{"id":48056,"date":"2024-05-19T08:05:00","date_gmt":"2024-05-19T12:05:00","guid":{"rendered":"https:\/\/milesopedia.com\/news\/how-to-save-on-foreign-currency-transactions"},"modified":"2026-03-19T15:12:25","modified_gmt":"2026-03-19T19:12:25","slug":"save-foreign-currency","status":"publish","type":"post","link":"https:\/\/milesopedia.com\/en\/guide\/strategy\/save-foreign-currency\/","title":{"rendered":"Guide: How to Save on Foreign Currency Transactions"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;]<\/p>\n<p>You live in Canada and use a credit card to pay for all your day-to-day transactions. But what about when you leave the country, whether to the U.S. or elsewhere in the world? <\/p>\n<p>Before we reveal the best solutions for saving money on <strong>foreign currency transactions<\/strong>, a quick reminder of the different possibilities.<\/p>\n<p>[\/vc_column_text][vc_message icon_fontawesome=&#8221;fas fa-credit-card&#8221; css=&#8221;&#8221;]<\/p>\n<p><a href=\"#cartes\">Go directly to the list of the three best credit cards with no foreign currency conversion fees<\/a>.<\/p>\n<p>[\/vc_message][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;&#8221; el_id=&#8221;&#8221; el_id=&#8221;&#8221; text=&#8221;Foreign Currency Transaction Examples&#8221; el_id=&#8221;les_diff_rentes_possibilit_s_de_transactions_en_devises_trang_res&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>There are three main ways to pay when you&#8217;re travelling:<\/p>\n<ul>\n<li>Currency exchange at the exchange office<\/li>\n<li>ATM cash withdrawals<\/li>\n<li>Card payments<\/li>\n<\/ul>\n<p>Let&#8217;s take a look at each method in detail, and see which techniques are best for avoiding paying more than you need to.<\/p>\n<p>[\/vc_column_text][vc_single_image image=&#8221;48002&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-1&#8243; el_id=&#8221;-1&#8243; el_id=&#8221;-1&#8243; text=&#8221;Currency Converter&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;convertisseur_de_devises&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>To find out the official rates for the various currencies, visit the <a target=\"_blank\" href=\"https:\/\/www.banqueducanada.ca\/taux\/taux-de-change\/convertisseur-de-devises\/\">Bank of Canada<\/a> website. Google has also integrated a currency converter into its search engine. For example, simply enter <em>1 CAD in USD<\/em> to obtain the current US dollar rate.<\/p>\n<p>[\/vc_column_text][vc_single_image image=&#8221;377056&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_shadow&#8221; css=&#8221;&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-2&#8243; el_id=&#8221;-2&#8243; el_id=&#8221;-2&#8243; text=&#8221;Exchanging Canadian Dollars at the Exchange Office&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;_changer_ses_dollars_canadiens_au_bureau_de_change&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Exchanging Canadian dollars before you leave ensures that you&#8217;ll be able to pay virtually every merchant you meet&#8230; but it&#8217;s not the best technique for several reasons.<\/p>\n<p>[\/vc_column_text][vc_message color=&#8221;danger&#8221; message_box_color=&#8221;danger&#8221; icon_fontawesome=&#8221;fa fa-times&#8221;]<strong>Avoid currency exchange at an airport<\/strong>. It&#8217;s a last-minute solution, and the exchange offices know it well: fees will be much higher, whether at your departure or arrival airport.[\/vc_message][vc_custom_heading el_id=&#8221;-3&#8243; el_id=&#8221;-3&#8243; el_id=&#8221;-3&#8243; text=&#8221;Drawback no.1 &#8211; Foreign Exchange Transaction Fees&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;inconv_nient_1_les_frais_d_op_rations_de_change&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Whether in Canada or on arrival in the country you&#8217;re visiting, you can exchange your Canadian dollars for the local currency. As <strong>exchange office<\/strong> transactions are very costly, this is the technique we recommend least. <\/p>\n<p>This is called an <strong>exchange fee or currency conversion<\/strong>: the exchange office sells you foreign currency in exchange for your Canadian dollars at the rate it wants. This rate will include a hidden <strong>exchange fee<\/strong> . <\/p>\n<p>By comparing it with the market rate, you can calculate the approximate cost of the operation and how much you&#8217;ll be overcharged.<\/p>\n<p>[\/vc_column_text][vc_message icon_fontawesome=&#8221;fas fa-calculator&#8221; css=&#8221;&#8221;]<\/p>\n<p>Example: the market rate for <span class=\"nowrap\">1 USD<\/span> is <span class=\"nowrap\">1.30 CAD<\/span>. If your bureau de change sells you the same 1 USD at <span class=\"nowrap\">1.35 CAD<\/span>, it will charge you <span class=\"nowrap\">3.8%<\/span>. <\/p>\n<p>For a transaction worth <span class=\"nowrap\">USD 1,000<\/span>, you&#8217;ll pay <span class=\"nowrap\">CAD 1,350<\/span>. The <strong>exchange fee<\/strong> here is around <span class=\"nowrap\">CAD 50<\/span>.