TRANSAXT MI

When you make purchases using your credit or debit card outside of the country, you may see a charge labeled as "foreign transaction fee." This fee is applied by your card issuer as a way to compensate for the added cost and risk of processing international transactions. It typically ranges from 1-3% of the total transaction amount. Keep in mind that this fee can also apply to online purchases made in foreign currency, even if they are from domestic vendors. To avoid this fee, consider using a card that waives foreign transaction fees or exchanging cash before traveling abroad. Regardless, it's important to familiarize yourself with the fees and policies of your credit or debit card before making international purchases.