28° Mastercard Cash Advances while overseas [No more free cash advances from 1/1/14]

[Flashback]

BrisMat, you may find that Wizard (GE Money) would be prepared to give you a temporary credit limit increase for your travels. This is not uncommon. (Just don't tell them that you'll only use it for cash advances).

I'm not sure how that would help, given the money you'd be putting on is beyond and above the credit limit available thus the credit limit doesn't matter

 

[Baysider]

But if the monthly cash advance limit is indeed the same figure as the credit limit (as established by previous posts in this thread), an increase in credit limit will allow cash advances up to the full amount deposited onto the card, not just up to the lower credit limit figure.

 

[_kab_]

So close and yet so far (to an answer)...

God on you BrisMat for volunteering as the guinea pig! I am actually o/s before you and I am chickening out and passing the baton to you on this one - good luck!

I'm sticking with my close-to-fee-free (only 2% conversion charge) Westpac savings account for cash rather than risk any problems with Wizard.

 

[kpc]

Brismat,

I am not sure whether Baysider has tested his/her point or not but neither did I, however I made the guide based on someone's experience back about a while ago....

may be you can test this for us !

Originally Posted by bits

I have a Wizard Mastercard with a credit limit of $1250. Last week I put my card $3000 into credit (for the purpose of withdrawing cash from ATMs fee free).

Last Fri 9/3/07 I withdrew $1000 from ATM - no problems.
Then Mon 12/3/07 I withdrew $1000 from ATM - no problems.
Today Wed 14/3/07 I try to withdraw $1000 from ATM - however, problem occurs now as the ATM says insufficient funds (this is not the case as the account is still in credit by $1469).

I call the service centre and they offer the following explanation:
They say that as my credit limit is only $1250 the system will only allow me to withdraw a maximum $1000 from ATMs per statement. Apparently a monthly statement was sent out on 9/3/07, and as I have already withdrawn $1000 this cycle on 12/3/07, I would have to wait until next month to withdraw the remaining cash. However, I am still able to use the credit for purchases.

If the system is set up like that, doesn't it sound a bit stupid?

As my post below (posted earlier in this thread), my belief is that the maximum cash advance you can withdraw in one credit cycle is your credit limit:

The Australian Frequent Flyer Online Community - View Single Post - Wizard Mastercard Cash Advances while overseas

 

[chodo]

I haven't had time to read through all pages of this topic, but just wanted to add my 10 cents worth.

Spent 2.5 months in Thailand recently and used the Wizard Clear Advantage for ATM withdrawals and paying hotels etc.

It worked an absolute treat.

I haven't sat down yet and worked out if I was given a good exchange rate but it surely was better than paying foreign currency fees etc.

Also, I liked the fact that I could pull the equivalent of $20 or $50 AUD at a time from an ATM instead of $1000 to save on fees. Sometimes I would use it to withdraw cash 4 or 5 times a day in small amounts.

Some ATM'as would charge an ATM fee which Wizard would not absorb and I paid. For example, if I withdrew 5000 baht (roughly $215 AUD), the ATM receipt would show an extra 10 baht charge for the ATM usage. Anyhoo, not a big deal when you consider what I saved compared to other overseas trips using my NAB savings card and ANZ Qantas Visa card.

One qualm I had was that it took 2 - 3 days for the money to appear in my Wizard account after depositing it via Bpay. To avoid any charges etc, I would keep an eye on it and always leave 1k - 1.5k of my own money plus the credit limit - which I never ate into. Also, because Thailand is 4 hours behind AEST, if I did a transfer in the afternoon (Thai time), it wouldnt be processed until the following evening, and then would take 2 -3 days from there.

I have some English mates who would travel with NationWide accounts because they didn't charge foreign currency fees and ATM fees etc. Im glad to have finally found the Wizard Clear Advantage card - wish I had got it 10 years ago though!

One last thing, they have a strange ID verification check which I haven't come across before when using major bank credit cards. I sorted it out with them before I left Australia and they put notes on their computer system, but my parents (who were receiving my mail for me), got 2 letters saying I hadn't completed the check and the card might lock me out. Thank goodness this didn't happen.

