Banking

Top Bank Accounts for Hassle-Free International Travel Banking for June 2024


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If you’re an avid traveler at heart, then your bank account should help make your experiences abroad easier. Depending on what you need more help with — planning or on-site spending — we’ve found options for you.

Best Bank Accounts for International Travel Benefits

Compare the Top Bank Accounts for International Travel

The top bank accounts for international travel help make planning and spending for trips easier. We looked for the accounts that can help you save for travel and top checking accounts that allow you to access your money with ease when you’re on the road and overseas.

Below, you’ll see our top picks for international travel. All of the financial institutions on our list are protected by FDIC or NCUA insurance. Money is safe at a federally insured financial institution. When an institution is federally insured, up to $250,000 per depositor is secure in a bank account.

Best Savings Accounts for International Travel: Ally Savings Account


Best Savings Account for Travel

Ally Savings Account

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.75/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 4.20% Annual Percentage Yield with a $0 minimum account opening requirement


Fees

no monthly service fee


Annual Percentage Yield (APY)

4.20%


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. High APY
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Savings buckets help you save for different goals
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Surprise savings transfers help you save extra money from your checking account
Cons

  • con icon Two crossed lines that form an ‘X’. No physical branch locations
  • con icon Two crossed lines that form an ‘X’. No way to deposit cash


Product Details

  • Create separate savings buckets in a savings account
  • Link to your Ally checking account and enroll in surprise savings transfers to have extra money transferred to savings three times per week
  • Interest compounded daily, paid monthly
  • FDIC insured

The Ally High Yield Savings Account provides easy tools to set savings goals for your next trip, and you’ll earn interest without having to take on any risk. 

You can also set up a checking account through Ally. When you need access to your savings, just transfer money from the savings account to the checking account through the online portal, and you’ll be able to spend the money almost instantly.

Ally also offers an easy-to-use mobile app and 24/7 customer support, making it simple to access your account while you’re on the road.

You won’t be able to deposit cash directly into your bank account. Instead, you’ll have to transfer money from another bank account. 

Ally Savings Account Review

Bask Bank Mileage Savings Account


BEST SAVINGS ACCOUNT FOR TRAVEL

Bask Bank Mileage Savings Account

Bask Bank Bask Bank Mileage Savings Account

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 20,000 AAdvantage® bonus miles for new Bask Mileage Savings Account customers who open and fund their account within 15 business days from account opening and maintain a minimum daily balance of $50,000 for 180 consecutive days out of the first 210 days (open account by August 31, 2024)


Fees

no monthly service fee


Annual Percentage Yield (APY)

None


Minimum Opening Deposit

$0

20,000 AAdvantage® bonus miles

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn American Airlines AAdvantages miles
Cons

  • con icon Two crossed lines that form an ‘X’. May not be easy to deposit cash


Product Details

  • Earn 20,000 AAdvantage® bonus miles.
  • To qualify for this offer, you must be a first time Bask Mileage Savings Account customer, open a Bask Mileage Savings Account between June 1, 2024 and August 31, 2024, fund your Bask Mileage Savings Account within 15 business days following the initial account opening and maintain a minimum daily account balance of $50,000 for 180 consecutive days out of the first 210 days following the initial account opening.
  • Earn 2.5 American Airlines AAdvantage miles for every $1 saved annually on a Bask Bank Mileage Savings Account
  • Must provide your AAdvantage account number to receive AAdvantages miles
  • AAdvantage miles earned through the Bask Mileage Savings Account can’t be used toward boosting your American Airlines elite status
  • Miles awarded monthly
  • Deposits FDIC insured through Texas Capital Bank

You might find the Bask Bank Mileage Savings Account appealing if you are a frequent American Airlines flyer. This savings account lets you earn earn 2.5 American Airlines AAdvantage miles for every $1 saved annually on a Bask Bank Mileage Savings Account. You can redeem miles for booking flights or hotels, upgrading flights, renting transportation, or planning vacation activities.

Bask Bank is also offering a savings account bonus for new customers: earn 20,000 AAdvantage® bonus miles for new Bask Mileage Savings Account customers who open and fund their account within 15 business days from account opening and maintain a minimum daily balance of $50,000 for 180 consecutive days out of the first 210 days (open account by August 31, 2024)

AAdvantage miles earned through the Bask Bank Mileage Savings Account will not go toward boosting your AAdvantage status.

Bask Bank also doesn’t have a checking account, ATM cards, or debit cards, so you’ll have limited access to your account. You’ll need to link an external bank account and initiate a bank transfer to deposit or withdraw money.

Bask Bank Review

Best Checking Accounts for International Travel: Capital One 360 Checking


Best Checking Account for Travel

Capital One 360 Checking

Capital One Capital One 360 Checking

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.5/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

No minimums, no fees, no worries.


