3
votes
4answers
190 views

Why do the banks charge a foreign transaction fee?

Could somebody please explain why some banks charge a fee for card transactions made in a foreign currency? For example, for a debit card transaction, as far as I know, the exchange from the foreign ...
8
votes
3answers
488 views

Why the different fees for credit and debit card payments?

Could somebody explain why the merchants are charged different fees when the customers use credit and debit cards?
2
votes
1answer
89 views

Is it possible to get a debit card for a non-US-citizen nephew without foreign transaction fees?

Here is my predicament: I am a US citizen, and I have a nephew in Russia, who is not a US citizen, and whom I would like to support financially. I have easily been able to make him an associated user ...
0
votes
2answers
374 views

How do debit card interchange fees work cross-border?

In some countries (for example US, UK), only credit cards have a hefty percentage (usually around 2%) interchange fee, while debit cards have only a small fixed fee for each transaction. But in other ...
9
votes
5answers
1k views

Is there a fee if you used your debit card as credit card?

Is there a fee if you used your debit card as credit card? I see people recommending to always run debit card transactions as credit. There is a similar question here as well: What does it mean to ...
6
votes
4answers
1k views

Best bank for withdrawing cash when traveling outside the U.S.?

When I travel abroad (outside the US), it can get pricey to transfer money. I usually withdraw cash using my bank's debit card, but they charge a transaction fee and a percentage fee, I believe. For ...