BDO Debit Card International Charges, Using a BDO debit card for international transactions is convenient, but it’s important to understand the charges that come with it. When you travel abroad or make purchases from foreign websites, you may notice extra fees on your account. These international charges can surprise users if they are not aware of them beforehand.
This blog will explain the common fees associated with using a BDO debit card internationally. We’ll also cover how to avoid or minimize these charges, so you can manage your spending better when using your card outside the Philippines.
What Are BDO Debit Card International Charges?
When you use your BDO debit card for international transactions, certain fees are applied. These include charges for currency conversion and foreign transaction fees. Here are the main types of charges you may encounter:
- Currency Conversion Fee:
If you make a purchase in a foreign currency, BDO will convert the amount into Philippine Pesos. For this service, BDO adds a currency conversion fee. This fee usually ranges around 1% to 3% of the total purchase. - Foreign Transaction Fee:
In addition to the currency conversion fee, BDO may charge a foreign transaction fee. This fee is applied when you use your debit card outside the Philippines or on a foreign website. The foreign transaction fee is typically around 1% to 2% of the transaction. - ATM Withdrawal Fees:
If you withdraw cash from an ATM abroad, there will be additional fees. These include both a fixed withdrawal fee and a currency conversion fee. The fixed withdrawal fee can range from PHP 150 to PHP 200 per transaction. You may also be charged by the foreign bank’s ATM for using their machine.
How to Avoid or Minimize BDO Debit Card International Charges
While it’s hard to avoid all fees when using your BDO debit card internationally, there are some ways to reduce them:
- Plan Your Cash Withdrawals:
Avoid making frequent small withdrawals from ATMs. Instead, withdraw larger amounts at once to reduce the number of fixed fees you pay. Be mindful of the daily withdrawal limit on your BDO debit card. - Use Local Currency:
When making purchases abroad, always choose to pay in the local currency rather than Philippine Pesos. This helps you avoid extra conversion fees from the foreign merchant’s bank, which might be higher than BDO’s rates. - Check BDO’s Partner Banks Abroad:
BDO is part of the Mastercard network, so it may have partner banks in certain countries. Using ATMs from partner banks can help you avoid extra ATM fees. Before traveling, research which banks work with BDO and where you can use your card at lower costs. - Use Credit Cards for Large Purchases:
If you have a credit card with low foreign transaction fees, consider using it for bigger purchases instead of your debit card. Credit cards often offer better exchange rates and lower fees for international transactions.
Things to Remember When Using BDO Debit Card Internationally
Here are some useful tips to help you manage BDO Debit card international charges better:
Inform BDO About Your Travel Plans:
Before you travel, notify BDO of your trip. This will help prevent your card from being blocked for suspected fraud when used in a foreign country.
Monitor Your Account:
Keep an eye on your account for any unexpected charges. Regularly check your balance and transaction history through online banking or the BDO mobile app. This way, you can quickly spot any unusual fees.
Know the Exchange Rates:
It’s helpful to be aware of the current exchange rates when you’re making purchases abroad. Knowing the rate can give you an idea of how much you’re being charged for currency conversion.
Conclusion
Using your BDO debit card for international transactions is convenient, but it does come with some fees. Understanding these charges helps you plan better when traveling or shopping online. By making informed choices, like paying in local currency and managing your withdrawals, you can minimize the impact of these international charges on your account. Always stay aware of the fees and plan ahead to make the most of your BDO debit card while abroad.
FAQs: BDO Debit Card International Charges
Q. What is the foreign transaction fee on BDO debit cards?
A. The foreign transaction fee is usually around 1% to 2% of the total purchase made outside the Philippines or on a foreign website.
Q. How can I reduce ATM withdrawal fees abroad?
A. Withdraw larger amounts at once to minimize the number of transactions, and try to use ATMs from BDO’s partner banks, if available.
Q. Should I pay in local currency or Philippine Pesos when traveling?
A. Always choose to pay in the local currency to avoid extra conversion fees from the merchant’s bank.
Anurag is a finance writer with 4 years of experience crafting insightful and actionable content. Specializing in personal finance, investing, and financial planning, Anurag simplifies complex concepts for readers.
