Summer Travelers Can Save Hundreds on Foreign Transaction Fees by Choosing the Right Credit Card

As summer vacation approaches, travelers are advised to carefully select their credit cards to avoid high foreign transaction fees, which can vary significantly and save hundreds of shekels per trip. According to the financial program "Tzeva HaKesef" on Kan News Radio Network B, traditional bank credit cards typically charge the highest fees, around 3% per foreign currency transaction. Bank Leumi, Discount Bank, and the International Bank lead with the maximum 3% fee, followed by Bank Hapoalim at 2.9% and Mizrahi Tefahot at 2.7%. An exception is the digital bank One Zero, which charges 0% commission, only applying the exchange rate margin.

In contrast, non-bank and club credit cards offer much lower fees due to competition. Max's "Reut Takni Li" and "Kaze Ani Rotze" cards charge just 1%, though card fees should be noted. Secret Flights offers 0% to 1% fees on foreign purchases. Clubs such as Hightechzone, Haver, and the Histadrut's "Together for You" club maintain a 1% fee, while youth and student cards like "Campus Card" typically charge between 1% and 1.5%. Additionally, digital foreign currency wallets like PassportCard offer 0% fees but only during the period when the user holds the company's travel insurance and is covered.

A key tip for travelers is to always pay in the local currency of the country they are visiting and never agree to be charged in shekels abroad, to avoid unfavorable currency conversion fees. This advice comes alongside other financial tips for managing expenses during holidays and economic challenges expected in 2026.