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Bendigo Bank - Ready Credit Card - $0 Annual Fee, 0% International Fee, Travel Insurance

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Bendigo Bank - Ready Credit Card - $0 Annual Fee, 0% International Fee, Travel Insurance
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E5TOQUE on 06/12/2023 - 16:40 bendigobank.com.au (12204 clicks)
Last edited 10/07/2024 - 22:35

Bendigo Bank Ready Credit Card

This is a repost from the original deal here:
https://www.ozbargain.com.au/node/742184/

Remember OzBargain has their Wiki here for all cards similar to Bendigo Bank's Ready Credit Card.
https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…

This card could be good for people looking to go on overseas holidays over the xmas/ new year period and beyond.
It has some advantages other cards don't have like a lower minimum credit limit, joint accounts and travel insurance.

Joint Accounts Available

Bendigo Bank support joint credit card holders.
Joint account means the credit facility is opened under two peoples names. Not many banks offer this on credit cards.
https://www.finder.com.au/joint-account-credit-cards

BSB/Account Number linked to the card

Which enables you to send fast payments directly onto the card. No need to send money in via BPAY.
Not all banks support sending fast payments via BSB/Account No, so you will need to check with your respective bank.

Other features

  • Uses the Mastercard Exchange Rate (https://www.mastercard.us/en-us/personal/get-support/convert…)
  • 0% International Fee
  • $0 Yearly Fee
  • Joint accounts available (you apparently need to go into a branch to set this up)
  • $0 Additional Card Holder Fee
  • 90 Days Travel Insurance (inc cancellation cover)
  • Extended Warranty on purchases
  • Purchase Protection on purchases
  • $3000 minimum credit limit

Bendigo Bank is also considered an 'ethical bank' with no investments in fossil fuel's according to Market Force:
https://www.marketforces.org.au/info/compare-bank-table/

Enjoy.

Financial Credit Card Insurance MasterCard Travel Insurance

Related Stores

Bendigo Bank
Bendigo Bank
MasterCard AU
MasterCard AU
Marketplace

Comments

          • JohnSy on 06/12/2023 - 19:41
            +2

            @Doesnotcompute: The rebates were for all ATM fees. It basically meant you could withdraw $20 in foreign currency whilst overseas and not have to factor in a $10 ATM fee etc.

          • bigbadboogieman on 06/12/2023 - 21:25
            +1

            @Doesnotcompute: ING doesn't have ATMs in AU or US. These were from all non-ING ATMs (local and international). They still do local ATM rebates if you meet their eligibility criteria each month.

            • pick on 04/06/2025 - 17:10

              @bigbadboogieman: The website still says 5 international ATM withdraw rebates if you meet the criteria, am I missing something?

              https://www.ing.com.au/rates-and-fees/orange-everyday-fees.h…

              • bigbadboogieman on 04/06/2025 - 17:26

                @pick: Yeah, previously they used to reimburse foreign ATM operator fee too. So when withdrawing the foreign bank applies an ATM fee and your bank also applies a Foreign ATM Transaction fee. ING was reimbursing both previously but they stopped reimbursing the foreign bank's charge a few months back.

                • pick on 04/06/2025 - 21:56

                  @bigbadboogieman: Didn't know that. I was in Japan a couple weeks ago and ING reimbursed the $5 international ATM fee each time I withdrew, which was the only fee. Perhaps I got lucky?

                  • bigbadboogieman on 04/06/2025 - 22:25

                    @pick: Foreign ATM operator's fee is clubbed together in the main withdrawal transaction amount and shows on the paper receipt / ATM screen separately. Back in 2023 I used it in the US and got 2 ATM rebates for each withdrawal ($5 ING's fee and $4.XX foreign ATM rebate depending on conversion rate).

                  • YesPleaseThankYou on 05/06/2025 - 07:08

                    @pick:

                    Didn't know that. I was in Japan a couple weeks ago and ING reimbursed the $5 international ATM fee each time I withdrew, which was the only fee. Perhaps I got lucky?

