Travel Sites: Can You Pay With Checking Accounts?

When it comes to travel, it's important to consider the fees associated with using your bank account internationally. While some banks charge exorbitant fees for foreign transactions and offer poor exchange rates, others provide more favourable options for travellers.

Some banks and credit unions offer reimbursement of foreign transaction fees, while others have a significant global presence with operations in multiple countries, making it easier to access your money.

- Capital One 360 Checking

- Betterment Checking

- Charles Schwab High Yield Investor Checking

- Axos Bank Rewards Checking

- Ally Bank High Yield Savings Account

- HSBC Everyday Global Account

Best for domestic travel

The Capital One 360 Checking® account is a great option for those who want to avoid additional fees when travelling within the US. Account holders can make fee-free withdrawals from any ATM worldwide, including over 70,000 fee-free Capital One, Allpoint and MoneyPass ATMs. The account also earns interest on the balance, and there is no minimum deposit requirement.

The Capital One app, currently rated over 4.5 stars, facilitates mobile banking while travelling. Capital One is also a strong choice for those who want a well-known retail bank, with branches in seven US states and Capital One Cafés in some big US cities.

However, it's worth noting that Capital One does not reimburse fees for out-of-network ATMs, and only operates around 280 branches.

Best for international travel

When it comes to international travel, you'll want a checking account that avoids common fees, offers accessible customer service, and has a great mobile app. Here are some of the best checking accounts for international travel:

Betterment Checking

Known primarily for its robo-advisor investing products, Betterment Checking is an excellent choice for international travel as it refunds all ATM fees, both domestic and international. It also offers cashback at select retailers and insurance for your cell phone if you pay your bill with their debit card. The account has no fees or minimum balance requirements. However, you cannot deposit physical cash into the account via an ATM.

Charles Schwab High Yield Investor Checking

Charles Schwab's checking account is ideal for international travelers as it doesn't charge foreign transaction fees and refunds all ATM fees worldwide. Opening a checking account with Schwab also requires opening a brokerage account with them, but there are no fees for this, and you are not obligated to use it. The main downside is that there is no way to deposit cash directly.

Capital One 360 Checking

With Capital One 360 Checking, you can withdraw from any ATM worldwide without incurring additional fees. The account earns interest on the balance, and automated customer service is available 24/7 by phone. Over 70,000 fee-free Capital One, Allpoint, and MoneyPass ATMs are available for withdrawals. The Capital One app, which you can use for banking functions while traveling, currently has a rating of over 4.5 stars.

Best for travelling and investing

When it comes to travelling and investing, there are a few options to consider. Here is a list of the best accounts for travelling and investing:

Charles Schwab High Yield Investor Checking®

This account is ideal for those seeking unlimited ATM fee reimbursements worldwide, as well as interest on their balance. There are no monthly fees or minimum balance requirements. When opening a checking account with Schwab, you will also have to open a Schwab brokerage account, but there is no obligation to use it and no fees for having it. The only downside is that there is no way to deposit cash directly.

Capital One 360 Checking®

This account is perfect for domestic travel within the US. With this account, you can withdraw from any ATM in the world without incurring additional fees. The account also earns interest on the account balance, and automated customer service is available 24/7 by phone. The Capital One app, which is rated over 4.5 stars, can also be handy when travelling. There is no minimum deposit requirement, and you can withdraw cash at over 70,000 fee-free Capital One, Allpoint and MoneyPass ATMs.

Betterment Checking

This account is excellent for international travel, as it refunds all ATM fees, both domestic and international, including those charged by out-of-network ATMs. There are no fees of any kind, and no minimum balance requirements to get started. However, one downside is that you cannot deposit physical cash into the account via an ATM.

Wise (formerly TransferWise)

Wise is one of the biggest names in global fintech and international banking. It allows you to hold money in over 50 different currencies and sends and receives money almost anywhere. You can get a Wise debit card with some of the most competitively low fees for international spending. Wise is transparent about its low fees and always works on improving its cost structure. The only downside is that 3D Secure online payments are not currently supported for US-issued cards.

N26

N26 is a user-friendly and innovative bank that has revolutionised the European banking market. It offers a free Standard plan with no monthly or yearly costs, no foreign transaction fees, no currency exchange markup, and more. N26 You and N26 Metal accounts offer excellent travel insurance, while the Smart plan is a good option if you want free physical cards and subaccounts for better budgeting and saving. The only downsides are that there is a €10 charge to get a physical card with the free plan, and N26 is currently not allowed to onboard a lot of customers due to improvements being made to their KYC procedures.

Best for solely online banking

If you're looking for a checking account that is solely online banking, Axos Bank Rewards Checking is a great option. There are no physical branches, but you can access 24/7 customer service through phone or secured online chat. Axos Bank Rewards Checking has no monthly, overdraft or non-sufficient funds fees and offers unlimited domestic ATM fee reimbursements.

Another option is the SoFi Checking and Savings account. SoFi is completely online, so you'll need to call customer service for help with your account. 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.

If you're looking for a well-known retail bank, Capital One 360 Checking is a solid choice. Capital One ranks No. 1 on J.D. Power's US National Banking Satisfaction Study and offers 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.

Best for ATM reimbursements

When travelling, ATM fees can be a real drain on your finances, with charges coming from both your bank and the ATM itself. However, there are several banks that offer checking accounts with unlimited ATM fee rebates, both domestic and international.

Charles Schwab High Yield Investor Checking®

Charles Schwab offers a checking account with unlimited ATM fee rebates worldwide, and no monthly fees or minimum balance requirements. The account also earns interest on your balance. The only downside is that there is no way to deposit cash directly. To open a checking account with Schwab, you will also have to open a Schwab brokerage account at the same time, but there are no fees for this and you don't have to use it.

Betterment Checking

Betterment's checking account is excellent for international travel as it refunds all ATM fees, both domestic and international. There are no fees of any kind, and no minimum balance requirements. However, you cannot deposit physical cash into the account via an ATM.

LendingClub

LendingClub offers unlimited ATM fee reimbursements for customers with either a Rewards Checking or Tailored Business Checking account. The reimbursements are deposited into your account at the end of each month.

Alliant Credit Union

Alliant Credit Union offers up to $20 a month in ATM fee rebates when you use the Alliant Visa debit card. The rebate is deposited into your checking account at the end of each day that you’re charged ATM fees, excluding foreign transaction fees.

Axos Bank

Axos Bank offers unlimited domestic ATM fee reimbursements for its Essential Checking, Rewards Checking and Cashback Checking accounts. For its Golden Checking account, designed for customers aged 55 and over, up to $8 in ATM fees can be reimbursed each month.

Navy Federal Credit Union

Navy Federal Credit Union offers up to $10 in ATM fee rebates per statement cycle for its Free Easy Checking account. To be eligible for the account, members must either set up direct deposit or make at least 20 transactions each month. To join, you need to be a member of the military or have a household connection to someone who is.

TD Bank Beyond Checking

TD Bank offers unlimited out-of-network ATM fee reimbursements with its Beyond Checking account, but a minimum balance of $2,500 in the account is required to qualify.

EverBank

EverBank checking accounts that don’t have minimum balance requirements offer up to $15 in ATM fee rebates each month. Accounts that require a minimum average daily balance of $5,000 provide unlimited reimbursement of ATM fees.

Frequently asked questions