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Are there business cards with low or no foreign transaction fees?

Last update: December 4, 2025

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Yes, there are business cards available that offer no or low fees for foreign transactions, from companies such as WorldFirst, Capital on Tap, Santander and Wise.

However, the costs of transactions differ depending on where you’re located and where you spend. And, if your business regularly makes international payments or purchases from overseas suppliers, foreign transaction fees can quickly add up.

Here are some business cards that have low or no foreign transaction fees:

Business cards with low or no foreign transaction fees: Comparison table

Provider	World Card (from WorldFirst)	Capital on Tap	Santander Business Cashback	Wise Business Card
Card type	Virtual debit card (multi-currency)	Business credit card	Business credit card	Business debit card
FX fees	Zero FX fees in 15 major currencies	None on purchases abroad	None when paying in local currency	None – uses mid-market rate
Currencies supported	150+ (pay); 20+ (hold with a World Account)	GBP-based card	GBP-based card	40+ currencies supported
Annual / monthly fee	£0 (no setup or card fees)	£0 annual fee	£30 annual fee	£45 one-time account setup
Cashback / rewards	Up to 1.2% unlimited cashback on eligible business spend	Points convertible to Avios	1% unlimited cashback	0.5% cashback on eligible spend
Virtual / employee cards	Up to 20 cards, free	Multiple cards available	Additional cards at no extra cost	£3 per card; employee limits available
Spend controls	Custom spend limits; freeze/unfreeze cards	Set limits via dashboard	Per-user spend controls	Pre-set limits per card
Accounting integration	Xero, NetSuite	QuickBooks, Xero	Manual export	Real-time spend tracking
Ideal for	E-commerce, SMEs, international suppliers	UK businesses with travel needs	Cashback-focused domestic businesses	Transparent FX, budget-conscious teams

WorldFirst World Card: Built for global business

If you’re running an e-commerce or SME operation with global ambitions, the World Card from WorldFirst is one of the most compelling options on the market.

Why WorldFirst stands out

WorldFirst is a digital payment platform trusted by over 1.5 million businesses globally, with more than $500 billion transferred across borders to date. Its core offering – the World Account – enables businesses to receive and hold 20+ currencies. But it’s the World Card that truly sets WorldFirst apart for international spend.

1. Pay in 15+ currencies with no FX fees

With a World Card, you can pay in 150+ currencies and avoid foreign exchange fees in 15 of the most commonly used currencies, including USD, EUR, GBP, AUD, SGD and more.

That means no extra costs when you’re paying suppliers or running international ads in local currencies. And because the card draws from your World Account balance, you avoid conversion altogether when you’re already holding funds in the local currency.

2. Cashback that adds up

Beyond savings on FX, you also earn unlimited cashback:

0.5% on your first £40,000 spend
0.8% between £40,000 and £80,000
1.2% on spending above £80,000

It’s a rare combination – cost savings and rewards – especially valuable if you’re investing heavily in digital advertising or inventory. Note: in order to earn cashback, expenses must be on eligible spend.

3. No hidden fees

WorldFirst’s pricing is transparent. You’ll pay no setup fees, no monthly fees, and no card issuance charges. This keeps your overheads low, whether you use one card or twenty.

4. Control and flexibility for your team

You can create up to 20 virtual cards at no cost, each with its own spending limit and permissions. Set caps on daily, monthly, or individual transactions, freeze cards instantly if needed, and track everything in real time. If you use Xero or NetSuite for accounting, WorldFirst integrates seamlessly, streamlining reconciliation.

5. Fast, secure global payments

Virtual card payments are processed almost instantly. This is particularly useful for ad campaigns, where quick decisions and fast execution are essential. Each transaction is secured with 3D Secure authentication to minimise fraud risk.

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Signing up for a WorldFirst account is free. Once verified, you can issue your World Card in minutes via your online dashboard. It’s one of the easiest ways to control business spend across currencies, without incurring FX charges.

Capital on Tap Business Credit Card

Best for: High credit limits and travel perks

Capital on Tap’s Business Credit Card comes with:

No foreign transaction fees
0% annual fee
15.5% interest rate
Avios point conversion for travel rewards

It also includes perks like 1,600+ airport lounge access, Radisson Rewards VIP status, and Avios points that can be used for flights or upgrades. It’s ideal if you or your team travel frequently and want a mix of flexibility, credit, and rewards.

