What overseas debit/savings/EFTPOS cards do u recommend with no transaction fees?

Lcinnamon85 on 04/06/2012 - 07:27

Which debit, savings or eftpos cards do you recommend for travelling overseas? We previously had a NAB visa gold debit card but they have introduced ridiculous fees as of august this year so we are looking for an alternative. we mostly need a card just for withdrawing cash at ATM's overseas that have minimum or no fees attached. I have heard citibank are a good option but they apparently have bad customer service? not sure if i want to risk going with them in case we have any trouble and need to call them…? does anyone have any recommendations? What you have used to withdraw money or plan on using while travelling?

Thanks

Travel

Comments

  • ozhunter on 04/06/2012 - 07:34
    +4

    Get the 28 degrees credit card and put money beforehand so you won't pay any interest.

    • FatGPT on 04/06/2012 - 08:51

      That works but there will still be ATM owner charges for withdrawing cash from most ATMs.

      • RohBoat on 04/06/2012 - 10:22
        +2

        I used the 28 degrees card in Honkers and didn't get charged any fees at ATMs. And the conversion rate was EXCELLENT. MasterCard where offering around 7.8 whereas 28 degrees ended up being about 8.2!

        • FatGPT on 04/06/2012 - 10:36

          That's awesome! Was there any way of knowing though when you withdrew cash from the ATM if you would be charged a fee?

        • retiredfeline on 04/06/2012 - 10:39
          +1

          Generally if you go with a bank there are no ATM fees. That is more likely to happen with a small operator.

    • randoom on 05/06/2012 - 08:31

      Any negatives to the 28 degrees? On paper so far it looks somewhat infallible.

      • ozhunter on 05/06/2012 - 13:23

        Main one would be the interest you pay on purchases and cash advances; 20.99% p.a.

        But if you plan to use it like a debit card and just wanting to avoid international transaction fees, it doesn't make a difference.

        • randoom on 07/06/2012 - 08:23

          Win, thanks for the info. That's exactly how I plan to use it.

  • FatGPT on 04/06/2012 - 08:50

    Citibank Plus

  • ferguscan on 04/06/2012 - 09:09

    I'm also curious about cheap ATM fees overseas. 28 degrees and Citibank are cheapest for c/card transactions, but are they cheapest for ATM transactions also?

  • nogoodnamesleftdamn on 04/06/2012 - 13:59
    +1

    I have just come back from a 3 month trip in South America using the Citibank Plus account.

    Setting up the account was by far the hardest part. On-line setup was almost pointless - you do not get a call when your on-line verification has been rejected…so assume it will be rejected and go to a post-office or Citibank branch. Even after going into the bank there was an unnecessary wait. Customer service from the Phillipines is always very friendly, quick-to-answer and "professional-sounding" but is ultimately inefficient as they still have to communicate and wait on local Australian branches for paperwork. I was in a rush so after I was finally approved (after much pleading over the phone) I went into a branch and they pressed a new card for me on the spot in 20 minutes (and I just had to destroy the card that was automatically sent in the mail).

    After telling them I was going overseas I never had any trouble withdrawing money in 6 foreign countries (just need a VISA symbol on the ATM).

    In some countries it is almost impossible to avoid paying a fee. Nearly all banks in Chile and Argentina will charge a fee and a high one at that (just under ~$4 is standard in Argentina and I got charged almost $8 in Pucon, Chile!). There are plenty of fee-free Citibank ATMs in Argentina if you can find them but stupidly they often have non-Citibank ATMs inside their own branches!

    Note that Citibank DOES NOT refund these additional charges, although some other banks might.

    I got an e-mail from Citibank that their on-line banking system is changing (may be sent special codes via mobile) and I don't know if performing on-line transfers while overseas may become harder.

    All-in-all, I highly recommend you grab the card while it's free, at least as a back-up. Overseas it's often really easy to forget your card in a machine (they give you your receipt and money first and THEN ask if you want to perform another transaction). Or they'll automatically return the card after you pull out the money. One ATM once started sucking the card in-and-out when I took too long to put away my money.

    • mrhorseham on 04/06/2012 - 17:50

      I don't quite get what you mean when you say "finally approved"..isn't the Citibank plus just an everyday fee free transaction account? It's not a cc like the 28 degrees, so everyone can get a plus card easy.

    • FatGPT on 04/06/2012 - 17:50

      Thanks for that review - I've got the Citibank Plus for an upcoming RTW trip so it's great to hear that it worked for you. Also thanks for the tip re: non-citibank ATMs in Citibank branches, that does seem odd!

  • cuteduck on 04/06/2012 - 21:01

    may be 100-point identification check list

  • Magnate on 07/06/2012 - 10:17

    Keep in mind that if you load up your 28 degrees card with cash (or any other card for that matter) and then it gets stolen and the cash spent that you have no buyers protection with the card. The buyers protection is for purchases on credit only. Your travel insurance may cover some lost cash, but generally the limit is low.

    When travelling I withdraw cash advances on my 28 degrees card but pay it off regularly (daily). Interest usually only comes to a couple of dollars a month, a small price to pay for the protection it offers.

    Oh, and my card was copied in Brazil and $1000 was withdrawn from a bank…

Login or Join to leave a comment
Login Join