Fidelity Debit Card

The Fidelity® Debit Card, paired with the Fidelity Cash Management Account, is one of the best setups for international travel. It gives you access to local currency worldwide without the usual ATM fees, poor exchange rates, or low-interest checking account tradeoffs.

Key Benefits

• No Foreign Transaction Fees: Fidelity removed the old 1% foreign transaction fee on the CMA debit card. Currency conversion is handled through Visa’s exchange network, which is typically very close to the market exchange rate and far better than airport kiosks or tourist exchange counters.
• Worldwide ATM Fee Reimbursement: Fidelity reimburses ATM operator fees worldwide. Whether you withdraw cash from a convenience store ATM in Tokyo or a bank in Berlin, the surcharge is usually refunded automatically after the transaction posts.
• Earn Interest with SPAXX: Unlike most checking accounts that pay almost nothing, Fidelity lets you use SPAXX (Fidelity Government Money Market Fund) as your core cash position. Your travel cash can continue earning a competitive money market yield while remaining liquid and accessible.
• Strong Security Features: You can instantly lock or unlock the card directly from the Fidelity mobile app. Useful while traveling, especially if you prefer keeping the card disabled until you actively need it.
• Contactless Payments: The card supports tap-to-pay along with Apple Pay and Google Pay, both of which are widely accepted internationally.

ATM Tips

• Always Select “Checking”: When an ATM asks which account type to use, always select Checking. Choosing Savings or Credit can sometimes cause failed transactions or additional fees.
• Always Choose the Local Currency: If the ATM asks whether you want to be charged in USD or the local currency, always choose the local currency and decline the ATM’s conversion. This is called Dynamic Currency Conversion (DCC), and the exchange rates are usually terrible.

For example, imagine you are in Switzerland withdrawing cash. The ATM may ask:

1. Charge 100 CHF in Swiss francs
2. Charge $128 USD using the ATM’s conversion

Always choose the 100 CHF option. Let Visa handle the conversion instead of the ATM operator.

Getting Started

Opening a Fidelity Cash Management Account is straightforward and can usually be completed online in just a few minutes. There are no monthly maintenance fees or minimum balance requirements.