Starting 5 June, US-based financial services provider Washington Mutual (WaMu) raises fees from 1 to 3 percent on its Visa and MasterCard debit cards for purchases made in foreign countries. The fee required in case of credit card purchases or ATM/debit card withdrawals at foreign cash machines stays the same, at 1 percent.

Visa and MasterCard ask for 1 percent fee from banks that conduct overseas transactions. The majority of banks pass this requirement on and some of them add 1 or 2 percent. Billing statements register the fees as a separate charge.

Debit and credit cards issuers such as Frontier Bank, First Tech, Boeing and Watermark credit unions charge only a 1 percent foreign transaction fee. Most national banks, such as Bank of America, Wells Fargo and Citibank, charge 3 percent on both.