Credit cards with no overseas (or foreign) transaction fees can provide substantial savings for those who frequently transact in foreign currencies, such as when travelling overseas and interacting with the overseas versions of websites such as Amazon, eBay and Macy’s.
The typical overseas transaction fee for most credit cards in Australia is 2-4% of the converted amount, meaning that a US$100 transaction will convert to ~AU$158 plus add on an average ~AU$4.74 fee.
If you travelled overseas for three weeks a year and spent the equivalent of AU$120/day not using a card that waives overseas transaction fees, the charges would rack up to over $75, which is almost the annual fee of some cards that earn you a solid points rate.
However, while international transaction fee waivers are welcome, they need to be given in conjunction with a good foreign exchange rate on the credit card. We’ve also been asked about credit cards with no forex fees a number of times – here, here, here and here, just for a small handful – so below is a round-up of some of the cards on the Australian market that offer no overseas transaction fees.
Westpac Lite Credit Card
- Annual Fee:
- $9 Monthly card fee
- The Westpac Lite Credit Card has no foreign transaction fees including for shopping and offer a low variable purchase rate of 9.90% per annum. The card has a monthly fee of $9 for a total of $108 annually.
NAB Rewards Signature Card with Velocity
- Sign-up Bonus:
- Up to 80,000 bonus Velocity Points
- Rewards Earn Rate:
- Earn 1.5 NAB Rewards Points per $1 spent on everyday purchases up to $15,000 per statement period, then 0.5 NAB Rewards Points for every $1 spent, uncapped thereafter²
- Annual Fee:
- $35 monthly fee, can be reversed when you spend $5,000 or more in a statement period.
- Enjoy up to 80,000 Velocity Points for new cardholders (by earning and automatically redeeming 160,000 NAB Rewards Bonus Points) when you spend $5,000 on everyday purchases within the first 90 days of account opening and keep your card open for over 12 months (Offer available to new NAB Cardholders only. T&Cs apply.)
Bankwest Qantas World Mastercard
Offer Currently Not Available
- Rewards Earn Rate:
- 1 Qantas point earned per $1 on eligible purchases up to $5,000 per month. 0.5 Qantas Point per $1 thereafter
- Annual Fee:
- $270 p.a.
- The Bankwest Qantas World Mastercard is great for those who are looking for a Qantas-point earning card that has no foreign transaction fees for online and overseas purchases. Comes with several complimentary insurances including overseas travel insurance.
Bankwest Qantas Platinum
Offer Currently Not Available
- Sign-up Bonus:
- Up to 50,000 bonus Qantas Points
- Rewards Earn Rate:
- 0.75 Qantas Point per $1 spent on eligible purchases up to $2,500 per month, 0.3 Qantas Points per $1 thereafter
- Annual Fee:
- $160 p.a.
- Bankwest is offering up to 50,000 bonus Qantas Points for new cardholders who apply for the Qantas Platinum Mastercard and spend $3,000 on eligible purchases in the first 90 days and keep their card open for over 15 months. The card earns 0.75 Qantas Points per dollar and has no foreign transaction fees for online and overseas purchases.
Macquarie Black and Platinum cards
Macquarie bank has no overseas transaction fees on all their cards, including the rewards points-earning Macquarie Black and Platinum cards.
You can earn Macquarie Rewards points a rate of up to two points per dollar for the Black Card. Or, up to one point per dollar for the Platinum Card. However, Macquarie no longer offers credit cards with Qantas Points attached. You also can’t transfer Macquarie Rewards points into frequent flyer points.
CommBank Awards cards with no overseas transaction fees
The Commonwealth Bank has a couple of credit cards with no overseas transaction fees, which also earn points. The most rewarding is the Ultimate Awards card. It earns up to three Awards points per $1 spent overseas (up to $10,000 spent per month). That’s equivalent to 1.5 Velocity Points, 1.2 Flying Blue Miles or 1 KrisFlyer mile per $1 transacted overseas. If you opt-in for Qantas Points (an additional fee applies), earn up to 1.2 Qantas Points per $1 spent abroad.
CBA’s Smart Awards credit card also comes without international transaction fees. However, the earning rate overseas matches what’s possible in Australia. On general transactions, that’s 1.5 Awards points (equal to 0.75 Velocity Points) or 0.6 Qantas Points per $1 spent. This rate applies when spending up to $5,000 per monthly statement period.
On both of the CBA cards mentioned above, earning rates decrease on transactions beyond these thresholds. Other fees, including monthly fees, may apply. However, these fees can be waived by using the card regularly. The usual $19/month fee for the Smart Awards card is waived in each statement period where you spend at least $2,000. On the Ultimate Awards card, the $35 monthly fee is waived when spending at least $4,000 per statement period.
Non-points-earning cards with no overseas transaction fees
Latitude 28 Degrees Global Platinum Mastercard
Offer Currently Not Available
- Annual Fee:
- $8 card fee per month
- The 28 Degrees Global Platinum Mastercard offers fee-free international transactions and currency conversion. It also comes with free global wifi and is a favourite of savvy overseas travellers to help minimise payment fees abroad.
The no-annual-fee Bankwest Zero Platinum Mastercard is another option. But note that the Classic version of this card does apply overseas transaction fees.
The Westpac Lite card has a $9 monthly fee.
The ING Orange One card will waive the overseas transaction fee if you deposit a specified amount in an ING account and use your card a certain number of times.
Tip
When travelling overseas and a card terminal prompts you to select your currency, always pay in the local currency. That’s because the rates offered by the terminal include some padding – adding margin for the store owner. And, with many Australian credit cards, those ‘AUD’ transactions overseas would still be subject to international transaction fees.
