Canadian cards that print no foreign transaction fee
Some Canadian cards add about 2.5% when a purchase is in another currency. That percent is usually inside the Canadian dollar amount, not a second line named foreign fee. The bank by bank table is already on [foreign currency conversion fees by Canadian bank](/guides/canada-foreign-exchange-fees-by-bank). This page does not copy it. It adds two cards that table left out, and it says how the percent shows up.
Last updated: October 19, 2026
Last checked: Oct 2026
Cards that print no conversion fee
The Home Trust Preferred Visa disclosure PDF, opened 19 October 2026, prints Foreign Currency Conversion 0%. Purchases or cash advances in a foreign currency are converted into Canadian dollars at the exchange rate set by Visa International on the day the transaction is posted, plus a 0% currency conversion charge. The same PDF says there is no annual fee. It does not print a date in the text that was extracted, so treat the file you download as the current one and check it again before you apply. This guide does not quote a cash back rate from a marketing page.
The Wealthsimple credit card page, opened the same day, says there are no FX fees on purchases made abroad. The FAQ says Wealthsimple does not charge any foreign exchange fees, and that the payment network, not Wealthsimple, still applies a currency conversion rate. A comparison chart on that page says big bank cards are up to 2.5%, with the note that the data was collected as of 9 June 2025. That 2.5% is Wealthsimple's comparison. It is not a line from a bank fee schedule. Use the bank table for the bank documents. The page also says you are charged $20 a month if you have under $100,000 in individual assets, unless you set up a monthly direct deposit of $4,000 or more to a Wealthsimple chequing account. Quebec clients are charged annually. That monthly fee is effective from 10 July 2025 for existing credit card clients. No FX fee does not mean the card has no fee at all.
What the older table already covers
The foreign currency page, from documents opened 16 October 2026, already prints 2.5% or 2.50% for named RBC, TD, Scotiabank, BMO, CIBC, National Bank, Desjardins, and Tangerine documents. It also says Scotiabank Passport Visa Infinite, Passport Visa Infinite Privilege, Gold American Express, and Platinum American Express have no foreign currency conversion fee, and that the EQ Bank Card has no foreign exchange fees. Those rows stay on that page. Simplii still does not have its own percent there, because a Simplii page with a percent was not opened.
Tangerine's bank fee schedule, cited on that page, says the 2.50% is added to the exchange rate and reflected in the Canadian dollar amount. BMO's cost of borrowing PDF says the network rate is what you pay, plus 2.50% on a purchase. You often will not see a second line that says foreign transaction fee. Compare the Canadian dollar amount on the statement with the foreign amount on the receipt if you want to see the gap. A merchant that converts the purchase into Canadian dollars at the terminal is a different charge, on dynamic currency conversion.
How to read your own line
Write the foreign amount, the Canadian amount, and the merchant. If the card you used is Home Trust Preferred, Wealthsimple, EQ Bank Card, or one of the Scotiabank cards named above, the card document says it does not add its own conversion percent. The network rate can still change the Canadian dollar total. If the card is one of the 2.5% documents, the percent is already described on the bank table. A US issuer's percent is a different page, foreign transaction fees.
Upload the statement on Expenvo. The PDF stays on your device. Expenvo lists the lines. It does not sign in to the bank or the card company, and it does not cancel a card or a purchase.
Questions
- Does no FX fee mean the exchange rate is zero?
- No. Home Trust still converts at Visa International's rate. Wealthsimple says the payment network still applies a conversion rate. The card is not adding its own percent on top.
- Why is there often no separate 2.5% line?
- Tangerine's fee schedule says the percent is reflected in the Canadian dollar amount. BMO adds 2.50% to the network rate on a purchase. The bank table has the document for each bank.
- Is the Wealthsimple card free?
- The page says no FX fees. It also prints a $20 monthly fee if you have under $100,000 in assets, unless a $4,000 monthly direct deposit waives it. Quebec clients are charged annually.
Sources
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