looking to grow their wealth.

Pros:

• Tracks both spending and investments
• Free to use
• Provides a net worth overview

Cons:

• Not as detailed for day-to-day budgeting
• Some features are aimed at higher-income users

Empower is ideal if you’re looking for a more complete financial picture, including savings and investments.

7. Simplifi by Quicken

Simplifi is a relatively new budgeting app that offers a clean, user-friendly experience. It automatically syncs with your debit card and categorizes spending while providing helpful insights.

Pros:

• Easy to use and visually appealing
• Customizable budget categories
• Tracks upcoming bills and subscriptions

Cons:

• Costs $3.99 per month or $35.99 per year
• Not as feature-rich as some competitors

Simplifi is great for those who want a simple and effective budgeting tool without unnecessary complexity.

Which App is Right for You?

Choosing the best budgeting app depends on your financial goals and how much effort you want to put into managing your money. Here’s a quick summary to help you decide:

• If you want a free, automatic budgeting app: Mint
• If you want full control over your budget: YNAB
• If you like zero-based budgeting: EveryDollar
• If you want to stop overspending: PocketGuard
• If you prefer manual tracking and envelope budgeting: Goodbudget
• If you want investment tracking along with budgeting: Empower
• If you want a visually appealing and easy-to-use app: Simplifi

Final Thoughts

Using a budgeting app that works with your debit card can make a huge difference in your financial life. It helps you see exactly where your money is going and allows you to make smarter spending decisions. Whether you prefer a detailed budgeting system like YNAB or a simple spending tracker like PocketGuard, there’s an app out there for you.

So, which one are you going to try? No matter what, taking the first step toward better money management is always a smart move!

Have you ever been in line at a store, and someone ahead of you just taps their card and walks away with their purchase? No swiping, no inserting, no PIN. It almost seems like magic, right? Well, that “magic” is the power of contactless debit cards, a technology that’s becoming more common in our everyday lives.

In this article, we’ll explore what contactless debit cards are, how they work, why they’re becoming so popular, and whether you should be using them. We’ll also discuss security concerns, advantages, and potential drawbacks, so you can decide if making the switch to tap-to-pay is the right move for you.

What Are Contactless Debit Cards?

A contactless debit card is just like a regular debit card, but it has built-in technology that allows you to make payments without physically inserting it into a machine. Instead, you simply tap the card on a payment terminal, and—boom!—the transaction is processed instantly.

These cards use Near Field Communication (NFC) technology, which allows the card and the payment terminal to communicate wirelessly when they are close to each other. If you’ve ever used Apple Pay, Google Pay, or another mobile wallet, it’s the same concept, just built directly into the card itself.

The Growth of Contactless Payments

Contactless payments have been around for a while, but they really started to take off in the past few years. There are several reasons why they’re becoming the preferred choice for many people:

1. Convenience

Who doesn’t want to save a few seconds at checkout? With a simple tap, your payment is processed without the need to enter a PIN or sign a receipt. This is especially handy in fast-paced environments like coffee shops, public transport, and grocery stores.

2. Hygiene and Safety

The COVID-19 pandemic changed the way people think about touching public surfaces. Many people became more conscious about hygiene, and contactless payments allowed them to avoid touching keypads or exchanging cash with store employees.

3. Faster Transactions

Retailers love contactless payments because they speed up the checkout process. This means shorter lines, less hassle, and a smoother shopping experience for both customers and businesses.

4. Wider Adoption by Banks and Merchants

Most banks now issue contactless-enabled debit and credit cards by default. At the same time, more retailers and service providers have upgraded their payment terminals to accept tap-to-pay transactions, making it easier than ever to use contactless technology.

How Do Contactless Payments Work?

When you tap your card on a payment terminal, an encrypted signal is sent from your card to the terminal. The payment processor then verifies the transaction and completes the payment—usually in just a second or two.

Most contactless payments do not require a PIN for small purchases, though some banks set a transaction limit, usually around $100. For larger purchases, you may still be required to enter a PIN or sign a receipt.

Are Contactless Debit Cards Safe?

One of the biggest concerns people have about contactless cards is security. Since you don’t need to insert your card or enter a PIN for small transactions, it might seem like an easy target for fraud. However, there are several safety measures in place:

1. Encryption and Tokenization

Every contactless transaction generates a unique, one-time code that cannot be reused. Even if someone somehow intercepts this code, it won’t work for future transactions.

2. Short-Range Communication

NFC technology requires your card to be extremely close (usually within an inch) to the payment terminal. This means that a hacker would have to be physically very close to you to even attempt to steal your card’s information.

