Transaction fees are imposed on payments that take place overseas or with a foreign merchant. These often vary from locations to banks, but these fees will typically appear on your bank statement. The easiest way to find out what your bank charges for foreign transactions is to check their Summary Box on the website for your particular credit card. There you should find a section titled “Non-Sterling Transactions” or “Foreign Usage” which will give you a breakdown of everything you need. The average foreign transaction fee on most credit cards is 3%, with the exception being if you own a no-fee travel credit card.