Best Debit and Credit Cards - Exchange Rates

[Renato1]

Main point being that a 5% unfavourable change in spot doesn't change the equation as you indicated. Anyone weighing up the merits of both types of card need to be aware that it costs one 4% to 5% up front to load money into Qantas Cash Card. Any FX movement comes afterwards.

If one is chasing points, they are very expensive points.

Main point being that I said "more than 5%".
Regards,
Renato

 

[Renato1]

So I've applied today for citibsnk. So you don't preload different currencies to citibank correct? You just use it exactly like am Australian debit card which you can take overseas and charges are great by the looks thanks for everyone's discussion, I've learned a lot.

They give you your own bank account number - so you just send Australian money to your BSB and Account number with them. This means it gets there at least a day quicker than by using Bpay to send them money. They send you three pieces of mail to get you going - the card, the pin, and your new bank account details, together with a form to fill out and send back declaring your nationality, else the card will be cancelled in a few months.

As with any other bank's card you intend to use, make sure you ring them before leaving and let them know when and where you are going overseas.
Regards,
Renato

 

[xt_20]

The other odd thing on that trip to Hong Kong (it may have changed by now) was that for a while I was getting desperate, as ATM after ATM kept rejecting my cards. Six or seven ATMs later, we finally we came across a HSBC ATM which gave me some badly needed cash.

I was there in HK earlier this year, and the Citibank ATMs there seemed to reject my card, but all other major banks' ATM worked without any issues. After querying, I was told that there is a problem with HK Citibank ATMs accepting Australian Citibank cards, and was told to use any other bank. There was no fee for any of the banks I used.

 

[scwappy]

I was there in HK earlier this year, and the Citibank ATMs there seemed to reject my card, but all other major banks' ATM worked without any issues. After querying, I was told that there is a problem with HK Citibank ATMs accepting Australian Citibank cards, and was told to use any other bank. There was no fee for any of the banks I used.

I was there also and my card seemed to work fine, around Central and Wan Chai. Biggest issue I had was getting my signature card and Citibank plus mixed up. They look very similar

 

[Tom_]

Amex black through Westpac earning QF points

 

[RooFlyer]

Amex black through Westpac earning QF points

Yes, it does, as do many cards, but what is the FX rate they convert your foreign purchase currency into A$? I suspect its 4 or 5% over spot which makes those points rather expensive.

 

[Swan]

I was there in HK earlier this year, and the Citibank ATMs there seemed to reject my card, but all other major banks' ATM worked without any issues. After querying, I was told that there is a problem with HK Citibank ATMs accepting Australian Citibank cards, and was told to use any other bank. There was no fee for any of the banks I used.

In HK the Citi card PIN is six digits. Therefore to get your card to work in HK just add two 0 on the end of your PIN.

Very frustrating that Citi don't advise their customers of this peculiarity in HK.

 

[Canada]

Thanks - yes that is frustrating.

In HK the Citi card PIN is six digits. Therefore to get your card to work in HK just add two 0 on the end of your PIN.

Very frustrating that Citi don't advise their customers of this peculiarity in HK.