Does Glacier Bank Charge International Transaction Fees?

Consumers have reported being charged international transaction fees, even when the purchases the fees were assessed on were made in the U.S. Financial institutions including HSBC, Centerstate, Washington Trust, Liberty Bank, Arvest, and Glacier Bank may all charge these fees.

What Is an International Transaction Fee?

International transaction fees are fees that are assessed when a consumer makes a transaction that is processed outside of the U.S. These fees are commonly assessed when consumers have traveled to a foreign country and make purchases. In these cases, consumers are generally aware that foreign transaction fees may be assessed while they are abroad. Many frequent travelers choose credit and debit cards with low foreign fees in order to save money while they travel.

Foreign transaction fees may also be related to purchases made online from inside the U.S. Often in these cases, consumers are unaware that these fees have been charged until they review their bank statement.

Foreign transaction fees are different from currency conversion fees which are charged by a credit card payment processer rather than the individual merchant. However, these fees must be disclosed as a transaction fee on card agreements under Consumer Financial Protection Bureau regulations.

In some cases, a currency conversion fee is built into a foreign transaction fee. For example, a “foreign transaction fee” of 3% could include a 1% currency conversion fee along with a 2% foreign transaction fee.

Why Was I Charged an International Transaction Fee?

If you were charged an international transaction fee, your transaction was likely processed outside of the country. While this makes sense for purchases that are physically made in other countries, many customers don’t realize that foreign transaction fees may be charged for purchases made online in the U.S.

If you have purchased an item from a website that processes its transactions in a foreign country, you may be assessed a foreign transaction fee. Even companies that appear to be based in the U.S. may sometimes actually process their transactions in other countries.

As international transaction fees may often be between 1% and 3% of the cost of the purchase, being hit with unexpected foreign fees may quickly add up. The average fee for international purchases made using U.S. dollars is approximately 3% of the cost of the transaction.

Because international transaction fees are percentage based, exact costs of transaction fees vary depending on the cost of a transaction. On a small food purchase of $25, a 3% transaction fee would be only $0.75. However, when paying for larger transactions such as hotels or travel, fees could be much higher. For example, over $100 in transaction fees could be charged by Glacier Bank or another bank assuming someone spent $3,500 on a trip.

Does a Glacier Bank Credit Card Have International Transaction Fees?

Most credit and debit cards come with international transaction fees. While Glacier Bank’s fee schedule does not explicitly include details on the amount the bank charges for transactions processed internationally, most banks impose a fee of between 1% and 3%. If you have been assessed a foreign transaction fee by Glacier Bank for purchases made online in the U.S., you may be able to speak with an attorney about your experience.

How to Avoid International Transaction Fees

There are several ways that consumers may be able to avoid being assessed a foreign transaction fee. While most of these ways, including paying in local cash currency and avoiding using foreign ATMs only apply to customers who are traveling internationally, there may also be a way for customers making purchases online to avoid these fees.

Consumers may be able to choose a credit or debit card that does not impose a fee for foreign transactions. These cards are often geared towards frequent travelers, but may also be desirable for frequent online shoppers. However, these cards often come with an annual fee, which may be higher than the cost of a few foreign transaction fees.

Can You File a Glacier Bank Class Action Lawsuit for Improper Fees?

Some consumers have successfully filed lawsuits against their banks for imposing foreign transaction fees for purchases that were made domestically.

Although these fees are justified by the fact that the vendor is based overseas or the purchase is made in foreign currency, consumers argue that this is unfair and illegal. Some consumers claim that these fees violate the terms of their card agreements. In some cases, bank members have taken legal action in an attempt to rectify this issue.

According to one plaintiff who filed a lawsuit against Navy Federal Credit Union, she was not notified that this fee would be assessed prior to making a purchase either by her bank or by the website that she made the transaction through. According to her, the online retailer she purchased from did not have any information on the website openly disclosing that they were not based in the U.S. She claims that it is deceptive to charge these fees without the knowledge or consent of account holders.

Additionally, many consumers have argued that the language in their bank or credit union policies regarding foreign transaction fees only mention transactions that are physically made in other countries. They claim that their policies do not mention transactions made in the U.S. that are processed in other countries. Because the situation is not specified in the fee disclosure, consumers contend that these fees are unlawful.

If you were assessed a foreign transaction fee by Glacier Bank for purchases you made online in the U.S., you may be eligible to speak with an experienced attorney about the details of your case. Some consumers who have been charged these fees may be able to join or file a class action lawsuit against their bank or credit union. Through a class action lawsuit, you could help recover reimbursement for foreign transaction fees on behalf of yourself and a Class of similarly situated individuals.

Join a Free Foreign Transaction Fees Class Action Lawsuit Investigation

If you were charged a foreign transaction fee on a debit card or credit card purchase made on a foreign website, you may qualify to join this foreign transaction fees class action lawsuit investigation.

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This article is not legal advice. It is presented
for informational purposes only.