Now that the 28degrees master card is charging a 3% fee on cash advance.
What is the cheapest way to access cash overseas (USA primarily)
At the moment this is probably still cheaper than using my Visa Debit (2% fee and 4$ ATM fee?)
Is there anything better out there?
Yep. For more information on exchange rates, see http://www.citibank.com.au/global_docs/onlinetools/ci1.htm
Those rates are for Drafts, Telegraphic Transfers. for using an ATM overseas eg. 'Merca you get the 'Visa rate' at the time, plus the ATM may charge a atm fee (set fee)
Are you sure? I've always been confused about the rate they actually use.
My understanding is that the 'visa rate' is the base-rate at which issuers (like Citibank) perform the conversion (which may then contain a markup). There were several discussions on OzBargain as to whether the "visa rate" is imposed (since no markup is ever discussed?) or whether their "base-rate" has already been modified.
The linked "visa-rate" currency-convertor at http://www.visa-asia.com/ap/au/cardholders/tips/foreign_curr… was different to that Citibank link at the same time so I just assumed there was an inherent markup to all transactions, since the footnote states "These indicative rates apply to all transactions (other than online transfers to a Citibank account overseas) up to the equivalent of AUD 20,000."
Definitely Citibank Plus for the USA. In NYC, there are Citibank ATMs everywhere. European countries, not so much
Virgin & Qantas now offer cash travel cards as part of their frequent flyer program. Worth investigating…..
Citibank ftw!!
Currently in Europe ATM and it's brilliant. We've been across the world and I've only see an ATM charged twice (in Turkey) but you can use any ATM and it won't charge you a cent/euro cent/insert other cent currency here. The interface is a bit rubbish and everything to do with Citibank feels ye olde school but for bottom line saving you money I haven't found anything better than this. I've worked out that the official traded currency rate/how much actually comes out of the account is around 1% ish. Amazing compared to other rip off merchants. Only other con is that the cards don't have chips but this usually isn't a huge deal.
Get on the City pony!! The little engine that could in debit card circles…
Go to your bank and purchase currency on a travel visa card. You prepurchase the currency of the country you are going to. You can only spend what money you put on the card. You can recharge it via the web. Apart from the initial purchase fee (in my case it was $11) there are no transaction charges. You can access cash and also use it as a visa card while you travel. If it is stolen you get a spare card that you can activate. You also limit your risk to what money is on the card if the worst was to happen
Has anybody else had their citibank account cancelled? Apparently if you don't use it you lose it!
No warning - just a letter in mail saying account is closed due to non-activity.
So I suggest just depositing $20 bucks and drawing it back out to keep account active.
citibank plus account.