3. Spending Limits

Many banks set a limit on contactless transactions to prevent unauthorized large purchases. If someone steals your card, they can only make small transactions before being required to enter a PIN.

4. Bank Protection Policies

Most banks offer fraud protection and will reimburse you if unauthorized transactions occur. However, it’s still a good idea to monitor your account and report any suspicious activity immediately.

Pros and Cons of Contactless Debit Cards

Before you decide whether to use a contactless debit card, it’s important to weigh the benefits and drawbacks.

✅ Pros

• Quick and easy transactions – No need to enter a PIN or sign receipts for small purchases.
• More hygienic – Reduces contact with payment terminals.
• Widely accepted – More stores and services are adding contactless support.
• Secure technology – One-time transaction codes make it difficult for fraudsters to steal information.

❌ Cons

• Risk of theft – If your card is lost or stolen, someone could make small purchases until a limit is reached.
• Not all places accept it – Some businesses, especially in rural areas, still rely on traditional chip-and-PIN methods.
• Potential for accidental payments – If you keep your card too close to a reader, it could process a payment without you intending to.

How to Protect Yourself While Using Contactless Cards

If you’re worried about security, here are some simple steps you can take:

1. Use a Card with a Spending Cap – Some banks allow you to set a daily spending limit on contactless transactions.
2. Monitor Your Transactions – Check your bank statements regularly to catch any suspicious activity.
3. Use a RFID-Blocking Wallet – This can help prevent thieves from skimming your card’s data.
4. Turn Off Contactless Payments if Needed – Some banks allow you to disable contactless payments through their mobile app.

The Future of Contactless Payments

As technology advances, contactless payments will likely become even more secure and widespread. Some experts predict that physical wallets will become a thing of the past, replaced entirely by digital wallets and tap-to-pay solutions.

With innovations like biometric authentication (fingerprints, facial recognition) and even wearable payment devices (smartwatches, rings), contactless transactions will likely become even more convenient and secure.

Conclusion

Contactless debit cards are revolutionizing the way we pay for things, offering speed, convenience, and security. While there are some risks involved, most can be easily managed with basic precautions.

If your bank offers a contactless debit card, it might be worth giving it a try. Whether you’re grabbing a quick coffee, paying for a bus ride, or checking out at the grocery store, tapping your card and moving on with your day has never been easier.

So, what do you think? Are you ready to join the contactless revolution, or do you still prefer the old-school way of swiping and inserting your card? Either way, the choice is yours—but one thing’s for sure: contactless payments are here to stay!

Using a debit card for everyday purchases has become a way of life for many people. It’s quick, easy, and keeps you from carrying a lot of cash. But, like anything, there are advantages and disadvantages to relying on a debit card for your daily spending. Understanding these pros and cons can help you make smarter financial decisions and avoid potential pitfalls. Let’s break it down in a way that’s simple and relatable.

Pros of Using a Debit Card for Everyday Purchases

1. Convenience and Ease of Use

Debit cards are accepted almost everywhere, making them one of the easiest payment methods to use. Whether you’re grabbing a coffee, filling up your gas tank, or shopping online, all it takes is a quick swipe, tap, or chip insert. No need to fumble around with bills and coins or worry about writing checks.

2. No Debt Accumulation

Unlike credit cards, a debit card only allows you to spend what you actually have in your bank account. This helps prevent overspending and falling into debt. When you make a purchase, the money is immediately deducted from your account, so you’re always aware of your balance.

3. Helps With Budgeting

Since you can only spend what’s in your account, debit cards make it easier to stick to a budget. You won’t be tempted to spend money you don’t have, unlike with credit cards, where you might end up spending more and worrying about paying it off later.

4. Avoids Interest Charges

Credit cards come with interest fees if you don’t pay off your balance in full each month. Debit cards, on the other hand, don’t charge interest because you’re not borrowing money. This can save you a lot of money over time, especially if you’re someone who struggles to pay off credit card balances each month.

5. Safer Than Carrying Cash

Losing cash means it’s gone forever, but if you lose your debit card, you can quickly report it and freeze your account. Many banks also offer fraud protection, so if someone tries to use your card without your permission, you can dispute the charge and get your money back.

6. Easy Access to Cash

With a debit card, you can withdraw cash from ATMs whenever you need it. This can be especially useful when you’re traveling or in situations where cash is the preferred payment method.

7. Some Cards Offer Rewards

While rewards programs are more common with credit cards, some banks do offer cashback or rewards programs for using your debit card. This means you can earn a little extra money just for making everyday purchases.