<\/p>\n<p>[\/vc_message][vc_single_image image=&#8221;22923&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][vc_custom_heading el_id=&#8221;-4&#8243; el_id=&#8221;-4&#8243; el_id=&#8221;-4&#8243; text=&#8221;Disadvantage #2: The Inherent Risk of Carrying Money&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;inconv_nient_2_le_risque_inh_rent_au_transport_d_argent&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>If your wallet is stolen, there&#8217;s no recourse, unlike with credit cards!<\/p>\n<p>Around the world, we are increasingly moving towards digital payment solutions. In some countries, cash is no longer accepted for services as basic as cabs.<\/p>\n<p>However, it&#8217;s always a good idea to have some local money on hand when you travel to a foreign country.<\/p>\n<p>[\/vc_column_text][vc_message color=&#8221;info&#8221; css=&#8221;&#8221;]<\/p>\n<p>Personally, for any destination in the world, I make sure I have the equivalent of <span class=\"nowrap\">100 CAD<\/span> in local currency, so I&#8217;m not caught unprepared&#8230; just long enough to be able to withdraw money once I&#8217;m there, but above all to pay with my credit cards. And I always bring along a few <span class=\"nowrap\">US$20 <\/span> bills: no one will turn you down!<\/p>\n<p>[\/vc_message]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"217813\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-5&#8243; el_id=&#8221;-5&#8243; el_id=&#8221;-5&#8243; text=&#8221;Withdrawing Cash Abroad&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;les_retraits_d_argent_l_tranger&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>There are two ways to withdraw money in another country:<\/p>\n<ul>\n<li>With a debit card<\/li>\n<li>With a credit card<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_message icon_fontawesome=&#8221;fas fa-credit-card&#8221; css=&#8221;&#8221;]<\/p>\n<p><a href=\"#cartes\">Go directly to the list of the three best credit cards with no foreign currency conversion fees<\/a>.<\/p>\n<p>[\/vc_message][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-6&#8243; el_id=&#8221;-6&#8243; el_id=&#8221;-6&#8243; text=&#8221;Withdrawing Cash Abroad with a Canadian Debit Card&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; el_id=&#8221;retirer_de_l_argent_l_tranger_avec_une_carte_de_d_bit_canadienne&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>The debit card gives you direct access to the funds in your chequing or savings account.<\/p>\n<p>Beware, however, of several aspects:<\/p>\n<ul>\n<li>Your card network (Visa or Mastercard): some ATMs may refuse to accept one of these networks.<\/li>\n<li>Pre-set limits: your card issuer limits the amount you can withdraw per withdrawal and\/or per week. Find out before you leave, and adjust the limits accordingly.<\/li>\n<li>Fees: there will be several fees depending on your card:\n<ul>\n<li><strong>Foreign exchange \/ currency conversion charges<\/strong>: a rate decided by your card issuer;<\/li>\n<li><strong>Withdrawal fees<\/strong>: fixed fees per withdrawal or variable fees depending on the amount withdrawn;<\/li>\n<li><strong>ATM fees<\/strong>: fixed fees charged by the ATM operator.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_single_image image=&#8221;48008&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Some debit cards are more advantageous than others for withdrawals abroad.<\/p>\n<p>Scotia and Tangerine are members of Global Alliance, a group of banks that allow their customers to <strong>withdraw cash free of charge from partner bank ATMs.<\/strong> However, you will pay the rate dictated by the bank and will not be able to save on <a href=\"https:\/\/milesopedia.com\/en\/reviews\/products\/review-xe-com-currency-transfer\/\" target=\"_blank\" rel=\"noopener\">foreign currency<\/a> conversion charges.<\/p>\n<p>For example, holders of a Scotia or Tangerine debit card can<strong> make free withdrawals <\/strong>from Bank of America ATMs in the U.S. or BNP Paribas ATMs in France.<\/p>\n<p>[\/vc_column_text][vc_single_image image=&#8221;48010&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_shadow&#8221; css=&#8221;&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-7&#8243; el_id=&#8221;-7&#8243; el_id=&#8221;-7&#8243; text=&#8221;Withdrawing Cash Abroad with a Canadian Credit Card&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; el_id=&#8221;retirer_de_l_argent_l_tranger_avec_une_carte_de_cr_dit_canadienne&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>The same warnings apply to credit cards as to debit card withdrawals.<\/p>\n<p>However, other, much heavier fees will be added, as the credit card is primarily <strong>a means of payment<\/strong> and not a means of cash withdrawal!<\/p>\n<p>Issuers will then charge a cash advance interest rate (between <span class=\"nowrap\">20%<\/span> and <span class=\"nowrap\">30%<\/span>) plus a withdrawal fee.<\/p>\n<p>[\/vc_column_text][vc_message color=&#8221;warning&#8221; message_box_color=&#8221;warning&#8221; icon_fontawesome=&#8221;fas fa-exclamation-triangle&#8221; css=&#8221;&#8221;]<\/p>\n<p>We therefore advise you not to withdraw money with your credit card unless you manage your balance well, i.e. make sure you have a credit balance before withdrawing and making future purchases with your credit card.