$5 monthly cashback for eligible Yello Gold tier.
World Debit MasterCard can be upgraded in the CommBank App in the cards tab.
Good product to consider for those that previously used the NAB-Citibank Plus migrated account overseas.
Full details on the link and in CommBank Yello tab of the CommBank App
I'd also refer to this page for other options.
https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…
I'd agree with AircraftFreight that my go to would probably be wise, their brilliant exchange rate normally makes up for the small fees.
Revolut is good for a digital travel card in my experience.
Yeah I dont like $120 for debit card but why avoid credit card travel insurance? I already have it with my Amex card anyways, so why pay more for a double up of travel insurance?
Just often policies that are inferior to what you would get when purchasing direct, (ie. more coverage and options for additional coverage, a lower excess etc) - most credit card providers require activation, a certain period in advance or must purchase a return booking on the card.
Myself personally I just have a single annual, $0 excess policy with CoverMore and it just works.
I've found it cheaper with less exclusions with CBA cover, ymmv
I've done a comparison every time I've gone overseas, and my credit card insurance is either equal or superior to anything but the most gold plated travel insurance I can find. There's only a small handful of insurers in Australia, and the credit cards are just group policies identical to what you can buy straight out. I've seen PDMS that are literally identical to my credit card.
I've claimed in my credit card insurance five times. The only times I had any issues was COVID (they still paid out, on a technicality that I had to argue) and when I used a cheap online travel agent that wouldn't answer my emails asking for confirmation I wasn't eligible for any refund (still paid out eventually, after I showed them an email chain of me trying to get the information and confirming I hadn't received any refunds).
@aiymen: The majority of my claims were made against my ANZ FF Black, but I also recently claimed against my St George Platinum. No problems with either. Both are Allianz and extremely similar.
Well, depends. The underwriter may well be the same as a separate/'real' insurance plan. Which also might not want to pay out either.
The $0 ATM charge is that for overseas as well?
Yes but sadly there is a small catch, its only for the first 2 transactions up to $350 AUD each month - anything above its $1.50 and 1.75%.
However;
Because of how high the exchange rate is at Wise, even after fees its still better than most international debit card providers through MasterCard/Visa - including this.
However I can sometimes get around this buy getting cashout at supermarkets overseas etc or from Post Offices in the UK/NI.
When you say exchange rate is high are they as close to spot rate? I have a wise account but never considered their debit card.
@nightelves: Currently: TradingView AUD/USD 0.65565
Currently: Wise AUD/USD 0.6557
CommBank Loading USD from AUD: 0.62990
@AircraftFreight: How are you able to check? Would like to know whats the comparison between AUD/VND.
@nightelves: Always keep in mind there can be card fees and fees charged by the operator of the ATM. Meaning a $0 fee card might still incur ATM fees enforced by ATM operator.
For Vietnam macquarie and ubank debit were my goto.
Do your research for Vietnam ATMs: some have a fee which they only show after you entered the amount and correct pin and don't have an option for you to cancel the transaction.
There are fee free ATMs too. A lot is still cash only.
In touristic places on busy weekend days, fee free ATMs can be empty early in the day, so better prepare.
Some places had the option to "pay by card" with "only" 4-5% surcharge.
@johnmelb: Yeah I’ve been using Macquarie debit card and credit card for Vietnam payments. However it seems @AircraftFreight is saying the Wise card has better rates.
@nightelves: It's just more convenient that I didn't need to bother about max withdrawal limit (which you do have with the wise card).
An example:
I sent 250k VND via Wise to a merchant on 5th December with Wise, that converted to $15.29 AUD + $2.2 Wise fees ($17.49 AUD).
Macquarie debit is using Mastercard rates
The mastercard rate was 15.35 AUD, so that's 0.39% on conversion. So definitely Wise is not better for cash withdrawals after the free limit.
So potentially it "costs" you $1.37 AUD on $350 AUD equivalent (using Macquarie vs Wise). But if you take $1k AUD out of the ATM it would cost you more with Wise in the end.
(As a true ozbargainer you would take the $350 equivalent out of the ATM with Wise and the rest with Macquarie..)
All my transactions via Macquarie were Mastercard rate with 0% fee - I checked most of the big ones (note that when you pay on the 18th of the month, if the transaction settles on the 19th, the mastercard rate will be from the 18th when you made the transaction).
@nightelves: I think ing rebates up to 5x for foreign atms month. Its more handy here in thailand that fee can be 250baht now so like $11+ saving each time.
