Originally published May 6, 2008 at 12:00 AM | Page modified May 6, 2008 at 4:02 PM
WaMu raises fees on foreign debit card purchases
Washington Mutual raises fees on foreign debit card purchases
Seattle Times travel writer
Thousands of travelers who use Visa and MasterCard debit cards issued by Seattle-based Washington Mutual will pay higher fees on overseas purchases starting June 5.
Washington Mutual notified customers that it will raise its fee from 1 to 3 percent on debit card purchases made in foreign countries, including Canada and Mexico. This means that if you use your debit card to make $5,000 worth of purchases in another country, you'll pay $150 in fees, up from $50.
The fee for credit card purchases and ATM/debit card withdrawals at foreign cash machines remains at 1 percent.
Visa and MasterCard International charge banks a 1 percent fee to process overseas transactions. Most banks pass that on, and some then tack on an additional 1 or 2 percent. The fees appear on billing statements as a separate charge.
Locally, Frontier Bank, First Tech, Boeing and Watermark credit unions are among those issuing debit and credit cards with only a 1 percent foreign transaction fee. Most national banks, including Bank of America, Wells Fargo and Citibank, charge 3 percent on both.
Carol Pucci: 206-464-3701 or cpucci@seattletimes.com
Copyright © 2008 The Seattle Times Company
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