<\/p>\n<p>[\/vc_message][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>If you find yourself in an emergency situation and need to withdraw money from your credit card, we advise you to pay off your credit card in full immediately.<\/p>\n<p>In fact, interest on cash advances starts to accrue <strong>as soon as you withdraw<\/strong>!<\/p>\n<p>[\/vc_column_text][vc_message color=&#8221;warning&#8221; message_box_color=&#8221;warning&#8221; icon_fontawesome=&#8221;fas fa-exclamation-triangle&#8221; css=&#8221;&#8221;]<\/p>\n<p>Some people recommend <strong>setting up a positive or credit balance<\/strong> on the credit card to avoid these fees.<\/p>\n<p>However, this doesn&#8217;t always work: it will be case by case, depending on the institution. What&#8217;s more, if your card is ever defrauded, you <strong>run the risk of not being insured by the issuer for the &#8220;credit&#8221; portion.<\/strong><\/p>\n<p>[\/vc_message][vc_single_image image=&#8221;48004&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-8&#8243; el_id=&#8221;-8&#8243; el_id=&#8221;-8&#8243; text=&#8221;Withdrawing Cash Abroad While Avoiding Foreign Exchange Fees&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;retirer_de_l_argent_l_tranger_en_vitant_les_frais_de_conversion&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>If you&#8217;re a globetrotter or a professional on the move, currency conversion fees can quickly add up when withdrawing abroad. Fortunately, there are ways to minimize these costs. <a href=\"https:\/\/milesopedia.com\/en\/reviews\/credit-cards\/prepaid-cards-no-fx-canada\/\">Two notable options<\/a> are the <a href=\"https:\/\/milesopedia.com\/en\/reviews\/products\/card-wise-withdrawal-foreign-currency\/\">Wise card<\/a> and the <a title=\"Wealthsimple Chequing\" href=\"https:\/\/milesopedia.com\/en\/go\/wealthsimple-cash\/\" rel=\"noindex\">Wealthsimple prepaid Mastercard<\/a>.<\/p>\n<p>[\/vc_column_text][vc_custom_heading el_id=&#8221;-9&#8243; el_id=&#8221;-9&#8243; el_id=&#8221;-9&#8243; text=&#8221;WISE Card&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;carte_wise&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>The <a title=\"Wise\" href=\"https:\/\/milesopedia.com\/en\/go\/wise-visa-card\/\" rel=\"noindex\">Visa Debit Wise card<\/a> is a reliable option for<strong> foreign currency withdrawals<\/strong>. Formerly known as Transferwise, Wise is an international money transfer service offering low fees on foreign currency withdrawals.<\/p>\n<p>Once you have your <a title=\"Wise\" href=\"https:\/\/milesopedia.com\/en\/go\/wise-visa-card\/\" rel=\"noindex\">Wise account<\/a> and your Visa Debit card, you can add money to your account in Canadian dollars and make withdrawals or purchases in the currency of the country where you are located. <strong>Conversion fees <\/strong>are much lower than those for traditional credit cards. In France, for example, the fee is <span class=\"nowrap\">0.53%<\/span>, while in Morocco it&#8217;s <span class=\"nowrap\">1.53%<\/span>. <\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"381436\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/div><div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='s-h'\n\t\t\t\tdata-post_type='post'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_post container_template--s-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"post_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"247123\"\n\t\t\t\t\t\t\t>\n\t\t<article class=\"post-preview\">\n\t<div class=\"post-preview-thumbnail\">\n\t\t<div class=\"shimmer shimmer-image\"><\/div>\n\t<\/div>\n\t<div class=\"post-preview-content\">\n\t\t<div class=\"simmer-bar-group\">\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/article>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading el_id=&#8221;-10&#8243; el_id=&#8221;-10&#8243; el_id=&#8221;-10&#8243; text=&#8221;Wealthsimple prepaid Mastercard&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;carte_pr_pay_e_mastercard_wealthsimple&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>The<a title=\"Wealthsimple Chequing\" href=\"https:\/\/milesopedia.com\/en\/go\/wealthsimple-cash\/\" rel=\"noindex\"> Wealthsimple prepaid Mastercard<\/a> is an all-in-one financial platform that combines a chequing account, a high-interest savings account, and a prepaid Mastercard. For travellers, this card is an excellent option for avoiding conversion charges on foreign currency expenses.<\/p>\n<p>The <a title=\"Wealthsimple Chequing\" href=\"https:\/\/milesopedia.com\/en\/go\/wealthsimple-cash\/\" rel=\"noindex\">Wealthsimple prepaid Mastercard<\/a> <strong>does not charge any fees for ATM withdrawals<\/strong> or <strong>foreign currency conversions<\/strong> worldwide, with no monthly limits.