@shadowangel: The fees charged by Thai ATMs for non-Thai cards are international ATM operator fees and therefore have not been rebated by ING since 1 August 2023.
International ATM operator fees are totally separate to ING's own International ATM Withdrawal fee. (Note that ING will be removing its International ATM Withdrawal fee and its International Transaction fee from 15 October 2025, meaning no more need to meet monthly eligibility requirements to avoid these.)
@AircraftFreight: That’s from the Wise marketing department.
BS comparison my spidey senses says.
For example, it gives OFX exchange rate, but when you go to OFX website it gives a better rate. Why? It’s giving fake/selective figures.
I also checked with Remitly, same thing.
@AircraftFreight: That's not the spot rate for card transactions. That's for conversions when sending currency. Pretty much all issuers use the Visa or Mastercard spot rate when making purchases. (Travel money type cards don't count)
@lolcoaster: There's no convincing Wise and Revolut converts — they're too far sucked in by the marketing.
I wouldn’t touch wise.
Funds held with Wise are not covered by the Financial Claims Scheme (FCS) up to $250,000.
Now I dont know about you;
But a TRAVEL debit card - whoever is loading up $250,000 or any substantive form of money for the purpose of travel is better off using their Amex Black Card.
And even if the FSC were to step in if CommBank failed tomorrow, the only issue is that it would take weeks or months before you would receive any form of payment and if you are already overseas you are a bit screwed regardless. As all accounts would be frozen.
For the people using Wise for travel who are loading at any single time, maybe $5000 per chance - you are fine, even if you are using PayID as you go to transfer funds instantly and without fee into your Wise account.
True, Then again I don’t travel with just one card.
100% agree with the above.
No wise (!) person is using an entity not covered by the Financial Claims Scheme (FCS) when there are so many great alternatives available to Australians.
Travel insurance might be worth it?
Wise does not have the best exchange rate despite what their marketing department says. Most cards will use either the Visa or Mastercard network for international transactions and those rates are 90% of the time better than Wise (marginally to be fair but im sick of people saying wise is better). The only thing making them more expensive is any added international fees from the bank.
Yep, never had any need for Wise (or Revolut, for that matter) when there are just so many other Australian banking options available.
Agree. I never understand why people keep promoting Wide despite the huge drawbacks, like the limit of withdrawals to $350 a month. How is that a good card? Nobody wants to keep track of their withdrawals to avoid fees. there are better options out there with no such limitations
How is Wise exchange rate the best?
It's very close to the MasterCard exchange rate.
Today, it's even lower for USD.
WISE is absolutely amazing, I can’t believe they don’t sting you with fees….. yet!
They dont really need to - considering their reported profit before tax increased to £564.8 million, I think they are doing just fine
Just like other banks etc, I’m sure they will get money hungry at some stage
Wise has high ATM fees
Sometimes it has a worse FX rate compared to Visa/mastercard
Also less protection compared to a regular bank if your card gets stolen
$120pa for a debit card is sure nuts, but $10 for 2 lounge passes sounds like an attractive deal, especially if it is on some relatively niche programs such as dragonpass.
Per, https://www.commbank.com.au/commbank-yello.html
CommBank Yello Diamond
Oh, ok. Just 250k for 15 days, or a home loan of 1m plus… lol.
So the $250k for 16 days gets you Yello Diamond for a year?
Same page,
"If you meet the criteria, you’ll get access for the next 3 months. We check eligibility in the first week of the month, based on your activity last month"
And offset accounts aren't included in eligible balance
Thanks for the details 👍
This offer is for Yello Diamond
Yello Diamond: balance of $250K for any 15 days or $1M home loan
Yello GOLD: balance of $50K for any 15 days or <$1M home loan
Yello Plus: balance of $500 for any 15 days or be under 26
AND needs
Min 15 eligible transactions / month
Yello: Min 5 eligible transactions/M
That's reassessed every 3 months…
Wondered why I don't receive any offers on my MC (tier Yello)!
Can do better things with my money, am over 26 & own my home outright.
outright ????? such a rich man
Unexpectedly inherited old house. Paid $200 to transfer. Lots to repair!!
Best to keep in good with elderly relatives😉 Loaned them money to enjoy their life. Didn't expect the house!
@INFIDEL: age only 26 , lease it out, positive income stream, so happy
mortage it, then all in Bitcoin with those money
@uccoffee: Am living in it.
Retired in my 30's🌴
So asset rich, income poor.
Traveled overseas up to 9 months a year before inheriting. Didn't need a house or vehicle then. Loved that lifestyle.
