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Travelling to the United States or Europe can be quite costly, especially for Canadians. Considering expenses, travel insurance, and foreign exchange rates, in addition to ATM and admin fees, it’s easy to gather a hefty amount of charges from your bank that’s better spent on making the most out of your trip.
That’s why the Ratehub.ca team put its travel cap on to conduct a competitive audit and found out what are the best bank accounts for international travel.
After some intensive research, we found out which bank from Canada’s big five helps stretch your dollar as much as possible when you find yourself across the border or overseas.
The best debit cards for international travel from major Canadian banks
Below, we’ll take a look at some of Canada’s best banks for international travel, focusing on the best major Canadian banking institutions.
1. Scotiabank – Best debit card and student account for international travel
More information about the Scotiabank Chequing Account
More information about the CIBC Chequing Account
3. Bank of Montreal (BMO)
More information about the Bank of Montreal
4. Royal Bank of Canada (RBC)
More infomation about the Royal Bank of Canada
5. TD Canada Trust
More information about TD Canada Trust
The best free debit accounts for international travel
We’ve listed some alternative banking options that will help Canadians stretch their travelling budget longer with two free chequing account options. Both options listed below also double as excellent options for day-to-day banking while not travelling abroad.
1. Alterna Bank – Best debit account for Canadians travelling to the United States
More about Alterna Bank
2. Tangerine Chequing Account
More information about Tangerine
Infographic: Canada’s best bank accounts for International Travel 2020
While rates have changed since this infographic was initially published in March of last year, rates remain relatively similar to the time of their original posting.