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.)

 

[RealtimeY]

Agree with @SYD. I will also add that ING, UBank and Macquarie have good internet banking products/apps.

The HSBC and Citi online banking experiences are frustrating.

 

[SYD]

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.)

If you’re an existing Citi Plus account holder (check that it’s still active!), you should be good to go for the time being. We’re waiting hear what becomes of the Citi accounts in the fullness of time - hopefully not too soon. I haven’t even used mine in anger yet!

UBank is one to look at (if you’re put off by the ING hurdles).

 

[MEL_Traveller]

Thanks everyone for your replies. While I have a Citibank I'm looking to get one for my partner and of course new and supplementary applications are closed. Looking for a card to withdraw cash overseas at a good rate and ATM fee free.

Anyone familiar with UP Bank?

 

[SYD]

Anyone familiar with UP Bank?

No. Do you have a link?

Oh, wait lazy me Googled…

Up | Upgrade your banking

Up is a digital bank designed to help you organise your money and simplify your life. Join in minutes and pay no monthly fees.

up.com.au

Something to research tomorrow.

 

[HappyFlyerFamily]

Thanks everyone for your replies. While I have a Citibank I'm looking to get one for my partner and of course new and supplementary applications are closed. Looking for a card to withdraw cash overseas at a good rate and ATM fee free.

Anyone familiar with UP Bank?

Not a customer, but based on my understanding its up there with the usual suspects as an option for withdrawing cash from an overseas ATM.

When the CitiPlus account no longer has free access to the overseas Citi ATM network (and ING has dropped its ATM rebate), then it's pretty much a level playing field. All are subject to any ATM operator fees and use the "best" forex rates - the MC or Visa rate.

Up is pretty clear - MC rate and no international ATM fee (but subject to any ATM operator fee)

On other criteria (ie not relating withdrawing cash overseas) which may be relevant before deciding to take up the product, Up has a reasonable interest rate 4.1% and has access to Wise for money transfers (as a comparison I believe Citi is 4.1%, ING is 5.25% if you meet other deposit/transaction/balance criteria, uBank is 4.75% if you meet deposit criteria, Macquarie is 4.25%). Up is part of the Bendigo and Adelaide Banking group.

 

[MEL_Traveller]

Thanks everyone! We were looking at HSBC but like some others their ‘pricing’ model can be confusing. Rather than talk about the prevailing visa or MC rate they have pages where they talk about buy and sell rates… which makes me wonder if ‘transaction fee free’ really means ‘inter-bank rate and no fees’, or ‘we apply our spread first and then no fees’. It may be the former, but why make it so complicated?

Will have another look at Up!

 

[StayGoldPonyboy]

Great southern bank everyday edge account

edited: Doesn't rebate OS ATM fees like ING used to but I just suggested it as an alternative to others mentioned in the thread, in case people want another option. soz for confusing people

I already bank with them so I can do the necessary hurdles. I think their app is great (but then my other bank is BOQ lol)

$0 international fees
Shop overseas and online with your Everyday Edge Visa Debit card and we’ll refund the Great Southern Bank international card transaction and ATM fees.*

* A fee rebate will be applied to your Everyday Edge Account on the first day of the next calendar month for all Great Southern Bank Visa Debit International Transaction Fees and Great Southern Bank Overseas ATM Cash Withdrawal Fees debited during the current calendar month if, prior to the last day of that calendar month: A. You receive deposits totalling $2,000 or more by electronic transfer (excluding telegraphic transfer) from a non-Great Southern Bank account into your Everyday Edge Account; and B. At least 5 Visa Debit card purchases have been processed from your Everyday Edge Account and are not in pending status (excludes ATM withdrawals, eftpos cash out, balance enquiries and Bank@Post transactions). International non-Great Southern Bank fees may apply. Excludes eftpos Debit Card international transaction fees.

 

[SydneySwan]

Great southern bank everyday edge account

* A fee rebate will be applied to your Everyday Edge Account on the first day of the next calendar month for all Great Southern Bank Visa Debit International Transaction Fees and Great Southern Bank Overseas ATM Cash Withdrawal Fees debited during the current calendar month if, prior to the last day of that calendar month: A. You receive deposits totalling $2,000 or more by electronic transfer (excluding telegraphic transfer) from a non-Great Southern Bank account into your Everyday Edge Account; and B. At least 5 Visa Debit card purchases have been processed from your Everyday Edge Account and are not in pending status (excludes ATM withdrawals, eftpos cash out, balance enquiries and Bank@Post transactions). International non-Great Southern Bank fees may apply. Excludes eftpos Debit Card international transaction fees.

My bolding. So no better than the rest - ING, etc.

