Visa — like Mastercard and Amex — is a payment network which allows banks to process credit and debit cards transactions. So even though your bank will issue you the card itself, which is often linked to a local bank account, Visa supplies the technology to allow payments to happen.
Although Mastercard is more popular in Australia, Visa is actually the biggest payment network globally, with some 850 million Visa cards in circulation in total.¹
Paying for goods and services - and getting cash from an ATM - using your Visa card is a convenient option for many. But what if you go abroad or shop online in foreign currency? Can you still use your normal Australian Visa card, and what are the fees and exchange rates?
Here's all you need to know. You can also learn more about the Wise card, an easy way to stretch your dollars when paying in foreign currencies.
If you're planning on travelling overseas soon, it's worth letting your bank know. That should mean that you can continue to use your Visa card as normal during your holiday, anywhere the Visa network is accepted. You can also get a handy Visa ATM locator to check if you'll be able to use your card to make cash withdrawals wherever you're headed.
It's usually pretty simple to inform your bank that you'll be using your Visa credit or debit card in a different country - often there's a form within online banking which lets you update your details. If you don't do this, you might find that your card is blocked while you're away, if your bank's fraud prevention systems notices a change in spending pattern as a sign that something could be wrong.
Before using your Visa card abroad, you should check out the fees which will be applied. These vary depending on which bank issued the card, and can be found in the terms and conditions section online.
You'll also need to know about something called dynamic currency conversion (DCC), to make sure you're not overpaying when using your card at overseas ATMs, stores or restaurants.
DCC is when you're asked if you want to be charged in the local currency, or Australian dollars (AUD). It's sold as a service for travellers, because you don't need to understand the exchange rate to know what a transaction is costing you.
However, it comes with the risk of hidden fees, and a poor exchange rate. By selecting to pay in the local currency, the conversion back to dollars is done using Visa's exchange rate, which is typically better than the rate an overseas ATM or merchant will give you.
Visa has an online currency converter which will show you the costs of an overseas purchase, when made with an Australian issued Visa card, including the currency conversion and any overseas transaction fee added by your bank. If your Visa was issued outside of Australia you'll need to go to the relevant regional Visa website to find the rates for your purchase.
Using the calculator linked to above, let's do a test payment in GBP using our AUD-denominated Visa card.
| Exchange rate² | Visa | Wise Card |
|---|---|---|
| Exchange rate AUD to GBP | 0.5182 | 0.5069 |
| 100 AUD to GBP | 51.82 GBP | 50.06 GBP |
| Fees | 2% of amount roughly $2 AUD (your bank may charge a different fx transaction fee) | 1.24% variable fee Roughly 1.24 AUD (See pricing here) |
| Type of rate | Visa's rate | Mid Market rate |
Rates and fees as seen on respective calculators on 23 January 2026
Please see Terms of Use and product availability for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
With Wise, you get the mid-market exchange rate and pay way lower percentage in fees overall. So no nasty surprises when it comes to using your card abroad or paying online in foreign currencies.
The fees and charges associated with using your Visa card abroad are decided by the issuing bank. That means to be certain of what it'll cost to use your card overseas, you'll need to check the terms and conditions or fee schedule of your particular account.
There are some specialist accounts available in Australia which are designed to travellers, and so can offer lower cost international transactions. However, for most Visa credit cards and debit cards linked to a regular bank account, you could hit steep fees for international use.
Here's what you should look out for:
| Fee type | Cost |
|---|---|
| Foreign transaction fee | Typically around 2-3% for regular bank accounts |
| Overseas ATM withdrawal fee | There could be a charge set by your bank - usually around $5 + a fee added by the ATM operator |
| Credit card cash advance | Can be around 2% + any additional international fees, as set out in your terms and conditions |
| Foreign exchange rate margin | The exchange rate used might include a markup added to the mid-market rate |
If your Visa card is lost or stolen while you're abroad you'll need to inform your bank straight away. They'll then cancel the card so no further payments or withdrawals can be made on it.
Before you leave, make sure you have your bank's emergency contact details, so that you can easily speak to them if there's a problem. It's worth writing the details down and keeping them safe - and also emailing yourself the information so you can access wherever you happen to be.
It's also a good idea to check the bank has your most up to date personal details. If they think there's a problem with your account, or if suspicious spending means it looks like someone has stolen your Visa card, they'll use your registered phone number or email address to contact you.
If you don’t want to rely on your bank’s Visa card when travelling — and having alternatives is certainly a smart choice – you could try Wise. The Wise card is a simple way to save up to 4x when you're spending internationally. You can spend in 150+ countries at mid-market rate — basically the rate you see on Google. With no foreign transaction fees and low, transparent pricing, Wise usually gives you the best value for your money.
Simply create a Wise account for free, order a card and top-up AUD to get started. Having a physical Wise card allows you to make chip and pin payments, as well as make some free ATM withdrawals each month for when you're abroad. You can get digital cards and add to your Google or Apple Pay wallet for instant use. Spend directly with the Wise account in AUD and let auto-conversion do the trick or convert in advance to your desired currency. You can hold and exchange 40+ currencies in your Wise account and spend the currencies you hold for free.
Wherever your travel takes you, the Wise card makes spending money abroad cheaper and easier.
This general advice does not take into account your objectives, financial circumstances or needs and you should consider if it is appropriate for you. Savings claim based on our rates vs. selected Australian banks and other similar providers in Jan 2026. To learn more please visit https://wise.com/au/compare
Please see Terms of Use and product availability for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
Sources:
Sources checked on 23 January 2026
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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