<\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"381433\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-11&#8243; el_id=&#8221;-11&#8243; el_id=&#8221;-11&#8243; text=&#8221;Card Payments Abroad&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;les_paiements_par_carte_l_tranger&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>After withdrawals, let&#8217;s move on to payment with your debit and credit cards abroad. First, an important reminder:<\/p>\n<p>[\/vc_column_text][vc_message color=&#8221;warning&#8221; message_box_color=&#8221;warning&#8221; icon_fontawesome=&#8221;fas fa-exclamation-triangle&#8221; css=&#8221;&#8221;]<\/p>\n<p><strong>ALWAYS choose to pay in local currency and not in Canadian dollars<\/strong>!<\/p>\n<p>The exchange rate is free&#8230; and is always at a disadvantage compared with the rate charged by your bank.<\/p>\n<p>[\/vc_message][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Recently, in Greece, I noticed that if I chose to pay in Canadian dollars, the merchant charged me a <strong><span class=\"nowrap\">10%<\/span> conversion fee<\/strong>. When I chose to pay in euros with my<a class=\"thirstylink\" title=\"Scotiabank Passport\u2122 Visa Infinite* Card\" href=\"https:\/\/milesopedia.com\/en\/credit-cards\/scotiabank-passport-visa-infinite-card\/\" target=\"_blank\" rel=\"noopener\"> Scotiabank Passport<sup>&reg;<\/sup> Visa Infinite* Card<\/a>, these fees were reduced to <span class=\"nowrap\">0%<\/span>!<\/p>\n<p>[\/vc_column_text][vc_message icon_fontawesome=&#8221;fas fa-credit-card&#8221; css=&#8221;&#8221;]<\/p>\n<p><a href=\"#cartes\">Go directly to the list of the three best credit cards with no foreign currency conversion fees<\/a>.<\/p>\n<p>[\/vc_message][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-12&#8243; el_id=&#8221;-12&#8243; el_id=&#8221;-12&#8243; text=&#8221;Paying Abroad with a Canadian Debit Card&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; el_id=&#8221;payer_l_tranger_avec_une_carte_de_d_bit_canadienne&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>As with withdrawals, foreign currency payments with a Canadian debit card will be impacted by preset limits and various fees.<\/p>\n<p>However, this may save you from having to carry cash with you from Canada, which may reassure some people. However, we prefer the alternative: payment with a Canadian credit card.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-13&#8243; el_id=&#8221;-13&#8243; el_id=&#8221;-13&#8243; text=&#8221;Paying Abroad with a Canadian Credit Card&#8221; font_container=&#8221;tag:h4|text_align:left&#8221; el_id=&#8221;payer_l_tranger_avec_une_carte_de_cr_dit_canadienne&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Most Canadian credit cards allow you to pay merchants directly when travelling abroad.<\/p>\n<p>However, each transaction is subject to different fees:<\/p>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\" border=\"1\">\n<thead>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"> <\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><strong>Withdrawal at the counter<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><strong>Card purchase<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Cash advance fee<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">% of amount withdrawn and\/or fixed fee in<\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><span style=\"color: #ff0000;\"><strong>Conversion fee<\/strong><\/span><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span style=\"color: #ff0000;\"><strong>Between 0 and <span class=\"nowrap\">5%<\/span> of amount<\/strong><\/span><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span style=\"color: #ff0000;\"><strong>Between 0 and <span class=\"nowrap\">5%<\/span> of amount<\/strong><\/span><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Visa \/ Mastercard network fee<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">Between 0 and <span class=\"nowrap\">2%<\/span> of amount<\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">Between 0 and <span class=\"nowrap\">2%<\/span> of amount<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Interest charges on cash advances<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span class=\"nowrap\">20-30%<\/span> per annum with no grace period<\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Interest expense on purchases<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">Between 15% and <span class=\"nowrap\">30%<\/span> per year with grace period<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Distributor fees<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">Between $0 and <span class=\"nowrap\">$10<\/span><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Let&#8217;s now take the same table, with a <span class=\"nowrap\">$1,000<\/span> purchase or withdrawal with the most common Canadian credit card fees:<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\" border=\"1\">\n<thead>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"> <\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><strong>Withdrawal at the counter<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><strong>Card purchase<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Cash advance