All in all - a great card and very convenient - almost too convenient, so the cynic in me is expecting it to be stopped or they start charging like a wounded bull.

 

[Wildthingz]

Hi everyone,

Just a word of warning - the Australian ATM reforms coming into effect on the 3rd of March are going to have an effect on this credit card.

For those who use it locally, ATM cash withdrawals will no longer be fee-less as the owner of the ATM you're using can charge you directly for it's usage. I spoke to Wizard customer service and they confirmed this.

Frustrating, as it was often the best way to remove any excess holiday funds from the card after returning from a trip >.< (or to test the cash withdrawal capabilities of the card as some previous posters have).

 

[Flashback]

Frustrating, as it was often the best way to remove any excess holiday funds from the card after returning from a trip >.< (or to test the cash withdrawal capabilities of the card as some previous posters have).

Still, a small price to pay for the savings on offer.

 

[FL360]

The other way to remove excess funds is to spend it as purchases!

I have heard that another way to do a cash advance is via a human teller at a bank, not sure what the charges will be because not many people do it...

I think it depends on your account with your bank....

 

[Wildthingz]

Still, a small price to pay for the savings on offer.

Agreed - the card still represents great value. I just wanted to make people aware as there is no information regarding these changes on their website (at the moment at least).

 

[Wildthingz]

The other way to remove excess funds is to spend it as purchases!

Yeah that's what I'm planning to do! Not quite as convenient but definitely a way around the problem.

 

[Flashback]

Agreed - the card still represents great value. I just wanted to make people aware as there is no information regarding these changes on their website (at the moment at least).

Yep! Thanks :mrgreen:

 

[Nigelinoz]

It will be interesting to see whether the fact that GE has sold a large proportion of the Wizard home loan portfolio to CBA has an effect on the credit card in the long term,after all if CBA ends up with control of the wizard brand name you would hardly think that GE would want to carry on publising a brand associated with a competitor,so maybe they will move wizard cards into one of it's other ranges,like the source Mastercard or similar.

 

[KateMayo]

Just a word of warning - the Australian ATM reforms coming into effect on the 3rd of March are going to have an effect on this credit card.

For those who use it locally, ATM cash withdrawals will no longer be fee-less as the owner of the ATM you're using can charge you directly for it's usage. I spoke to Wizard customer service and they confirmed this.

My most recent statement (dated 18/2/09) states:

"Use a Westpac ATM with your Wizard Clear Advantage Mastercard and you will not be charged this (ATM direct charging) fee."

 

[Wildthingz]

My most recent statement (dated 18/2/09) states:

"Use a Westpac ATM with your Wizard Clear Advantage Mastercard and you will not be charged this (ATM direct charging) fee."

Ah that's good news - I'll check my next statement too. If that's the case it should be happy cash withdrawing as usual!

 

[Flashback]

BTW, welcome to AFF Wildthingz

 

[Wildthingz]

BTW, welcome to AFF Wildthingz

Cheers Flashware. I've been a long term lurker of these forums so finally decided I should do the right thing and join

I've been following this thread for a while, in fact it helped me make my mind up on the Wizard card. I took the card all throughout Europe during December and January and used it extensively. No troubles whatsoever!

 

[NM]

Cheers Flashware. I've been a long term lurker of these forums so finally decided I should do the right thing and join

I've been following this thread for a while, in fact it helped me make my mind up on the Wizard card. I took the card all throughout Europe during December and January and used it extensively. No troubles whatsoever!

So where is the trip report

oh yes, welcome to AFF

 

[Flashback]

I took the card all throughout Europe during December and January and used it extensively. No troubles whatsoever!

Excellent! I am spending 3.5 weeks in Europe in November and was hoping to do exactly that. Sounds like it should be fine!

 

[Wildthingz]

Ok this is weird - it appears the main wizard website now diverts to a joint Aussie Home Loans / Wizard page.

I can still access the Clear Advantage online banking screen but it appears that the main wizard page is now gone and new registrations have been closed :S

I only checked this morning and the old wizard site was working as normal....

 

[Nigelinoz]

It's definitely only happened since 2.00pm today because I checked the wizard site before I posted my comments about the CBA etc,that was at 1.48pm so it's only been updated in the intervening two hours.