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No International Transaction Fees with Coles Reloadable MasterCard (One off $10 Card Fee Applies)

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No International Transaction Fees with Coles Reloadable MasterCard (One off $10 Card Fee Applies)
Go to Deal
dextertheboygenius on 15/06/2016 - 18:36 financialservices.coles.com.au (2231 clicks)
Last edited 29/06/2016 - 15:31 by 2 other users

Pack a Coles Reloadable MasterCard and we'll waive the currency conversion fee until 31 December 2016 yes, this means you'll pay less to spend overseas!

Plus, travel with a Coles Reloadable MasterCard and:

  • Collect 1 flybuys point for every $1 you spend overseas+
  • It's free to reload, no monthly fees, and you can keep using it at home
  • It's easy to buy and top up, again and again
  • Use anywhere MasterCard is accepted - that's over 38 million locations worldwide.~

You also get the security of a MasterCard with 24 hour, worldwide protection and a fraud monitoring system which identifies unusual activity on your prepaid card and sends you an alert.

A one-off card purchase fee of $10 applies. Removal of international currency conversion fees applies until 31 December 2016 and applies to Coles Reloadable MasterCard only. View the Product Disclosure Statement to see the applicable fees and foreign currency conversion rate methodology applied by MasterCard. ATM fees, charged by the ATM operator, may apply.

Financial Credit Card MasterCard

Related Stores

Coles Financial Services
Coles Financial Services

closed Comments

  • No on 15/06/2016 - 18:53
    +2

    I got this offer as well. Would the rate be the same as the 28 degrees & citibank plus?

    • jesseboy89 on 15/06/2016 - 20:14
      +3

      28 degrees are now charging you 90 cents if you use bpay to pay off your balance. So if the rates are the same, this could be a better option.

      • [Deactivated] on 15/06/2016 - 20:16
        +5

        Until December.

      • illumination on 15/06/2016 - 20:24
        +4

        Wtf? I didn't know about this! When did they announce that?

        • gimli on 15/06/2016 - 20:47
          +1

          2016

        • illumination on 15/06/2016 - 20:49
          +2

          @Gimli: When in 2016? Just checked my statement and I paid with BPay recently but $0.90 wasn't deducted nor was $0.90 chucked on as an extra charge on my statement..

        • davicta on 15/06/2016 - 21:00
          +5

          @illumination:
          Kicks in on July 11th 2016. It's on the credit card statement last page.

        • illumination on 15/06/2016 - 21:01
          +1

          @davicta: Looks like they're trying to push us to pay with their new "make a payment" page/feature thingo. Thanks for that

        • Mobe1969 on 16/06/2016 - 05:27

          @davicta: Damn. So how do you pay without bpay? "payments made by mail, by direct debit or by BPAY®' to 'A payment handling fee will be charged to account, except that no fee is payable for payments made by mail, direct debit or via the Online Service Centre'."

          I'll have to figure what the heck that "Online Service Centre" is.

          EDIT - OK, I think I can see how. Doesn't look too bad, I just go to their website and put in my account details there, 3 days before. Seems a bit odd paying backwards that way though.

        • neonlight on 16/06/2016 - 09:54
          +1

          @Mobe1969:

          It appears its under Statements > Pay My Account > you punch in bank details. They jsut want you to pay that way I guess

        • Mobe1969 on 16/06/2016 - 10:32

          @neonlight: Pretty bizarre really for a one off payment, them being able to pull money from your account. I'd have thought that would be more trouble and more difficult than accepting a payment. I'm annoyed by the situation but I'll wait and see.

        • batsxs on 16/06/2016 - 10:39

          @Mobe1969: they can save 0.3-1% credit card merchant fee

        • illumination on 16/06/2016 - 18:03

          @batsxs: They have to pay a merchant fee for BPay?

        • chyawala on 07/09/2016 - 23:14

          @batsxs:
          I thought you cannot pay credit with credit. Maybe debit, but otherwise it simply does not work.