fee<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span class=\"nowrap\">7,50&nbsp;$<\/span><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><span style=\"color: #ff0000;\"><strong>Conversion fee<\/strong><\/span><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span style=\"color: #ff0000;\"><strong><span class=\"nowrap\">2,5&nbsp;%<\/span> = <span class=\"nowrap\">25<\/span> $<\/strong><\/span><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span style=\"color: #ff0000;\"><strong><span class=\"nowrap\">2,5&nbsp;%<\/span> = <span class=\"nowrap\">25<\/span> $<\/strong><\/span><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Visa \/ Mastercard network fee<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">1<span class=\"nowrap\">%<\/span> = <span class=\"nowrap\">10<\/span> $<\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">1<span class=\"nowrap\">%<\/span> = <span class=\"nowrap\">10<\/span> $<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Interest charges on cash advances<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span class=\"nowrap\">20&nbsp;%<\/span> = <span class=\"nowrap\">17<\/span> $*<\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Interest expense on purchases<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">-**<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 33.3333%; height: 24px;\"><strong>Distributor fee<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\"><span class=\"nowrap\">5&nbsp;$<\/span><\/td>\n<td style=\"width: 33.3333%; text-align: center; height: 24px;\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 33.3333%;\"><strong>Total fees per $1,000<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center;\"><strong><span class=\"nowrap\">47,50<\/span> <span class=\"nowrap\">$ \u00e0 64,50<\/span> $<\/strong><\/td>\n<td style=\"width: 33.3333%; text-align: center;\"><span class=\"nowrap\"><strong>35&nbsp;$<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><em>* Interest charges on cash advances apply from the time of withdrawal, without any grace period: to avoid them, pay off your credit card immediately!<\/em><br \/><em>**We take it for granted that you pay your credit card balance on time to avoid interest charges on purchases.  <\/em><\/p>\n<p>As you can see, for $1,000 withdrawn at an ATM with a credit card, you&#8217;ll pay between $45 and <span class=\"nowrap\">$65<\/span> in fees! If you make a transaction, the fee is <span class=\"nowrap\">$35<\/span>.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row el_id=&#8221;cards&#8221;][vc_column][vc_custom_heading el_id=&#8221;-14&#8243; el_id=&#8221;-14&#8243; el_id=&#8221;-14&#8243; text=&#8221;Best No Foreign Transaction Fee Credit Cards&#8221; css=&#8221;&#8221; el_id=&#8221;les_meilleures_cartes_de_cr_dit_sans_frais_de_conversion&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;links&#8221;]<\/p>\n<p>Four credit cards issued by major Canadian banks charge no conversion fees for foreign currency transactions:<\/p>\n<ul>\n<li><a class=\"thirstylink\" title=\"Scotiabank Passport\u2122 Visa Infinite* Card\" href=\"https:\/\/milesopedia.com\/en\/credit-cards\/scotiabank-passport-visa-infinite-card\/\" target=\"_blank\" rel=\"noopener\">Scotiabank Passport\u2122 Visa Infinite* Card<\/a><\/li>\n<li><a href=\"https:\/\/milesopedia.com\/en\/credit-cards\/scotiabank-gold-american-express-card\/\">Scotiabank Gold American Express<sup>&reg;<\/sup> Card<\/a><\/li>\n<li><a href=\"https:\/\/milesopedia.com\/en\/credit-cards\/scotiabank-platinum-american-express\/\">Scotiabank Platinum American Express<sup>&reg;<\/sup> Card<\/a><\/li>\n<li><a title=\"Scotiabank Passport Visa Infinite Privilege Card\" href=\"https:\/\/milesopedia.com\/en\/go\/scotiabank-passport-visa-infinite-privilege-card\/\" rel=\"noindex\">Scotiabank Passport Visa Infinite Privilege Card<\/a><\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_single_image image=&#8221;323754&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; css=&#8221;&#8221;]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='compare'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--compare container_count--4'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22642,22640,22641,434951\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t\n    <div class=\"card card-list card-list-header\">\n        <div class=\"shimmer shimmer-bar shimmer-dark shimmer-bar--short card-specs--title\"><\/div>\n        <div class=\"shimmer shimmer-bar shimmer-dark shimmer-bar--short card-specs--title\"><\/div>\n    <\/div>\n\n\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading el_id=&#8221;-15&#8243; el_id=&#8221;-15&#8243; el_id=&#8221;-15&#8243; text=&#8221;Scotiabank Passport\u2122 Visa Infinite* Card&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; el_id=&#8221;carte_visa_infinite_passeport_banque_scotia&#8221;]<p>With this welcome offer for the <strong>Scotiabank Passport Visa Infinite Card<\/strong>, you get up to <strong>60,000 bonus Scene+ points<\/strong> (a <strong>$600 value<\/strong>):<\/p>\n<ul>\n<li><strong>40,000 