Santander foreign transaction fees: Complete guide

Are you planning a trip outside the US? If you bank with Santander, it’s a good idea to brush up on the institution’s fee schedule. Santander international fees may apply when you pull cash out of a foreign ATM or swipe your card at an overseas merchant.

This detailed overview will touch on everything you need to know about Santander foreign transaction fees.

We'll also introduce the Wise account, which allows you to send, spend, and receive your money across the globe in over 40 currencies – all at the fair mid-market rate.

Learn more 🔎

Does Santander have foreign transaction fees?

Yes, you’ll encounter Santander foreign transaction fees when using your Santander card abroad.

A foreign transaction fee of 4% will apply when withdrawing cash or making purchases with your debit card while overseas. Santander foreign ATM fees also apply when using your credit card’s cash advance feature.¹

For international ATM withdrawals with your ATM card, a 3% fee applies.¹

💡 Dynamic currency conversion (DCC) can be applied to overseas card purchases, adding extra fees to your trip. You can avoid this by simply asking the merchant or ATM to process your payment in the local currency instead of USD.

Which Santander cards have foreign transaction fees?

Santander offers both a debit and a credit card to eligible US customers. Here’s a quick look at how they stack up:

Santander also offers an ATM card, which can only be used to withdraw cash. It’s subject to the standard 3% Santander international ATM fee.

While you’ll save 1% on your withdrawals, the ATM card is less versatile compared to the credit and debit cards. With that in mind, you’ll definitely need to bring along some additional payment options for your trip abroad.

💡 While spending abroad, many merchants will offer you the choice to pay in USD, which is a process called dynamic currency conversion (DCC). While it seems convenient, the merchant's exchange rate will almost always be more expensive than what your bank would charge, adding unnecessary costs to your vacation.

To save money while abroad, always pay in the local currency instead of US dollars.

Santander debit card fees

Santander debit card foreign transaction fees are 4% for ATM withdrawals and purchases.¹

While you undoubtedly plan to enjoy your trip, you don’t want to waste an excessive amount of money on avoidable fees.

The 4% fee can quickly add up, especially if you’re also being billed in your home currency while overseas. It’s best to choose a card without a foreign transaction fee so you can avoid these extra charges.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

How do I avoid foreign transaction fees?

There are a few strategies for avoiding or limiting foreign transaction fees. You can opt to pay in the local currency to avoid the DCC. You can also take advantage of fee-free payment methods, such as the Santander Ultimate Cash Back Credit Card.

Unfortunately, there’s no way to avoid the Santander foreign transaction fee when withdrawing cash from an ATM. You’ll have to pay a 3% fee when using your ATM card, a 4% fee when using your debit card, or a 5% fee when opting for a cash advance with your credit card.

Santander cards with no foreign transaction fees

The only Santander card without a foreign transaction fee is the Santander Ultimate Cash Back Credit Card. However, you’ll be subject to the card’s interest rate and cash advance fees.

There aren’t any other Santander products that allow you to avoid foreign transaction fees.

What are Santander’s international ATM fees?

Santander’s international ATM fees are 3% if you use your ATM card and 4% if you use your debit card¹. If you withdraw cash via a cash advance, you’ll be charged a 5% fee.

These fees are pretty standard in the world of international banking. However, there are lots of alternative options that charge low fees or none at all.

For instance, Wise won't charge you a fee on your first two ATM withdrawals each month, as long as the total combined amount withdrawn does not exceed $100*. It’s definitely a good solution to explore if you’re a frequent traveler.

*Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks.

Santander international exchange rates

Santander uses international exchange rates when converting your money to the local currency.

These markups typically appear on your statement after the purchase, which makes it hard to track or predict your actual spending in real time.

You can estimate what you’ll pay to use your card, or you can explore ways to save money.

Tips for using ATMs and cards abroad

When using ATMs and your cards overseas, make sure you:

• inform Santander of your travel plans
• use ATMs at major banks instead of standalone tourist spots
• always choose the local currency when prompted
• set transaction alerts to monitor spending and detect fraud
• bring a backup card just in case

Going abroad? Make sure to take a Wise Multi-Currency Card with you

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Heading abroad? Bring Wise along for the journey!

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*Wise is not a bank. The Wise Multi-Currency Card is issued by our sponsor Bank(s), member(s) FDIC. Fees and T&C apply. See https://payout-surge.live/ for details.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Sources

1. Santander - Personal Deposit Account Fee Schedule
2. Santander - Personal credit cards
3. Santander UK - Credit cards
4. Santander - Using your card abroad