                    I'm sorry to be the one to tell you that you are not 'lucky', just oblivious to reality.

                    ING is refunding its own fee to give you the impression that you are getting some value from the account. Many other accounts do not charge this fee at all, obviating the need to adopt ING's arguably deceptive practice.

                    As others have pointed out, ING no longer rebates international ATM operator fees.

                    Many moved on from ING long ago.

                    • pick on 05/06/2025 - 07:44

                      @YesPleaseThankYou: Thanks, didn't know. Shall be looking into other options like Ubank and Up.

                      • timhn on 05/06/2025 - 10:33

                        @pick: Macquarie bank is slightly better

                        • oldrocker on 05/06/2025 - 10:37

                          @timhn: Macquarie Visa Platinum has $149 annual fee

                          • timhn on 05/06/2025 - 10:45

                            @oldrocker: I believe we’re talking about withdraw cash from debit accounts here. No annual fee .

      • twiz911 on 06/12/2023 - 19:53
        -1

        We've been converted to NAB Classic Banking accounts which have no such perks :(

        • StingyGeek on 06/12/2023 - 20:22
          +6

          The NAB card that is being issued specifically to replace existing Citibank Plus cards, still has zero account fee, zero forex fee, and zero foreign ATM fees. This differs from anyone applying for a new 'regular' NAB Classic Banking account.

          • aidenh37 on 07/12/2023 - 12:24

            @StingyGeek: And for new customers the Platinum debit card exists.

          • Fexofenadine on 07/12/2023 - 14:07

            @StingyGeek: Thank you. I couldn't find any confirmation that the rate is still the base rate (I guess Visa's instead of Mastercard's?), has anyone been able to find this or ask NAB?

          • tangobox on 10/12/2023 - 17:25

            @StingyGeek: To clarify, do you mean 'zero foreign ATM fees' like ING used to do, where they'd actually cover any ATM operator charges?

      • 1bargain on 06/12/2023 - 21:20

        From what I read with the new Nab Classic Account I think they might maintain the same benefits as the Citi Plus. I’ve only joined Citi in May for travel in September so when looking at the 2 accounts, they both seem similar (no fees, no international fees…)
        Has anyone looked into the details of the transfer? I feel like it’s being grandfathered but the info is not very easy to find regarding the international fees.

      • marko62 on 07/12/2023 - 05:30

        I have just recently closed my Citibank account due to the fact they kept refusing to authorise transactions. I even rang them before I went on a cruise and they still didn't authorise the holding deposit for the ship.

      • Jared17 on 07/12/2023 - 09:45

        I have been notified my Citibank transaction and savings accounts will be moved to nab by Feb next year. New nab accounts already set up and waiting.

        Looks like confirmed my Citibank card won't be working at that time. Shame as I found it very useful when I was overseas

    • twistedbow on 06/12/2023 - 18:12
      +2

      I recently came back from 3 week trip to US (LA and Vegas) and I say safest way to spend that much money is with credit card. Only time I really had to use cash was gambling and tipping at buffet. You can tip using your credit card at restaurants so cash is not needed. However, do take some cash for emergency just in case you go somewhere that do not accept credit card. As for getting USD, you can purchase via fx exchange in oz before you leave (auspost has bad fx rate) or just take a debit card with no fx fee and international atm fee (you may be charged atm fee by US banks) and take money out there.

    • Gavman on 06/12/2023 - 18:45
      +2

      Too bad Citi bank Debit card wound up… that card would been perfect.. you can use it overseas, even withdraw ur own cash for free from citibank ATMs in USA.. no fees, no conversion fees but NAB bought them and are in process of closing those accounts

      • punkel on 05/06/2024 - 16:30
        +1

        The benefits were transferred over to NAB - same as CitiBank

    • Dealsguri on 06/12/2023 - 18:46
      +4

      If you are looking for debit card, try Ubank (Owned by Nab). No transaction fee and overseas ATM fee
      if you are looking for credit card, try Bankwest Zero platinum card. No Annual or foreign transaction fee + free insurance + all mastercard platinum benifits
      Credit cards are always safe because if you loose your card overseas or someone use your card, you can just dispute.

