Travel Advisory: Banks With High Fees

by John

Over the next few months, countless Americans will take to the road or the sky for summer vacations. For most, the cost of a flight or hotel is of primary concern, but there other important travel costs that travelers may not take into consideration: bank fees. Making a withdrawal at an out of network ATM (one that’s not owned by the bank) often results in a fee, on top of whatever the machine itself might charge. For globetrotting Americans, the fee can be even higher at international ATMs. Even swiping a card to make a purchase in a foreign country typically results in a debit card foreign transaction fee up to 3% of the amount.

Not all checking accounts are equally fee-laden. To help consumers determine which banks might charge the most on their trip, NerdWallet compiled data on 4 different factors for personal checking accounts at 20 of the largest U.S. banks. These factors include:

• Fees: NerdWallet analyzed out of network ATM fees, international ATM fees, and foreign transaction fees at each bank
• Access: NerdWallet analyzed the number of branches that each bank operates in the top 10 U.S. states by domestic travel expenditures (CA, FL, TX, NY, IL, NV, PA, VA, GA, NJ)

Which banks have the highest fees for summer travelers?

While these banks are not necessarily poor options in general, some of their fees and branch availability may make it difficult for travelers to avoid extra costs.

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