Bank account with low international ATM fee

Discussion in 'Open Discussion' started by auriga, Jan 2, 2007.

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  1. auriga

    auriga Active Member

    Nov 6, 2005
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    Most bank accounts seem to charge about $5 per ATM withdrawal. Does anyone know of any bank accounts which charge less?
     

  2. Mal

    Mal Enthusiast

    Dec 25, 2004
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    I've heard Citibank mentioned before as a good card to have.

    As well as Wizard's Mastercard.

    You could also check out the Earth Plus card which has good deals on International transactions.

    Not entirely sure though. I tend to take traveller's cheques where I can and use Visa/Amex for the rest of my expenses.
     
  3. auriga

    auriga Active Member

    Nov 6, 2005
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  4. straitman

    Moderator

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    auriga,

    Mal was simply pointing out the limits of his knowledge because he uses Travellers Cheques and CC's and not ATM's. :cool:

    The CBA uses a fixed % though I can't remember the amount. ;)
     
  5. Mal

    Mal Enthusiast

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    If you sufficiently "cash up" some credit cards before going overseas, then you can get either very cheap or free transactions.

    Have a look through these threads:

    http://www.frequentflyer.com.au/community/open-discussion/money-overseas-atm-trav-cheques-5652.html
    http://www.frequentflyer.com.au/community/general-credit-card-discussion/cc-best-suited-foreign-5309.html

    Not all credit cards are bad. Some do give you free cash advances overseas - much cheaper than bank accounts.

    While the OP was after "Bank Accounts", this doesn't preclude Credit cards attached to those accounts (or money transferred into those CC's)
     
  6. SeatBackForward

    SeatBackForward Established Member

    Jun 20, 2006
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    CBA have recently changed their charges, its now $5.00 plus about 2.5% of the withdrawn amount. Apparently this has something to do with the way VISA is charging the bank, but sounds like a load of croc to me.
     
  7. danhan

    danhan Newbie

    Dec 20, 2005
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    Depending on where you are planning on travelling, Westpac might be of interest.
    They are part of the 'Global Alliance' which allows customers of member banks to withdraw money from other member banks ATMs without incurring the standard $5 dollar fee.

    More info:
    Westpac Internet -Accessing your accounts overseas

    Daniel
     
  8. Commuter

    Commuter Active Member

    Jun 14, 2006
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    I suggest you try Westpac too. Also I believe HSBC offers the flat-fee-free overseas ATM withdrawals from overseas-based HSBC Group ATMs.
     
  9. dajop

    dajop Senior Member

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    Never easy - even some who have lower per transaction fee may charge higher exchange rate conversion fee. I'm beginning to think no matter what you do you'll be pinged one way or another, regardless of whether using ATM, cash, CC or TC's.
     
  10. auriga

    auriga Active Member

    Nov 6, 2005
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    Looks like there is no easy solution.

    I was aware of Westpac's offering, but the destinations offered are not suitable for my purposes.

    Thanks!!!
     
  11. straitman

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    What about CBA Mastercard :?:
     
  12. SeatBackForward

    SeatBackForward Established Member

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    Nothing to do with it. I was using my CBA keycard that isn't aligned with Visa or Mastercard. But it is part of the Maestro network.

    I guess CBA just choose to use Visa as their foreign exchange agent.
     
  13. stryker

    stryker Member

    Sep 28, 2006
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    I know this isn't what you wanted, but I have an ANZ gold visa card which has no charges for ATM withdrawals OS. Can save you heaps.

    It can also get you fee-free travelers checks which you can get in USD and spend with gay(?) abandon.

    The ANZ gold visa card also has a "free" travel insurance package which works very well. I have made a couple of claims over the years which were paid in full reasonably promptly.
     
  14. auriga

    auriga Active Member

    Nov 6, 2005
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    Probably will consider the wizard mastercard, and pre-load the card so as to avoid interest charges.

    A previous thread mentioned people having problems using it at some overseas ATM, and something about unlocking the card. Any updates?
     
  15. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    If you can manipluate withdrawls into EFTPOS transactions, this can be much cheaper, as many accounts charge less for overseas EFTPOS transactions.
     
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