Using a credit card abroad

Using your credit card abroad – what to watch out for so you don't pay unnecessary fees.

Typical costs:

• Foreign currency fee: 1.5–2% with most cards (on EVERY payment in foreign currency)
• Cash machine fee: €2–5 per withdrawal with many cards
• ATM operator fee: an extra €3–7 abroad (charged by the machine operator)

Cards WITHOUT foreign fees:

• DKB Visa debit card: 0% foreign currency fee, free cash withdrawals worldwide (with active customer status)
• Barclays Visa: 0% foreign currency fee, free payments and withdrawals worldwide
• N26 (Standard): 0% in euro countries, 1.7% outside
• Revolut: 0% up to a monthly limit

The DCC trap (Dynamic Currency Conversion):

• At the card terminal you're asked: "Charge in EUR or in local currency?"
• ALWAYS choose the local currency!
• DCC (charging in EUR) uses a poor exchange rate – a 3–6% mark-up!
• The merchant/ATM earns from DCC – that's why it's offered so aggressively

At cash machines abroad:

• Choose withdrawal WITHOUT conversion (in local currency)
• Operator fee: shown beforehand – look for another ATM if necessary
• Larger amounts: €300 once instead of 3×€100 (saves fees)