What could be easier than using your bank card when travelling overseas? Many everyday debit cards are now on the Visa or Mastercard network, which means they're accepted at multiple retailers and ATMs in most countries. 

If you have a low-fee debit card that doesn't charge a currency conversion fee, the exchange rate you get is set by Visa or Mastercard and is usually better than the high exchange rate margins set by travel money cards.* 

But use your standard debit card (especially if it's from the Commonwealth Bank, ANZ, Westpac or NAB) and you could be in for some high fees and exchange rate margins.

Should you use your regular debit card overseas?

While it may be convenient to just use your normal debit card from one of the major banks for online shopping and travel, you can be up for high fees, including:

• fees from your bank for using overseas ATMs
• ATM fees from an international bank
• currency conversion fees.

There are now a handful of fee-free debit card accounts with no account keeping fees. Therefore you could open one just for travel and online shopping purposes, so you don't have to switch your everyday transaction account if you don't want to. 

If you have a debit card with high fees and you don't want to open a new bank account just for travel, it's a good idea to use a low-fee travel credit card that you can use for overseas travel purchases and online shopping to avoid currency conversion fees.

Low-fee travel debit cards

The debit cards on these accounts are a good option to use when getting money from overseas ATMs, making purchases overseas such as hotel bookings or for international online purchases. They have:

• no monthly account fee 
• no fee for the debit card and debit card purchases 
• no foreign exchange fee 
• no fee for getting money from an overseas ATM (the operator of the foreign ATM may charge you a fee though). 

Here are seven low-fee travel debit card accounts:

• Bankwest Easy (Platinum)
• Macquarie (Platinum) 
• Suncorp Carbon Insights
• Suncorp Everyday Options
• Ubank Spend 
• Up Everyday.

Debit cards from ANZ, Commonwealth Bank, NAB and Westpac

The major banks have some accounts that don't charge account keeping fees or waive them if you make a monthly deposit of a few thousand dollars (such as your salary). But they're not a good option for using overseas or for international purchases as they charge overseas ATM fees and exchange rate fees.

ANZ Plus

• No monthly account fee.
• Free at overseas ANZ ATMs ($5 at other banks' ATMs). 
• 3% foreign exchange fee applies to all transactions, including purchase and ATM withdrawals in a foreign currency.

ANZ Access Advantage

• $5 monthly account fee (can be waived if you deposit at least $2000 a month, for example).
• Free at overseas ANZ ATMs ($5 at other banks' ATMs). 
• 3% foreign exchange fee applies to all transactions, including purchases and ATM withdrawals in a foreign currency.

Commonwealth Bank Everyday Smart Access

• $4 monthly account fee (can be waived if you deposit at least $2000 a month, for example).
• $2 at overseas CommBank and ASB Bank ATMs ($5 plus 3% of transaction at other banks' ATMs).
• 3% foreign exchange fee applies to all other transactions, including purchases in a foreign currency.

NAB Classic Banking Account with Standard Debit Card

• No monthly account fee.
• $5 at overseas ATMs. 
• 3% foreign exchange fee applies to all transactions, including purchases and ATM withdrawals in a foreign currency.

Westpac Choice

• $5 monthly account fee (can be waived if you deposit at least $2000 a month, for example).
• Free at overseas Westpac global alliance partner ATMs ($5 at other banks' ATMs).
• If you or the merchant are located overseas, a 3% foreign exchange fee applies to all transactions, including purchases and ATM withdrawals.
• If you're shopping online with a merchant located in Australia but they're charging you in a foreign currency, a 2.2% foreign currency exchange fee applies.  

Foreign currency accounts

These accounts allow you to buy, hold and spend money in a range of foreign currencies and have no monthly account fee.

They're a good alternative to travel money cards and can also be useful if you frequently transfer money to family and friends overseas or earn money in another currency.

HSBC Everyday Global

Currencies: AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, CNY (currency restrictions apply to CNY).

• Non-HSBC branded ATMs and HSBC Group ATMs in Argentina, France, Greece, Malta, Mexico and Turkey may charge an ATM operator fee for withdrawals or balance enquiries at their ATMs.
• $8 international transfer fee.

Wise (formerly TransferWise)

Wise allows you to hold money in 50 currencies in your account.

• Two international ATM withdrawals of up to $350 in total fee-free per 30 days. After that, an ATM fee of $1.50 plus 1.75% of the amount applies.
• $10 debit card fee for your first Visa or Mastercard.
• Foreign exchange fees start at 0.41% depending on the currency.
• If you hold more than $23,000 in your account, an 0.033% monthly fee applies to the amount above the limit (different limits apply to other currencies).

Stock images: Getty, unless otherwise stated.

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