      • Whatisthatvelvet on 15/06/2016 - 20:30
        +2

        Yeah as stated I wasn't aware of this either.

        • davedave on 15/06/2016 - 21:12

          It was mentioned on my last statement. To take effect from July. Can avoid the charge by making the payment at the 28 Degrees website Online Service Centre.

        • Whatisthatvelvet on 16/06/2016 - 06:51

          @davedave:

          Ok will check it out thanks

        • [Deactivated] on 16/06/2016 - 07:39

          I bet the lawyers got a Gold Star for writing this one

          Effective from 11th of July 2016
          The terms relating to the payment handling fee will change from 'A payment handling fee will be charged
          to your account each time you make a payment to your account, except that no fee is payable for
          payments made by mail, by direct debit or by BPAY®'

          to

          'A payment handling fee will be charged to
          your account each time you make a payment to your account, except that no fee is payable for
          payments made by mail, direct debit or via the Online Service Centre'.
          The payment handling fees are $2.50 (in person) or $0.95 (online).
          The paper statement fee is increasing from $2.00 to $2.50.

          So I can send them a cheque! Time to top up the card then.

        • jackystudio on 16/06/2016 - 07:58

          @supabrudda:

          the stamp probably cost more… seems that 95c is unavoidable

        • [Deactivated] on 16/06/2016 - 08:02

          @jackystudio: not if the boss is paying :-) and it'd be worth it just to annoy them. The cost of processing a cheque would cost a lot more then 95c levy they're charging.

          If they'd actually do a Jetstar & publish their account details, so we can direct deposait (which is essentially what their online payment is) then I wouldn't have a problem. Latitude are just shaking the tree to get rid of low profit customers.

        • AlexF on 16/06/2016 - 08:26
          +1

          @davedave:

          Can avoid the charge by making the payment at the 28 Degrees website Online Service Centre.

          As long as you don't try between 10:30pm and 04:00am, because it's disabled. (Learnt by calling them.)

        • davedave on 16/06/2016 - 11:38

          @AlexF: Thanks for that tip. I will try to remember next time I can't sleep

        • illumination on 16/06/2016 - 18:04

          @AlexF: Every night though? I've definitely noticed they always do maintenance at night (as do most banks) but I didn't realise that it was every single night. I'm sure I've been able to login some nights..

        • AlexF on 16/06/2016 - 18:32
          +1

          @illumination:

          I'm sure I've been able to login some nights..

          Not login, option to pay account from bank.

      • justtoreply on 15/06/2016 - 20:49

        Time to cancel my 28 degrees.

        Coles, here I come.

        • WhyAmICommenting on 15/06/2016 - 20:54

          Only till end of year for currency conversion

        • justtoreply on 15/06/2016 - 20:58
          +1

          @spillmill:

          Yeah. It's actually the 90c bpay fee that is ticking me off. Unfounded.

        • RockyRaccoon on 15/06/2016 - 21:48
          +9

          @justtoreply: Dont cut off your nose etc. Its not hard to pay via the 28Deg website, and given theer is no annual fee, why not wait untilk you find a true alternative before cancelling the 28 degrees card.

          According to other posts here at ozB they have to pay Bpay for payments made to it, so they are just keeping their costs down, just like saving on postage for statements. Considering its no annual fee, and the coles card costs $10, its 7 months to end of year, that averages $1.42 per month Vs 90/95c if you must pay by Bpay.

        • moooooooo on 15/06/2016 - 21:59
          +3

          Direct debit is still free.

        • davedave on 15/06/2016 - 22:17
          +1

          @RockyRaccoon: Is the Bankwest Zero Platinum MasterCard a true alternative?

        • noshopping on 16/06/2016 - 02:31
          +3

          Why? 28 deg has the BEST currency conversion rates out of all the credit cards I know. I recently spent $3000 USD, after converting to AUD, I found only a $3 difference to XE.com. That's insane because you usually only get those type of rates when using specialized xfer services.

