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Foreign Transaction Fees While Online Shopping: Who’s Affected?

FX Fees on Foreign Websites

(Photo credit: Rawpixel/Depositphotos.com)

  • Many banks and credit unions charge online shopping foreign transaction fees (also called FX fees, international processing fees and other terms) when consumers hop online to make an online purchase from an international website.
  • These fees should not be charged when making a purchase online even if it’s a foreign website.
  • Consumers who were charged online shopping foreign transaction fees when making a purchase online from a foreign website may be entitled to compensation. 

What Can You Do?

You may qualify to join this open class action lawsuit if both of the following apply to you:

  • You made a purchase on a foreign website from a company based in another country
  • You were charged a foreign transaction fee (other names include: FX fee, international processing fee, etc.) by your bank

Some banks that may engage in this online shopping foreign transaction fee practice include but are not limited to: 

  • HSBC
  • Glacier
  • Centerstate
  • Washington Trust (RI)
  • Arvest
  • Liberty Bank (CT)
  • UMB
  • Central Pacific
  • Others

Fill out the form on this page to see if you qualify for a free case evaluation!

Note: This potential lawsuit is targeting people who made online purchases at home in their own country but were still charged an international processing fee due to the website being in another country. 

What are Foreign Transaction Fees?

Foreign transaction fees, also called foreign exchange fees, are percentage-based charges which compensate a bank or credit company for converting a transaction into foreign currency.

Some cards may offer no foreign exchange fees for nearby countries; for example, Americans visiting Canada or Mexico. Providers such as Capital One and Discover stand above the rest in that they do not charge any of these fees. However, it is more than likely that one of your cards includes some sort of foreign transaction fee.

Read more: What’s the Difference Between a Currency Conversion Fee and Foreign Transaction Fee?

How Much are Foreign Transaction Fees?

Typically, foreign exchange fees range between 1 percent and 3 percent. A portion of this fee usually goes toward compensating a payment processor such as Visa or Mastercard. The rest of the charged foreign transaction fees will go to the card issuer.

Foreign exchange fee rates may not seem like a large price to pay, but a 3 percent foreign transaction rate would cost a consumer $30 for every $1,000 they spend. For larger events, such as an international trip, a consumer could easily rack up this amount and more in fees.

Read more: How to Avoid Foreign Transaction Fees Online

Have Any Class Action Lawsuits Been Filed?

Banks have faced legal action by consumers who claim they were charged international processing fees on credit and debit card purchases made on foreign websites when the fees are only supposed to be charged if someone is at a physical location outside the country.

Attorneys are investigating financial institutions that wrongfully charge foreign exchange fees on transactions that were conducted online within the United States but on foreign websites.

Although charging foreign transaction fees on online purchases is not illegal, these fees may violate the bank’s own contracts. Some banks’ contracts do not allow for foreign transaction fees on online foreign transactions made inside the United States.

Read more: Why Did I Get Charged an International Fee for an At-Home Purchase?

Foreign Transaction Fees Bank of America Lawsuit

Plaintiff Andrea F. Durkee has proposed a class action lawsuit for the Bank of America (BoA) foreign transaction fees, claiming the bank charges customers unlawful inflated international transaction fees. These fees include a $5 out-of-network ATM transaction fee, as well as an additional 3 percent international transaction fee.

The lawsuit states the bank has violated its Personal Schedule of Fees by not separating the fees assessed by the ATM operator, applying the 3 percent to both the amount of the foreign transaction withdrawn and the ATM fees.

“Nowhere in any of BoA’s account agreement authorizes BoA to assess a 3% ITF on top of the foreign ATM operator’s fee, and in fact, BoA’s Personal Schedule of Fees (“Schedule”, attached hereto as Exhibit 1) expressly separates fees assessed by the ATM operator from being considered part of the funds that the 3% applies to for determining the amount of the ITF,” the class action lawsuit states.

Online Shopping Foreign Transaction Fees Class Action Lawsuit Investigation

Consumers who were charged foreign transaction fees or foreign exchange fees on their online purchases may be able to take legal action. In addition to recovering the amount that was charged in fees, consumers may be able to collect additional compensation in the form of damages.

While shopping online, if you were charged foreign exchange fees on a debit card or credit card purchase made while on a foreign website you may be eligible to join a FREE debit card online shopping foreign transaction fees class action lawsuit investigation. 

Some banks that may charge these fees includes but is NOT limited to: 

Fill out the form on this page for more information.

Note: This potential lawsuit is targeting people who made online purchases at-home in their own country, but were still charged an international processing fee due to the website being in another country. 

Get Help – It’s Free

Fill Out the Form to Join this Potential Foreign Transaction Fees Class Action Lawsuit

If you qualify, an attorney will contact you to discuss the details of your potential case at no charge to you.

PLEASE NOTE: If you want to participate in this investigation, it is imperative that you reply to the law firm if they call or email you. Failing to do so may result in you not getting signed up as a client or getting you dropped as a client.

E-mail any problems with this form to:
Questions@TopClassActions.com.

  • The law firm responsible for the content of this page is: Kaliel PLLC. KOPELOWITZ OSTROW ​FERGUSON WEISELBERG GILBERT
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After you fill out the form, the attorneys who work with Top Class Actions will contact you if you qualify to let you know if an individual lawsuit or class action lawsuit is best for you.

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