![]() However, in more recent years, credit card networks started tacking on fees to any type of transaction that passes through a foreign bank. ![]() Just a couple decades ago, foreign transactions were clearly characterized as purchases or transfers completed on foreign soil. ![]() What exactly constitutes a foreign transaction? The answer might be a little trickier than you think. What types of purchases incur a foreign transaction fee? JP Morgan Chase, for example, charges an additional 2% to international purchases which can hike your total foreign transaction fee to 3% or more. Visa and Mastercard typically charge 1% on international transactions whereas American Express imposes its own foreign transaction fee of 2.7%.Īdditionally, banks typically add their own fee on top of the fee your card issuer imposes. The first part of the foreign transaction fee is the network or card issuer fee.
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