Cons of Using a Debit Card for Everyday Purchases

1. Limited Fraud Protection

While debit cards do offer some fraud protection, they don’t always provide the same level of security as credit cards. If your card information gets stolen and money is taken from your account, it might take longer to recover your funds compared to a credit card charge dispute.

2. No Credit Building

Using a debit card won’t help you build your credit score because you’re not borrowing money. If you want to establish or improve your credit, you’ll need to use a credit card responsibly or take out a loan and make regular payments.

3. Overdraft Fees

If you accidentally spend more than what’s in your account, you could get hit with an overdraft fee. Some banks charge hefty fees for overdrafts, which can add up quickly if you’re not careful. This can be avoided by monitoring your balance regularly and setting up overdraft protection if your bank offers it.

4. Less Protection for Big Purchases

Credit cards often come with extra protections like extended warranties, purchase protection, and the ability to dispute charges more easily. Debit cards don’t always offer these benefits, which could be a drawback if you’re making a large purchase.

5. Holds on Funds

Some businesses, like hotels and rental car companies, place a hold on your account when you use a debit card. This means a certain amount of money is temporarily unavailable to you until the hold is lifted, which can be frustrating if you need access to your funds.

6. ATM Fees

If you use an ATM outside of your bank’s network, you might be charged a fee for withdrawing money. These fees can add up over time, so it’s important to plan your cash withdrawals wisely.

7. Less Rewards Compared to Credit Cards

While some debit cards offer rewards, they are generally not as generous as those provided by credit cards. If you’re looking to maximize cashback or travel points, a credit card might be the better option.

Final Thoughts: Is a Debit Card Right for You?

Whether or not a debit card is the best choice for your everyday spending depends on your personal financial habits. If you prefer to avoid debt, stick to a budget, and keep your spending simple, a debit card is a great option. However, if you’re looking to build credit, earn better rewards, or take advantage of purchase protections, using a credit card (responsibly) might be a better fit.

A good strategy could be using a combination of both. Use a debit card for smaller, everyday purchases and a credit card for bigger purchases where extra protection and rewards matter. The key is to stay informed and choose what works best for your financial situation.

At the end of the day, it’s all about making smart choices with your money. Keep an eye on your spending, be aware of fees, and always protect your financial information. Happy spending!

Traveling abroad can be an exciting adventure, but nothing ruins a trip faster than unexpected fees eating into your budget. If you’re someone who loves to explore the world or you just need to make international transactions, having the right debit card can save you a lot of money. Many traditional banks charge hefty fees for foreign transactions, ATM withdrawals, and currency conversions. But thankfully, there are some great options out there that keep costs low while offering convenience and security.

In this article, we’ll go over some of the best debit cards for international use with low fees in 2025, so you can travel and spend without worry.

What to Look for in a Debit Card for International Use

Before we jump into our top picks, let’s talk about what makes a debit card good for international travel. Here are a few key things to consider:

• Low or No Foreign Transaction Fees – Many banks charge around 3% on every foreign purchase, which adds up fast. The best cards don’t have this fee.
• No or Low ATM Fees – Withdrawing cash abroad can come with expensive ATM fees from both your bank and the ATM provider. Some cards reimburse these fees.
• Competitive Exchange Rates – Some banks sneak in extra costs by offering poor exchange rates. Look for a card that offers rates close to the mid-market rate.
• Strong Security Features – Traveling means a higher risk of fraud. The best cards come with fraud protection, instant freeze options, and two-factor authentication.
• Ease of Use & Customer Support – A card should be easy to use worldwide, and in case something goes wrong, reliable customer support is a must.

With those factors in mind, let’s dive into the best debit cards for international travel in 2025.

1. Charles Schwab High-Yield Investor Checking Account

Why It’s Great:

• No foreign transaction fees
• Unlimited ATM fee reimbursements worldwide
• No minimum balance or monthly fees
• Competitive exchange rates

Charles Schwab’s High-Yield Investor Checking Account is a top choice for travelers. The biggest perk? They refund all ATM fees worldwide, meaning you can withdraw cash anywhere without worrying about fees stacking up. Plus, there’s no foreign transaction fee, so you won’t be charged extra when making purchases in another currency.

The only downside is that you’ll need to link this account with a Charles Schwab brokerage account, but there’s no requirement to use it. For international travelers who want free ATM withdrawals and low fees, this card is hard to beat.