Fees

no monthly service fee


Annual Percentage Yield (APY)

See website for details


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn interest on all account balances
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit or minimum account balance
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fee
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No foreign transaction fee
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Range of overdraft protection options
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Processes direct deposits up to 2 days early
Cons

  • con icon Two crossed lines that form an ‘X’. Doesn’t reimburse out-of-network ATM fees
  • con icon Two crossed lines that form an ‘X’. Limited access to customer service by phone


Product Details

  • Over 70,000 free ATMs nationwide
  • Branches in NY, LA, TX, MD, VA, NJ, and Washington, DC
  • Interest compounded daily, paid monthly
  • FDIC insured

Capital One 360 Checking might be a solid choice if you’re most comfortable with a well-known retail bank and want no-fee cash withdrawals at home and in select countries abroad. 

You can withdraw up to $1,000 a day at any ATM worldwide using your MasterCard and Capital One won’t charge a fee, though the ATM operator may. The bank ranks No. 1 on J.D. Power’s US National Banking Satisfaction Study, and it made Business Insider’s list of the best checking accounts.

Capital One also offers a solid high-yield savings account, which is a good choice if you want to keep your savings at the same bank as your checking. 

If you travel to Europe, Asia, or any other place where Capital One and AllPoint don’t have ATMs, you may have to pay third-party ATM operator fees to take cash out (Capital One will never charge you an additional fee). 

As for branch access, the bank only operates about 280 branches in seven US states, though Capital One Cafés are in some big cities around the US.

Capital One 360 Review

Schwab Bank High Yield Investor Checking® Account


BEST CHECKING ACCOUNT FOR TRAVEL

Schwab Bank High Yield Investor Checking® Account

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.75/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn 0.45% Annual Percentage Yield (APY). $0 minimum deposit. FDIC Insured.


Fees

no monthly service fee


Annual Percentage Yield (APY)

0.45%


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum account balance
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Unlimited out-of-network ATM reimbursements
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No foreign transaction fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection
Cons

  • con icon Two crossed lines that form an ‘X’. No way to deposit cash


Product Details

  • 24/7 live online chat
  • When you open a checking account, you automatically open a Charles Schwab brokerage account, too
  • No ATM network, but unlimited ATM fee reimbursements
  • Interest compounded daily, paid monthly
  • FDIC insured

Charles Schwab is an investment platform, but it also has banking products. The Schwab Bank High Yield Investor Checking® Account is a great choice if you’d like a fee-free international spending bank account. It notably offers unlimited refunds for ATM fees worldwide, and it doesn’t charge foreign transaction fees. 

You must open a brokerage account with Charles Schwab before opening a checking account, though.

Charles Schwab Bank Review

Best All-in-One Accounts for International Travel: SoFi Checking and Savings


Best All-in-One Account for Travel

SoFi Checking and Savings

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.25/5

Icon of check mark inside a promo stamp It indicates a confirmed selection.

Perks

Earn up to a $300 bonus with qualifying direct deposits for eligible customers through 12/31/24. Earn up to 4.60% APY on savings balances (including Vaults) with direct deposit


Fees

no monthly service fee


Annual Percentage Yield (APY)

up to 4.60%


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. FDIC insured for $2 million
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rate
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn a higher interest rate with qualifying activities
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Up to $300 bonus with qualifying direct deposit (terms apply)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No-fee overdraft coverage if you overdraw up to $50
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Savings tools
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Early direct deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Joint account available
Cons

  • con icon Two crossed lines that form an ‘X’. Declined purchase if you overdraw by more than $50
  • con icon Two crossed lines that form an ‘X’. Doesn’t reimburse out-of-network ATM providers’ fees
  • con icon Two crossed lines that form an ‘X’. May deposit cash at Green Dot locations but there’s a $4.95 fee


Product Details

  • FDIC insured for $2 million
  • Free access to 50,000+ Allpoint ATMs worldwide
  • Hybrid checking/savings account
  • Earn 4.60% APY on savings balances (Vaults included) and 0.50% APY on checking balances if you set up direct deposit or deposit minimum $5,000 per month
  • Earn 1.20% APY on SoFi Checking and Savings if you don’t have qualifying activities
  • Earn up to $300 cash bonus available through December 31, 2024; receive a $50 bonus if you make a direct deposit between $1,000 and $4,999 in the first 30 days of opening an account; receive a $300 bonus if you make a direct deposit of $5,000 or more in the first 30 days of opening an account
  • Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation
  • $4.95 fee each time you deposit cash at a Green Dot location
  • To get no-fee overdraft coverage you must have at least $1,000 in direct deposits

SoFi Checking and Savings offers the best of both worlds. It’s a hybrid savings/checking account with a competitive interest rate and a MasterCard debit card for easy access to your cash. 

