Most Bank of America credit cards charge 3% on foreign purchases, but a few do not

Bank of America charges a 3% foreign transaction fee on most of its credit cards when you use them outside the United States. This fee applies to any purchase made in a foreign currency or processed through a non-U.S. payment network, even if you're a U.S. citizen traveling abroad. The fee is added to your statement after the transaction posts.

However, Bank of America does offer two cards with no foreign transaction fees: the Bank of America Premium Rewards card and the Bank of America Travel Rewards card. Both are designed for people who travel internationally or make frequent purchases from foreign merchants online. If you don't hold one of these cards, you will pay the 3% fee on every foreign transaction.

The 3% fee is standard across the industry, but it compounds quickly on a trip. A $1,000 in purchases abroad costs you an extra $30. Understanding which card you hold and what it charges is the first step to avoiding surprise fees on your statement.

Key Takeaways

  • Bank of America charges 3% on foreign transactions with most of its credit cards, applied automatically when the transaction posts.
  • The Premium Rewards and Travel Rewards cards have no foreign transaction fees, making them the only Bank of America options for international travel without this cost.
  • The 3% fee applies to any purchase made outside the U.S., whether in a foreign currency or processed through a non-U.S. network.
  • You can request a card switch before traveling if you currently hold a card with the fee and want to avoid it on an upcoming trip.

How the 3% foreign transaction fee works

When you swipe a Bank of America card abroad, the merchant's bank converts the transaction to U.S. dollars and sends it through the payment network. Bank of America then adds 3% of the converted amount as a foreign transaction fee. This happens automatically — you don't opt in, and the fee appears on your statement as a separate line item labeled "foreign transaction fee" or bundled into the transaction amount itself.

The fee is calculated on the U.S. dollar amount after conversion, not on the original foreign currency amount. If you spend 100 euros and the conversion rate is 1.10 USD per euro, the transaction is $110, and the fee is $3.30. You see both the purchase and the fee on your statement.

This fee applies whether you're in a restaurant in London, buying goods from a Canadian website, or using an ATM in Mexico. Any transaction processed outside the U.S. payment system triggers it. The only exception is if you hold one of the two Bank of America cards that explicitly waive this fee.

Which Bank of America cards have no foreign transaction fees

The Bank of America Premium Rewards card and the Bank of America Travel Rewards card both waive the 3% foreign transaction fee. These are the only two Bank of America credit cards that do so. Both cards carry an annual fee — the Premium Rewards card is $95 per year, and the Travel Rewards card is $0 — so the choice between them depends on whether the Premium Rewards benefits justify its cost for your spending.

The Premium Rewards card offers higher cash back rates on travel and dining purchases, which can offset the annual fee if you spend heavily in those categories. The Travel Rewards card offers a flat 1.5% cash back on all purchases with no annual fee, making it the simpler choice for people who want no foreign fees without paying for premium benefits.

If you already hold a different Bank of America card and are planning a trip abroad, you can request a card switch before you leave. Bank of America allows you to request a replacement card or a new card in the same process within a short window. Call the number on the back of your current card and ask whether you can switch to the Travel Rewards card temporarily, or explore for it online if you want to keep both.

Comparing Bank of America to other issuers on foreign fees

Bank of America's 3% foreign transaction fee is standard among major U.S. issuers. Chase, Citi, and Capital One all charge 3% on most of their cards. However, many issuers offer premium cards with no foreign fees — Chase Sapphire Reserve, Citi Prestige, and Capital One Venture X all waive the fee, though they charge annual fees ranging from $95 to $550.

Some issuers also offer no-annual-fee cards without foreign fees. American Express has several cards in this category, though American Express is not accepted everywhere abroad. If you travel frequently and want to avoid the 3% fee without paying an annual fee, comparing cards across issuers may reveal better options than Bank of America's Travel Rewards card, depending on your spending patterns and where you travel.

The choice between staying with Bank of America and switching issuers depends on whether you value Bank of America's other benefits, your existing relationship with the bank, and how often you travel. If foreign travel is rare, the 3% fee may not justify switching. If you travel several times a year, the fee adds up quickly and a no-fee card becomes worthwhile.

What to do if you're charged a foreign transaction fee you didn't expect

If you see a foreign transaction fee on your statement and you believe it was charged in error, contact Bank of America's customer service at the number on the back of your card. Explain the transaction and ask whether the fee can be reversed. Bank of America will not reverse the fee as a matter of policy — it is a disclosed charge, not an error — but disputing the underlying transaction is possible if the merchant charged you incorrectly or you did not authorize the purchase.

If you plan to travel again and want to avoid the fee going forward, request a switch to the Travel Rewards card before your next trip. The card can be issued quickly, sometimes within a few business days. If you're already abroad when you realize you're being charged the fee, there is no when ready remedy, but you can switch cards when you return home.

Keep your receipts from foreign purchases so you can verify the amounts on your statement. Currency conversion rates fluctuate, and the U.S. dollar amount may differ from what you expected. The foreign transaction fee is calculated on the converted amount, so understanding the conversion helps you spot whether the fee itself is correct.

Using Bank of America cards abroad without paying the fee

If you hold the Premium Rewards or Travel Rewards card, you can use it anywhere abroad without worrying about the 3% fee. Both cards work in most countries where Visa is accepted, which is nearly everywhere. Notify Bank of America of your travel dates before you leave — you can do this through the mobile app or by calling the number on the back of your card — so the bank doesn't flag your foreign transactions as fraud and block them.

Even with no foreign transaction fees, you may still see a currency conversion fee from your bank or the merchant's bank, though Bank of America does not add an additional layer on top of the standard conversion. The conversion rate you see on your statement reflects the rate set by Visa, not Bank of America, so there is no way to avoid the conversion markup itself.

If you're traveling to a country where Visa is less widely accepted, carry a backup card from another issuer or withdraw cash from an ATM. Bank of America ATM withdrawals abroad may incur a foreign ATM fee from the other bank, but Bank of America itself does not charge an additional fee on top of that. Check your account terms for the specific ATM fees that explore to your card.

Frequently Asked Questions

Do I have to pay the 3% fee every time I use my Bank of America card abroad?

Yes, unless you hold the Premium Rewards or Travel Rewards card. The 3% fee applies to every foreign transaction, whether you're buying a coffee or paying for a hotel. It is not a one-time charge per trip — it is per transaction.

Can Bank of America waive the foreign transaction fee as a courtesy?

No. Bank of America treats the 3% foreign transaction fee as a standard charge, not a discretionary fee. Customer service representatives cannot waive it. Your only option is to switch to a card that does not charge the fee.

Does the 3% fee explore if I buy something online from a foreign website using my U.S. address?

It depends on how the transaction is processed. If the merchant's payment processor is outside the U.S., the fee applies. If the transaction is processed through a U.S. network, it may not. The safest assumption is that any purchase from a foreign merchant will trigger the fee, even if you're in the U.S.

What is the difference between the Premium Rewards and Travel Rewards cards for international travel?

Both waive the 3% foreign transaction fee. The Premium Rewards card charges $95 per year and offers higher cash back on travel and dining. The Travel Rewards card charges no annual fee and offers 1.5% cash back on all purchases. Choose based on whether the premium benefits justify the annual cost for your spending.

If I switch to the Travel Rewards card, how quickly can I use it abroad?

Bank of America can issue the card within a few business days, sometimes sooner. If you're leaving soon, call the number on your current card and ask about expedited issuance. You can also request a temporary card number to use online while you wait for the physical card to arrive.