Increasingly, travel advisers are writing that prepaid cards, sometimes known as “prepaid debit cards” or “prepaid credit cards” are better for traveling than traditional credit cards. Though there is some merit to this claim, we’ve decided to take a closer look at prepaid cards to determine if these cards are all they’re made out to be.
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These fees sound the same, but they are different. An ATM “foreign” fee is paid to the debit card’s issuing bank for using an out-of-network ATM (a “foreign” ATM). These fees vary from bank to bank, but recent surveys show that the national average is about $1.29 per transaction.

An ATM “foreign transaction fee” refers to a fee that is paid to the issuing bank for using ATMs to convert foreign currency — usually while in a foreign country. These fees also vary from bank to bank, but usually range between 1-5% of the total amount being converted.

These fees are not exclusive. It is possible to be charged both a “foreign” fee, a “foreign transaction fee” and even other ATM fees all in the same transaction.

Buying gas with a debit card might seem convenient, but it could lead to higher prices at the pump. Some gas buyers are surprised to learn that when they use their debit card at the gas pump, the price they pay at the pump isn’t the price on the gas meter.
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Want to avoid ATM fees while traveling? Just ask. That’s right, just ask. Some banks will waive out-of-network ATM fees while traveling if you just call and ask them. Even if you’re going to be away from home for several months, some banks will waive the fees both to thank you for being a loyal customer and discourage you from getting a new debit card for your travels.
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Considering making an international purchase on a credit card? There are a few risks you should be aware of first. If you think there’s a chance you might want to return the item and receive a refund on your credit card, you might be surprised to learn that the amount you’ll be refunded will be considerably less than what you initially paid. Why? Credit card companies and merchants don’t refund the international conversion or international transaction fees paid when you made the purchase. In fact, they often charge the fees again, compounding your loss. Here’s a few things you can do to protect yourself:
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There are myriad ways identities can be stolen, and travelers expose themselves to many of them. Using credit cards or doing financial transactions with people you’ve never met in places you’ve never been before carries a certain degree of risk, but one of the biggest liabilities to travelers’ identities are those little pouches they wear around their waists. The typical traveller’s pouch usually contains credit cards, identity cards such as driver’s license or passport, home address and often a social security number. This is a goldmine to an identity thief. It gives them enough information to not only open new accounts but also commandeer existing ones.
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