SoFi is part of the Allpoint ATM network, so you have free access to 50,000 ATMs worldwide, and SoFi doesn’t charge a foreign transaction fee when you make a purchase with your debit card abroad.

Again, SoFi is completely online — you’ll need to call customer service when you want help with your account rather than walking into a physical location.

While SoFi doesn’t charge any foreign transaction fees when you withdraw cash at an international bank or ATM, MasterCard will charge 0.20%, and SoFi won’t reimburse you.

SoFi Checking and Savings Review

Revolut Account


BEST ALL-IN-ONE ACCOUNT FOR TRAVEL

Revolut Account

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4/5


Fees

no monthly service fees on Standard plan


Annual Percentage Yield (APY)

Standard plan: up to 3.25% APY, Premium plan: up to 4.25% APY, Metal plan: up to 4.25% APY


Minimum Opening Deposit

$0

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees on Standard plan
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Prepaid debit card included (specific card depends on monthly plan)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Early direct deposit
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Spend abroad in over 140 currencies
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Budgeting features
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Withdraw up to $1,200 from out-of-network ATMs on Metal plan with no fair usage fees
Cons

  • con icon Two crossed lines that form an ‘X’. Can’t overdraw from account
  • con icon Two crossed lines that form an ‘X’. 2% fee of ATM withdrawal on out-of-network ATM fees if you exceed the limit
  • con icon Two crossed lines that form an ‘X’. $0.30 to $6 international money transfer fee if you exceed limit


Product Details

  • Access to 55,000 free ATMs through the Allpoint ATM network
  • Withdraw up to $1,200 from out-of-network ATMs on Metal plan
  • Spend in more than 140 currencies
  • Additional international wire transfer fees will depend on the transfer amount and whether there’s a currency exchange
  • Banking services are provided by Metropolitan Commercial Bank, Member FDIC

You might like the Revolut Account if you’re looking for an alternative to traditional banking.

Revolut is a British fintech company with an international finance and investing app. You can open accounts from anywhere in the US. 

The Revolut Account is a prepaid debit card linked to a bank account. You can easily spend money internationally in over 150 types of currency. The account also allows you to make one fee-free international or domestic wire transfer per month with the Standard plan, three with the Premium plan, and five with the Metal plan.

The account also has budgeting features that let you round up prepaid debit card purchases or set up individual savings goals through Vaults. The Revolut Account and Savings Vault are FDIC-insured by Metropolitan Commercial Bank and Sutton Bank. 

Revolut has three plans: Standard (Free), Premium ($9.99 per month), or Metal ($16.99 per month). Access to certain app features will depend on your monthly plan.

Revolut Review

Introduction to Banking for International Travel

When you’re traveling abroad, bear in mind many financial institutions have fees for using a debit card internationally.

For example, if you use an ATM provider to withdraw money that isn’t in your network, you may have to pay out-of-network ATM fees from the provider and your financial institution. 

Many banks also have foreign transaction fees. A foreign transaction fee is a debit or credit card charge that can happen when you buy something internationally and it needs to be processed through a foreign financial institution. 

There are many financial institutions that can help you avoid common international bank fees, though. 

Key Features of Ideal Banks for International Travel

The right bank can make saving for travel goals easier. It can also help you avoid common bank fees, like out-of-network ATM and foreign transaction fees. Below, we’ve highlighted key features among the top banks for multi-country travel.

Competitive Savings Rates

One key feature to look for in a bank is a competitive savings rate. High-yield savings accounts, in particular, can be strong banking options because they offer better rates than traditional savings accounts. These bank accounts might also be a good choice if you want to set savings goals for specific travel trips. Money in a high-yield savings account can deposited at any time, so you can contribute to a travel goal in stages. If you open a high-yield savings account at an online bank, you also usually won’t have to worry about dealing with monthly service fees.

Exchange Rates

If you want to have cash on hand during a trip, it may be beneficial to bank with a financial institution or platform that offers straightforward foreign exchange services. Banking institutions usually offer better exchange rates than airport exchange services or on-site travel spots.

Low Foreign Transaction Fees

If you plan on using a debit card or credit card frequently, make sure to look for a bank that has low foreign transaction fees. That way, you won’t have to worry about fees piling up when you use your card to buy things abroad. 

Some financial institutions on our list, like SoFi, do not charge foreign transaction fees.

Wide Global ATM Network Accessibility

If you want to use an ATM abroad, the best option is to find a national bank with a global ATM network or one that provides reimbursements for out-of-network ATM fees. Charles Schwab, for example, offers unlimited worldwide ATM fee reimbursements.

Additional Services and Tips for International Banking

If you’re planning on traveling abroad soon, it’s best to be prepared beforehand so you can avoid unnecessary stress. Sometimes, credit or debit cards may not work if you don’t give your bank notice that you’re traveling. This is done as a measure to protect you against fraudulent activity. To avoid having your card declined internationally, make sure to call your financial institution before traveling so you can make sure it works during the time you’re abroad.

