 TITLE: What Is a Foreign Transaction Fee? CONTENT: Additional Fees to Look Out For\n-------------------------------\nWhether you're abroad or making purchases in foreign currencies online, staying on the lookout for the following fees can help you save some cash.\n*   **Dynamic currency conversion fees**: You may find foreign merchants use dynamic currency conversion (DCC) and let you choose between paying with local currency or with U.S. It's generally best to pay with the local currency for two reasons: There may be a big markup on the conversion rate with DCC, and you may still have to pay a foreign transaction fee if the transaction gets processed by a foreign financial institution.\n*   **Foreign ATM withdrawal fees**: Some banks may charge an additional or higher fee to withdraw cash from an ATM outside the U.S., plus a conversion fee on your cash withdrawals. To avoid these, look for banks that don't charge any foreign withdrawal and conversions fee (or refund them if they are charged). Alternatively, you may be able to find a partner bank with free ATMs in the country where you're traveling.\nAgain, these fees can be fairly easy to avoid, but you'll need to know what to look for and you may need to plan ahead by opening a new bank account. END