Traveling abroad or making purchases in foreign currencies with a Wells Fargo credit card can be convenient, but understanding the associated fees is crucial for managing costs effectively.
Here is a friendly guide to the Wells Fargo card international fees in 2024, covering everything from foreign transaction fees to ATM withdrawals, and tips on how to minimize these costs.
Foreign Transaction Fees
Most Wells Fargo credit cards charge a foreign transaction fee of 3% of each transaction made in a foreign currency. This fee applies to purchases and cash advances conducted outside the United States. For example, if you spend $100 in Europe, you will be charged an additional $3.
However, some premium Wells Fargo cards may waive these fees, so be sure to check the terms and conditions of your specific card.
Currency Conversion
When using your Wells Fargo card abroad, your transactions will be converted to U.S. dollars. The card network (Visa or Mastercard) typically handles the conversion, and a small fee is included in the foreign transaction fee.
The exchange rate used for the conversion is generally close to the mid-market rate, but the addition of the foreign transaction fee can make the effective rate less favorable.
ATM Withdrawals
Using your Wells Fargo card at foreign ATMs incurs additional fees. These include a Wells Fargo fee for the transaction, which varies by card, an ATM operator fee that can vary widely, and a currency conversion fee.
Strategies to Minimize ATM Fees:
- Limit Withdrawals: Withdraw larger amounts less frequently to reduce the number of fees incurred.
- Partner ATMs: Use ATMs that are part of a global ATM alliance to reduce or waive certain fees.
Best Wells Fargo Cards for International Use
The Wells Fargo Propel American Express® Card is particularly travel-friendly as it offers no foreign transaction fees, making it an excellent choice for frequent travelers. Additionally, it provides robust travel rewards and benefits.
The Wells Fargo Active Cash℠ Card does have foreign transaction fees, but its unlimited 2% cash rewards on purchases can help offset some of the costs associated with international travel.
Additional Considerations
Wells Fargo offers various security features for international travel, including fraud protection and the ability to set travel notifications via the mobile app or online banking. This helps ensure your card is not mistakenly flagged for suspicious activity when used abroad.
Wells Fargo also provides 24/7 customer support, which can be invaluable if you encounter issues while traveling internationally. Having access to assistance can help resolve problems quickly, whether it is a lost card or an unexpected charge.
Apply the card, here.
Tips for Using Wells Fargo Cards Internationally
Notify Wells Fargo of Travel Plans: Informing Wells Fargo of your travel plans helps prevent your card from being flagged for unusual activity. This can be done easily through the Wells Fargo mobile app or by contacting customer service.
Use Credit Over Debit: Credit cards generally offer better fraud protection than debit cards. When traveling, using a credit card can provide additional security and benefits.
Monitor Transactions: Regularly check your account for any unauthorized transactions. Wells Fargo’s mobile app allows you to monitor your spending in real-time.
Understand Your Card’s Benefits: Familiarize yourself with the travel benefits and protections offered by your specific Wells Fargo card, such as travel insurance, emergency assistance, and rental car coverage.
Conclusion
Understanding the international fees associated with Wells Fargo credit cards is crucial for managing expenses while traveling abroad or making foreign transactions. By selecting the right card, planning your usage, and utilizing the available security features, you can minimize costs and enjoy a more seamless international travel experience.
People May Ask
What is the foreign transaction fee for Wells Fargo credit cards?
Most Wells Fargo credit cards charge a 3% foreign transaction fee on each transaction made in a foreign currency.
Do all Wells Fargo cards have foreign transaction fees?
No, some Wells Fargo cards, like the Wells Fargo Propel American Express® card, do not have foreign transaction fees.
What fees apply when using a Wells Fargo card at a foreign ATM?
You may incur a Wells Fargo ATM fee, a fee from the ATM operator, and a currency conversion fee.
How can I avoid high international fees with my Wells Fargo card?
Consider using cards with no foreign transaction fees, limit ATM withdrawals, and use global ATM alliance partners.
Should I notify Wells Fargo before traveling abroad?
Yes, notifying Wells Fargo of your travel plans helps prevent your card from being flagged for unusual activity and ensures smooth transactions.
For more detailed information, visit Wells Fargo’s official website or consult your card’s terms and conditions.