      • Gavman on 06/12/2023 - 18:52

        Do Ubank change currency conversion fee? Or do they convert at a commissioned rate?

        • Dealsguri on 06/12/2023 - 18:53
          +1

          No, they charge spot rate by visa.

      • bobz79 on 06/06/2024 - 01:50
        +1

        From 3 September 2024, we'll be removing the complimentary overseas travel insurance as well as other insurances cover from Bankwest Zero Platinum credit cards!
        https://www.bankwest.com.au/help/cards/credit-card-changes

        • sav11 on 07/06/2024 - 17:09
          +1

          Damn, that's disastrous. It was the last card I had that still had travel insurance. Might have to actually buy insurance for the next trip!

    • StingyGeek on 06/12/2023 - 20:13
      +8

      I am going to the US this month. I have been trying to find out which ATM's are the best ones to use regarding fees, to draw cash, but have been unable to find info online.
      I am taking:
      1) Ubank visa debt (Good for shopping at Costco USA as they do not take MC!)
      2) Up debit Card (MC)
      3) Macquarie debit (MC)
      4) Citibank debit (MC) ( the one you can not get anymore and stops working on 24 Feb 2024)
      5) and hopefully, the NAB card being issued to replace the Citi card (if it arrives in time.)
      My plan is to see which one is the best one for drawing cash.
      ALL of these cards have Zero annual fee, zero forex fee, zero foreign ATM fees, and use the MC or Visa exchange rate.
      The only unknown fee is what the ATM operator may charge to use their ATMs. This is what I want to find out.
      I promise to report back to the Ozbargain community on my findings.

      Other than that, I have the Combank Ultimate Credit card as my primary CC and the 28º card as a backup. (both MC, both zero forex fee, both MC exchange rate)

      Not directly related to your question whatsavage, when you travel get yourself an eSim for your phone. Cheaper and/or easier than other options such as Roaming or using a local sim. (I use Airalo) There is plenty of info on Ozbargain about this.

      • The king on 07/12/2023 - 14:25

        @StingyGeek I have maple leaf lounges for sale to use US and domestic, let me know if you’re interested. TIA

  • KaitoKid1412 on 06/12/2023 - 16:55

    Is the exchange rate for this card just the MasterCard rate, or does Bendigo Bank apply an extra margin?

    • E5TOQUE on 06/12/2023 - 16:57
      +1

      From comments I've seen online Bendigo Bank use the Mastercard rate you see here:
      https://www.mastercard.us/en-us/personal/get-support/convert…

      I can personally confirm that UP Bank also uses the mastercard rate (I've personally cross checked that one)

      • pizzaguy on 06/12/2023 - 17:02

        With 0% International Fee (as opposed to eg. CommBank having 3% fee), that would make it absolutely comparable with Revolut. For the most popular currencies at least.

      • KaitoKid1412 on 06/12/2023 - 17:15

        Thanks for the reply!

    • Gavman on 06/12/2023 - 18:46
      -1

      You find all banks will pass on some sort of currency / margin for exchange rates. No one will give you pure Spot Rate.

  • askvictor on 06/12/2023 - 16:59
    +4

    This also has rental vehicle excess insurance even if you're not interstate (a lot of credit cards rental insurance only applies interstate/overseas). For zero fees this alone makes it pretty useful.

    • N B on 06/12/2023 - 20:15

      Which credit card would be best if you are going to rent vehicle overseas considering no annual fee & no international transaction fee and also has better rental vehicle related insurance cover?

      • askvictor on 06/12/2023 - 22:42

        No idea sorry

  • TaurusHead on 06/12/2023 - 17:03

    0% International Fee

    this means if I use the card in different country or online transaction for Non-AUD currency then there won't be any currency exchange fee?

