Does Apple Card have no Foreign Transaction fees?

Goldman Sachs Bank does not charge foreign transaction fees. Apple Card is on the MasterCard network and MC will charge you a currency conversion fee based on the exchange rate the day the charge is presented for payment by the merchants credit card processor.

A foreign transaction fee is a charge many credit cards (banks) placed on top of the currency exchange rate MasterCard, Visa etc. charge. Average foreign transaction fees range in the are of 2 to 4%. Apple Card does not charge foreign transaction fees.

Yes, that’s correct. Foreign transactions fees are on top of currency conversion fees. Apple and Goldman Sachs cannot dictate how Visa, MasterCard, American Express and other Payment Network Operators do payments. The currency conversion fees may vary between different PNO’s.