franceinfo conso. The bank card may cost in fees abroad

1,000 euros spent on a bank card outside the euro zone incurs an average of 40 euros in costs. Concretely, if you leave this summer for the United Kingdom, the United States or Morocco for example, you will be taxed each time you draw your bank card.

To give you an idea, at the distributor, a withdrawal is often charged 3 euros in addition to a percentage of the amount withdrawn, around two or 3%. Therefore, take the lead. Before leaving, ask your bank. First on the rates that will be applied to you, especially since these also depend on the type of package you have subscribed to or the card you have (Basic or Gold for example). Also ask her if she offers an option “trip abroad“ which allows you to benefit from withdrawals and payments free of charge, against a lump sum. Or if it has signed an agreement with a bank in the country where you are going, which should therefore be preferred for withdrawals.

However, there are still some basic principles for using your card abroad: always prefer payment to withdrawal from the distributor. Because the withdrawal is systematically accompanied by a fixed tax, in addition to the percentage tax. Then, on the payment terminal, pay in local currency, even if you are suggested to pay in euros. The merchant’s bank conversion will always be less advantageous than your bank’s conversion. Finally, if you still have to withdraw from the ATM, opt for one large withdrawal rather than several small ones, so you will save on fixed fees per withdrawal.

Should you notify your bank before leaving? You don’t have to, but it’s better. This verifies that your bank card is working and that your spending limits are sufficient. And also to prepare your bank. Because it happens that banks, out of an excess of caution, block the payment of large amounts abroad (for example a hotel bill). And in this case, unblocking the situation from abroad is not always easy.