Best business cards with no foreign transaction fees (UK)

Some UK business cards charge no foreign transaction fee. Some waive it only when you pay in the local currency, and some swap it for an annual fee. If you’re comparing cards with no foreign transaction fee, check whether the provider waives the fee on all foreign-currency purchases or only when you meet specific conditions.

UK businesses should also compare currency conversion charges, account fees and ATM withdrawal costs.

This guide compares five business cards from each provider’s own pricing information, including WorldFirst’s World Card, and shows you how to check a card’s fees before you apply.

Key takeaways

• Compare the total cost, not just the foreign transaction fee: Exchange rate margins, currency conversion charges, annual fees and ATM withdrawal fees can all affect the cost of using a business card abroad.
• Check the conditions behind a zero-fee offer: Some providers waive foreign transaction fees only for eligible purchases, supported currencies or payments made in the local currency.
• Choose between a debit card and a credit card based on your business needs: A debit card uses your available funds, while a credit card offers a line of credit and may charge interest if you carry a balance.
• Review each provider’s official pricing before applying: Check card fees, account or subscription costs, cashback terms, eligibility criteria and any limits on fee-free transactions.
• Consider a multi-currency business card for international spending: If you regularly pay overseas suppliers, advertising platforms or software subscriptions, holding and spending from supported currency balances may help reduce conversion costs.
• Explore the World Card from WorldFirst. It has no annual card fee, no FX fees on eligible spending from existing balances in 15 supported currencies, and up to 1.2% uncapped cashback on eligible business spend, subject to terms and conditions. Currency conversion and other charges may still apply.

What is a foreign transaction fee?

A foreign transaction fee is a charge a card provider may add when you make a payment in a currency other than pounds sterling (GBP). It’s also known as a non-sterling transaction fee. For example, Santander explains this terminology on its Business Cashback Credit Card page. The fee may apply to foreign-currency purchases made abroad or online, depending on your card provider and card terms. American Express explains how non-sterling transaction fees work.

It’s usually charged as a percentage of each overseas purchase, so it grows with your spend. As an illustration only, a card charging 2% on £10,000 of overseas spend would add £200 to your costs. That figure is an example, not a rate charged by any provider in this guide.

Foreign transaction fee vs exchange rate

These are two separate costs:

• The foreign transaction fee is a charge added by your card provider.
• The exchange rate is the rate used to convert the currency. Some providers use the Mastercard rate and others use their own rate or a stated margin.

A card can advertise no foreign transaction fee and still cost you through the exchange rate, so compare both.

What is dynamic currency conversion?

When you pay abroad, a merchant or card terminal may offer to charge you in pounds sterling (GBP) instead of the local currency. This is called dynamic currency conversion (DCC). It can also be offered when withdrawing cash from an overseas ATM.

With DCC, the merchant or its payment provider applies the exchange rate, which may include a markup or additional charges. If you choose to pay in the local currency instead, the transaction is generally converted using the card network’s exchange rate, and your card provider may apply its own foreign transaction fee. The overall cost depends on your card’s terms and the exchange rate offered.

Say you’re paying €1,000. The payment terminal offers to convert it into £880 using DCC. If the equivalent cost using your card network’s exchange rate is £850, the DCC option would cost £30 more, before any applicable card fees.

That’s why paying in the local currency is usually cheaper, though the final cost still depends on your card, the exchange rates and the provider’s terms.

Business cards with no foreign transaction fees: comparison

Credit cards charge interest if you carry a balance, and the rate you’re offered depends on your credit history and other factors. Check the current APR on Capital on Tap’s business credit card page and Santander’s Business Cashback Credit Card page before you apply. Credit is subject to status and eligibility.

World Card (WorldFirst)

The World Card is a business debit card linked to your World Account. You can issue virtual cards from your dashboard and apply for a physical card too. It draws on your account balances rather than a credit line, so there is no interest.

On the UK pricing page, the World Card has:

• no setup fee and no annual card fee
• up to 25 free virtual cards
• up to 5 physical cards, each with a one-off £5.00 shipping fee
• no FX fee when spending from existing balances in 15 major currencies
• a 2% ATM withdrawal fee, with a minimum of £1 (or the local currency equivalent)
• up to 1.2% uncapped cashback on eligible business spend, credited to your World Account

What to know: the zero FX fee applies when you pay from existing balances in the 15 supported currencies. If you need to convert one currency into another first, currency conversion is a separate charge. The pricing page lists a standard rate of up to 0.50% and a 0.30% rate for new customers in their first six months. You also need a World Account, which is free to open.

Capital on Tap Business Credit Card

Capital on Tap’s cashback page says its Business Credit Card has no annual fee and no foreign transaction fees, with 1% uncapped cashback. It advertises credit limits up to £250,000 and rates from 13.86% APR (variable). The Pro plan costs £299 a year.

What to know: this is a credit card, so interest applies if you don’t clear the balance, and approval depends on your status. Compare the APR you are offered, not just the headline fee.

Santander Business Cashback Credit Card

Santander’s page lists 1% cashback paid monthly on all business spend with no cap, a £30 annual fee per business, and up to 56 days interest free when you pay in full and on time. Credit limits run from £500 to £25,000, subject to status.