        • neonlight on 16/06/2016 - 07:53

          @RockyRaccoon:

          How does the online centre work then? I don't like direct debit. So effectively 11/07 they will charge you on your credit card when you pay via Bpay from another bank account. Insane really

          I believe Coles Mastercard also use the same Mastercard conversion rates no difference against 28degrees

        • neonlight on 16/06/2016 - 08:02

          @davedave:

          I heard the currency conversion rates are worse on Bankwest, if someone can confirm

        • gomertose on 16/06/2016 - 09:43
          +9

          @neonlight:

          I thought I'd test this one out for myself, after recently getting the Bankwest card.

          A week ago I was in Switzerland and made a significant purchase. I asked for the payment to be split equally between the two credit cards. The transactions made in CHF were within 2 minutes of each other. The statement amounts in AUD were identical.

        • davedave on 16/06/2016 - 11:39

          @gomertose: Thank you for that research!

        • RockyRaccoon on 16/06/2016 - 13:44
          +2

          @neonlight: You log onto the 28 degrees site and make a payment thru their setup. It can be one off and only made each time you authorise it (by logging in each time you want to pay it). You do it within the 28 degrees website, no need to go to your bank.

          Like others I was concerned, so I tried it this month so I was comfortable with it. Its not as easy as logging into my regular transaction account but its ok.

          Bankwest appears to be a good alternative, and given gomertose's test in switzerland it looks as if the rate of conversion is also the same.

        • bonezAU on 16/06/2016 - 17:51

          @gomertose:

          Did you split between BW and 28deg?
          I've only ever done transactions with BW and Citibank Plus at the same time and have always got a better rate from the Citibank card.

          Perhaps it's just Mastercard's rate was a bit lower than Visa at the times I have tested this theory.

        • gomertose on 18/06/2016 - 09:25

          @bonezAU:

          Yes, payment was with BW and 28d.

      • moooooooo on 15/06/2016 - 21:39

        My statement shows the fee is $0.95, not $0.90.

        It's not much difference, but I mention it as a curiosity in case 28 Degrees are charging varied fees to different customers.

        • moooooooo on 15/06/2016 - 21:58

          Never mind. I just noticed the wiki page shows $0.95 is the standard fee.

      • jackystudio on 16/06/2016 - 07:55

        not $0.95 (online)?

      • davedave on 16/06/2016 - 11:40

        It's 95 cents not 90 cents

        • jesseboy89 on 16/06/2016 - 12:39

          Mistype which has been pointed out several times already. Either way, it's ridiculous.

        • davedave on 16/06/2016 - 12:58

          @jesseboy89: Thanks - yes I see now others have noted the same. Cheers!

      • garylo59 on 22/06/2016 - 17:08

        so whats the best way to pay off 28 degrees?

  • vjknight on 15/06/2016 - 18:54
    +1

    What % is charged on a credit card normally if buying in USD ?

  • Savas on 15/06/2016 - 18:55

    this means you'll pay less to spend overseas!

    I still don't understand

    • UncommonName on 15/06/2016 - 18:58
      +3

      Say, you are buying something from overseas in USD. The card will convert USD to AUD as per MC exchange rate - https://www.mastercard.com/global/currencyconversion/ and there will be no transaction fee deducted by Coles, which would not be the case normally.

      This is everyday business at 28 Degree.

      • [Deactivated] on 15/06/2016 - 20:28
        +2

        28 degrees are slipping in extra fees, best to avoid them compared to Citibank Plus or BankWest Zero MasterCard. This Coles are is good until end of December, at least get some Flybuys points out of it.

        • Rogerthedodge on 15/06/2016 - 21:12

          Interesting… Does anyone use the Citibank Plus Everyday card? How is it?
          Kind of inclined to try it out as they just launched Samsung Pay with Citibank too.