points<\/strong> after $2,000 in purchases within the first three months<\/li>\n<li><strong>10,000 points<\/strong> after $10,000 in purchases within the first six months<\/li>\n<li>10,000 points after $40,000 in purchases in the first year<\/li>\n<\/ul>\n<p>Then, each year, if you make at least $40,000 in purchases on the card, you&rsquo;ll earn an annual bonus of at least 10,000 points, <strong>a value of $100<\/strong>. <\/p>\n<p>With the Scotiabank Passport Visa Infinite Card, you earn <strong>3 points per dollar spent<\/strong> at Sobeys, <strong>IGA<\/strong>, Safeway, Foodland, FreshCo, Voil\u00e0 by Sobeys, Voil\u00e0 by IGA, Voil\u00e0 by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les March\u00e9s Tradition, Rachelle B\u00e9ry and Co-Op. <\/p>\n<p>You&rsquo;ll also earn <strong>2 points for every dollar you spend, <\/strong>including on foreign purchases, in the following categories:<\/p>\n<ul>\n<li>Grocery shopping<\/li>\n<li>Restaurants<\/li>\n<li>Entertainment centers<\/li>\n<li>Transit<\/li>\n<\/ul>\n<p>The Scotiabank Visa Infinite Passport is an excellent Visa credit card for this type of purchase.<\/p>\n<p>These points can be used against any travel purchase at the rate of <strong><strong>1,000<\/strong> points = $10<\/strong> (flights, hotels, all-inclusives and even Airbnb). You can also redeem your points for cash back at Scene+, for example, at your local grocery store checkout at the same rate of 1,000 points = $10. <\/p>\n<p>The Scotiabank Visa Infinite Passport also offers&nbsp;:<\/p>\n<ul>\n<li><strong>No fees for foreign currency transactions<\/strong><\/li>\n<li>6 access to VIP airport lounges<\/li>\n<li>Excellent insurance for your travels and purchases<\/li>\n<li>Concierge service<\/li>\n<\/ul>\n<p>We have named this credit card the <strong>Best Credit Card with No Foreign Transaction Fees<\/strong> in 2024, 2025, and 2026.<\/p>\n<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22642\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading el_id=&#8221;-16&#8243; el_id=&#8221;-16&#8243; el_id=&#8221;-16&#8243; text=&#8221;Scotiabank Gold American Express<sup>&reg;<\/sup> Card&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; el_id=&#8221;carte_american_express_or_de_la_banque_scotia&#8221;]<p>The <strong>Scotiabank Gold American Express Card<\/strong> offers an excellent welcome bonus.<\/p>\n<p><strong>Until July 1, 2026<\/strong>, you can get up to <strong>45,000 Scene+ points<\/strong> as a bonus, distributed as follows:<\/p>\n<ul>\n<li><strong>25,000 Scene+ points<\/strong> by spending $2,000 on the card within the first 3 months<\/li>\n<li><strong>20,000 Scene+ points<\/strong> by making $7,500 in purchases on the card in the first year<\/li>\n<\/ul>\n<p>This represents <strong>a value of up to $450<\/strong> for travel (including Airbnb). <\/p>\n<p>With the Scotiabank Gold American Express Card, you earn <strong>6 points per dollar spent<\/strong> at Sobeys, IGA, Safeway, Foodland, FreshCo, Voil\u00e0 by Sobeys, Voil\u00e0 par IGA, Voil\u00e0 by Safeway, Chalo! grocery stores. FreshCo, Thrifty Foods, IGA West, Les March\u00e9s Tradition, Rachelle B\u00e9ry and Co-Op.<\/p>\n<p>Also, you earn <strong>5 points per dollar<\/strong> for:<\/p>\n<ul>\n<li>Grocery stores<\/li>\n<li>Restaurants<\/li>\n<li>Entertainment centers<\/li>\n<\/ul>\n<p>And <strong>3 points per dollar<\/strong> on gas, transit and streaming services purchases.<\/p>\n<p>You can redeem your points on travel purchases (flights, hotels, all-inclusive and even Airbnb). You can also use your points as cash back rewards with Scene+.<\/p>\n<p>The Scotiabank Gold American Express Card also offers <strong>no foreign transaction fees<\/strong>, excellent insurance for your travel or purchases, concierge service, exclusive American Express benefits like the Front of the Line program.<\/p>\n<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22640\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading el_id=&#8221;-17&#8243; el_id=&#8221;-17&#8243; el_id=&#8221;-17&#8243; text=&#8221;Scotiabank Platinum American Express<sup>&reg;<\/sup> Card&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; el_id=&#8221;carte_american_express_platine_de_la_banque_scotia&#8221;]<p>For a limited time, by subscribing to Scotiabank Platinum American Express\u00ae Card, you can earn up to <strong>80,000 points<\/strong>. That&rsquo;s <strong>a value of $800<\/strong> for trips including Airbnb.<\/p>\n<p>With Scotiabank Platinum American Express\u00ae Card, you earn <strong>2 points per dollar spent on all your purchases<\/strong>. You can redeem your points on travel purchases (flights, hotels, all-inclusive and even Airbnb). And you can also use them for other rewards in the Scene+ program, such as cash back.<\/p>\n<p>What&rsquo;s more, with this card you pay <strong>no fees for foreign currency transactions<\/strong>, and you get 10 free accesses to airport VIP lounges like Priority Pass and Premium Plaza.<\/p>\n<p>And you get excellent insurance for your travels or purchases, concierge service, and exclusive American Express Offers (American Express Invites Program).