What to know: you must already hold a Santander Business Current Account to apply. The fee waiver covers purchases abroad when paying in the local currency, and cash transactions carry a 3% fee (minimum £3). Directors of limited companies may be asked for a personal guarantee.

Wise Business debit card

Wise’s card fees page says the first card on the account is free, additional team cards cost £3 each, and you spend at the mid-market rate with no markup. ATM withdrawals are free up to £250 a month in total, then 2.69% applies to the excess.

What to know: Wise’s page includes a calculator for the cost of converting a transaction amount, so check the conversion fee for the currency you use most before you decide. Wise also lists a 2% fee for topping up external e-wallets.

Airwallex cards

Airwallex’s pricing page says its Explore plan includes multi-currency company and employee cards with zero international fees, with up to 10 free company cards. The £19 monthly Explore fee is waived if you deposit at least £10,000, or hold at least £10,000 across your wallet balance at the end of your monthly subscription.

What to know: the card sits within an Airwallex account plan, so check the monthly fee and its waiver conditions as well as the card terms.

Credit card or debit card? Which is right for you?

• A credit card is borrowing. You may get an interest-free period, but interest applies to any balance you carry. A debit card spends your own money, so there’s no interest at all
• A credit card suits you if you’re after a credit line and more cashflow flexibility.
• A debit card is suitable if you’re looking to spend out of your own balances, avoid interest and have the currencies that you’re paying in.
• Credit limits and rates depend on your business and your credit check. A debit card only needs an open, funded account.

How to check a card’s fees before you apply

Use this checklist for any card,including the ones above:

• Find the provider’s own pricing or fees page. Use the card’s product page or key facts document rather than a comparison site and note the date you check.
• Search for the exact fee name. “Foreign transaction fee”, “non-sterling transaction fee”, “non-GBP purchase fee” or “international fee”.
• Read the conditions. Check whether the waiver is only for the local currency, whether it’s for certain currencies or whether it’s for certain balances.
• Check the exchange rate. Work out whether the card uses the Mastercard/Visa rate, a mid-market rate or the provider’s own rate with a margin.
• Look at cash withdrawals. A lot of cards will charge you separately for ATM or cash withdrawals even if purchases are free.
• Add up the other costs (annual fees, plan fees, any extra card fees and for credit cards the APR).

Things to check before you assume “no fees”

• Location and currency: A fee waiver may only apply to certain currencies or to payments in the local currency.
• Cash and ATM fees: Purchases and cash withdrawals are generally charged at separate rates.
• Currency conversion: Converting between currencies can have its own fee even if the card fee is zero.
• Account fees: A fee-free card may sit inside a paid plan or could require another account.
• Interest: A card with no foreign transaction fee can still end up costing you more than a debit card if you’re carrying a balance.

Which card is right for your business?

Ask yourself these questions:

• Do you want to borrow or spend from your own balances?
• Which currencies do you pay in most often and does the card cover them?
• What do the annual, plan and extra card fees total?
• Do you need to withdraw cash?
• Do you want cashback and, if so, on what terms?

If you pay suppliers, ad platforms and subscriptions in several currencies, the World Card is worth a look. It has no annual fee, no FX fee on payments from your balances in 15 major currencies, and up to 1.2% uncapped cashback on eligible spend. If you would rather use a credit line, compare the APR and eligibility of the credit cards above.

FAQs

1. Are there business credit cards with no foreign transaction fee in the UK?

Yes. Capital on Tap and Santander both state that their business credit cards carry no foreign transaction fee on purchases abroad, although Santander’s applies when you pay in the local currency. Credit is subject to status and interest applies to balances you carry.

2. Is there a no foreign transaction fee debit card for UK businesses?

Yes. The World Card, the Wise Business debit card and Airwallex cards all state no foreign transaction or international fees under the conditions set out above. Check the conditions for each, including currencies, balances and plan fees.

3. What is a non-GBP purchase fee?

It’s another name for a foreign transaction fee, also called a non-sterling transaction fee. It’s a charge a card provider applies when you buy in a currency other than pounds, usually as a percentage of the transaction.

4. Does no foreign transaction fee mean no extra cost?

No. A card can charge no foreign transaction fee and still apply an exchange rate margin, an ATM fee, an annual fee or interest. Look at the whole cost, not one line.

5. How do I avoid foreign transaction fees on business spending?

Choose a card whose provider states no foreign transaction fee, pay in the local currency, and check the conditions on that provider’s pricing page. You can also hold the currency you need in a multi-currency account so you pay from your balance without converting.

Sources

1. https://www.worldfirst.com/uk/pricing/
2. https://www.worldfirst.com/uk/product/pay/world-card/
3. https://www.capitalontap.com/en/business-credit-cards/
4. https://www.capitalontap.com/en/business-credit-cards/cashback/
5. https://www.capitalontap.com/en/business-credit-cards/pro/
6. https://www.santander.co.uk/business/credit-cards/business-cashback-credit-card/
7. https://wise.com/gb/pricing/business/card-fees
8. https://www.airwallex.com/en-uk/pricing?topics=corporate_cards
9. https://www.americanexpress.com/en-gb/business/get-started/card-fees-and-charges/
10. https://www.visa.co.uk/travel-with-visa/dynamic-currency-conversion.html

Sources correct as of 04 November 2026.