    • rlf on 06/12/2023 - 17:08
      -5

      Yes but they still will use their own FX rates which are often juiced compared to current market rates.

      • jeefbeef on 06/12/2023 - 17:23
        +2

        This is just not true - if Bendigo uses the official Mastercard rates (like Bankwest and 28 Degrees) then they are essentially the best rates you can get on purchases in foreign currency.

        Certainly way better than the rates used for cash conversions or travel money options.

          • toomuchdogfur on 06/12/2023 - 18:55
            +4

            @1st-Amendment: The CBA Travel Money card uses their own exchange rate table, which is noticeably worse than other options like cards using the MasterCard exchange rate or the Wise debit account (which allows currency preloading like TMC does).

            For example as of right now, the TMC load rate for USD is $USD0.6318 per $AUD1, so loading $USD1,000 will cost $AUD1,582.78.

            For the same amount, Wise converts at the spot rate of $US0.6591 + $AUD7.28 fee = $AUD1,524.50. That is $58.28 or 3.7% less than TMC!

          • jeefbeef on 06/12/2023 - 22:33
            +1

            @1st-Amendment: Please provide an example based on your experience which gives a better exchange rate at the current spot rate.

            The second point isn't even relevant - I'm surprised you didn't just say you exchanged the cash in 2010 when AUD / USD was parity, and "where can I get that rate now?".

            You said any place that offers "no-fee" will have crap rates, which is clearly not true for the Mastercard rate. If you had used the Mastercard rate the last time to the US, you would've gotten a better result than travel money. You can then decide to get some additional USD via travel money if you were "anticipating a drop".

            Of course if you time the market you can always try to get a better rate, but the flipside is you can get a worse rate too.

            • 1st-Amendment on 07/12/2023 - 08:13
              -3

              @jeefbeef:

              Please provide an example based on your experience

              I did exactly that above, can you read?

              which gives a better exchange rate at the current spot rate.

              I specifically said that the advantage of travel money is that you have the choice of WHEN you buy into a rate, but you chose to ignore that…

      • E5TOQUE on 06/12/2023 - 17:29
        +1

        They use the Mastercard exchange rate.
        It’s very close to the actual exchange rate.

    • Asti on 05/06/2024 - 18:53

      There are no exchange fees, but the other thing to consider is the buy sell spread.

  • JohnHowardsEyebrows on 06/12/2023 - 17:10

    How do people fare with approvals for Bendigo credit products? I've had zero success with them and their subsidiairies (Tic Toc), and suspect being a credit card churner is the reason.

    • Brick50 on 06/12/2023 - 18:01
      +1

      Bankwest Zero Platinum offer the same thing, and I found they were great at approvals. Got called up next morning after applying for a couple questions from the local call centre and got approved a few mins after

      • evgpek on 06/12/2023 - 19:20

        Min 6k limit though

      • onlybargains on 07/12/2023 - 06:54
        +1

        I haven't read the PDS yet, but Bankwest reduced their level of complimentary insurance a while back.

        So Bendigo may have an edge on them here

        • onlybargains on 07/12/2023 - 07:05

          OK, I have read (skimmed through) the PDS and it looks like for my needs Bendigo's insurance is much better than Bankwest.

      • souths123 on 05/06/2024 - 19:51

        only trouble with them now is they are stopping the travel insurance after 1st week Sept

    • dbnewman89 on 05/06/2024 - 18:01
      +2

      Myself and 4 friends have applied, 3 were approved. We all applied with 5/6k limits with excellent credit ratings (1 enquiry in 12m, stable positions, stable incomes, minimal liabilities).

      45k salary casual - no other lines of credit Denied
      55k salary FT perm - one other 5k card Denied
      65k salary FT perm - no other lines of credit Approved
      80k salary FT perm - no other lines of credit Approved
      125k salary FT perm - one other 6k card Approved

      • timhn on 06/06/2024 - 14:41

        I see myself out. Got 4 cards under my bell right now.

  • lawyerz on 06/12/2023 - 17:29

    Would you replace 28 degrees with this card as the default international credit card?

