Top Banks Suitable for Travelers in 2025
Article: Top Banks for Travelers and Wealth Management Services
In the realm of banking, some institutions stand out for their offerings tailored to travelers and those seeking comprehensive wealth management services. Among these, Citigold and Bank of America's Preferred Rewards program are worth a closer look.
Citigold, a banking package offered by Citibank, provides a host of perks for its clients. With a combined balance of at least $200,000 in eligible deposit, retirement, and investment accounts, one can access this exclusive service. Citigold customers enjoy investment guidance and financial planning services from a wealth management team, as well as fee waivers and access to special cultural events.
One of the standout features of Citigold is the reimbursement of up to $200 for certain subscriptions and memberships, including Amazon Prime, Costco Wholesale, Hulu, Spotify Premium, TSA Precheck, and Global Entry. Moreover, Citigold clients pay no monthly service fees for a checking or savings account and receive unlimited reimbursement of global out-of-network ATM fees.
For those with accounts with a combined balance of at least $1 million, Citigold Private Client offers enhanced benefits and up to $400 in annual subscription rebates. Citigold customers can also access Citigold lounges in select U.S. cities and international locations. With 650 branches in the U.S., Citibank's Citigold program has a significant presence, particularly in Chicago, Los Angeles, New York City, Miami, San Francisco, and Washington, D.C., metro areas.
Additional lifestyle benefits for Citigold customers include private dinners with top chefs and VIP access to music and theater events. The financial-data provider used in the analysis is Curinos.
Meanwhile, Bank of America's Preferred Rewards program is another contender that increases its benefits based on one's balance. The program has four tiers: Gold, Platinum, Platinum Honors, and Diamond Honors. The Gold tier offers a waiver of monthly maintenance fees on up to four eligible checking and savings accounts.
For travelers, banks offering features such as fee-free ATM access and waived currency-conversion charges are particularly attractive. In this regard, Charles Schwab, Capital One 360, Discover, Wise, and Revolut are strong choices.
Charles Schwab stands out for travelers with its Schwab Bank Investor Checking account, offering no foreign transaction fees, unlimited worldwide ATM fee rebates including third-party fees, and 24/7 customer support. Capital One 360 is another strong contender with no foreign transaction fees and no ATM fees at in-network ATMs but does not reimburse out-of-network ATM fees. Discover Bank offers no foreign transaction fees and no ATM fees at in-network ATMs but does not refund third-party ATM fees.
Wise (formerly TransferWise) excels with its multi-currency accounts, providing very low fees on foreign exchange (starting at about 0.57%) and two free ATM withdrawals monthly before small fees apply. Revolut provides no fees on in-network ATM use and limited fee-free currency exchange transactions but charges 2% for ATM withdrawals out of network.
In summary, Charles Schwab's Investor Checking account is often considered the top U.S. bank for travelers due to its zero foreign transaction fees, unlimited ATM fee rebates worldwide, and strong customer service. Capital One 360, Discover, Wise, and Revolut provide alternatives with varying balances of ATM access, fees, and international currency services depending on traveler needs.
[1] Source: NerdWallet [2] Source: Forbes Advisor [3] Source: Bankrate [4] Source: The Points Guy [5] Source: The Simple Dollar
The defi industry, with its focus on personal-finance and innovative solutions, could potentially collaborate with traditional banking-and-insurance institutions like Citibank and Bank of America to offer more comprehensive services to clients. For instance, Citibank's Citigold program, designed for customers with substantial assets, includes reimbursements for certain subscriptions and memberships, fee waivers, financial planning services, and access to exclusive events.
On the other hand, for travelers prioritizing banking services, finance providers such as Charles Schwab, Capital One 360, Discover, Wise, and Revolut stand out for features like fee-free ATM access, no foreign transaction fees, and competitive exchange rates. These options cater to varying traveler needs and preferences.
