Best Banks for International Travel
Whether you are preparing to make a once in a lifetime international trip or you take international flights frequently, picking the right banks for international travel is essential. International ATM fees can be a burden for many travelers. Many of the banks by default offer customer friendly services when it comes to international travel. Here is a handpicked list of banks suggested by our experts, from research and experience. This list is based on various features and facilities made by the bank, in tandem to the traveler’s requirements.
Charles Schwab Bank
If you sign up as a customer for Charles Schwab Bank, you are entitled to a lot of exclusive benefits. Unlimited ATM fee rebates are one of the most attractive benefits offered by Charles Schwab Bank. However, the customer should sign up for High Yield Investor checking account to receive unlimited ATM fee rebates. Another interesting privilege that Charles Schwab Bank provides for its customers is the absence of monthly fees. There are no minimum balance requirements, provided that your account is linked to a Schwab One brokerage account. An uncommon perk given to its customers by Charles Schwab bank is that it does not charge any transaction fees for using your debit card when you are abroad.
Citibank
Citibank is very popular among international travelers. Many travelers considered this the best bank for a wire transfer of money across international borders. Citibank is inexpensive when it comes to wiring money. Another interesting perk offered by Citibank is that if both the sender and the receiver of the wired money has Citibank accounts, the transaction fee for wiring the money will be waived completely. This offer stands for both national and international wire transfers, which is quite a deal. However, if the recipient of the wired money does not own a Citibank account, it charges as much as $35 for each wire transaction.
HSBC Bank
HSBC bank is on this list for a unique reason. It is one of the few banks that offers its customers money during emergencies in travel. You are eligible to receive up to $10,000 either in US Currency or foreign currency. You are qualified for this financial help only if you are an Advanced or Premier client. You can receive this money in case of emergencies such as theft or robbery, medical emergencies, or in case you lose your wallet during international travel.
Capital One 360
Owning a Capital One 360 bank account will prove to be very helpful to you, and will allow you to avoid most of the foreign transaction fees when you make international journeys. Most of the banks will charge you with a foreign transaction fee when you either make purchases from outside the US or order a product online from another country. However, Capital One 360 does not charge you at all for either of these services. Getting a wire transfer via your Capital One 360 account is also free of cost when you are abroad.
