【October 5, 2026 update】 Added the 🇨🇦 Capital One Quicksilver World Elite Mastercard and its lower-tier World Mastercard. Both have no annual fee and no foreign transaction fee.

Introduction

Most Canadian credit cards charge a 2.5% foreign-exchange conversion fee on spend abroad. Frequent travellers and deal hunters fly and shop on foreign sites often enough that a no-foreign-exchange-fee card is essential. This post lists Canadian-issued cards with no FX / foreign-transaction fee.

Remember this first: abroad, always settle in the local currency!

When you swipe overseas, some terminals ask whether to pay in local currency or in your card’s billing currency. Always choose local currency. The conversion rate baked into the POS (DCC: Dynamic Currency Conversion) is terrible—worse than Visa, Mastercard, or Amex plus 2.5%. Pay in local currency and let Visa, Mastercard, or Amex settle it. The rate is usually much better.

Canadian no-FX credit-card list

Credit card Annual fee ($) Cash back Other
EQ Bank card 0 0.5% No fee at ATMs across Canada
Home Trust Preferred Visa 0 1%
MBNA Amazon.ca Rewards MasterCard 0 – Amazon Prime members earn 2.5% on foreign spend
effectively no FX fee
Scotiabank Gold Amex 120 x% Same earn rates as in Canada: 5% groceries/dining, 3% transit
Scotiabank Passport Visa Infinite 150 1%
Scotiabank Passport Visa Infinite Privilege 599 1%
Scotiabank Passport Visa Infinite Business Card 199 1.5%
Scotiabank Platinum Amex Card 399 1.5% $200 travel credit
Crypto.com Visa
Wise Card
Wealthsimple prepaid Mastercard		 0 All prepaid
overseas ATM FX is reasonable
(Wise has a cash-withdrawal cap)
Wealthsimple prepaid business Visa 0 1% Prepaid; ATM surcharge rebates cancelled
Meridian Visa Platinum Travel Rewards Card 49 – First year free
2 points per $1 of FX spend, which roughly offsets the 2.5% fee
Rogers World Elite MasterCard 0 0.5% 3% back on USD only, so net 0.5% on USD spend
other FX still has the 2.5% fee
Rogers Red World Legend Mastercard 495 3%
RBC Avion Visa Infinite (HSBC) 120 1x Product-changed from HSBC WEMC, so no FXF link
Wealthsimple Visa Infinite 0* 2x 2% cash back on all spend, no cap
conditional $0 annual fee
Wealthsimple Visa Infinite Privilege Card 0* 2x 2% cash back on all spend, no cap
conditional $0 annual fee

From Canada you sit next to the U.S., with China as the world’s factory behind you and Europe across the water. For shopping or travel, a no-FX card is not optional.

⚠️ Note: Scotiabank Gold Amex has been confirmed to earn the high bonus rates abroad too: 5x groceries/dining, 3x transit. 【September 9, 2024 update】

Keywords: Canadian credit cards, Canadian FX conversion fee, Canadian overseas-spend cards, Canadian no-FTF cards, Canadian no-currency-conversion-fee cards, Canada Credit Card no FX, foreign transaction fee

Other Canadian credit-card roundups

🇨🇦 Canadian credit cards — bonus-category roundup

🇨🇦 Canadian credit cards — airport lounge benefits

🇨🇦 Canadian credit-card points to airline miles

🇨🇦 Canadian no-FX / no-foreign-transaction-fee credit cards

Previous updates

【July 15, 2026 update】 Added the Wealthsimple prepaid business Visa card.

【February 10, 2025 update】 Added the PC Money Account. It is not a credit card, but it is unique in Canada, so it belongs on this list:

Do I pay a fee when I make transactions in a foreign currency with my PC Money™ Account? Not anymore! Starting February 6, 2025, we will no longer charge the foreign currency conversion markup when you make transactions in a foreign currency with your PC Money™ Account.