SHARE TRAVEL NEWS: How To Avoid Bank Fees While Traveling

Avoiding bank fees while traveling while traveling is something that everyone should learn how to do. Avoiding credit card fees, currency exchange fees, and foreign transaction fees while traveling overseas is important in order to save money for more trips and adventures.

In this travel tips post we are going to cover the main fees charged by banking and credit card institutions. The fees can be broken down into three types; ATM withdrawal fees, foreign conversion fees (which can also be tied into credit card fees), and exchange rate fees.

Its quite easy to avoid paying bank fees while traveling once we understand the structure of how banks charge customers for service.

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Choosing The Right Bank
One of the first things to understand is that large public banks are in business to make a profit. Smaller banks such as credit unions generally have smaller fees but they also provide less services. It is highly recommend to look at the fee structure with your bank and also consider opening an account at a smaller bank or credit union.

Credit unions are normally “not for profit” and charge much lower fees for doing business. This means that they charge less fees while traveling. At the same time large banking institutions also have their benefits. The largest banks in the world have created partnerships with each other in order to provide no fee ATM withdrawals both domestically and internationally.

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