The world is changing! And we do like it. Today, there are online banks that offer free debit card with no foreign transaction fees. A perfect deal to use abroad and especially when travelling to Colombia!
They’re the perfect solution for travelers who want to keep traditional bank charges to a minimum. We’ve tested them out on our various trips to Colombia, and we can tell you that we’re 100% behind the idea of using those banks for travelers!
These new no-fee debit cards are a revolution and a real alternative for all travelers, which it would be a real shame to overlook for three main reasons: it’s free, it’s practical and it saves you money!
Send money abroad free of charge
Simple, fast and the first transfer is completely free, we recommend the Remilty platform for sending money to Colombia (or elsewhere). Particularly useful for paying a deposit, for example.
Disclaimer: we apologize in advance for any grammatical or syntactic errors, as our native language is not English (we're a Colombian-French couple), so we hope you'll forgive us and still enjoy the information we share with you! Please note that all the information on our blog is based on our own experience, and is checked and updated regularly.
No-fee debit cards: the best banks for travelers
Find the best traveller’s bank
For some years now, we’ve been seeing the arrival of what specialists call “Neobanks”, a fashionable term for new-generation banks that rely on 100% digital banking. Some are dedicated to entrepreneurs, others are more geared towards travelers like us!
Who are these no-fee debit cards for abroad?
These new-generation bank accounts are aimed at two types of public:
- Those who want a no-fee debit card abroad for their travels (in parallel with their main bank account)
- Those who want to take advantage of free online banking as their main account (and enjoy the benefits for travelers in the process)
For example, we fall into the first category. We have our personal accounts in traditional banks and we opened an N26 accound and a Revolut account to use it during our travels and to be able to pay without bank charges abroad.
The best banks for travelers
For us, the most interesting offer on the market today are N26 and Revolut, pioneering services dedicated to travelers
We’ve been using those online banks for several years now and can’t recommend it highly enough. The debit card and account management are free, so there’s no reason not to use it alongside your traditional bank account.
Which card to choose for travel?
Best travel bank
As you can see, these new debit cards dedicated to travel have really become indispensable tools. Every self-respecting traveler should use one of these cards, which offer real savings on bank charges.
Choosing a no-fee debit card
The most cautious among you will choose a totally free card. In the case of N26 and Revolut, these are entry-level “Standard” cards.
To help you choose, here’s a summary of the advantages and disadvantages of each traveller’s bank.
Travel banks: Free debit cards abroad
N26 Standard
Benefits
- Free payments
- 1.7% low fee on withdrawal
- 100% free administration
- Serious German company
Disadvantages
- For European citizens only
- No free withdrawals
Revolut Standard
Benefits
- Free payments on week days
- 100% free administration
- $200 USD/month withdrawals no fee
- Switch currencies on the fly
- Credit by card
Disadvantages
- Small payment fees on week-ends
Choosing a debit card with no premium fees
Each of the banks we’ve recommended offers premium accounts with additional services that may be of interest to some of you.
From our point of view, it’s only worth choosing a premium account if you travel a lot, or intend to use it on a daily basis and/or make it your main bank account.
In which case, these accounts can be really interesting!
No-fee premium debit cards for travelers
N26 You
Additional benefits
- Unlimited free withdrawals
- Travel insurance
And much more..
Revolut Premium
Additional benefits
- Free withdrawals of $400/month
- Travel insurance
- Shopping insurance
- 1 free international transfer/month
And much more..
Our choice of no-fee debit cards
The best bank for travelers
We tested several debit cards for travelers, traveling with Revolut and N26.
So we were able to make an informed choice and advise you on the best compromise (because there’s never a perfect solution!)
Our choice for travel in Colombia
Since 2015, we’ve chosen to use both the n26 card and Revolut card.
After all these years and all these trips, we’ve never had any worries until now.
Now, each one has its beneficts. N26 is the the only one to offer a Card with embossed numbers. And in Colombia, as in many countries around the world, this is still very important!
For example, to rent a car, the agencies make old-fashioned bank prints on paper , so the card must have the numbers in relief, otherwise it’s impossible to rent a car.
On the other hand, Revolut’s currency switcher is a real deal when you want to save money on fees. And free withdrawals, even if there are limits, are a also great.
Comparison of the best banks for travellers
the best no-fee debit card abroad
To take things a step further, we’ve looked at each offer in detail to try and highlight the differences, advantages and disadvantages.
N26 Standard | REVOLUT Standard | |
---|---|---|
GENERAL | ||
FREE ACCOUNT | Yes | Yes |
BANK GUARANTEED | Yes (German license) | Yes (Lithuanian license) |
Systematic authorization CARD MODEL | Mastercard Debit (Embossed digits) | Mastercard Debit |
ACCOUNT OPENING | Free | Free |
CB DELIVERY CHARGES | $10 | $6 |
MANAGEMENT INTERFACE | Mobile application and Computer | Mobile application |
ACCOUNT MANAGEMENT FEE | Unconditional free | Unconditional free |
CUSTOMER SERVICE | LiveChat 7/7 days | LiveChat 7/7 days |
OPERATION | ||
CREDIT YOUR ACCOUNT | By bank transfer | By bank transfer or by credit card |
FOREIGN PAYMENT CHARGES | Free of charge | Free of charge on week days only (small fees on week-ends) |
EMBOSSED | Yes | No |
FOREIGN WITHDRAWAL CHARGES (excluding ATM fees) | 1.7% of amount | Free up to $200/month, then 2% of amount |
CHARGES ON WITHDRAWALS IN EURO ZONE | Free up to 5 withdrawals/month then $2 per withdrawal | Free up to $200/month then 2% of amount |
WITHDRAWAL LIMIT | $2500/day | $2800/day |
SPENDING LIMIT | $20000/month | $7000 over 4 days |
RATES APPLIED | Mastercard rate | Interbank rate |
3D SECURE | Yes | Yes |
CLOSE ACCOUNT | Free | Free |
ON-THE-FLY CURRENCY CONVERSION | No | Yes |
APPLE PAY, GOOGLE PAY, SAMSUNG PAY | Yes | Yes |
FOREIGN TRANSFERS | Partnership with Wise for reduced fees | Reduced charges depending on currency |
TRAVEL INSURANCE | No | No |
PREMIUM ACCOUNTS | ||
N26 You $9.90/month | Revolut Premium $7.99/month | |
INTERNATIONAL WITHDRAWALS | Free unlimited | Free up to 400/month then 2% of amount |
TRAVEL INSURANCE | Yes (Allianz) | Yes (White Horse) |
INTERNATIONAL MONEY TRANSFERS | Partnership with Wise for low-cost transfers | 1 free international transfer/month |
ACCOUNT MANAGEMENT | Free with no conditions | Free with no conditions |
Tax declaration
N26 and Revolut are bank accounts you must declare them on your income tax return. This is just a formality that has no impact on the amount of tax you pay, but it can be a compulsory step depending on your country of residence. Ask your customer service for details.
We do it every year, it takes 2 minutes more, the time it takes to find the online “tutorials” and copy the bank’s address…