Whether you have to travel abroad for work, or just order supplies or services from outside the UK, you could save a packet by using the best credit and debit cards for foreign spending.
All of the cards in our list below are dedicated business accounts, with zero fees for spending abroad, either online, or at the point of sale. They all also offer some free ATM withdrawals too (up to a limit). Compared to a regular highstreet bank account you could save your business a fortune.
Tide – Best for foreign spending and travel
Positioned as a mobile-first solution, Tide caters to the needs of small businesses, freelancers, contractors, and other self-employed professionals. It’s not a currency card, but a comprehensive account in its own right.
Tide aligns with the ethos of challenger banks by offering zero commission, fees, or loading on foreign purchases, and ATM withdrawals, as well as offering the MasterCard exchange rate.
Additionally, Tide customers have access to a 4.33% AER instant access savings account, and all deposits with Tide are protected by the Financial Services Compensation Scheme (FSCS).
What sets Tide apart is its scalability, accommodating your business’s growth trajectory. Should your operations expand, Tide offers business expense cards, making it a versatile companion for evolving business needs.
Get Tide now, or read our detailed review of the account for more information.
Wise – the best multi currency account
Unlike the bank accounts in this list, Wise is a true multi-currency account meaning you can send and receive payments in a number of different currencies, and convert between them.
It may have started life as Transferwise, dedicated to foreign currency and international transfers, but it now offers multi-currency accounts that allow you to do all the things you’d expect from regular bank account.
The basic business account is free, and payments from the currencies you hold on the account are also free. There is however a small charge when exchanging between currencies typically 0.5% (variable), and when spending in currencies that you hold.
ATM withdrawals are free up to £200 equivalent a month.
Mettle – best for ATM withdrawals
Mettle is a digital only business bank account from Natwest. Launched in 2019 it offers basic business accounts to self employed individuals and small business.
Not only is the Mettle completely free to open, there are no ongoing service charges, and crucially for this article, no fees on foreign spending, or ATM withdrawals at home or abroad. Zero.
The account has full FSCS protection up to £85,000 and is backed by highstreet stalwart Natwest. The cherry on top, is that is comes with a free ongoing subscription to FreeAgent accounting software.
The downsides are that there are no international payment options, so you can’t send or receive bank transfer from abroad, but for general business travel such as booking flights and hotels, or visiting conferences or exhibitions, it will serve you well.
>> Get a Mettle business account
Starling – best overall business account
Starling was our go to for business and personal use, and travel. It still is a great account, but more recently it closed applications to its EUR and USD accounts.
Despite that, the main Starling Mastercard debit card, can be used both aboard at the point sale, or for withdrawing cash at foreign ATMs without any additional fees. It can also be sued for online purchases and orders, all at the Mastercard exchange rate without any additional load.
Starling also offers international bank transfers but if needing to make regular transfers abroad you’d be better off using a dedicated multi currency account such as Wise.
See our long term Starling business bank account review for all the details.
Revolut for business – the best for foreign exchange and receiving payments
There aren’t many accounts that balance the needs of small business with freedom offered by enjoying fee-free foreign exchange and spending. The Revolut for business card does just that. It picks up where the personal account left off and offers a fully fledged business account, with fee-free currency and the ability to hold money in any one of 24 different currencies.
The account also comes with a myriad of other features, but as this article is mainly concerned with travel and foreign currency, these will have to covered in a separate post.
There’s a lot of like about the account besides basic currency exchange, and foreign spending. For instance, all euro transfers are SEPA instant, and confirmation of payment is provided in the app as downloadable PDF. This can be useful when doing business with companies in Spain and other EU countries that often ask for proof of sending.
One drawback of the Revolut for business is account, is the cost. Unlike others in our list, the Revolut business account carries a cover charge of between £6.99 – £25 for small businesses depending on their structure and requirement, but those that need it need it’s powerful multi-currency features will find they are likely to save that fee many times over.
Freelancers, and self employed individuals might be interested in the Revolut Pro account. This is a free account specifically aimed at micro businesses, and freelancers. To get a Revolut Pro account you need a standard (free) Revolut account, then you apply for Pro account from within the app.
>> Get a Revolut business account now
Currensea business account
Rather than act as an account that you have to top up and keep track of, Currensea’s dedicated travel card that acts as a middleman between your existing business bank account, and the retailer.
When using your Currensea card, you pay in the local currency, and Currensea then debts your current account (via DD) with the amount in GBP. As far as your bank is concerned, your spending is in the UK, and so avoids any currency conversion, loading, or other fees common to high street business accounts.
Due to the way it works, Currensea is ideal for those who don’t want the hassle of opening and managing another bank account.
Want to know more about Currensea? See our detailed Currensea review
Or sign up for Currensea here and enjoy £10 cashback on your travel spending.
Business expense cards
If you’re looking for something to make travel easier for your employees, then see our guide to the best business expense cards.