2. Wise (formerly TransferWise) Debit Card

Why It’s Great:

• No foreign transaction fees
• Uses the real mid-market exchange rate
• Low ATM withdrawal fees (up to a certain limit)
• Available in multiple currencies

Wise is an excellent choice for those who frequently deal with multiple currencies. It offers some of the best exchange rates around because it uses the real mid-market rate with no hidden markups. The Wise debit card allows you to hold and spend in multiple currencies, making it perfect for digital nomads and frequent travelers.

The only catch? Free ATM withdrawals are capped at $100 per month (limits vary by country), after which you’ll pay a small fee. But for online transactions and everyday spending, it’s a fantastic card with transparent pricing.

3. Capital One 360 Checking Account

Why It’s Great:

• No foreign transaction fees
• No minimum balance or monthly fees
• Free access to over 70,000 ATMs worldwide
• Good fraud protection

Capital One 360 Checking is another solid option for travelers who want no foreign transaction fees. It’s easy to use, and Capital One is known for having great customer service. While it doesn’t offer unlimited ATM reimbursements like Schwab, it does provide access to a huge ATM network, which helps avoid fees.

One small downside is that if you use an out-of-network ATM abroad, you might face a fee from the ATM provider. Still, it’s a great card with no hidden costs.

4. SoFi Checking & Savings Account

Why It’s Great:

• No foreign transaction fees
• Reimburses some ATM fees worldwide
• No account fees or minimums
• Offers interest on balance

SoFi’s debit card is a newer player in the international travel scene, but it’s quickly becoming a favorite. It doesn’t charge foreign transaction fees and even reimburses ATM fees, though with some limits. An added perk is that your money earns interest, which is rare for checking accounts.

A downside is that ATM reimbursements are limited, so if you’re withdrawing cash often, Schwab might be a better pick. But for casual travelers, this card is a fantastic, fee-free option.

5. Revolut Debit Card

Why It’s Great:

• No foreign transaction fees (up to a limit)
• Competitive exchange rates
• Ability to hold and spend in multiple currencies
• Budgeting and spending insights

Revolut is a great option for international spenders, especially those who travel frequently. You can exchange and hold multiple currencies, and there’s no foreign transaction fee for spending within your plan’s limit. However, free ATM withdrawals are limited to around $200 per month on the basic plan, after which a fee applies.

One of the best things about Revolut is its budgeting features—it gives real-time insights into your spending habits, helping you manage your money better while abroad. If you travel often, upgrading to a premium plan might be worth it.

Honorable Mentions

While the five options above are the best overall, here are a few other debit cards worth considering:

• Fidelity Cash Management Account – No foreign transaction fees and ATM reimbursements, but requires a brokerage account.
• Chime Visa Debit Card – No foreign transaction fees, but doesn’t reimburse ATM fees.
• Citi Priority Checking – Offers some ATM reimbursements but has balance requirements.

Final Thoughts: Which Card is Right for You?

The best debit card for international use depends on your travel habits and financial needs. Here’s a quick rundown to help you choose:

• Frequent Travelers & ATM Users → Charles Schwab
• Best Exchange Rates & Online Spending → Wise
• Best Customer Support & Bank Network → Capital One 360
• Earning Interest While Traveling → SoFi
• Best for Digital Nomads & Budgeting → Revolut

No matter which card you choose, make sure to notify your bank before traveling, so they don’t flag your transactions as suspicious. Also, always have a backup payment method just in case!

With the right debit card in your wallet, you can enjoy your travels without stressing over unnecessary fees. Safe travels!

In today’s fast-paced world, saving money can feel like an impossible task. With bills to pay, groceries to buy, and unexpected expenses popping up left and right, it’s easy to see why so many people struggle to put money aside for the future. But what if there was a way to save money without even thinking about it? That’s where round-up savings comes in.

Round-up savings is a simple but powerful tool that allows you to save money automatically every time you make a purchase with your debit card. This method works by rounding up each transaction to the nearest dollar and depositing the extra change into a savings account. Over time, those small amounts add up, helping you build a financial cushion without much effort.

How Round-Up Savings Works

The concept is incredibly easy to understand. Let’s say you buy a coffee for $3.75. If you have round-up savings enabled, your bank or financial app will round the total up to $4.00 and deposit the extra $0.25 into your savings. It doesn’t sound like much, but when you make multiple transactions per day, week, or month, those quarters can turn into a serious savings stash over time.

Many banks and financial apps offer this feature, allowing you to customize how much you want to save. Some even allow you to multiply the round-up amount to save even more aggressively. For example, instead of just rounding up to the nearest dollar, you can set it to round up by $1 or $2 per transaction, speeding up your savings.

