5. PNC Financial Services (NYSE:PNC) Bank PNC Financial Services (NYSE:PNC) is headquartered in Pittsburgh, PA and operates branches across much of the eastern United States. The bank charges $2.50 for domestic out-of-network ATM withdrawals, $5.00 for those in international locations and a 3% foreign transaction fee, all of which are above average. However, PNC Financial Services (NYSE:PNC) does best the other banks highlighted here by offering over 1,400 branches across popular travel destination states, which was the 4th highest among the 20 banks studied.
How can consumers eliminate or reduce bank fees while traveling?
Just as some banks charge extra for services used often by travelers, other financial institutions are more lenient when it comes to fees. Some online checking accounts at banks like Charles Schwab and Capital One 360 don’t charge out of network ATM fees or foreign exchange fees.
Local institutions like credit unions and community banks may also be a good option, despite their limited geographic range. This is because many are part of surcharge-free ATM and branch networks like CO-OP, which offers thousands of free ATMs nationwide. Plus, when local banks and credit unions do charge an ATM or foreign exchange fee, they are typically lower than at the big banks.
Even big bank customers have some options to avoid or reduce bank fees while traveling. Bank of America participates in the Global ATM Alliance, which allows customers to withdraw from ATMs at partnering foreign banks such as Barclays and Deutshe Bank without incurring additional fees (though a 1% foreign exchange fee will still apply). Some other banks, such as M&T Bank and Union Bank offer monthly “add-ons” for their checking accounts, which will waive some or all out of network fees for a flat monthly rate of around $3-$5. Finally, TD bank is the only one of the 20 banks analyzed that charges no foreign transaction fee.
Finally, college students and seniors may be able to take advantage of reduced or waived ATM fees when they sign up for a particular checking account. For example, BB&T Corporation (NYSE:BBT)’s Student Checking account allows 4 free non-BB&T Corporation (NYSE:BBT) ATM transactions per month.
Full data table
| Bank | Out of Network ATM Fee (Domestic) | Out of Network ATM Fee (Intl) | Foreign Transaction Fee | Branches in Top Travel Destinations | Overall Score |
| M&T Bank | $3.00 | $5.00* | 3% | 514 | 2 |
| Regions Bank | $2.50 | $5.00 | 3% | 670 | 16 |
| Citizens Bank | $3.00 | $3.00 | 3% | 267 | 17 |
| BB&T | $2.50 | $5.00 | 3% | 930 | 17 |
| PNC Bank | $2.50 | $5.00 | 3% | 1,429 | 21 |
| Comerica Bank | $2.00 | $5.00 | 3% | 253 | 25 |
| Fifth Third Bank | $2.00 | $5.00 | 3% | 387 | 26 |
| SunTrust Bank | $2.00 | $5.00 | 3% | 1,078 | 31 |
| HSBC Bank USA | $2.50 | $2.50 | 3% | 286 | 34 |
| Union Bank | $2.00 | $5.00 | 2% | 396 | 34 |
| Wells Fargo | $2.50 | $5.00 | 3% | 3,825 | 38 |
| U.S. Bank | $2.50 | $2.50 | 3% | 936 | 38 |
| Bank of America | $2.00 | $5.00 | 3% | 3,460 | 47 |
| Chase Bank | $2.00 | $5.00 | 3% | 3,616 | 49 |
| KeyBank | $2.50 | $2.50 | 1% | 230 | 50 |
| BMO Harris Bank | $2.00 | $2.00 | 3% | 256 | 50 |
| BBVA Compass | $2.00** | $2.00** | 3%† | 484 | 52 |
| Capital One‡ | $2.00 | $2.00 | 3% | 596 | 53 |
| Citibank | $2.00 | $2.00 | 3% | 963 | 55 |
| TD Bank | $2.50 | $2.50 | N/A | 791 | 62 |
*Greater of $5 or 3% of amount
**Fee is $1.75 in California
†Fee is 1% for ATM transactions, 3% for point-of-sale purchases
‡Data is for Capital One’s traditional bank accounts, rather than their online brand Capital One 360
Methodology
The overall score for each bank was derived from the following measures:
- Out of Network ATM Fee (Domestic): information available through each bank
- Out of Network ATM Fee (International): information available through each bank
- Foreign Exchange Fee): information available through each bank
- Branches in Top Travel Destinations: Branch locations via the FDIC, and domestic travel expenditures by state for 2009 via the Census Bureau
The article Travel Advisory: Banks With High Fees originally appeared on Fool.com is written by John Gower, NerdWallet.com.
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