Which credit card has no conversion fees?

Several Canadian credit cards do not charge any conversion fees on foreign currency transactions, including four from Scotiabank. The best options depend on the rewards, insurance, and benefits you're looking for.

How much do credit card conversion fees cost?

Most Canadian credit cards add approximately 2.5% in conversion fees on purchases made in a foreign currency.

Is a no-fx fee credit card useful when traveling?

Yes. It can be particularly advantageous for frequent travelers, purchases in the United States, or transactions made with international merchants.

What is the best no-fx fee credit card in Canada?

The best card depends on your profile. Compare rewards, travel insurance, annual fees, and benefits before choosing. Some cards stand out, such as the Scotiabank Passport™ Visa Infinite +* Card, which was named the best no-fx fee credit card in 2026.

Are prepaid cards with no conversion fees a good option?

Yes, they can be suitable for travelers who want to control their spending. However, they generally offer fewer benefits than a traditional credit card.

Can you avoid foreign transaction fees with a debit card?

Most Canadian debit cards also apply conversion fees abroad. However, some institutions offer multi-currency accounts or cards with no fees, which can complement a credit card with no foreign transaction fees.