Snapshot: What Chase says about foreign transaction fees
Chase markets a subset of its cards with a straightforward line: “No foreign transaction fees.” (https://creditcards.chase.com/no-foreign-transaction-fee-credit-cards) That phrase appears on flagship product pages for the Chase Sapphire Preferred and Chase Sapphire Reserve cards, among others. Chase Sapphire Preferred and Chase Sapphire Reserve both display that language on their product pages.
Those two messages coexist. On one hand certain Chase credit cards expressly exclude a foreign transaction fee. On the other hand Chase’s deposit-account fee schedules and many debit-card disclosures show explicit charges for foreign-currency activity, including a Foreign Exchange Rate Adjustment often equal to 3% of the converted amount. Chase’s public fee documents include the bank’s deposit-account fee schedule and related disclosures where that adjustment appears. See Chase’s fee and deposit-account PDFs for the specific contractual language: Chase Additional Banking Services and Fees (PDF) and the Chase Total Checking guide (PDF).
Which Chase products do not charge an international fee
A number of travel-oriented Chase credit cards (cards with no foreign transaction fee) carry no issuer foreign-transaction charge. Product pages explicitly stating “No foreign transaction fees” are collected on Chase’s site and appear on individual card pages. Chase — No foreign transaction fee credit cards and specific travel pages for Sapphire products show that benefit.
By contrast, most standard Chase debit cards and several non-travel-branded credit products apply an adjustment or surcharge when a transaction posts in a currency other than U.S. dollars. The presence or absence of the fee depends on the exact product and on account features tied to premium retail-banking offerings. Chase’s deposit-account terms list non-Chase ATM withdrawal fees and the 3% foreign exchange adjustment; see the bank’s published fee materials for details. The Chase Sapphire Checking product documentation also spells out ATM fee benefits for eligible account holders. Chase Sapphire Checking — account features and Chase Sapphire Checking — fees.
How foreign transaction fees are calculated
A foreign purchase generates two distinct effects on a cardholder’s statement: a currency conversion and one or more surcharges. Visa and Mastercard publish guidance that clarifies those steps. Network rules note that cardholder accounts are debited in the billing currency after a conversion using a network exchange rate set at authorization or settlement. Mastercard and Visa documentation on point-of-interaction currency conversion and dynamic currency conversion explain the options and the consequences. See Visa’s consumer guidance on dynamic currency conversion and Mastercard’s dynamic currency conversion guides for the issuer and merchant rules. Visa — Dynamic Currency Conversion and Mastercard — DCC Performance Guide (PDF).
Practical implications are:
- The network exchange rate converts the merchant’s local price into U.S. dollars. Visa and Mastercard publish daily rates and provide conversion tools for approximate values. Visa — Foreign exchange support and Mastercard — Currency exchange converter.
- Issuers may add a foreign transaction fee after conversion. Industry reporting shows the net market pattern as a combination of a network processing component plus an issuer surcharge that together typically equal about 1% to 3% of the transaction. Consumer guides summarize that “Foreign transaction fees generally range from 1 percent to 3 percent.” See Bankrate and Investopedia summaries for commonly reported ranges. Bankrate — A Guide to Foreign Transaction Fees and Investopedia — Foreign transaction fee.
- DCC can override network conversion with a merchant-provided conversion rate and an added conversion fee. Mastercard’s DCC rules warn that the acquirer/merchant-offered rate may include an extra charge; both Visa and Mastercard guidance advise cardholders to decline merchant conversion offers if they wish to avoid additional currency conversion fees. Visa — DCC guidance and Mastercard — DCC guide.
This layered architecture explains why two different cards used for the same purchase can result in different final dollar amounts even when the merchant price is identical.
Foreign transaction fee calculation: a numeric example
Suppose a €100 restaurant bill posts with a network rate that converts it to $110. An issuer that applies a 3% foreign transaction fee will add $3.30 after conversion, producing a total posted amount of $113.30 to the account. Any DCC decision made at checkout can increase that figure because merchant conversions sometimes incorporate a markup. The calculation steps are: convert currency using a published network or acquirer rate, then apply issuer percentage fees where applicable. Industry overviews present the same architecture; see Bankrate’s and Investopedia’s explanations for comparable numeric descriptions. Bankrate, Investopedia.
ATM use, debit cards, and Chase’s fees for cash abroad
ATM withdrawals expose four potential charges: the ATM owner’s surcharge, the withdrawer’s bank out-of-network fee, any currency-conversion adjustment, and a network charge that may be embedded. Chase’s personal fee schedule lists a $5 non-Chase ATM withdrawal fee for transactions made outside the U.S., plus the 3% Foreign Exchange Rate Adjustment for transactions not denominated in U.S. dollars. The schedule also notes that ATM-owner surcharges remain possible and that refunds of such surcharges depend on account type. See Chase fee PDFs for the exact wording. Chase Total Checking guide (PDF) and Chase Additional Banking Services and Fees (PDF).