Santander Business Cashback Credit Card

Best for: Cashback simplicity and no FX fees

The Santander Business Cashback Credit Card offers:

1% cashback on all business spend (with no cap)
£30 annual fee
23.7% APR (variable)
No FX fees when paying in local currency abroad

It’s a great fit for businesses that want to earn consistent cashback without navigating complex rewards programs. You can also issue additional cards to team members for free.

Just be aware that overseas cash withdrawals come with a 3% fee and a higher interest rate. But for purchases abroad, it’s a solid choice.

Wise Business Debit Card

Best for: FX transparency and real exchange rates

Wise (formerly TransferWise) is known for giving users access to real mid-market exchange rates. The Wise Business card is a debit card that can help you:

Spend in 40+ currencies
Avoid FX markups and hidden fees
Issue cards to employees for £3
Get 0.5% cashback on eligible purchases

There are no monthly management fees, although opening a Wise business account costs £45. This is a great option if you’re looking for a debit card offering low FX costs without needing a credit line.

Things to check before you assume “no fees”

Not all “no foreign transaction fee” business cards actually offer services with zero fees. Before signing up, it’s worth reviewing the fine print to make sure you’re not caught off guard:

Location matters. Some cards only waive FX fees for European or SEPA transactions. If you’re paying suppliers outside Europe – say you’re paying suppliers in China – you may still incur charges or higher exchange markups.
Local-currency payment. “No FX fee” typically applies only when paying in the local currency. If a merchant forces a conversion to your home currency at checkout (known as DCC), you could still be charged.
Card type and issuer terms. Some cards offer zero FX fees but balance this with higher interest rates, annual fees, or a requirement to hold a business account with the provider. Make sure the overall value works for your business model.
Debit vs credit cards. Debit-based options like Wise often provide better FX rates and more consistent transparency. However, they don’t offer the credit-building, interest-free periods, or purchase protection that come with credit cards. Weigh what matters more for your business operations.

Final thoughts: Which card is right for you?

Here’s a quick checklist when choosing the right card:

No or low foreign transaction fees
Low or no annual fee
Cashback or travel rewards
Multi-currency functionality
Real-time spend tracking
Employee card management
Transparent pricing

If your business is expanding across borders – or already operating internationally – then cutting down on FX fees isn’t just a perk. It’s a strategic cost advantage. And with WorldFirst’s World Card, you get both control and cost-efficiency designed specifically for globally-minded SMEs.

Open a World Account for free today.

FAQs

1. What does “no foreign transaction fee” actually mean?

It means you won’t be charged extra fees for spending in a different currency, as long as you’re paying in the local currency of the transaction. If the merchant converts the price into your home currency at checkout (called dynamic currency conversion), you might still face added costs.

2. How does the WorldFirst World Card avoid FX fees?

The World Card lets you pay directly from the multi-currency balance in your World Account. That means if you receive payments in USD, you can spend in USD (no conversions, no FX fees) across 15 major currencies, including USD, EUR, GBP, SGD and more.

3. Can I issue multiple cards for my team?

Yes. With WorldFirst, you can create up to 20 virtual cards, all managed in one dashboard. You can set spending limits, freeze cards instantly and assign cards to different team members, all without paying any extra card issuance or management fees.

4. Are debit cards better than credit cards for international spending?

It depends on your needs. Debit cards like Wise are great for avoiding FX markups and getting mid-market exchange rates. But credit cards can offer perks like cashback, interest-free periods, or travel rewards, useful if your business needs more flexibility or is looking to build credit.

5. Are all “no FX fee” cards truly free from charges?

Not always. Some cards only waive fees for certain regions (e.g. within Europe), while others may offset the benefit with high interest rates, annual fees, or currency conversion conditions. Always check the terms—and the currency you’re paying in—before assuming you’re in the clear.

Sources

https://www.businessfinanced.co.uk/business-credit-cards
https://www.capitalontap.com/en/business-credit-cards/travel-credit-card/
https://businessfinancing.co.uk/business-credit-cards/rewards-credit-cards/
https://wise.com/gb/blog/best-credit-card-for-business-travel-uk

Jennifer Dodd leads marketing for WorldFirst UK, and has over 20 years' experience in financial services and publishing.

Jennifer Dodd

Author

Regional Marketing Lead, WorldFirst UK

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Are there business cards with low or no foreign transaction fees?

Business cards with low or no foreign transaction fees: Comparison table