How To Get US Bank’s Foreign Transaction Fees Waived With DoNotPay
Financial institutions charge a transaction fee for purchases or cash advances performed with a US card in a foreign country. The fee ranges from 0% to 3% of the transaction amount. The fee is a surcharge to cover the costs related to currency conversion. It doesn't matter if the transaction was in US dollars. Any transaction processed through an in-country bank uses the country's base currency for settlement, resulting in a currency conversion fee.
For example, you purchase shoes in Germany, costing 200 Euros which is 227.426 US dollars. The transaction moves from the merchant to the transaction processor to a German bank that settles in Euros. Depending on the percentage, those shoes cost between $230.00 and $234.00. That's an added $3.00 to $7.00 for a pair of shoes.
If you use your card for hotel stays, food, transportation, and purchases, those foreign transaction fees can add up. Five nights at a 200-euro a day hotel adds $15.00 to $35.00 to your bill. With a few purchases and three meals a day, your week's stay suddenly costs at least $100.00 more than planned. With DoNotPay, you can get your US Bank foreign transaction fees waived.
How Much Are US Bank's Foreign Transaction Fees?
US Bank charges different transaction fees depending on the credit card being used. Higher-value cards such as the following do not receive a fee:
- U.S. Bank Altitude® Go Visa Signature® Card.
- U.S. Bank Altitude Reserve Visa Infinite® Card
- U.S. Bank Altitude® Connect Visa Signature® Card
- U.S. Bank FlexPerks® Gold American Express® Card
However, an ATM withdrawal fee is assessed regardless of the credit card being used.
Three US Bank credit cards impose a 3% fee. These include the following:
- U.S. Bank Cash+™ Visa Signature® Card
- U.S. Bank Visa® Platinum Card
- U.S. Bank Secured Visa® Card
What Do Other Banks Charge?
Most financial institutions offer credit cards without foreign transaction fees. However, individuals must meet monetary requirements. For cardholders that do not qualify for no-fee cards, their fees range from $0.8% to 3.2%. Other financial institutions' foreign transaction fees include:
|Financial Institution||Purchases Fees||ATM Withdrawal Fees|
|Bank5||$0.8% to 1%||$0.8% to 1%|
|BB&T||3%||$5.00 plus 3%|
|Citizens Bank||3%||$3.00 plus 3%|
|Fifth Third Bank||3.2%||$5.00 plus 3.2%|
How To Avoid Foreign Transaction Fees
If you can't qualify for a zero transaction fee for purchases or cash withdrawals, you can avoid foreign transaction fees by:
- Exchanging US dollars for the local currency before traveling.
- Exchanging US dollars at a local financial institution once you've arrived.
Traveling with cash does pose risks. Plan your travel to minimize the amount of currency you carry at any time. Avoid currency exchange stations at airports and other public locations. Instead, go to a local bank's currency exchange department. If you have a plan, you can avoid most foreign transaction fees.
How To Get Foreign Transaction Fees Waived
If you want US Bank to waive foreign transaction fees, you must contact customer service or talk to your local branch manager. Most branch managers have the ability to waive bank fees, so it may be worthwhile to make an appointment to discuss waiving fees. If you do not have a relationship with a local branch or are uncomfortable speaking with a branch manager, you can contact the bank-wide customer service department.
Customer service can document your request and forward it to the appropriate individual within the bank. Few customer service agents have the ability to override foreign transaction fees so plan on it taking a few conversations to have the fees removed. Alternatively, you can use DoNotPay's online services to make the requests for you.
How To Get Foreign Transaction Fees Waived With DoNotPay
If you want to Get US Bank Fees Waived but don't know where to start, DoNotPay has you covered with the four easy steps:
- Open the DoNotPay Fight Bank Fees product.
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
Click Submit and your work is done. DoNotPay will make the request on your behalf.
What Other Fees Can DoNotPay Help Waive?
Foreign transaction fees are not the only bank fees that DoNotPay can help waive, and US Bank is not the only financial institution that DoNotPay can work with. DoNotPay can help with:
- Bank of America overdraft fees
- Bank of America ATM fees
- PayPal transfer fees
- Chase overdraft fees
- TD (Toronto Dominion) Bank overdraft fees
- Citizens Bank overdraft fees
- Wells Fargo overdraft fees
- Fifth Third overdraft fees
DoNot Pay can even help you find banks without overdraft fees and those that do not charge overdraft fees on non-banking days. If you want a fast and secure way to get banking fees waived, look to DoNotPay's online services.