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Money Talks News: 10 of the World’s Most Insulting Fees and How to Beat Them

Banks

6. Foreign transaction fees: This is a fee charged on credit card purchases processed outside the United States; for example, when you use your card in Europe, or to buy something from a non-U.S. company. Banks that charge them typically collect 3 percent of every transaction. The implication of this insulting fee is that it’s related to the intricacies of currency conversion. But courts have decided these fees are nearly pure profit: money for nothing.

Workaround: If there’s any chance you’ll be making purchases outside the United States, use a card that doesn’t charge this fee. There are plenty to choose from: See Overseas With No Credit Card Fees.

(iStock)

More from Money Talks News:
7 Ways to Radically Reduce Your Restaurant Checks
10 Money Mistakes That Can Ruin a Marriage
21 Things You Should Never Pay For



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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