NAB acquires Citibank Australia

[serfty]

Was just reading some of the changes

From 5 November 2025, the debit interest rate (which is charged if your account becomes overdrawn*) will change from 0.00% to 20.00% p.a
From 5 November 2025, overseas access fees (as outlined below) will no longer be waived for NAB Classic Banking accounts opened as part of the migration from Citi to NAB

• ATM cash withdrawal – $5 per withdrawal
• Balance enquiry – $1 per enquiry
• International transaction fee – 3.5% of the Australian dollar amount charged when an international transaction is posted (completed) to your account

I decided it would be better reclaim that cent. It has had a long but possibly boring life after being separated from its peers early last year. The

What are the alternatives for overseas fee free cards to withdraw cash at foreign ATMs?

There are some suggestions here ...

A

Post in thread 'Is Citi Plus still the best option for overseas cash?'

May 31, 2024

No, and not worth the trouble as well. Visa and Mastercard rates are already excellent, and using a normal bank ATM card like ex Citi means you basically don't need to apply manage etc.

HSBC and those like Wise are only worth it if you have large amount of foreign currencies and you actively manage your foreign exchange risks.

What's so troublesome about them?

• Ansett Nostalgic

 

[moa999]

0 to 3.5%.. definitely trying to lose customers..

Oh well. Might take my other two NAB products with me.

 

[AIRwin]

I'm guessing the Online Saver interest will be next (although it's untouched at least for now, overdraft interest rate aside).

NAB Reward Saver?

 

[Chicken]

What are the alternatives for overseas fee free cards to withdraw cash at foreign ATMs?

Refer AFF article: "Best Australian debit cards for overseas cash withdrawals"

 

[MELso]

NAB Reward Saver?

Yes - that one...

 

[Scarlett]

Refer AFF article: "Best Australian debit cards for overseas cash withdrawals"

Thanks.
Seeing as I already have my ‘overseas use’ credit card with BankWest I may as well get their transaction account and debit card.

 

[AIRwin]

Thanks.
Seeing as I already have my ‘overseas use’ credit card with BankWest I may as well get their transaction account and debit card.

No more QF points

 

[oz_mark]

No more QF points

But no os transaction fee either.

 

[Happy Dude]

It'll be interesting to see what happens with those of us who still possess fee free 'for life' credit cards. I'd expect NAB to honour those given Citi's prior representations.

I shared those expectations right up until two days ago. I now expect them to kill the FFFL version at some point, following a migration of the Citi cards to NAB versions- grandfathering benefits for a while ala the Citi Plus accounts.

 

[Be.au]

Was just reading some of the changes

From 5 November 2025, the debit interest rate (which is charged if your account becomes overdrawn*) will change from 0.00% to 20.00% p.a
From 5 November 2025, overseas access fees (as outlined below) will no longer be waived for NAB Classic Banking accounts opened as part of the migration from Citi to NAB

• ATM cash withdrawal – $5 per withdrawal
• Balance enquiry – $1 per enquiry
• International transaction fee – 3.5% of the Australian dollar amount charged when an international transaction is posted (completed) to your account

Cancelled my migrated Citibank account today via chat in the app - the first reply I got was;

Hi Beau, Just to confirm, the account ending in xx_X is your Citi migrated NAB account. Before we proceed there are some things you should know about your Citi Branded NAB Account. The features and benefits that come with this account are exclusive to this account on your profile. This account has no international transaction fees on purchases and withdrawals. Here is some more information about the benefits of this account: Your NAB Classic Banking account fees, interest and information If we proceed to close the account today you will not be able to get these benefits and features in the future. Are you still wanting to proceed with your account closure today?

I then pointed out that on that very page linked in their message that international transaction fees will apply from November.

I have no need for a NAB card, it has nothing special that I can't get from my other accounts with Macquarie or Up or CommBank...

 

[moa999]

Lol. Idiots.

 

[burmans]

Just a personal view but maybe time to stop talking about it and instead take action!