        • davedave on 15/06/2016 - 21:14
          +1

          I haven't checked recently, but I recall BankWest Zero MasterCard charges an additional foreign currency conversion fee

        • sween64 on 15/06/2016 - 21:24
          +1

          @roger1505:
          Citibank is pretty good. I used it last August in New Zealand. The app/website isn't the best but it is serviceable.

        • dazweeja on 15/06/2016 - 21:38
          +1

          @davedave:

          It's the Bankwest Zero platinum that doesn't. Also complimentary travel insurance and no annual fee.

        • sareth on 15/06/2016 - 22:02
          +1

          @roger1505:

          I got it since I'm traveling soon, but it's actually great here as well since you get 5% cashback and 3.4% interest on the associated savings account for 4 months.

        • bloomer on 15/06/2016 - 22:37
          +1

          The love of the Citibank Plus is misplaced (no disrespect to you) - on the face of it it's great cos of the lack of ATM fees, but its exchange rates are significantly worse than the 28 degrees card, to the extent that it was actually better to wear the 28 degrees ATM fee (on withdrawals where the fee was $4 or more) on a trip to Singapore, Indonesia and Japan in a side-by-side comparison.

        • Peck on 16/06/2016 - 09:39
          +1

          @bloomer: I useATM Citibank Plus in Thailand 50-100 times per year and it is ALWAYS BETTER THAN THE BEST RATE available in town. Also the same or .002 cents better than XE rates. Sooo easy!

        • Lukian on 16/06/2016 - 16:39

          @peck: did you directly compare it to the MasterCard rate for BankWest zero or 28degrees though ?

        • bloomer on 16/06/2016 - 17:00
          -1

          @peck: My point was the comparison to the 28 degrees Mastercard, which in side-by-side transactions was, as I clearly said before, significantly better than the Citibank.

        • chill on 17/06/2016 - 19:46

          @bloomer: I think you are doing it wrong bloomer

        • UncommonName on 17/06/2016 - 21:00

          @chill: He is a late bloomer.

        • flux on 23/06/2016 - 09:59

          @bargainaus:

          Of course you get the same rate between BW and 28deg,they are both Mastercard so same rate. For citi being visa you'll get whoever has a slightly better rate on the day, there's no way to argue that visas rates are going to be always better than Mastercards.

      • NachoPie on 15/06/2016 - 22:40
        +1

        Do different card providers exchange money at the same rates? Do they all follow the same international market values?

        (i currently have a com bank travel card)

        • Dacs on 16/06/2016 - 08:04
          +1

          No.
          Citibank rates include a fee of about 2% above the midmarket rate (though they don't call it a fee).
          Mastercard's rates are only about 0.5% above the midmarket rate.

        • ilikeradiohead on 16/06/2016 - 10:24

          @Dacs: Where did you get this info from? So if the AUD/USD rate was $1.3/1, to buy $US it would be $1.326 with Citi and 1.3065 with MC?

        • davedave on 16/06/2016 - 12:07

          @Dacs: Where is this documented?

        • Dacs on 16/06/2016 - 16:45

          @ilikeradiohead:
          @davedave:
          I think these are the rates Citibank uses: www.citibank.com.au/aus/investments/forex-rates/AUD.htm
          Total spread between buy and sell is about 4% in total (so either way you convert you'll lose 2%).

          Mastercard rates are from link given by @bargainaus above: www.mastercard.com/global/currencyconversion

          @ilikeradiohead, if those are the correct rates tables then answer to your question is yes, except other way around: USD/AUD.

        • RockyRaccoon on 16/06/2016 - 19:18
          +1

          @Dacs: Sorry but are you "thinking" these are the rates or are they the rates?

          All I have is the experience that I found when travelling. In each case while there was a few hours difference in transactions, the 28 degrees rate on a purchase was very close to the rate I got with withdrawing cash from Citibank.

          In same cases it was marginally higher and other it was lower, which I took was just due to the fluctuations on the currency market.

          This was based on trips to USA, Bali, Vietnam, Singapore and Japan.

