American Express has made a significant announcement that will benefit business owners who frequently travel abroad. Effective July 17, 2024, American Express is temporarily suspending foreign transaction fees for cash withdrawals and purchases made with their business debit card. This means that business owners can now make transactions in foreign currency without worrying about additional charges.
However, it's important to note that ATM owners or merchants may charge a separate fee on foreign transactions. American Express will provide advanced notice of when they will resume charging the foreign transaction fee. This temporary change is likely due to the current economic climate and the desire to support small businesses during these challenging times.
Whether you're traveling for business or pleasure, this announcement from American Express is sure to make your life easier and more cost-effective.
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