[[cards_with_no_overseas_transaction_fees]]

Cards with No Overseas Transaction Fees

There are very few cards on the market that have no overseas transaction fees. Most charge between 2-3% for any overseas transaction; plus an additional $5-$6 per overseas ATM transaction.

See this CHOICE magazine article on the foreign exchange charges on overseas purchases.

The 28 Degrees (formerly Wizard Clear Advantage) MasterCard used to be easily obtainable and popular for its complete lack of overseas fees, but this changed in 2014. Currently (01/2017), the Citibank Plus Debit card is the only easily obtainable card (i.e. for any income). The most easily obtained credit card would probably be the Coles Rewards Mastercard.

For a more updated and comprehensive resource see the creditcard.com.au table featuring credit cards with no international transaction fees

Citibank Plus Bank Account

The Debit Card linked to the Citibank Plus Account offers no international fees for ATM withdrawals or transactions. The card features:

  • No currency conversion fees with market rates set by MasterCard.
  • No Citibank fees for international ATM withdrawals (an ATM owner fee may apply).
  • No account keeping/monthly fees.
  • Extensive ATMs and branches worldwide.
  • Linked debit card not credit - no credit check required.
  • Free wine at participating restaurants within Australia.
  • In USA many 7/11 have Citibank ATMs in store (at least on West Coast).

Some drawbacks include an average-poor online banking system and a slow registration process (often requiring visiting a branch or Australia post to confirm identity). However, for a fee-free debit card that anyone old enough can apply for, it is a real competitor to the other options.

Note: To link this card to a PayPal account, first ensure that Citibank has linked your Citibank Plus account to the Debit card as the “primary” account. That way you can pay via PayPal with no foreign conversion fee (providing you make the right selections in PayPal during the payment, i.e. select to pay in the foreign currency and don't have PayPal do the conversion).

ID verification form for Citibank - You may be asked to fill this out and take it to AusPost as part of the sign up process

(this card is changing from Visa Debit to Mastercard Debit in March 2017 - terms & conditions may change)

28 Degrees Platinum MasterCard

The 28 Degrees Platinum MasterCard features:

  • No annual fee.
  • No currency conversion fees with market rates set by MasterCard
  • Min $4.00 cash advance (incl ATM) fee (introduced in 2014; the card originally had no cash advance fee).
  • No fees for overseas purchases.
  • A 20.99% rate on purchases AND cash (unlike some other low rate credit cards).
  • 4.99% p.a. interest for six months from account opening on balances transferred.
  • Up to 55 days interest free on purchases (but not cash withdrawals).
  • Payments of balance owed can be made using the “online service centre” (free) or by BPAY (see below)
  • BPAY payment fee of 95c per transfer (free if Direct Debit or Direct Debit via. Online Service Centre) (as of July 2016). You can only put your card in positive balance (to avoid cash advance interest) by using BPAY, which always incurs the 95c fee.
  • Paper statement fee of $2.00 each month (free if via PDF).
  • New applicant only got “Platinum” card option with min. limit: $6000 (was available as normal card before 2014)

Bankwest Zero Platinum MasterCard

The Bankwest Zero Platinum Card does not charge currency conversion fees (uses MasterCard exchange rate for the time of transaction), and provides free travel insurance for cardholders and their dependents as long as a minimum of $500 of the pre-paid travel expenses (e.g. flights, hotel) are paid using the card.

Features:

  • No annual fee.
  • 2.99% p.a. on balance transfers for 9 months.
  • Up to 55 days interest free on purchases#
  • No foreign transaction fees on online and overseas purchases.
  • Free travel insurance, purchase protection and extended warranty.

Bankwest Qantas Platinum Mastercard

The Bankwest Qantas Platinum Card features:

  • No international transaction fees for online and overseas purchases, but overseas ATM withdrawals incur a fee.
  • Collect 0.5 Qantas Frequent Flyer points for every dollar you spend
  • $160 annual fee
  • Interest rate is 20.49% p.a. on purchase and cash advances
  • Up to 44 days interest free on purchases when you pay your full balance off each month

Coles Rewards MasterCard

The Coles Rewards MasterCard features:

  • No international transaction fees for online and overseas purchases, but overseas ATM withdrawals incur a fee.
  • Collect 2 flybuys points for every dollar you spend
  • $89 annual fee
  • Interest rate is 19.99% p.a. on purchase and cash advances
  • Up to 62 days interest free on purchases when you pay your full balance off each month

ANZ Rewards Travel Adventures Visa

The ANZ Rewards Travel Adventures Card features:

  • No overseas transaction fees on purchases
  • No overseas ATM fees (only the VISA card can be used in ATMs)
  • A number of promotional bonuses have been offered since the card's introduction, so it can be worth looking out for those (if they continue to appear).
  • 1 free domestic Virgin Australia return flight every year to specified destinations only (including some long routes, e.g. Melbourne to Perth/Darwin/Cairns) - need to book 60 days in advance
  • 2 free domestic Virgin Australia lounge passes every year
  • 1.5 Reward Points per $1 spent on eligible purchases up to and including $2,000 per statement period then 0.5 Reward Points per $1 spent on eligible purchases above $2,000 per statement period (2 reward points = 1 Velocity FF point)
  • Up to 55 days interest fee
  • $225 Yearly Fee

Macquarie Transaction Account

The debit card linked to the Macquarie Transaction Account features:

  • No overseas transaction fees on purchases.
  • No account keeping/monthly fees.
  • Refund at all Australian ATM's for withdrawals and balance request.
  • Withdraw over $100 and get 50c credited to your account.
  • Apple Pay support.

Commonwealth Bank Platinum and Diamond Rewards Amex Companion Cards

The debit card linked to the Commonwealth Bank Platinum/Diamond Rewards Amex cards features:

  • No overseas transaction fees on purchases overseas (including online)
  • 2.5 or 3 points respectively for each A$ spent overseas (including overseas online merchants)
  • Zero fees per year if you have a home loan package from Commonwealth Bank
  • International travel insurance even when tickets not bought using the card

Westpac Lite Card

The credit card linked to the https://www.westpac.com.au/personal-banking/credit-cards/low-rate-cards/westpac-lite-card/ features:

  • No overseas transaction fees on purchases overseas (including online)
  • Free additional cardholder
  • $9/mth fee ($108/year)