It’s also helpful to have cash on hand when traveling in case you need it for an emergency situation. Experts recommend getting foreign currency before you begin travel because airports and on-site currency exchange locations tend to involve more costly service fees and unsatisfactory exchange rates.

Bank Trustworthiness and BBB Ratings

We review the ethics of each company so you can see if a specific financial institution aligns with your values. 

We also include the settlement history of the last 3 years so you’re aware of any recent public controversies involving the bank.

The Better Business Bureau assesses companies based on responses to customer complaints, honesty in advertising, and transparency about business practices. Here are the BBB grades for our favorite travel accounts:

Revolut has an NR (“No Rating) grade from the BBB because the company is in the process of responding to previously closed complaints.

Bask Bank received a B grade from the BBB because of its volume of customer complaints. However, its parent company, Texas Capital Bank, has an A+ rating from the BBB. 

A great BBB score doesn’t guarantee your relationship with a company will be perfect. You’ll also want to speak with current customers or read online customer reviews.

Capital One is the only bank on our list that has been involved in a recent public controversy. Capital One used to have an account called 360 Savings. In 2019, the bank launched the new 360 Performance Savings Account, which paid a much a higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to manually open a new 360 Performance Savings Account to earn the higher rate. So some customers have been earning a significantly lower savings rate for years.

In the lawsuit, the plaintiffs’ lawyers allege that Capital One didn’t inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However, Capital One wants this case dismissed because it claims people had every opportunity to learn these facts on their own. This case is still ongoing.

Travel banking FAQs

Charles Schwab is our top pick for international ATM access. It offers unlimited refunds for ATM fees worldwide.

To minimize fees when using a bank card abroad, you want to limit making ATM withdrawals unless you find an ATM that’s in your network. Some debit cards also have foreign transaction fees, so it’s best to use cash or one of the best credit cards with no foreign transaction fees.

Yes. Many banks and credit unions pay good rates to exchange foreign currency. Most financial institutions will require you to have a bank account with them in order to exchange currency, though.

Yes. Some banks offer travel insurance if you get a credit card with features like travel accident insurance and trip delay reimbursements.

Yes. You should call your bank before traveling so you’re well prepared. If you forget to contact your bank, your debit card may be denied when you make purchases to protect you from potential fraudulent activity.

Why You Should Trust Us: Our Expert Panel for the Best Banks for International Travel

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best accounts for your needs.


PFI Banking Expert Panel (updated Mar 2024); (from left to right) Tania Brown; Roger Ma; Sophia Acevedo; Mykail James

BI



Here’s what they had to say about banking for travel. (Some text may be lightly edited for clarity.)

How can someone determine whether a bank is the right fit for them?

Tania Brown, certified financial planner and vice president of coaching strategy at OfColor:

“Obviously, you want to make sure it’s FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you’re okay online. Do you write checks? Do you not write checks? So it’s thinking through how your experience with it is going to be before you make that decision.”

Sophia Acevedo, banking editor, Business Insider

“I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I’m searching for an interest-earning bank account I’ll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account.”

What should someone look for in an online bank?

Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”:

“How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?”

Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

“When it comes to online banks, you want to be a little bit more strict about what type of interest rates they’re providing. That’s the biggest thing, because online banks are supposed to have the higher interest rate because they don’t have the overhead of the brick-and-mortar. You want to make sure that it’s well above the national average.

“What types of securities do they provide? Do they have two-factor identification? If it’s an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank.”

What should someone look for in a bank account if they travel frequently?

Sophia Acevedo:

“You’ll want to be mindful of bank account limits and fees. You might be charged fees if you use an ATM from another bank. Banks and credit unions also have limits on how much you can withdraw from your ATM each day. When you’re looking for a bank account, see if your bank provides refunds for out-of-network ATMs and what the ATM withdrawal limits are.”

Methodology: How Did We Choose the Best Bank Accounts for International Travel?

At Business Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of savings accounts and checking accounts so you don’t have to. You can read more about how we review and rate product on our editorial standards page.

We understand that “best” is often subjective, however, so in addition to highlighting the clear benefits of an account — a high APY, for example — we outline the limitations, too. 

Generally, bank accounts are designated either savings or checking. When you’re saving up for a big trip, a high-yield savings account is appropriate because you’ll be able to earn some interest on your money, but still be able to access it when you need to.

A checking account may be more appropriate to use while traveling, as you’ll be provided with a debit card to use at shops, restaurants, and ATMs. You may also consider using a credit card, which could provide rewards and other travel-related benefits.

That said, the best bank accounts to use for international travel expenses should be appropriate for your everyday life too, with low fees, good earning potential, and easy access. 

See our full ratings methodology for checking, business checking, savings, and money market accounts »





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