<\/p>\n<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22641\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/div>[vc_custom_heading el_id=&#8221;-18&#8243; el_id=&#8221;-18&#8243; el_id=&#8221;-18&#8243; text=&#8221;Scotiabank Passport Visa Infinite Privilege* Card&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;carte_visa_infinite_privil_ge_passeport_banque_scotia&#8221;]<p>With this welcome offer for the Scotia Passport Visa Infinite Privilege Card, you can earn up to <strong>100,000 bonus Scene+ points<\/strong> (a $1,000 value):<\/p>\n<ul>\n<li>30,000 points by making at least $3,000 in everyday eligible purchases in your first 3 months.<\/li>\n<li>45,000 points after $20,000 in purchases in the first six months<\/li>\n<li>25,000 points by making an eligible purchase in the 14th month after account opening<\/li>\n<\/ul>\n<p>With the Scotiabank Passport Visa Infinite Privilege Card, you earn:<\/p>\n<ul>\n<li><strong>3X Scene+ points<\/strong> for every $1 in <strong>eligible travel<\/strong> purchases<\/li>\n<li><strong>2X Scene+ points<\/strong> for every $1 in eligible purchases at <strong>dining<\/strong> and <strong>entertainment<\/strong> establishments<\/li>\n<li>1X Scene+ points for every dollar spent on all other eligible purchases<\/li>\n<\/ul>\n<p><strong>Including on foreign purchases<\/strong>, with no foreign transaction fees.<\/p>\n<p>The Scotiabank Passport Visa Infinite Privilege Card is an excellent Visa credit card for this type of purchase.<\/p>\n<p>These points can be used against any travel purchase at the rate of <strong><strong>1,000<\/strong> points = <strong>$10<\/strong><\/strong> (flights, hotels, all-inclusives and even Airbnb). You can also redeem your points for cash back at Scene+, for example, at your local grocery store checkout at the same rate of 1,000 points = $10.<\/p>\n<p>The Scotiabank Passport Visa Infinite Privilege Card also offers:<\/p>\n<ul>\n<li><strong>No fees for foreign currency transactions<\/strong><\/li>\n<li>10 complimentary airport lounge visits per year<\/li>\n<li>$250 annual travel credit<\/li>\n<li>Excellent insurance for your travels and purchases<\/li>\n<li>Concierge service<\/li>\n<\/ul>\n<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"434951\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/div>[vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Discover all its advantages in our article on <a href=\"https:\/\/milesopedia.com\/en\/reviews\/credit-cards\/travel-benefits-scotiabank-passport-visa-infinite-privilege\/\" target=\"_blank\" rel=\"noopener\">How to maximize the travel benefits<\/a> of this card.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_custom_heading el_id=&#8221;-19&#8243; el_id=&#8221;-19&#8243; el_id=&#8221;-19&#8243; text=&#8221;Benefits of No Foreign Transaction Fee Credit Cards&#8221; css=&#8221;&#8221; el_id=&#8221;les_avantages_des_cartes_de_cr_dit_sans_frais_de_conversion&#8221;][vc_custom_heading el_id=&#8221;-20&#8243; el_id=&#8221;-20&#8243; el_id=&#8221;-20&#8243; text=&#8221;Conversion fee: 0%!&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; css=&#8221;&#8221; el_id=&#8221;frais_de_conversion_0_&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Thanks to this advantage,<strong> you save <span class=\"nowrap\">2.<\/span><\/strong>5% on each transaction.<\/p>\n<p>In most cases, the exchange rate obtained will be very close to the official rate. In any case, it will be much more advantageous than that of the exchange offices. <\/p>\n<p>[\/vc_column_text][vc_custom_heading el_id=&#8221;-21&#8243; el_id=&#8221;-21&#8243; el_id=&#8221;-21&#8243; text=&#8221;No Need to Carry Foreign Currency&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; el_id=&#8221;absence_de_transport_de_devises_trang_res&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>One of a traveller&#8217;s many fears: having your money stolen! As mentioned above, if your cash is stolen, you have absolutely no recourse. By using your credit card, you eliminate this risk.<\/p>\n<p>[\/vc_column_text][vc_custom_heading el_id=&#8221;-22&#8243; el_id=&#8221;-22&#8243; el_id=&#8221;-22&#8243; text=&#8221;Fraud Insurance&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; el_id=&#8221;assurance_contre_la_fraude&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Has your credit card been compromised and money taken from your account? No problem: you&#8217;re not responsible. Upon review, your credit card issuer will refund money improperly taken from your account.<\/p>\n<p>[\/vc_column_text][vc_custom_heading el_id=&#8221;-23&#8243; el_id=&#8221;-23&#8243; el_id=&#8221;-23&#8243; text=&#8221;Higher Limits&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; el_id=&#8221;limites_plus_lev_es&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Debit cards often restrict the number of withdrawals and payments you can make. This is not the case with a credit card:<strong> the limit will be whatever the bank gives you <\/strong><span class=\"nowrap\">($5,000<\/span>, <span class=\"nowrap\">$10,<\/span> 000 or even more).