Foreign transaction fee calculator
Find out what your card’s foreign transaction fee costs you each year, and see when a card with no foreign transaction fee pays for itself.
Free · No sign-up · Updated October 2026
$115a year in foreign transaction fees
- Foreign spending per year
- $4,600
- Fees per trip
- $50.00
- Fees over 5 years
- $575
The fee is charged on top of the card network’s exchange rate, on every purchase in a foreign currency.
Cards with no foreign transaction fee
“Pays for itself at” is the foreign spending where the fees you’d save equal the card’s annual fee, using your 2.5% fee.
| Card | Annual fee | Pays for itself at | Your yearly saving |
|---|---|---|---|
| Home Trust Preferred Visa | $0 | Any amount | $115 |
| Wealthsimple Credit Card | $0 | Any amount | $115 |
| Scotiabank Gold American Express Card | $120 | $4,800 a year | −$5 |
| Scotiabank Passport Visa Infinite + Card | $150 | $6,000 a year | −$35 |
| Scotiabank Platinum American Express Card | $399 | $15,960 a year | −$284 |
| Scotiabank Passport Visa Infinite Privilege Card | $599 | $23,960 a year | −$484 |
“Your yearly saving” is fees avoided minus the card’s annual fee. It ignores rewards and other perks.
How this calculator works
The fee on your foreign spending
We add up your trip spending and foreign online shopping for the year, then apply your card’s fee, which is about 2.5% on most Canadian cards.
Enter amounts in Canadian dollars. The fee is charged on top of the card network’s exchange rate.
When a no-FX-fee card pays off
For each card with no foreign transaction fee, we divide its annual fee by your fee rate. That’s the yearly foreign spending at which the fees you avoid cover the annual fee.
This ignores rewards, insurance and other perks, which can tip the balance either way.
Questions
What is a foreign transaction fee?
It’s a charge added to purchases made in a currency other than Canadian dollars, on top of the exchange rate. Most Canadian credit cards charge about 2.5%, and it applies both abroad and on foreign online purchases.
Do I pay a foreign transaction fee when shopping online?
Yes, if the store charges you in a foreign currency, such as US dollars. If the site charges in Canadian dollars, there’s usually no foreign transaction fee, though the price may already include a conversion.
Should I pay in Canadian dollars or the local currency abroad?
Usually the local currency. When a terminal offers to charge you in Canadian dollars, the merchant’s exchange rate is often worse than your card network’s, even after a foreign transaction fee.
Is a no foreign transaction fee card worth it?
It is when the fees you’d save are more than the card’s annual fee. At a 2.5% fee, every $1,000 of foreign spending costs about $25 in fees, so a card’s annual fee divided by 2.5% is the yearly foreign spending where it pays for itself.
Is the foreign transaction fee refunded if I return something?
Often not in full. A refund in a foreign currency is converted at the exchange rate on the refund date, and the original fee may not be returned, so you can end up slightly out of pocket.
Do debit cards charge foreign transaction fees?
Many do, along with possible ATM fees abroad. Check your bank’s fee schedule before you travel.
Results are estimates for general information, not financial advice. Confirm rates, fees and terms with your card issuer or bank. See our methodology.