What is a foreign transaction fee? What cards charge you abroad
By SendPay Business · · 2 min read
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- 2Tap it to pay in a shop
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A foreign transaction fee is an extra charge some card providers add when you pay in a currency other than your card's own. In the UK it is often called a non-sterling transaction fee, and on many high street cards it is around 3% of each payment.
Where the cost comes from
Tap to explore
Tap each one to see what it means.
The exchange rate
the rate used to turn the foreign amount into your own currency.
The foreign transaction fee
a percentage your card provider adds on top.
It applies online too
The fee isn't only for holidays. Buying from a website that charges in euros or dollars counts as a foreign transaction, even if you never leave home.
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How to pay less
Check your card's fees before you travel; some cards charge no foreign transaction fee. When a shop or cash machine abroad offers to charge you in your own currency, choose the local currency instead: that offer, called dynamic currency conversion, usually comes with a worse rate. Holding money in the currency you'll spend avoids converting on every payment.
Where SendPay fits
SendPay platforms give your customers GBP, EUR and USD accounts, currency exchange at a fee the owner sets, and branded Visa cards, powered by licensed partners.
How it works
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- 3Launch when you are ready
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
What will my card charge me abroad?
Work out the fee on your own spending.
Foreign transaction fee calculator →Pay in local currency or your own?
See the mark-up hidden in a card machine's offer.
Dynamic currency conversion calculator →What is dynamic currency conversion?
Being offered your own currency abroad, at a worse rate.
What is dynamic currency conversion? →What is a multi-currency account?
One account holding several currencies.
What is a multi-currency account? →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.