These are the best bank account features for travelers

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Traveling can be an exciting and enriching experience, but it also comes with its share of challenges, especially when it comes to the financial aspect of your trip. You want to ensure you’re not wasting funds on fees, saving money where you can and keeping your money safe while traveling.

Whether you’re a frequent flyer or planning your first overseas trip, the right bank account features can make a world of difference to your travel experience. From wide ATM access and no foreign transaction fees to earning rewards for travel, here are some of the best bank account features to look out for if you’re a traveler.

Best bank account features for travelers

Wide ATM access, no fees and ATM reimbursements

Credit cards are often preferred by travelers over debit cards in circumstances where the credit card offers zero-liability protection, quick ability to dispute charges and other consumer protections. However, if you prefer to use a debit card and utilize ATMs, you’ll want to ensure access and minimal fees.

Whether you’re traveling domestically or internationally, the last thing you want to worry about is finding an ATM that accepts your debit card. Banks with wide international ATM access can take that worry off your plate. Certain banks offer free ATM access worldwide, with some even reimbursing any ATM fees you might incur.

Even once you’ve found an ATM that will accept your debit card, you’ll want to temper the amount you’re paying in ATM fees, especially when you’re traveling internationally. The average ATM fee is $4.77, according to Bankrate’s 2024 Checking Account Survey.

Banks like Betterment, Charles Schwab, Capital One, Alliant Credit Union and USAA are star performers when it comes to minimizing the costs associated with ATM usage. These financial institutions either don’t charge ATM fees or reimburse you for any fees incurred during your transaction up to certain amounts, making them an ideal choice for travelers.

No foreign transaction fees on debit card purchases

A foreign transaction fee is a surcharge on your credit or debit card when you complete a transaction in a currency other than the U.S. dollar, or when you make a purchase that passes through a foreign bank. As with ATM fees, shelling out on these surcharges more than necessary can make your trip more expensive. Typically, a foreign transaction fee ranges from 1 to 3 percent of a purchase. While it may seem like a small percentage, this can quickly add up on your trip and end up costing you more than you might think.

Certain banks offer debit cards that don’t charge foreign transaction fees under certain circumstances, including Betterment, Charles Schwab, Capital One and Discover Bank. This feature is incredibly beneficial for travelers, as it means you can make purchases abroad without worrying about extra charges.

Free international and domestic wire transfers

If you need to quickly send or receive money while traveling, you may consider doing a wire transfer. Free wire transfers can save you a significant amount of money, especially when you consider that traditional wire transfers can come with fees costing up to $50 per transaction. Banks like Citibank, Chase and CIT Bank offer free international and/or domestic wire transfers under certain conditions, offering significant cost savings and the convenience of quickly and securely moving funds between accounts.

Foreign currency exchange at a good rate

Finding a good foreign currency exchange rate is crucial as it directly impacts the cost of goods and services purchased abroad. A favorable exchange rate means you get more foreign currency for your money, making your expenses lower when traveling or shopping internationally. Therefore, getting a good exchange rate can lead to significant savings and better financial outcomes for travelers.

Travelers looking for good rates on foreign currency exchange should consider local banks, credit unions and major banks like Chase and Bank of America. These institutions often offer the best rates and the lowest fees, with the added convenience of having ATMs overseas, and even options to conduct transactions online or have the currency mailed to you.

Rewards for travel

When it comes to earning points, miles and cash back for travel, credit cards are perhaps the best known financial product. But there are some checking and savings accounts that earn these perks, too. So, if you plan on using your debit card to pay for flights, dining or lodging, finding an account with perks that puts your spending to use is important. These rewards can help offset your travel expenses, making your next trip even more affordable.

Some checking accounts offering points, miles and cash back for travel include Discover, Quontic Bank and American Express.

Great customer support, easy online banking and intuitive mobile apps

Having accessible, responsive customer service is crucial when you’re traveling, especially if you encounter any issues with your account. Of note, banks and credit unions with 24/7 customer support, online chat and toll-free service numbers are immensely helpful.

Some banks that offer 24/7 customer support include Ally, Discover and American Express.

In addition to good customer support, having an easily accessible online banking platform or mobile app to check your accounts on the go is a must for any traveler. In particular, mobile apps that send alerts to your phone for suspected fraud and low balances can be immensely helpful.

Alerts for suspected fraud in particular are essential, especially when traveling internationally, as folks with bad intentions don’t necessarily need your physical card to commit fraud.

“I received an alert from Chase that someone had tried to use my credit card while I was on a trip,” said Karen Bennett, a senior writer at Bankrate. “My credit card was still safely tucked in my wallet, but the person attempted to charge several thousand dollars at a resort that was hours away from where I was actually vacationing. I was grateful their fraud protection prevented the charge from going through, and Chase canceled that card and sent me a new one.”

Other features that could be helpful include the ability to easily lock and unlock your debit card in the event you lose it, quickly dispute charges and being able to easily notify your bank of upcoming travel plans.

When looking for a bank or credit union with good customer support and easy online banking, you may benefit from checking various J.D. Power studies that outline customer satisfaction on these topics among banks. Additionally, user reviews within the Apple App and Google Play stores can help you discern a good mobile app from a bad one.

Easy way to save for your next trip

With the right bank account, saving for your next adventure can be a breeze. Look for accounts with competitive annual percentage yields (APYs), minimal fees and features like automatic savings to help your travel fund grow.

Some bank accounts, like Ally’s savings account, feature a system where you can create multiple savings buckets, depending on your goal. With a feature like this, you can compartmentalize your savings into different categories, including travel, and you may even be able to automate how much money goes into each bucket every pay period.

Bottom Line

Traveling can be a costly endeavor, but don’t let the financial barriers hold you back from exploring the world. With the right bank account features — including little to no ATM or foreign transaction fees — you can save money and have a more enjoyable trip. Additionally, having 24/7 customer support, easy online banking and features like automatic savings can make saving for your next trip even easier.