American Express Business Checking (Temporarily) Drops Foreign Transaction Fees

American Express Business Checking Drops Foreign Transaction Fees

American Express is notifying Business Checking customers that ATM cash withdrawals will no longer be charged the 2.70% foreign transaction fee.

This fee is being temporarily suspended, and it seems that it will resume again in the future.

Here’s what American Express says:

• Effective July 17, 2024, we are temporarily suspending Foreign Transaction Fees for cash withdrawals and purchases made with your Business Debit Card. You will not be charged a Foreign Transaction Fee for cash withdrawals and purchases in foreign currency made with your Business Debit Card until we notify you otherwise. ATM owners or merchants may charge a separate fee on foreign transactions.
• We will provide you with advanced notice of when we will resume charging the Foreign Transaction Fee.

Check out the Business Checking Account Agreement and the Rates & Fees Table for full details.