Thinking of moving overseas. Leasing a place in a low cost country. Renting or selling my house. Met many doing that.
also for gold its $5 off so the card is $60 a year, a feew times ive save $100 on fx fee's on overseas transactions
$250K for 15 days using the net saver as a new user seems "OK"
but transferring 250K out with CBA needs to be done in the branch , too much effort
and transferring in / out might cost 2+2 days interest , that is around $120
and that's only 3 months diamond tier …
I've had gold for a few months, get the $4/month cash back in the trans account and haven't seen much use in any of the other offers on that level.
Home loan is about $560k + trans acc and don't meet any of the other criteria.
Wrong.
CommBank Yello Gold
- Have an eligible CommBank transaction account
- Make 15+ eligible transactions from an eligible account/s
- Keep an eligible balance of $50K for any 15 days (or more) OR have a CommBank combined funded home loan/s less than $1M
Source: https://www.commbank.com.au/commbank-yello.html
All of the above are required.
@metalslaw Is this a different offer to the original post?
It doesn't apply to the World Debit Card above right or am I understanding it wrong?
The World Debit Mastercard comes with no CommBank fees for purchases in-store or online and ATM withdrawals, without having to sign up to commbank yello. It has a $10 monthly fee.
However, to get the cashback the OP indicates in the title, you have to sign up to this card, then sign up for commbank yello as well.
About 1 page down on the OP's link,
"You could get monthly cashback on the World Debit Mastercard with CommBank Yello, our customer recognition program. Eligibility criteria applies"
Then it gives the link to the page I shared, https://www.commbank.com.au/commbank-yello.html
Sorry it wasn't clear in my post that it was only in relation to the cashback part needing commbank yello as well.
@metalslaw Thank you for the detailed reply! It makes sense now.
Not a CBA customer, so first time I looked at the yello offers and was a bit confused.
LMAO 250k for 15 days @ 5% is like $500. You would be crazy doing that for a whopping $10 fee waiver of 3 months.
CBA loves crazy customers :)
I have the plus tier and have never received an offer. The app always says “We’re working on exciting new offers for you.check back later”
Gold tier gets $5 off a month as you’ve pointed out
$60/year for me is worth it for lounge passes, international fx and ATM free.
I’m sick of buying off “Australian” websites and getting hit with forex fees
You need an Amex, they don't do it.
RBA should ban the practice of these charges which comes from the fact all transactions are converted from Australian Dollars to US dollars and then back. Amex transactions work a little differently.
I have this card, it’s great, I get it for a year free for my CBA tenure, I just complain about the fees at the start of each year.
I have no idea how I got it years ago, it was free for like 3 or so years till the “trial” ended but people still can’t just apply for it.
Although I use my CBA ultimate awards cc card.
Same benefits pretty much and no fee to worry about.
Hey do you know how many people i can take to the lounge and kids
Ive only ever taken myself and my mrs.
It’s now dragon pass too
If it's dragon pass you can take as many people. I've got a similar thing with Bankwest and have taken the whole family of 4.
i always tried to get the bankwest version, it would never go past the ID verifcation
it was free for like 3 or so years till the “trial” ended but people still can’t just apply for it
Now anyone can switch to it - https://www.commbank.com.au/banking/debit-cards/switch-your-…
ohh i didnt know. wow
Matty boy peeing over Andy's loss?
It says I'm not eligible when I go through the Netbank process. Anyone else hit this issue?
Nevermind, seems to have worked after a refresh
I can't see any offer in the app. I assume this just automatically associated with your cba yelo tier anyway like the other product discounts?
Updated Deal Title: Diamond Tier!
I have diamond I just did the card switch. See what happens!
If you read the info published by CommBank it tells you what happens.
@phoeb Hey, where did you see the cashback offer in the app?
Before switching via netbank, when did the cashback thing come up?
I am almost at the checkout but cant see it
@Jazzzy-b: You go onto the Yello page at the bottom right of the app.
You scroll down until you see your benefits as a Gold or Diamond member.
The last option should be Monthly cashback on a World debit card - $5 for Gold, $10 for Diamond.
@lolcoaster: Thanks for this!
My husband has the world credit card and i am secondary holder, do you know if its 1 lounge visits for each of us?
@Jazzzy-b: You get two lounge passes annual as a holder of this World Debit card. You can share one of those with a fellow traveler.
Do you mean the Ultimate credit card? If so, your husband has access to another two lounge passes, same as the World Debit.
So in theory, you have access to 4 each year.
@lolcoaster: Sorry yes i meant hes got ultimate credit card and i am secondary holder, through that card, do we both get 2 lounge passes each? Or is 2 passes per card?
