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American Express has announced that it will be removing foreign transaction fees temporarily on the business checking product. The following notice was given to account holders:
Effective July 17, 2024, we are temporarily suspending Foreign Transaction Fees for cash withdrawals and purchases made with your Business Debit Card. You will not be charged a Foreign Transaction Fee for cash withdrawals and purchases in foreign currency made with your Business Debit Card until we notify you otherwise. ATM owners or merchants may charge a separate fee on foreign transactions.
We will provide you with advanced notice of when we will resume charging the Foreign Transaction Fee.
It’s unclear why this change is being made and also why it’s only temporary.
Hat tip to DDG
This was published by Doctor Of Credit, to read the complete post please visit https://www.doctorofcredit.com/american-express-business-checking-removing-foreign-transaction-fees-temporarily/.