          Given experiences others have had here (numerous posts) and at Whirlpool

          From Whirlpool they say this is the visa rate used by Citibank Plus

          https://usa.visa.com/support/consumer/travel-support/exchang…

          Note you have to put 0% as the bank processing fee percentage (as CBP doesnt charge this)

          Whirlpool reference
          https://whirlpool.net.au/wiki/citibank_plus_transaction_acco…

  • RichardL on 15/06/2016 - 19:02
    +1

    Does anyone know if there's an mobile app for the reloadable MasterCard?

  • starionx on 15/06/2016 - 19:04

    Does anyone know what the expiry dates of the cards are? (1,2,3 years etc)

    • dextertheboygenius on 15/06/2016 - 19:48
      -3

      From the FAQ:

      Does my Coles Gift MasterCard or Coles Online MasterCard expire?

      Yes, both cards expire after 12 months. Your Coles Gift MasterCard's expiry is printed on the front on your card and your Coles Online MasterCard's expiry date is shown in the Prepaid Service Centre. When your card expires, you forfeit any unused value and this cannot be refunded.

      • dandandan on 15/06/2016 - 20:03

        It does say you can order a replacement card and they will transfer value to it.

      • alvian on 15/06/2016 - 20:43
        +1

        This deal is for the Coles Reloadable MasterCard. You have quoted the wrong FAQ.

        Here are the relevant sections.

        Does my Coles Reloadable MasterCard expire?

        Yes, your Coles Reloadable MasterCard expires after 2 years. The expiry date is on the front of your card. On the expiry date, your card will be deactivated and you’ll no longer be able to access your balance.

        So make sure that you use all your card’s value before the expiry date or that you go online to the Prepaid Service Centre and request a replacement card to use after the expiry of your existing card.

        What happens to my balance if my Coles Reloadable MasterCard has expired?

        If on the expiry date your balance is $10 or less and you don’t have an additional card, the card closure fee will be applied to your balance. This means no funds will be returned to you

        If you have a balance greater than $10, you can log in to the Prepaid Service Centre and order a replacement card. We’ll transfer the balance of your old card to your replacement card so you can keep using your balance.

        We strongly recommend you either order a replacement card or use up your remaining balance before your expiry date. If you order a replacement card, we’ll transfer your remaining balance to your replacement card so you can keep using your balance.

        • dextertheboygenius on 15/06/2016 - 23:26

          Thanks mate, quoted the wrong FAQ in a hurry. Cheers.

    • lgacb08 on 15/06/2016 - 19:48

      usually 2 years

  • Truthbe on 15/06/2016 - 19:07

    Can this be used to withdraw money overseas?

    • dextertheboygenius on 15/06/2016 - 19:43
      +1

      Yes you will be able to, but local ATM fees will apply.

      • aerona on 15/06/2016 - 20:22
        -1

        Local atm? So if were to use this Japan, I can pay via credit card at shops/restaurants but will be charged at atms??

        • illumination on 15/06/2016 - 20:23
          +6

          The question asked was whether the card can be used to withdraw money overseas.

        • callum9999 on 15/06/2016 - 20:54

          That purely depends on whether the ATM charges a fee or not. In my experience they don't but will tell you before you withdraw if there is.

        • aerona on 16/06/2016 - 00:47

          @illumination:

          I was referring to japan atms, sorry for my ignorance but does this mean all eptos transactions overseas are free?

      • illumination on 15/06/2016 - 21:00

        Actually, this would probably be in addition to any fees that Coles pass on with overseas withdrawals when using this card (if any)

      • tuvz on 15/06/2016 - 21:07

        Will you get the mastercard exchange rate on the currency conversion like a transaction and just have to pay what ever that atm charges for a withdrawal?

        • spiffycashew on 15/06/2016 - 22:25

          I'd also like to know this. Can anyone confirm?

