Best Banks for International Travel for 2024

The best banks for international travel make it easy to access and manage your money from anywhere in the world. And they do so without charging you an arm and a leg in extra fees.

Here are our top picks for the best international travel accounts, as well as some things to consider when making your own choice.

How to find the best bank for your international travels

Finding the best bank for international travel is essentially a two-step process. You need to not only choose a bank, but also a bank account. So, consider what you want from your bank -- as well as what you need from your bank account.

The banking experience

The first choice you'll need to make is the type of bank you want: an online-only bank or one with brick-and-mortar branches. This choice may depend mostly on how much banking you'll do in the U.S. versus abroad. If you're rarely going to be stateside, for instance, then the number of domestic branches isn't particularly important.

Learn more: Online vs. Brick-and-Mortar Banks

Another factor is the size of the institution. Larger banks may have more experience with international transactions than smaller banks and credit unions. They also likely have more resources to put in things like 24/7 customer service lines.

Accounts and services

The types of accounts and services you need your bank to offer will depend on how you plan to use it. You may simply want somewhere to keep your money so you can access cash while abroad. In that case, look for a basic checking account with useful features like ATM fee reimbursement and no foreign transaction fees.

In other cases, you may need additional services. For example, you may want the option to send wire transfers between accounts and countries without excess fees. Or you may want to use the same bank for all of your financial needs both home and abroad. In the latter situation, you should explore the bank's savings accounts and lending options.

Debit cards and ATMs

At a minimum, you're going to want an account you can access at an ATM. You may also need to make the occasional purchase. This means your bank should offer debit cards that work everywhere, meaning they operate on one of the four major networks:

• Visa
• Mastercard
• Discover
• American Express

Physically, your debit card needs to have an EMV chip, as many countries no longer accept cards with magnetic strips, even at ATMs. It should also be enabled for contactless payments, which is quickly becoming the norm throughout the U.K. and Europe.

Maintenance and transaction fees

In addition to exploring the types of accounts a bank offers, consider the cost of those accounts. Bank accounts come with a range of fees, from service fees to maintain your account to transaction fees to use it. Most of these fees apply whether you're using the account at home or abroad, but some fees are particularly important when traveling.

• Monthly service fees: Many banks will charge a monthly service or maintenance fee to keep your account open. These range widely depending on the type of account. In general, the more features the account has, the more it will cost you to keep it open.
• ATM fees: Both your bank and the ATM owner (if not your bank) can charge a fee to withdraw money. Some banks offer fee-free ATM use domestically, but charge a fee internationally. Others will not only waive fees at home, but reimburse ATM fees while traveling.
• Foreign transaction fees: The fees can apply any time you: Make a withdrawal in a foreign currency, make a debit card purchase in a foreign currency, or make a debit card purchase that routes through a foreign bank. Your bank may charge them for every account, only charge for certain accounts, or waive them entirely.

All of these fees can add up to a big expense just to have access to your own money while traveling internationally. On the bright side, many of these fees can be avoided.

Related: Credit Cards With No Foreign Transaction Fees

Account and card security

You always want your bank to have good security, but some features become even more important when you're frequently away from home. For instance, good banks for travel make it easy to freeze your debit cards and/or accounts if your cards are lost or stolen. It should also be easy to report a lost or stolen card through the mobile app from wherever you are.

Another key security feature is two-factor authentication for your bank's login. This is the system where you need to use both your password and a special code sent by text message or automated call to log into your account. It adds an extra layer of security in case your mobile device or computer is lost or stolen in transit.

Customer service

It's always a good idea to choose a bank with solid customer service -- even small issues can feel big when your money is in jeopardy. But it's downright vital when there's a literal ocean between you and the nearest branch.

Perhaps the most important feature is a bank that offers 24/7 customer support. Banks with traditional 9-to-5 hours are fine when you're in the same zip code, but they can be inconvenient (at best) when you're in a time zone that's 12 hours ahead. At the very least, secure email or online chat support is a must.

Our bank and credit union methodology

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how The Motley Fool Ascent rates bank accounts.

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