Using your US Santander card abroad: 2024 guide

If you have a checking account with Santander® in the US - and you’re planning a trip overseas - you’ll likely be wondering about the Santander debit card foreign transaction fee, and any other costs which may apply when you use your Santander debit card internationally.

Read this guide to find out all you need to use about using your US issued Santander debit card overseas. Plus we’ll also touch on the Wise account - a non bank alternative with linked low cost debit cards, which can help you avoid international fees when you spend overseas*.

What checking accounts are available from Santander US?

Santander US offers 3 different checking accounts, which all come with linked debit cards which you can use at home and abroad. Here are your options:

• Santander Simply Right Checking¹
• Santander Essential Checking²
• Santander Select Checking³

This guide focuses on the use of Santander US debit cards abroad, but it’s good to know you can also get a Santander US credit card⁴ if you’d prefer.

Bear in mind that fees for credit cards can be higher compared with debit cards - particularly when you make ATM withdrawals. Double check your specific card costs before you transact.

How much does it cost to use my Santander cards abroad?

When you spend abroad using your Santander card, you’re most likely going to incur some fees. The exact costs which apply do depend on how you transact and the specific card you have. Here’s a rundown.

Santander US foreign transaction fees

Let’s say you have a Santander debit card. It’s important to check the Santander foreign transaction fees which will apply whenever you use a foreign currency.

This can be when you’re overseas, or when you shop online with an international retailer.

Whenever you spend, the bank will apply the day’s exchange rate as calculated by the card’s network, to convert your purchase into USD. You can expect a small markup to be added from the mid-market exchange rate you’d find online.

But usually the rates are pretty fair, as long as you’re being charged in the local currency. If you end up being charged in USD instead of the local currency where you’re spending you might run into extra costs because of something called Dynamic Currency Conversion (DCC). But more on that later.

There’s then a Santander international transaction fee, which varies based on the checking account you hold. You can choose an account which waives the Santander foreign transaction fee, but for this you’ll need to pay a higher monthly charge:

Santander US checking account	Monthly fee	Santander foreign transaction fee⁵
Santander Simply Right Checking	10 USD	4% if you use a debit card; 3% if you choose an ATM card
Santander Essential Checking	4 USD	4% if you use a debit card; 3% if you choose an ATM card
Santander Select Checking	25 USD	Fee waived

ATM fees

If you’re taking cash out of an ATM, there may also be further charges to pay. Santander adds an extra fee when you use most of their cards abroad, and individual banks or ATM providers might levy their own fees on top of those your bank charges.

The fees added by ATM operators can vary widely depending on where in the world you are, but are usually shown on screen before you confirm a withdrawal.

Here are the Santander US checking account ATM fees when you’re abroad:

Santander US checking account	Santander international ATM fee
Santander Simply Right Checking	6 USD, waived in Mexico
Santander Essential Checking	6 USD, waived in Mexico
Santander Select Checking	Waived - you may also get some fees returned if another operator charges you for ATM use

Dynamic currency conversion (DCC)

Remember dynamic currency conversion (DCC), mentioned above? This is when you’re asked if you want your purchase to be processed in USD instead of the local currency. It might seem like a simple convenience, but should most definitely be avoided.

You’ll run into DCC nearly anywhere your card is accepted overseas. For example, at an ATM, restaurant or store.

Always choose to pay in the local currency, because the foreign currency exchange rates applied when using DCC are always pretty poor. In this case, the rates are set by the local company or ATM machine.

Unlike your bank, which has an interest in ensuring you’re happy with their services, a foreign provider, has no such obligations. They’ll mark-up the exchange rate so they can pocket the difference, meaning you pay over the odds for no real benefit.

International money at the tip of your fingers: get the Wise card

Get fee free international ATM withdrawals, up to 100 USD/month, with the Wise card. Keep in mind that ATM operators may charge their own fees.

Open a Wise Account online or in the Wise app, to hold and exchange 40+ currencies, with the mid-market rate and low fees*.

Get cash conveniently around the world, with some fee free withdrawals every month, and low fees of 1.5 USD + 2% after that*. That can work out cheaper than using your bank card for overseas withdrawals.

Check out these other handy Wise personal account features:

Hold and manage money in 40+ currencies from your phone Send and receive money internationally to 80+ countries with low fees Opt in to receive annual percentage yield (APY) on your USD balance with Wise’s interest feature (subject to change, certain limitations apply — see Program Agreement for more information) Spend in 150+ countries with the Wise card, with transparent and competitive fees Conveniently get instant updates and track transactions on the go with the Wise mobile app Robust security measures and encryption to protect your funds and personal information.

Get a Wise Account
in minutes

What if my Santander credit or debit card card gets lost or stolen while I’m overseas?

It’s worth thinking about how you’ll cope if your card is somehow lost or stolen when you’re on your vacation. As with most card issuers, Santander US offers comprehensive banking support through its app and online services.

If you find your card has been lost or stolen you’ll need to log into your account to report what’s happened. Santander can cancel your card and offer advice on what to do next.

Is it better to use debit or credit cards abroad?

Your personal preferences and spending habits will dictate whether it’s best to use a debit or credit card abroad. It’s also important to understand the fees and charges associated with your specific Santander card, as there are some big differences between the best and worst value when used overseas.

Using a debit card is better if you intend on taking out cash from an ATM. That’s because the non-sterling cash fee is lower when using a debit card. Watch out, however, for extra fees added by the local ATM.

However, a credit card might suit you if you need to spread the cost of your holiday over time. Depending on which credit card you have, you could even get a better deal, or be eligible for discounts on additional services such as travel insurance. You might rack up additional interest costs, though.

Spending on a credit card can be safer than using cash, as your purchases will be monitored by your bank. You should also be able to get help if you're the victim of fraud. To get the most out of this option, keep all your receipts and check your card statements thoroughly.

What are some good tips for cutting the costs of using cards abroad?

Whether you’re with Santander or another bank, you want to avoid the costs of spending and making withdrawals overseas as far as possible. Here are a few handy tips:

Get a Wise account and card: consider using a specialist non-bank provider instead of Santander, to get lower overall costs and convenient spending. Open a Wise account with a card to spend and make withdrawals conveniently overseas. Currency exchange uses the mid-market rate and fees*, with some fee free ATM withdrawals every month, to let you get cash when you need it overseas too.  Avoid dynamic currency conversion (DCC): As we’ve mentioned, DCC is probably the number one way to get caught out by unexpected fees when using a card overseas. If you’re asked if you want to pay in dollars when shopping or withdrawing overseas, just say no. Stay away from credit cards when withdrawing internationally: While the exact fees you pay can depend on the specific card, credit cards almost always charge high cash advance fees, and immediate interest when you make a cash withdrawal. This can be far more expensive than using a debit card if you decide you need cash on hand when you’re abroad.

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Santander US offers international debit and credit cards to eligible customers - which can offer decent value, depending on the account you have. Santander Select customers have many international fees waived - but at a pretty high monthly cost.

You’ll need to weigh up whether this is worthwhile, based on the account features. Standard Santander checking accounts come with cards which have foreign transaction fees and international ATM fees which can be pretty high.

As an alternative you might choose to look into non-bank alternatives such as the Wise account which has multi-currency functions, mid-market exchange rates, and no ongoing charges. See if you can save with Wise, today.

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Sources:

1. Santander Simply Right Checking
2. Santander Essential Checking
3. Santander Select Checking
4. Santander US credit cards
5. Santander US checking fees

Sources checked on 05.09.2024