    • brongz on 16/06/2016 - 01:32

      went to malaysia last year but can't take the money out. do we have to call first letting them know card will be used overseas?

      • UncommonName on 16/06/2016 - 03:30

        You have to let them know you are going overseas.

  • illumination on 15/06/2016 - 19:08
    +11

    Nice, pretty good deal!

    AFAIK this makes this the only fee free way to make international transactions and earn points. Not bad.

    The only other ways to earn points without being "penalised" for making an international transaction are:

    • Coles Mastercard ($89 annual fee)
    • Bankwest More Platinum Card (~$150 annual fee)
    • Bankwest Qantas Platinum Card (~$150 annual fee) - this is the only way to earn Qantas points without being penalised

    Now there's this! Although I guess we can say there's a $10 "annual fee" for the card fee

    • ballistykx on 15/06/2016 - 19:16

      Thanks for the research, been looking for a way to get points for spending overseas, without fees!

      • illumination on 15/06/2016 - 19:52

        No problem. Just had a look btw and the annual fees are:

        Bankwest More Platinum: $130
        Bankwest Qantas Platinum: $160

        Only the Platinum version of the cards have international transactions without an additional surcharge

    • dextertheboygenius on 15/06/2016 - 19:42
      +2

      I got it for free from this deal https://www.ozbargain.com.au/node/237806. Hope they bring it back.

      • illumination on 15/06/2016 - 19:51

        Dexter, you genius!
        Yea I got that too. Too bad it's no longer available otherwise this deal would be worth 1.5 positive votes!

        • dextertheboygenius on 15/06/2016 - 19:54
          +1

          Thanks, you illuminated my mind! :D

          There's still a bit of time left, hope they bring it back.

    • JetBombat on 15/06/2016 - 19:55
      +2

      $10 for a half year as it is already June

    • neonlight on 16/06/2016 - 07:59

      I got the Coles Mastercard with $89 annual fee. I guess I will use that for most overseas payments that accepts Paypal.

      However I still need a card like 28degrees to give out eg. Aliexpress that doesn't take anything else.

      If the online centre works, then I will pay via that else just gonna cancel it

  • nightelves on 15/06/2016 - 19:13
    +5

    Yeah but the flypoints are pretty worthless imo

    • illumination on 15/06/2016 - 19:48
      +1

      Yea I think even on a 1 to 1 basis a single FlyBuys point is generally considered less valuable than QFF or VFF, but any points in "small" numbers are pretty rubbish.

      Say for example 2000 points, which assuming a card earn rate of 1:1 "costs" $2000 to accrue (ignore any bonus points offers from any credit card, or any redemption promotions from Qantas or Virgin):

      • 2000 Qantas Points: Quarter of a SYD-MEL, excluding taxes of ~$32, or ~47.28% of a $25 WISH eGC or ~$11.82 in value
      • 2000 Velocity Points: Tad more than a quarter of a SYD-MEL, excluding taxes of ~$21 or ~44.4% of a $20 Coles Gift card or ~$8.88 in value (BP gift cards give greater value)
      • 2000 FlyBuys? Whilst also rubbish, actually do allow you to redeem $10 off at Coles, or a $20 Mix Apparel voucher
        It also translates to 800 Etihad Guest points.
      • SydOzber on 15/06/2016 - 20:04
        +1

        I thought 1500 Qantas points equals $10 in value
        https://www.qantaspoints.com/use-points/auto-rewards

        • illumination on 15/06/2016 - 20:14

          Ah you're right. I thought they got rid of that, I was trying to find it the other day and couldn't find it so I thought it got removed.

          That makes 2000 Qantas Points pretty good then! Can't edit my comment anymore as you've replied.

          • 2000 Qantas Points: Quarter of a SYD-MEL, excluding taxes of ~$32, or ~266.6% of a $5 WISH eGC or ~$13.3 in value

          The consistency here is to value it to the cheapest way to obtain a gift card, and according to that page, 750 points is enough to get you a $5 gift card.

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