Foreign Exchange Fees: Hidden Costs of Travel
Traditional banks charge 2-5% on foreign transactions through exchange rate markups and fees. Multi-currency accounts reduce costs to 0.5-1% or less.
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Traditional banks charge 2-5% on foreign transactions through exchange rate markups and fees. Multi-currency accounts reduce costs to 0.5-1% or less.
Multi-currency accounts reduce foreign exchange fees by up to 3% compared to traditional banks, saving frequent travelers hundreds annually.