<\/p>\n<p>[\/vc_column_text][vc_custom_heading el_id=&#8221;-24&#8243; el_id=&#8221;-24&#8243; el_id=&#8221;-24&#8243; text=&#8221;Earning Reward Points&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; el_id=&#8221;accumulation_de_points_de_r_compenses&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>Finally, a very important aspect for rewards point hunters: every transaction on your credit card will earn you points!<\/p>\n<p>For the <a href=\"https:\/\/milesopedia.com\/en\/credit-cards\/scotiabank-gold-american-express-card\/\">Scotiabank Gold American Express Card,<\/a> all purchases made abroad will earn 1 point per dollar. However, Canadian purchase categories are more attractive: <a href=\"https:\/\/milesopedia.com\/en\/offres\/cartes\/new-offer-scotiabank-gold-american-express\/\">up to 6 points per dollar<\/a>. Points that you can then <a href=\"https:\/\/milesopedia.com\/en\/guide\/tutorials\/use-points-purchase\/\" target=\"_blank\" rel=\"noopener\">easily apply to your travel purchases<\/a>.<\/p>\n<p>[\/vc_column_text][vc_single_image image=&#8221;48006&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][vc_custom_heading el_id=&#8221;-25&#8243; el_id=&#8221;-25&#8243; el_id=&#8221;-25&#8243; text=&#8221;Bottom Line&#8221; el_id=&#8221;conclusion&#8221;][vc_column_text css=&#8221;&#8221; el_class=&#8221;checkmarks&#8221;]<\/p>\n<p>As you can see, going abroad means anticipating your financial needs!<\/p>\n<p>While the solution of paying with a<strong> credit card that doesn&#8217;t charge foreign currency conversion fees <\/strong>is ideal, other options shouldn&#8217;t be put aside, for all the reasons given above.<\/p>\n<p>[\/vc_column_text]<div class=\"wpb_content_element wpb_miles_element\">\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22642\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/div>\n<div class=\"series-of-posts open-sop\">\n\t<input class=\"series-checkbox\" id=\"series-820\" type=\"checkbox\" name=\"expand-text\"  checked='checked'\/>\n\t<label class=\"series-title\" for=\"series-820\">\n\t\t\tLes strat\u00e9gies\t<\/label>\n\t<div class=\"series-of-posts-links\">\n\t\t\n\t\t<ol>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/milesopedia.com\/en\/guides\/strategies\/free-airport-lounge-access\/\"\n\t\t\t\t\t   class=\"\">\n\t\t\t\t\t\tHow to Get Free Airport Lounge Access?\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/milesopedia.com\/en\/guide\/strategy\/save-foreign-currency\/\"\n\t\t\t\t\t   class=\"series-link--active\">\n\t\t\t\t\t\tGuide: How to Save on Foreign Currency Transactions\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/milesopedia.com\/en\/guide\/strategy\/save-money-airbnb\/\"\n\t\t\t\t\t   class=\"\">\n\t\t\t\t\t\tGuide: How To Save On Airbnb With Points?\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/milesopedia.com\/en\/guide\/strategy\/save-money-hotels\/\"\n\t\t\t\t\t   class=\"\">\n\t\t\t\t\t\tGuide: Save On Hotels With Points\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/milesopedia.com\/en\/guide\/strategy\/save-money-flights\/\"\n\t\t\t\t\t   class=\"\">\n\t\t\t\t\t\tGuide: Save on Flights With Points\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t\t<\/ol>\n\t<\/div>\n\n<\/div>\n[\/vc_column][\/vc_row][vc_row][vc_column][vc_toggle title=&#8221;How can I get the best exchange rate abroad?&#8221; open=&#8221;true&#8221; css=&#8221;&#8221;]<\/p>\n<p>By paying with a no foreign transaction fee credit card or a prepaid card such as the Wise Visa or the Wealthsimple prepaid Mastercard.<\/p>\n<p>[\/vc_toggle][vc_toggle title=&#8221;When is the best time to exchange currencies?&#8221; open=&#8221;true&#8221; css=&#8221;&#8221;]<\/p>\n<p>When your trip is booked, do a little research on the rate trend. If the trend shows that the rate is falling against the Canadian dollar, go for it!  Otherwise, wait until closer to your trip.<\/p>\n<p>[\/vc_toggle][vc_toggle title=&#8221;How can I avoid conversion charges?&#8221; open=&#8221;true&#8221; css=&#8221;&#8221;]<\/p>\n<p>To avoid conversion fees when travelling, use credit cards without conversion fees, withdraw cash from local ATMs with a prepaid card, and refuse dynamic currency conversion when making purchases.<\/p>\n<p>[\/vc_toggle][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Discover our tips for saving on foreign currency transactions, whether for cash withdrawals or card payments.<\/p>","protected":false},"author":2464,"featured_media":380573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"on","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[48137],"tags":[],"mc_loyalty_program":[],"class_list":["post-48056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy","mc_market-all-of-canada","post_series-travel-hacking-strategies","tutorial-tips","tutorial-strategies-en"],"acf":{"mc_approved_badge":false,"mc_card_used":22642,"mc_featured_card_specific":"","mc_hide_featured_card":false,"mc_post_checklist":{"mc_post_checklist_true":null,"mc_post_checklist_false":null}},"yoast_head":"<!-- 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