 

[StayGoldPonyboy]

My bolding. So no better than the rest - ING, e

Yes just another option I hadn't seen mentioned

 

[imipenam]

* A fee rebate will be applied to your Everyday Edge Account on the first day of the next calendar month for all Great Southern Bank Visa Debit International Transaction Fees and Great Southern Bank Overseas ATM Cash Withdrawal Fees debited …

So, will it be refunding overseas ATM Cash Withdrawal Fees? (Which was the original benefit of ING)

 

[Lynda2475]

So, will it be refunding ooverseas ATM Cash Withdrawal Fees? (Which was the original benefit of ING)

No it will not refund fees that the oversea ATM operator may add, just their own fees.

 

[HappyFlyerFamily]

Great southern bank everyday edge account

I already bank with them so I can do the necessary hurdles. I think their app is great (but then my other bank is BOQ lol)

$0 international fees
Shop overseas and online with your Everyday Edge Visa Debit card and we’ll refund the Great Southern Bank international card transaction and ATM fees.*

* A fee rebate will be applied to your Everyday Edge Account on the first day of the next calendar month for all Great Southern Bank Visa Debit International Transaction Fees and Great Southern Bank Overseas ATM Cash Withdrawal Fees debited during the current calendar month if, prior to the last day of that calendar month: A. You receive deposits totalling $2,000 or more by electronic transfer (excluding telegraphic transfer) from a non-Great Southern Bank account into your Everyday Edge Account; and B. At least 5 Visa Debit card purchases have been processed from your Everyday Edge Account and are not in pending status (excludes ATM withdrawals, eftpos cash out, balance enquiries and Bank@Post transactions). International non-Great Southern Bank fees may apply. Excludes eftpos Debit Card international transaction fees.

Does it say somewhere what is the exchange rate being used? Something like "wholesale Visa rate"...

* A fee rebate will be applied to your Everyday Edge Account on the first day of the next calendar month for all Great Southern Bank Visa Debit International Transaction Fees and Great Southern Bank Overseas ATM Cash Withdrawal Fees debited …

So, will it be refunding ooverseas ATM Cash Withdrawal Fees? (Which was the original benefit of ING)

This bank charges a fee for international ATMs (and international transaction fees) and then rebates it. There is no suggestion that the ATM operator fee is rebated (as pointed out by SydneySwan post 348). [ING rebated the first 5 ATM fee - both any ING fee and the ATM operator fee.]

 

[StayGoldPonyboy]

So, will it be refunding ooverseas ATM Cash Withdrawal Fees? (Which was the original benefit of ING)

No just another option now like ING post enhancement

 

[FL360]

Thanks for the tip.
We are only staying at the overwater bungalow 95% of the time, the bus is already booked to/ from the airport to the port.

Have a few hours in the town and see if we can visit the markets!

We are just back from New Caledonia and stayed at the Double Tree Hilton resort and Noumea town centre - happy to report that we did not take any XPF cash and have no such need anyway!

 

[SeaWolf]

The PDS doesn’t say this, so I may lodge a complaint when I return to Australia.

Did you ever get to the bottom of this? I was thinking of picking up one of these cards for my next trip, but was just wondering if you manage to sort out the difference in your experience and what the PDS states should happen.

 

[mel-world]

I'll be quite disappointed when Citibank is finally absorbed into the NAB completely and, more likely than not, has the same T&Cs as NAB cards. On our recent trip, Citibank did not charge 3% on purchases and absorbed all ATM provider fees (including one of 8 euros at a particularly greedy Austrian bank in Kitzbuhel). The exchange rate did not appear to be any worse than the Latitude 28 degree card I used for most purchases.

 

[There'sOnlyOneJimmy]

I'll be quite disappointed when Citibank is finally absorbed into the NAB completely and, more likely than not, has the same T&Cs as NAB cards. On our recent trip, Citibank did not charge 3% on purchases and absorbed all ATM provider fees (including one of 8 euros at a particularly greedy Austrian bank in Kitzbuhel). The exchange rate did not appear to be any worse than the Latitude 28 degree card I used for most purchases.

That sounds promising…
Can you please tell the ‘product name’ of the card you used (crossing my fingers that it’s the one I have…).

 

[mel-world]

Nothing fancy....just a plain Citibank Australia Debit card.

 

[Pete98765432]

Did you ever get to the bottom of this? I was thinking of picking up one of these cards for my next trip, but was just wondering if you manage to sort out the difference in your experience and what the PDS states should happen.

Not yet, I’m still in Europe. I plan to follow up on it when I return home in a couple of weeks.

 

[SYD]

and absorbed all ATM provider fees (including one of 8 euros at a particularly greedy Austrian bank in Kitzbuhel).

So how did that actually work? As per the comment above, I thought Citi allowed fee free ATM withdrawals at associated machines but didn’t rebate.