Industry guides and travel-focused fintech advisories underscore an additional point: many U.S. banks apply a 3% adjustment to debit-card purchases and ATM withdrawals in non-USD, a practice that can make cash expensive for travelers who use ordinary checking-linked cards. See Wise’s guide to Chase foreign transaction fees and other consumer comparisons for practical examples. Wise — Chase foreign transaction fees.
Currency conversion fee explained and dynamic currency conversion risk
Dynamic currency conversion (DCC) is the merchant-or-ATM operator choice to display or settle in the cardholder’s home currency. Visa’s consumer guidance describes the choice, and Mastercard’s DCC standards state that the merchant’s offered conversion “includes exchange rate and additional fees.” The practical takeaway is that even when a card has no foreign transaction fee, choosing the merchant’s home-currency option can add a costly markup, sometimes exceeding typical issuer surcharges. See Visa and Mastercard DCC materials and traveler-focused reporting for warnings and examples. Visa — DCC, Mastercard — DCC, and The Points Guy — Avoid dynamic currency conversion.
Best ways to avoid foreign ATM charges and other practical steps
Card selection and behavior determine cost. Recommended actions that reduce expense include:
- Use cards with no foreign transaction fee for purchases. Chase markets several credit cards with that feature. Chase — no foreign transaction fee cards.
- For cash, prioritize ATM networks that reimburse or waive ATM surcharges, or use premium checking products with worldwide ATM benefits. Chase’s Sapphire Checking documentation details “ATM Fees — $0 Worldwide” for eligible account holders. Chase — Sapphire Checking ATM fees.
- Avoid merchant-offered currency conversion. Decline DCC prompts and ask to be charged in the local currency, which keeps conversion on the network side and reduces markup risk. Visa and Mastercard guidance both recommend this practice. Visa — DCC guidance and Mastercard — DCC guide.
- Consider specialist travel accounts or fintech multi-currency cards as an alternative. Multiple consumer comparisons highlight that dedicated travel products often present lower conversion margins for sizeable cash needs. See Wise’s overview for alternatives. Wise — guide.
- Make fewer, larger ATM withdrawals to reduce per-withdrawal fixed fees, and monitor ATM-owner surcharges before approving a withdrawal.
These steps address both “avoid ATM fees abroad” and “avoid currency conversion fees” in practice, and they rank among the best ways to avoid foreign ATM charges available to consumers.
Which Chase cards are best for travel
Products with a travel focus are the most consistent method to escape foreign transaction fees from the issuer. Chase’s travel lineup, including Chase Sapphire Preferred and Chase Sapphire Reserve, lists “No foreign transaction fees” on product pages and positions those cards for international spending. Travel planners and card reviewers also identify these cards as among the best Chase cards for travel on the basis of benefits and fee structure. Chase Sapphire Preferred, Chase Sapphire Reserve, and Chase’s no-foreign list provide the issuer-side protections travelers often seek.
Final Considerations
Chase’s public materials and its fee schedules present a clear choice architecture for travelers. Select a travel-branded Chase credit card to obtain Chase no foreign transaction fee protection for purchases. Avoid using a standard Chase debit card for routine cash withdrawals abroad, because the bank’s fee schedule shows a Foreign Exchange Rate Adjustment of 3% plus a $5 non-Chase ATM withdrawal fee in many cases. When selecting cards or accounts compare product pages, the deposit-account fee schedule, and cardmember agreements for exact language and percentages. The core mechanics that determine final cost are visible: network exchange-rate conversion, any network or acquirer processing component, issuer surcharges, and merchant DCC markups. The combination of product choice and checkout behavior will determine whether a traveler pays a modest spread or a noticeable surcharge.
Sources cited in the text include Chase product pages and fee schedules, Visa and Mastercard network guidance on currency conversion and dynamic currency conversion, and market analyses from Bankrate, The Points Guy, Investopedia and Wise. These documents provide the contractual wording and practical numbers needed to quantify tradeoffs and plan payment strategy for international travel. Chase product pages and no-foreign lists: https://creditcards.chase.com/no-foreign-transaction-fee-credit-cards, Chase Sapphire Preferred, Chase Sapphire Reserve; Chase fee schedules and deposit-account PDFs: Chase Additional Banking Services and Fees (PDF), Chase Total Checking guide (PDF); Visa and Mastercard guidance: Visa — Dynamic Currency Conversion, Mastercard — DCC guide (PDF); commentary and consumer guides: Bankrate — A Guide to Foreign Transaction Fees, Investopedia — Foreign transaction fee, The Points Guy — Avoid DCC, and Wise — Chase foreign transaction fees.