Is Citi Plus still the best option for overseas cash?

[twiningb]

Is Citi Plus still the best option for overseas cash? Obviously I haven't done a lot of international travel since 2019.

If I have to open some other account it might be time to get started, since we depart in five weeks.

(I'm set for FX-fee-free purchases, with a US Amex Gold backed with a Coles Rewards Mastercard and a Bundll account which charges to my Dragon Visa.)

 

[Scarlett]

I have the Citi Plus and have used it widely. What I don’t have is a card or similar account for Mrs. Scarlett.

Does anyone have a second card on the one account? Authorised / additional user I think it’s called?
Edit: Additional Cardholder is defined in the product T&Cs, so must be able to get a second card on my account.

 

[auriga]

No, there's no currency conversion fee (see page 24). This is a different product to their transaction account though (that will hit you a conversion fee). This is a separate prepaid card.

Ah... I see
It's the travel money card
Just had a look at the conversion rate
1 AUD to 0.6448 USD
Doesn't seem great

 

[Pete98765432]

Ah... I see
It's the travel money card
Just had a look at the conversion rate
1 AUD to 0.6448 USD
Doesn't seem great

My understanding from this thread and Ozbargain is that you get the not so great exchange rate you quote when you transfer money to a foreign currency held on the card. However, if you only load Australian dollars on the card, then you’ll get the better MasterCard exchange rate when you use the card overseas (either at point of sale or at an ATM).

 

[SeaWolf]

My understanding from this thread and Ozbargain is that you get the not so great exchange rate you quote when you transfer money to a foreign currency held on the card. However, if you only load Australian dollars on the card, then you’ll get the better MasterCard exchange rate when you use the card overseas (either at point of sale or at an ATM).

Yes, that's my understanding as well. There's a table on page 22 that outlines what exchange rate will be used and in what circumstances. The Westpac rate only gets used if you're converting a balance held on the card to a balance held on the card in a different currency. If you only have AUD on the card and then withdraw a different currency at an ATM, it'll use the Mastercard rate.

 

[Pete98765432]

Yes, that's my understanding as well. There's a table on page 22 that outlines what exchange rate will be used and in what circumstances. The Westpac rate only gets used if you're converting a balance held on the card to a balance held on the card in a different currency. If you only have AUD on the card and then withdraw a different currency at an ATM, it'll use the Mastercard rate.

Further to this, if you withdraw cash at a Global ATM partner, there’s no fee (Westpac or ATM operator).

 

[Mattg]

Since ditching my Citibank Plus account I've been using my Bankwest Qantas Transaction account for fee-free overseas ATM withdrawals.

With this card, I've discovered that you need to select "credit" when doing an ATM withdrawal overseas. Annoyingly, today I tried to withdraw $50 from a UOB ATM in Singapore and got an error message when selecting "credit" that "the minimum amount for a cash advance is $200". I then tried selecting Savings or Current Account and neither of those options worked at all.

Am I missing something?

 

[serfty]

Am I missing something?

Things change, from product to product, fro ATM to ATM.

I have learned to have more than one option available - currently ING and CitiPlus both loaded with desperation 28° ...

 

[Mattg]

Yeah, I'm thinking a backup debit card might be a good idea. Not sure yet which one I'll pick, but it won't be ING after their recent change.

 

[RealtimeY]

Macquarie and ubank are pretty good transactional accounts in their own right, and don’t require you to actually use the accounts regularly to get it fee-free


Revolut is like a travel money card with pretty competitive FX rates.


In terms of the minimum withdrawal, it’s up to the ATM operator. It’s not too hard to just try another ATM right next to it to compare the fees or minimums. I’ve done withdrawals as low as AUD 10 equivalent when I’ve needed just an extra bit of cash just before leaving the country. Airport ATMs tend to have quite high minimums and fees.

 

[SYD]

Am I missing something?

Things change, from product to product, fro ATM to ATM.

I have learned to have more than one option available - currently ING and CitiPlus both loaded with desperation 28° ...

Maybe not specific to @Mattg ‘s issue but for a while using my NAB card in ATMs in some countries never worked. Turns out they were looking for a “Cheque” account - which for historical reasons was never setup for my day to day transaction account. I now have a backup NAB account that works. Plus ING and UBank.

