Citibank Plus - No Fee No Overseas Transaction Fee Account

When people use this card at overseas ATMs and are presented with the option to use that bank's exchange rate (usually something like 'Proceed with conversion'), do you select that or decline ('Proceed without conversion')?

I'm in a dispute with Citibank at the moment over two ATM withdrawals in India. On both transactions at the same ATM I declined the conversion. Citibank is telling me that results in DCC. The image shows part of what Citibank is telling me.

I always decline using the foreign bank's conversion because I always thought that meant you'd stung with a terrible rate, rather than Citibank's rate. I've never had a problem and have always gotten the better Citibank rate.

(A separate issue is the foreign bank didn't disclose a fee for the transaction, never mind the fact the transaction appears on my statement as "PART HYYAT" hotel.)

Proceed without conversion. You want your bank to do the conversion instead. Them doing is what's referred to as DCC and usually sits around 5%.

Don't get me started on Indian ATM's. I was short changed £20 worth of INR. I lodged a complaint with my bank, then visa including all the serial numbers on the INR that was issued, where/when, the ATM number, etc. and got zip, zilch, nada.
 
Proceed without conversion. You want your bank to do the conversion instead. Them doing is what's referred to as DCC and usually sits around 5%.

Don't get me started on Indian ATM's. I was short changed £20 worth of INR. I lodged a complaint with my bank, then visa including all the serial numbers on the INR that was issued, where/when, the ATM number, etc. and got zip, zilch, nada.

I'm glad I'm not the only one with Indian ATM trouble.

I always select proceed without conversion, as I did on this occasion, but Citibank is telling me that's what's caused the DCC. Citibank is telling me I should proceed with conversion to avoid a double exchange. But I've never done that.
 
I'm glad I'm not the only one with Indian ATM trouble.

I always select proceed without conversion, as I did on this occasion, but Citibank is telling me that's what's caused the DCC. Citibank is telling me I should proceed with conversion to avoid a double exchange. But I've never done that.

That's if you can even find a working one........ or one that doesn't have a pop-up on the screen advising the trial software licence period has expired...... :)
 
Just wondering if anyone hasn’t used this card in ATMs in Kathmandu? Just wondering about accessing cash whilst there.
 
Just wondering if anyone hasn’t used this card in ATMs in Kathmandu? Just wondering about accessing cash whilst there.

I'll be there in 2 weeks so will let you know. However, most banks there charge ATM fees.

This is what I've researched so far......
ATM - withdrawal fee (maximum withdrawal 10,000 NPR, some NABIL machines may have 35,000 NPR)
Try use a Visa if it wants to charge for MC
Take INR and GBP to exchange also as backup

No commission
  • Everest Bank
  • Kailash Bikas Bank
  • Nepal Bank Limited
  • Standard Chartered (may cost 500 NPR for Revolut, try Curve or Nationwide instead); closest one in Thamel is near Hot Breads. There's an ATM lounge near OR2K at Pokhara Lakeside.)
  • Civil Bank (in a shop on Paryatan Marg street ?)
 
I'm in a dispute with Citibank at the moment over two ATM withdrawals in India. On both transactions at the same ATM I declined the conversion. Citibank is telling me that results in DCC. The image shows part of what Citibank is telling me.

It woud appear that the dispute is over less than $10. It may be easier to forget about it. The likely hood that the Indian ATM deliberaty scammed you is extrmely low. Its more likely you just pressed the wrong button.

otherwise everyone would be complaining about it. This is not even a Citibank issue, they are just passing on the info Mastercard has forwarded them,

You might be better off reporting this in the "TravelinIndia" forums. if this is a common thing there, then you will get somewhere.
 
It woud appear that the dispute is over less than $10. It may be easier to forget about it. The likely hood that the Indian ATM deliberaty scammed you is extrmely low. Its more likely you just pressed the wrong button.

otherwise everyone would be complaining about it. This is not even a Citibank issue, they are just passing on the info Mastercard has forwarded them,

You might be better off reporting this in the "TravelinIndia" forums. if this is a common thing there, then you will get somewhere.

Between the poor exchange rate that wasn't disclosed and the service fee that wasn't disclosed, I estimated I am out between $14 and $16.

What is the "wrong button" to you? I selected "Continue without conversion", as I've done multiple times at overseas ATMs and received the favourable Citibank exchange rate. The reason for undertaking the second transaction of just INR100 (the minimum amount that could be withdrawn) just a few minutes later was to assure myself that I did indeed press the 'correct' buttons. On that transaction, I took this photo of the ATM screen:
 

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Coles platinum mastercard has no international fees either. Though they might sting us on the exchange rate but no, that was good too.

From memory no annual fee for 1st year, then $99/year. Earn flybuys points which we dump into Velocity.

