One in three Australians travels overseas every year, and many get stung with excessive transaction costs when accessing money.
International ATM fees range from $2 to $5 per withdrawal to access your own money - while credit card purchases attract a transaction fee of between 2 to 3 per cent.
Now one bank is scrapping those charges - but there is a catch.
Like many Australians, Phoenix Menday is familiar with online fees when shopping overseas.
"If I was able to purchase that item in that currency and not have the sneaky hidden fee, that would be awesome."
ING Australia has dropped fees for international transactions and online.
Melbourne-based Ashrut Khattar who often travels abroad in relation to his work feels that in principle it is agood offer to customers but people must read the terms and conditions.
Head of Retail Melanie Evans says ING has also scrapped global ATM fees.
"One in three Aussies are packing their suitcases and heading overseas each year. We've got almost half of the ING customer base currently shopping globally from their lounge room."
The move is certainly good news for travellers like Pheonix Menday.
"You'd check your online banking account afterwards and you'd see this outrageous fee, and that five-euro gelato turned into an eight-euro gelato."
Research by financial comparison website Rate City shows a person who spends $5,000 a year overseas would save $171.
Rate City's Sarah Tindall says it's a significant saving.
"There is nothing better for us to see than competition in the market place. ING has taken it to the next level, we want to see other providers do that."
ING has never charged its Australian customers a fee to use ATMs.
To gain the same benefits overseas, current and future customers only need to deposit $1000 a month, and make five transactions in the same period of time.
ING's move puts the pressure back on the big four banks, which do offer travel-related cards with varying benefits.
The move marks further steps, and a chance to extend the goodwill, generated by the big four banks' September decision to scrap local ATM withdrawal fees.
Ashrut feels that the big four banks may not come under pressure as most Australians who travel a lot like him keep multiple bank accounts.