Edit: this was mainly in the UK (from memory) or anywhere that didn’t give you account selection option eg “Savings” or “Cheque”.

Specific to SIN, I do recall at least one brand of ATM didn’t work for me at all.

 

[theblank]

Yeah, I'm thinking a backup debit card might be a good idea.

a backup - you mean only one backup?
Thats crazy, you need as many backups as you can get. Its a no brainer, these bank accounts are free, load up, get them all.

I have lost count the number of times a certain card wouldnt work in a certain ATM, sometimes 2 cards fail but a 3rd works. then the odd misplaced wallet, and of course you need one in your sock.

 

[Brissy1]

Further to this, if you withdraw cash at a Global ATM partner, there’s no fee (Westpac or ATM operator).

Great link, I'll likely do a day trip to Tijuana while I'm in CA next month and that link shows plenty of Global ATM there. So I'll bring a Westpac debit as one of the backups and just cop the 3% extra fee.

Don't like cash but might need a few peso for taco if they don't take a card or usd.

 

[coolstepslg]

since ING are stopping the atm opterator refund fee which is the next best card to use to get cash out? Whats the Bundll card exchange rate like ? since you can pay it off using a rewards earning credit card it might be a good option?

 

[SydneySwan]

since ING are stopping the atm opterator refund fee which is the next best card to use to get cash out? Whats the Bundll card exchange rate like ? since you can pay it off using a rewards earning credit card it might be a good option?

Bundll is closing in a week. next suggestion?

 

[coolstepslg]

Bundll is closing in a week. next suggestion?

thanks i didnt know it was ending time to max it out by pay off my zip. ref "You can continue using Bundll as usual until 9 May 2023." ref other products humm90 and humm do any have no fees for overseas?

 

[SYD]

since ING are stopping the atm opterator refund fee which is the next best card to use to get cash out? Whats the Bundll card exchange rate like ? since you can pay it off using a rewards earning credit card it might be a good option?

There’s a parallel discussion here:

ING Bank Dropping 5 Free Overseas ATM Withdraw Benefit from 1/8/23

Looks like further changes may be imminent: https://www.ozbargain.com.au/node/768968

www.australianfrequentflyer.com.au

Doesn’t look like anything else will rebate ATM fees but Citi, Westpac and HSBC have products that work ATM fee free in many places.

 

[coolstepslg]

ref Global ATM Alliance wbc Global ATM Alliance partners (a 3% foreign transaction fee applies when using a debit or credit card). because of the 3% fee i dont think westpac is worth it. is there a url for citibank plus and hsbc global listing the location of fee free atms? i found this HSBC link HSBC Bank Locations Worldwide cand citibank Citibank Locations Worldwide but not sure if it is current and shows all the ATMS?

 

[Lynda2475]

ref Global ATM Alliance wbc Global ATM Alliance partners (a 3% foreign transaction fee applies when using a debit or credit card). because of the 3% fee i dont think westpac is worth it. is there a url for citibank plus and hsbc global listing the location of fee free atms? i found this HSBC link HSBC Bank Locations Worldwide cand citibank Citibank Locations Worldwide but not sure if it is current and shows all the ATMS?

There used to be lists mainatined on Whirlpool; I havent check for a long time. I usually just google to see if Citibank have ATMs where im going.

 

[SYD]

ref Global ATM Alliance wbc Global ATM Alliance partners (a 3% foreign transaction fee applies when using a debit or credit card). because of the 3% fee i dont think westpac is worth it. is there a url for citibank plus and hsbc global listing the location of fee free atms? i found this HSBC link HSBC Bank Locations Worldwide cand citibank Citibank Locations Worldwide but not sure if it is current and shows all the ATMS?

There’s a Westpac prepaid card that doesn’t charge the 3%. Just load AUD to avoid the upfront FX fee.

 

[theblank]

since ING are stopping the atm opterator refund fee which is the next best card to use to get cash out? Whats the Bundll card exchange rate like ? since you can pay it off using a rewards earning credit card it might be a good option?

all of the cards/accounts that neither charge a ATM fee nor overseas transaction fee are the next best option.
There are several, and not much reason to choose one over the other, aside from personal preference over the bank service.

They are all free, so its a no brainer to just open an account with most or all of them. so easy to shift money from one to another in an instant of one card gets lost or whatever.

i always have a spare debit card in my sock.