An international transaction fee is a charge assessed by a financial institution to a consumer who uses an electronic payment card to make a purchase in a foreign currency. This fee is typically a percentage of the purchase amount, usually around 3% . The fee may consist of a 1% fee charged by the payment processor, such as MasterCard or Visa, plus another 2% fee charged by the card issuer, such as Bank of America or Wells Fargo. The fee can be applied to any purchase made with a foreign vendor, whether its in-person or online. The fee can quickly add up, especially for large purchases or frequent small purchases. However, some banks or credit card issuers offer certain customers waivers on these fees or fee-free cards. To avoid international transaction fees, one can use a credit or debit card that offers zero transaction fees and/or ATM rebates.