I just received this email from UBank today in regards to their USaver Ultra transaction account, this is now matching the Citibank Plus transaction account I normally use for overseas ATM withdrawals:
Starting today we’ll no longer charge you a $4 withdrawal fee at ATMs overseas, or the 2% Foreign Exchange fee for Ultra card withdrawals and purchases. And while we’re talking about overseas transactions, just a reminder to always make sure you press Credit while making a purchase or withdrawing overseas. Great news if you travel or make purchases from overseas.
We’ve also updated the terms and conditions to:
- flag that merchants might charge you a fee when you use your card with them (these fees aren’t charged by us, but we wanted to ensure you knew);
- confirm that the eligibility criteria for your account (eg, having Australian mobile number) need to be met at all times while you hold your account;
- clarify how we treat information about joint accounts; and
- tidy up some information that was out of date.
When do these changes take effect?
- The new USaver Ultra terms and conditions, which incorporate these changes, apply to your account straight away.