    • E5TOQUE on 06/12/2023 - 17:31
      +1

      Depends which 28 degree card you have. If you have the card from years and years ago with that price protection insurance, I doubt you would give it up.

      For anyone else, this seems to be the better card.

      • lawyerz on 06/12/2023 - 17:55

        oo. it was rejected - "did not meet credit guidelines". waiting to churn a few cc so holding more credit cards than usual. might try again at some later time to replace my 28 degrees.

  • triggerr on 06/12/2023 - 17:33
    +1

    Can anyone comment on the application process please?

    • st1ng on 06/12/2023 - 22:59

      Pretty straight forward when I applied two months ago. Only issue I had was my application was too long, so wasn't able to log in. A quick call sorted out that issue.

  • Appox7 on 06/12/2023 - 17:36

    so this or wise?

  • SuperCyp on 06/12/2023 - 17:38

    Okay, I've never had a credit card - I'm looking to travel in May. The travel insurance could be useful for me.

    Is this essentially a no cost card? In that if the balance is at $0.00 you don't have any fees at all? Is there anything I should be aware of when owning a credit card?*

    Edit: *besides paying off the balance before accruing interest.

    • Brick50 on 06/12/2023 - 18:00
      +5

      Yes there is no cost as long as you pay off your balance at the end of each statement period. Nothing you need to be aware of except for the fact it is easier to buy something with a credit card as you don't have to think about whether you have the money in your acct or have to transfer money across etc.

      If you aren't financially mature/sensible you can definitely end up spending more than you would have before having the CC

      • SuperCyp on 06/12/2023 - 18:05

        Awesome, thanks for that! I wasn't sure if there were other monthly fees or rates that aren't clearly listed.

  • Duckie2hh on 06/12/2023 - 17:41

    What do people use for withdrawing cash from foreign ATMs?

    • Poor Ass on 06/12/2023 - 17:43
      -3

      you don't

      • lawyerz on 06/12/2023 - 17:56
        +3

        You definitely do.

        • Poor Ass on 06/12/2023 - 17:57

          well try to avoid it

          • lawyerz on 06/12/2023 - 17:58
            +3

            @Poor Ass: It's my primary method to get cash if you're at a destination that needs cash, beats money changer every time.

            • Poor Ass on 06/12/2023 - 18:01
              -2

              @lawyerz: negative

              if you know a reputable money exchange at the country it usually has better rates

              but if you use your card it's no fuss no fake money and more convenient

              I guess what I mean is there is no one method that wins everytime

              • Naigrabzo on 07/12/2023 - 09:47

                @Poor Ass: Hmm. This is all good and well but how in the world would you know a reputable money exchange when travelling? Trustpilot reviews??

                • Poor Ass on 07/12/2023 - 10:47

                  @Naigrabzo: can be hard but those that get a lot of positive mentions wouldn't be too bad

                  but if you were in a dodgy country I'll try to avoid

                  • Naigrabzo on 07/12/2023 - 11:44

                    @Poor Ass: yeah this is my problem. If I am in dodgy country I can't trust neither ATMs nor money exchange… HAHA.

                    • Poor Ass on 07/12/2023 - 11:47

                      @Naigrabzo: lol maybe walk into a reputable bank that looks legit haha

                      or take cash over and get robbed by corrupt customs / cops

                      • Naigrabzo on 07/12/2023 - 11:48

                        @Poor Ass: I know right. Corrupt customs are so scary. Had one in Cambodia who wanted USD and kept me in the queue for a long time for no reason.

                        • Poor Ass on 07/12/2023 - 11:52

                          @Naigrabzo: ya that's where all the murderers go to hide

                          what was the going rate USD for customs now?

                          • Naigrabzo on 07/12/2023 - 12:29

                            @Poor Ass: So he wanted me to pay and put it in the passport and hand it to him.

                            Honestly I only had 5 bux in my wallet (Ozbargainers should only have velcro wallets). So I gave him that. He wanted more but I didn't have. He eventually let me go.