Wanting to double check
How long do you have to have the card before you can get lounge access?
Can I get it for a month, use the lounge and then canx it?
How to downgrade.
Would love to hear about the answer to this…want to access the insurance + lounge access just for a month..
Read the terms and conditions and let us know.
There’s nothing really in there that covers it. From what I can see the fee is charged monthly in advance so if you cancel there is no fee for the following month, and there is no mention of a waiting period before the lounge passes are granted rather you just register with the MC/DragonPass app like with the Ultimate card
and there is no mention of a waiting period
You did the hard work for @worldaroundus123
Or just get yourself "UP" account with free debit card.
Monthly Service Fee - Free
Direct debits - Free & unlimited
Online payments - Free & unlimited
Deposits to Savers - Free & unlimited
Domestic ATM withdrawals - Free at most major Bank ATMs
Domestic ATM enquiry - Free at most major Bank ATMs
International transaction fees - 0%
International ATM withdrawal - Free at most major Bank ATMs
International ATM enquiry Free at most major Bank ATMs
But without the Perks when travelling
No Free Lounge Access
No Free Travel Insurance
etc…
Already use UP
Always best to use more than 1 card when travelling! Had a card retained by ATM when overseas. Luckily had another bank's card.
These rewards programmes are about tying you in with all your banking to one provider.
A true OzBargainer would be searching for the best deal for every element of your banking needs.
CommBank Yello = is code for Lazy Tax
Obviously that's the purpose of ALL loyalty rewards programs.
But this Reward takes it to the extreme🤪
You need Yello Diamond Tier: balance of $250K for any 15 days or $1M+ home loan!!!
Have better things to do with my money💰
My free Commbank StepPay MC is most basic Yello Tier.
Use it at shops every week, even though has NO REWARDS. Just delayed payment.
(Cancelled all CCs when fees were introduced.)
Consider other financial options.
Best not to rely on just 1 card when travelling!! Things can go wrong.
It's not totally black and white if you have a mortgage with CBA anyway (at a decent rate compared to what you can get elsewhere), then it's a free perk.
Also requires you to transact with CBA, furthering the lock-in.
mortgage with CBA anyway (at a decent rate
Is this actually a thing ? I find it hard to believe the big four are ever offering the best rate.
Agreed. CBA isn't making billions in profit from being cheapest.
Most customers are stupid, lazy, or trapped in the rewards program.
I have a CommBank account I transfer $2k into every month and then transfer it out across 5 transactions. That ensures the account is fee free and I get Yello which generally offsets the negligible amount of lost interest on $2k being out of my savings account for 2 days.
I also have an Ultimate Card I’ve had for a number of years and never once paid an monthly fee on while using their lounge passes every year and accruing hundreds of thousands of points as it has the best VA earn rate on fee free OS spend.
Yello doesn’t tie you to CBA at all
I have a CommBank account I transfer $2k into every month and then transfer it out across 5 transactions. That ensures the account is fee free
Seems like you have too much time on your hands.
I also have an Ultimate Card I’ve had for a number of years and never once paid an monthly fee on while using their lounge passes every year and accruing hundreds of thousands of points as it has the best VA earn rate on fee free OS spend.
Probably because:
Pay no monthly fee if you spend at least $4,000 in your statement period.
Source: https://www.commbank.com.au/credit-cards/ultimate.html
Yello doesn’t tie you to CBA at all
It's CBA's aim to enmesh customers into its system, making them less likely to leave.
Way too much time on my hands but I’m pretty sure you can get Yello with just a trans account.
Very much don’t think I’m enmeshed, they simply have the best credit card offer on the market based on my spending patterns.
So I'm about to head away for 3 months (NYC, Colombia, Brazil, India) and I've always been so terrible with the financial stuff abroad. I've got a Macquarie card (shared account with my partner I'm travelling with, have a Ubank card (mostly empty but could put money back into it) and a comm bank standard debit.
Are any of those good for travelling? The Macq and ubank says no transaction fees but then there is all this exchange rate stuff I never fully get my head around.
What are people recommending for travelling these days? Is there any credit card insurance that's actually worthwhile and skipping direct travel insurance. TIA for any guidance.
$120p.a for a debit card? Unless if you are making use out of all of those lounge passes, I would highly avoid any credit/debit card travel insurance and simply purchase policies specific to your travels.
Wise - FREE physical card with a referral, BEST FX rate, 0% FX fees with the card, $0 ATM withdrawal charge and just overall a better product.