The Benefits of Round-Up Savings

There are plenty of reasons to love round-up savings. Here are some of the biggest benefits:

1. Effortless Saving

Saving money can sometimes feel like a chore, but round-up savings makes it automatic. You won’t even notice the extra cents leaving your checking account, but over time, they’ll add up in your savings.

2. Builds Healthy Financial Habits

One of the hardest parts of managing money is creating good habits. Round-up savings encourages you to save regularly, making it easier to build a healthy financial mindset. The more you see your savings grow, the more motivated you may become to put away even more money.

3. Works for Any Budget

Whether you’re living paycheck to paycheck or earning a comfortable income, round-up savings works for everyone. Since it only takes small amounts at a time, it won’t put a strain on your daily budget.

4. Can Help You Reach Financial Goals Faster

Are you saving for a vacation? A new car? A down payment on a house? Whatever your goal, round-up savings can help you reach it faster without making big sacrifices.

5. Encourages a Mindful Approach to Spending

When you know that each purchase contributes to your savings, you may find yourself thinking twice before making unnecessary purchases. This can lead to smarter spending habits over time.

How to Get Started with Round-Up Savings

Getting started with round-up savings is easier than ever. Here are the steps to set it up and start growing your wealth:

Step 1: Check with Your Bank or Financial Institution

Many banks offer round-up savings as a free feature. Check your bank’s website or mobile app to see if they have this option. If they do, it may just take a few clicks to activate it.

Step 2: Use a Third-Party App if Needed

If your bank doesn’t offer round-up savings, don’t worry! There are several apps like Acorns, Chime, and Qapital that provide this feature. These apps link to your bank account and automatically transfer your spare change to a savings or investment account.

Step 3: Decide Where You Want the Savings to Go

Some people prefer their round-up savings to go into a standard savings account, while others use it to invest. If you’re looking to grow your money even more, consider putting it into an investment account where it has the potential to earn interest over time.

Step 4: Adjust Your Round-Up Settings

Many services allow you to adjust your round-up preferences. You can choose to round up to the nearest dollar, double the round-ups, or even manually transfer additional amounts.

Step 5: Track Your Savings Growth

Once everything is set up, check in on your savings every so often. You might be surprised at how quickly it grows! Some apps provide reports and insights into your savings habits, helping you stay motivated.

Maximizing the Impact of Round-Up Savings

If you really want to make the most of round-up savings, here are a few extra tips:

• Combine It with Regular Savings Contributions: While round-up savings is a great tool, it shouldn’t replace regular savings contributions. Consider setting up a recurring transfer to your savings account in addition to round-ups.
• Use It to Pay Off Debt: If you’re working on paying off credit card debt or student loans, consider applying your round-up savings toward extra payments. Every little bit helps reduce interest costs.
• Invest Your Round-Ups: Some apps allow you to invest your round-ups in stocks or ETFs. This can be a great way to grow your wealth over time, especially if you start early.
• Link It to a High-Yield Savings Account: If you want your money to work harder for you, consider linking your round-up savings to a high-yield savings account where it can earn more interest.
• Challenge Yourself: Try doubling your round-ups for a month and see how much you can save. Small changes in habits can lead to big results.

Real-Life Success Stories

To show just how powerful round-up savings can be, let’s look at a few real-life examples:

Case 1: Sarah’s Vacation Fund

Sarah, a 28-year-old teacher, wanted to take a dream vacation but struggled to save. She enabled round-up savings through her bank and, within a year, had saved over $600 without even trying! She used that money to book flights and hotels for her trip.

Case 2: Mike’s Emergency Fund

Mike, a recent college graduate, knew he needed an emergency fund but didn’t have much extra cash. He started using a round-up savings app and within 18 months, he had built a $1,200 emergency fund, giving him peace of mind for unexpected expenses.

Case 3: Jessica’s Investment Journey

Jessica wanted to start investing but felt overwhelmed. She signed up for Acorns and let her round-ups go into an investment portfolio. After two years, she had over $1,500 invested and was on her way to building long-term wealth.

Final Thoughts

Round-up savings with debit cards is one of the easiest and most effective ways to grow your wealth without feeling like you’re making a sacrifice. It’s automatic, painless, and surprisingly powerful. While it won’t make you rich overnight, it’s a great stepping stone to building better financial habits and securing your future.

If you haven’t tried it yet, give it a shot. You might be surprised at how quickly those small round-ups turn into something big!