Citibank "manages" the Coles Mastercard.
 
What is the "wrong button" to you?
I am suggesting you mistakingly pressed the wrong button.

Otherwise if these ATM's are scamming people, then other people would be complaining about, but it wouldnt be here, its not a Frequent Flyer topic. you ought to raise this in a travelling forum where its more likely you will come across people that have used these atms
 
India - Citibank and State Bank of India - (SBI) don't charge a withdrawal fee but at all other banks the fee was 200 Rupees ($4) for the maximum 10,000 withdrawal.
Best rate was 0.2% above the XE spot rate on Citibank card. SBI was 0.4%. The 200 Rupees pushed out the effective rate to about 2.3% for most of the other ATMs
You can churn your card at the same ATM up to YOUR daily withdrawal limit at home
There are ATMs everywhere and Indians are happy to take rupees contrary to the dud advice I received from a friend warning me to take US dollars
 
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Taiwan - no fees at the following ATMs: Union Bank of Taiwan (usually can easily find these at the airport or the train station at the airport, next to the ticketing machines), Far Eastern International Bank, Taiwan CoOperative Bank.
 
I have just signed up for HSBC everyday global Visa linked debit card. It has no annual fees, no ATM fees, no foreign exchange fees, can hold 10 currencies and favourable conversion fees. I will use it around the world in June to August this year and report any difficulties.
 
I have just signed up for HSBC everyday global Visa linked debit card. It has no annual fees, no ATM fees, no foreign exchange fees, can hold 10 currencies and favourable conversion fees. I will use it around the world in June to August this year and report any difficulties.

This is not the same type of card as the Citibank. With Citibank you don't pre-load currencies and the rate you are given is a 'true' conversion rate, using the inter-bank rate (or close enough), not the 'buy and sell' spread that is used for small commercial transactions.

For example, using my Citibank card, USD1000 would cost me approximately AUD1438 at today's rates. If you were to load your HSBC global card with USD1000 today you'd be paying AUD1469. So about $31 difference. My transactions would be subject to any daily fluctuations in the exchange rate, while yours would be 'locked'... but I also don't pay for any currency I don't use (if I end up spending $800 instead of $1000, I'm not out of pocket for later converting the left over $200).

With citibank I don't have to worry about pots of currency becoming exhausted... I just spend in any country to get the same inter-bank rate.

For $1000 to difference might not seem much... but if you are spending $10000 for holidays and other spending it can start to add up.
 
This is not the same type of card as the Citibank. With Citibank you don't pre-load currencies and the rate you are given is a 'true' conversion rate, using the inter-bank rate (or close enough), not the 'buy and sell' spread that is used for small commercial transactions.

For example, using my Citibank card, USD1000 would cost me approximately AUD1438 at today's rates. If you were to load your HSBC global card with USD1000 today you'd be paying AUD1469. So about $31 difference. My transactions would be subject to any daily fluctuations in the exchange rate, while yours would be 'locked'... but I also don't pay for any currency I don't use (if I end up spending $800 instead of $1000, I'm not out of pocket for later converting the left over $200).

With citibank I don't have to worry about pots of currency becoming exhausted... I just spend in any country to get the same inter-bank rate.

For $1000 to difference might not seem much... but if you are spending $10000 for holidays and other spending it can start to add up.

You may be overthinking the issues with the HSBC card methinks. I took the following 3 cards with me on a recent 2 month trip : Citibank plus; The HSBC card; ING Orange Everyday.

On one occasion in Peru and another in Mexico I made identical withdrawals with all three cards only minutes apart at the same ATM and found all to have an exchange rate so close to the XE.com rate that there would have been only a few cents between them. As discussed earlier, the main difference is that ING refund the ATM fees.

On the HSBC card specifically, I simply loaded it with AUD and withdrew from foreign ATM's the same way I would any other card. The Forex side of the card is used only if you feel the need to lock in an exchange rate before you travel. If you have foreign currency left after your trip you can go to a HSBC branch and deposit it directly. Do not that not all branches do this but I'm certain that Glen Waverley in Melbourne does.
 
Fair enough. I was specifically referring to the 'loading of 10 currencies' - which is usually not so good value.
 
I guess the reason you would load currencies is to lock in an exchange rate but I personally do not see myself spending huge amounts in cash when OS but use the debit card, which, with HSBC and others there are zero fees. As for refunding the ATM fees by ING it sounds a little messy. The HSBC name is a world identity and is attached to visa which is also taken almost everywhere. Still, I stand to be taught by those who have more experience than I have. I have travelled to over 60 countries now but have not worried about the pros and cons, however I am getting older and a little more conscious of my money.
 
ING is automatic. You get the rebates within a few days max. There's nothing you need to do on your part except meet the monthly conditions - 5 purchases & $1000 transfer
 

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