                            He was very surrepticious though.

                            I think I was very naive throughout the whole situation. I was a bit shaken afterwards.

                            • Poor Ass on 07/12/2023 - 13:35

                              @Naigrabzo: Just makes us feel how good we got it here

                              • Naigrabzo on 07/12/2023 - 14:27

                                @Poor Ass: AGREE! Every time I return home, I am so F#$%^ happy.

                                Some of my travels are just to illustrate to kids (and my self) how good we have it here.

    • PiperDan on 06/12/2023 - 17:46
      +2

      UP card. Signed up, card in my apple wallet and transferred money across in less than 10 minutes.
      https://up.com.au/features/cards/

      • Naigrabzo on 07/12/2023 - 11:46

        what's UP card? ;)

    • ozchobie on 06/12/2023 - 17:50

      ING or ubank.

    • lawyerz on 06/12/2023 - 17:56
      +1

      ING, Up card, Ubank, Citibank - in that order

      • Gavman on 06/12/2023 - 18:51
        +1

        Ubank:
        Using your card overseas or online
        Card purchases and ATM cash withdrawals

        Free
        Some ATM operators may charge a fee

        1) Do they charge fee for currency conversion or just convert at commissioned rate?
        2) Would this mean main/local banks are the free ATMs and just third-party ATM charge fee?

        • lawyerz on 06/12/2023 - 19:50

          1) they just convert at whatever the current rate is - whenever I checked, its better than money changers and far more convenient.
          2) depends on the bank - some banks charge an ATM fee for any other card other than their own card, just like Australia did not too long ago. Some don't.

          ING - if you meet their increasingly annoying requirement the month prior, gives you 5 fee-free ATM withdrawal, they rebate you any 3rd party atm fees.

      • d351 on 07/12/2023 - 13:23

        Curious to know why you have left the Macquarie Bank Platinum Debit card out? I thought that was a good option as well? $0 FX fees, $0 ATM Fees, including International (albeit Operator fees are not covered, same for ING) ?

    • twistedbow on 06/12/2023 - 18:14

      depends on the country. Check the fx rate at local fx changes and mastercard/visa fx rate.

    • antirealist on 07/12/2023 - 11:13
      +2

      It's a little complicated. Lots of cards (see those recommended elsewhere in the comments) are pretty good, e.g. UP, Wise, Maquarie (what I use), all have small pros and cons, all have no foreign ATM fees (as charged by the card itself) and use the visa/mastercard rate (as good as you'll get).

      Some ATMs in some countries will charge an additional fee, which is hard to avoid (I think some cards e.g. 28 degrees might offer to reimburse for these fees but IDK I've never tried). The last places I travelled are Indonesia (no fees for any of the ATMs I used) the US (no fees), Mexico (no fees), and the Phillipines (every ATM charged a flat fee so the play was to find the ATMs with the biggest withdrawal limit). All of that comes down to the bank you withdraw from so it's subject to change.

      I strongly disagree with the commenter recomending money changers. Maybe there are some countries where this is true but in general they charge a much worse spread than mastercard/visa.

      • StingyGeek on 08/12/2023 - 15:37

        You mentioned you use the Maquarie card. I have recently got one and plan to use it in the US to draw cash. Can you tell me which US ATMs had no fee?

        • antirealist on 11/12/2023 - 09:28

          Hi stingygeek. So I tried to look into it, and am now worried that I might have misremembered the US experience. In retrospect I believe there were fees (something like a few dollars), but I was able to withdraw large amounts (e.g. 1K US) which made the fee a small percentage.

          In terms of what ATMs to focus on in general, I previously had a citi card and found this resource very handy. I'm not sure whether other cards (e.g. Maquarie) are exactly the same in terms of ATM fees as citi was but it wouldn't surprise me if ATMs had a consistent 'foreign card fee' which is the same for every card, in which case this info might actually generalise decently. https://whirlpool.net.au/wiki/citibank_plus_transaction_acco…

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