Summing up
By adding a credit card with no overseas transaction fees to your wallet, you can minimise costs when travelling and spending in foreign currencies. Even if that means using another card (or cards) that prove more rewarding within Australia.
Also read: What is an ‘eligible purchase’ on a credit card?
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These credit cards have no overseas transaction fees was last modified: November 12th, 2025 by
Community Comments
I realise your talking about credit cards but how doe the ING Debt Card compare to the above, no points but I’ve found it ok Matt.
Latitude 28 is still worth considering as long as you don’t get cash from an ATM OS. But, previously could add cash to the account before travel, rather than increasing the credit limit. Now the cash gets returned very quickly so could get caught out.
Another option is Wise app/debit card. Can get even if retired, not so with credit cards.
Latitudes’ 28 Degrees are about to start charging $8 per month effective next month. Time to ditch them!
Had all my financial details leaked in the Laitude hack. Won’t be trusting them again with anything. My ING card is free and reliable when I want to avoid fees OS.
Latitude 28° are bringing in fees:
We are writing to let you know about upcoming changes to your Latitude 28° Global Platinum Mastercard credit card. Please note that from 17 September 2024, the following changes will take effect:
A card fee of $8 per month will be introduced. You will see this fee being charged on your first statement from 17 September 2024.
Interest rates on purchases – your rate will increase to 27.99% p.a.
Yes same here. I will be looking elsewhere in these harsh economic times
Yes have to agree with Dean W
Have been with you for m any years and will now go to an alternative product!
Coles has just introduced a 3% international fee.
“We are increasing the International Transaction Fee for Retail Purchases and Cash Advance transactions to 3.00%. The International Transaction Fee Waiver is being removed on the Coles Rewards Mastercard and Coles Rewards Platinum Mastercard.”
Boo.
I think you’re missing one of the best out there, the Commbank ultimate awards. https://www.pointhacks.com.au/credit-cards/commbank-ultimate-awards-card-guide/
I used the Latitude 28* card recently, to pay a #US1300+ deposit for a cruise, my friend used a different card and my charge was $11 more than hers, now I know thats not much, but it all adds up, so the 28* card has a crap rate. I have to pay the rest, approx $US7k next week, might try the Bankwest platinum card and compare again.
How did you go with the comparison to bankwest?
Can you compare the above cards’ exchange rates? A few years ago I compared the 28 degrees exchange rate to my visa debit card and the 28degress was very high. The above cards may not charge overseas transaction fees but they make up for these in lousy exchange rates.
With the Latitude 28 Degrees Global Platinum Mastercard can you load up the card (into debit) and make cash withdrawals overseas and not be penalised?
They’ve closed that loophole a long time back – probably over 5 years ago.
Can you update this to include Up bank
I don’t think Up bank provide credit card.
Coles reward card now has a fee
Macquarie Credit Cards also have just removed their Int’l Transaction fees also, including rewards cards.
You’re right. Thank you for bringing this to our attention. We’ll update our guides accordingly.
The Bankwest Qantas cards also have no foreign transaction fee?
The Bankwest Platinum Zero Mastercard is another one that could be added to this list. No annual fee or overseas transaction fees, as well as complimentary travel insurance
Updated. Thank you!
Bankwest Zero also has no overseas transaction fees https://www.bankwest.com.au/personal/credit-cards/no-annual-fee
Updated. Thank you!
When the CBA cancellls the Amex card, is Amex going to offer a replacement to the cardholders? When Westpac dumped Amex, they offered a replacement issued direct from Amex?
Credit card Forex fees are a total ripp off..the RBA/Royal Commission should have a good hard look at the way Australian banks rip consumers off on credit card forex
Hi Matt, thanks for the article. Is it possible to pre-load any of these cards and use them for ATM withdrawals overseas?
I think pre-paid travel cards is what you are after.
Thx Matt, I’ll have a look at those.
Hi, I used 28Degrees in the beginning and after they introduced some fees, I switched to Citibank Plus debit card. Recently I decided to close my 28Degrees. This is when I faced with many surprises. There was some my money left on the card and I requested a refund. They closed my card immediately, however still no refund. They didn’t dare to return money since. It’s more than 1.5 months. I wouldn’t trust them after this.
It’s very important to analyse the Exchange Rate each Credit Card is using. They can vary a lot and mean the non-charging of the Overseas Transaction Fees are not as attractive as they may appear.
It’s worth making a few “equal” transactions (at the same time) to see what actually ends up on your statement
https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html
I understand Amex uses Reuters.
Does anyone have any further information
I completely agree! I just posted this above before I read your message.
Thanks MM for your reply re the Coles M/C, but you mention the $99 pa card and associated perks. I have the free one what is fewer FBs points etc. so, I still wonder if the freebie is also good for OS spend?
The No Annual Fee Coles Mastercard has a 1.5% international transaction fee + 0.2% currency conversion assessment fee on overseas purchases.
Thanks, very useful article. Does the free Coles M/C also give free o/s transaction fees?
Yep, that’s the second card listed in the article!
Has anyone compared which of these cards provide better exchange rate? I have compared few times in the past with Bankwest, ANZ and 28 degrees and found Bankwest offered better rates compared to the rest.
what about Citibank Plus debit card – the only card that I know of that still offers fee free foreign cash withdrawals, after 28 Degrees started charging for it. I keep both and use 28 Degrees mostly for hotel & eating etc expenses. Hard to compare which offers better rates on purchases, possibly 28 Degrees a little better. Yes, I know Citibank really – put onto it by a friend who was working for an NGO who recommended it.
That’s a good option too. I use my Citibank Plus debit card for ATM withdrawals overseas. The reason we didn’t include it in this article is because we were focussing exclusively on credit cards in order to find the ones you can earn points on.