NAB acquires Citibank Australia

[bernardblack]

I haven't received an email. I talked to NAB yesterday about another matter, and asked about this at the end and the agent knew nothing about it but said she was sure I would receive notice if it were to actually happen.

(Of course I have less faith in bank employees than to treat that as authoritative.)

Yeah, I got the email yesterday.

 

[serfty]

You can do it via messaging in the app/internet banking - How to close a personal bank account online

Yep, that's how I shut mine.

 

[anat0l]

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

Welp, party is over. Time to consider the next card.

I know people keep talking about them (e.g. Wise, etc.); just need to find all those names again.

 

[Skyhawk]

They caught up with me finally. NAB is disappointing.

 

[LondonAussie]

Welp, party is over. Time to consider the next card.

I know people keep talking about them (e.g. Wise, etc.); just need to find all those names again.

The alternatives used to be Bankwest and Macquarie, but there should be other options too.

I use Wise for bank transfers or converting currency in advance, but their on the spot conversions for smaller amounts (ie for everyday purchases and withdrawals) don't seem to be as good as the Mastercard/Visa rates (assuming you have another fee-free card that uses these rates).

 

[oz_mark]

Welp, party is over. Time to consider the next card.

I know people keep talking about them (e.g. Wise, etc.); just need to find all those names again.

ING are also unwinding the requirements and hoops soon.

From 15 October 2025, ING will no longer charge an international ATM withdrawal fee on the Orange Everyday.
The existing International ATM Withdrawal Fee Rebate offer will continue to apply up until 14 October 2025 for customers that met the eligibility criteria in the previous month.


From 15 October 2025, ING will no longer charge international transaction fees on the Orange Everyday.
The existing International Transaction Fee Rebate offer will continue to apply up until 14 October 2025 for customers that met the eligibility criteria in the previous month.

 

[Be.au]

ING are also unwinding the requirements and hoops soon.

From 15 October 2025, ING will no longer charge an international ATM withdrawal fee on the Orange Everyday.
The existing International ATM Withdrawal Fee Rebate offer will continue to apply up until 14 October 2025 for customers that met the eligibility criteria in the previous month.


From 15 October 2025, ING will no longer charge international transaction fees on the Orange Everyday.
The existing International Transaction Fee Rebate offer will continue to apply up until 14 October 2025 for customers that met the eligibility criteria in the previous month.

However ING is also removing the domestic ATM rebate - so I think that leaves Macquarie as the only card issuer who will cover you withdrawing cash at any ATM in Australia.

 

[Chicken]

I know people keep talking about them (e.g. Wise, etc.); just need to find all those names again.

See AFF article: Best Australian debit cards for overseas cash withdrawals

 

[Jacques Vert]

However ING is also removing the domestic ATM rebate - so I think that leaves Macquarie as the only card issuer who will cover you withdrawing cash at any ATM in Australia.

I see Macquarie have both a transaction account and a savings account. As far as I can see, both are fee-free on overseas transactions and overseas ATM cash withdrawals. Main difference seems to be the interest rate. Am I missing something?

 

[asterix]

I see Macquarie have both a transaction account and a savings account. As far as I can see, both are fee-free on overseas transactions and overseas ATM cash withdrawals. Main difference seems to be the interest rate. Am I missing something?

The Macquarie transaction account also pays interest on your balance. It is lower than their savings account but still better than the norm of 0%. Transaction account interest rate is currently 2%.
We started the move to Macquarie year when uBank stopped allowing direct debits, transfers and Bpay from their savings accounts.

 

[HappyFlyerFamily]

I see Macquarie have both a transaction account and a savings account. As far as I can see, both are fee-free on overseas transactions and overseas ATM cash withdrawals. Main difference seems to be the interest rate. Am I missing something?

No debit card for Savings Account

For more info, Comparing Transaction and Savings Accounts

 

[SYD]

I see Macquarie have both a transaction account and a savings account. As far as I can see, both are fee-free on overseas transactions and overseas ATM cash withdrawals. Main difference seems to be the interest rate. Am I missing something?

Pretty sure the physical debit card / ApplePay only links with the transaction account. So FOREX fee free is probably mute point.

You open the Transaction Account first and then if you want, open the savings account. It make sense to have both, leave the bulk of your cash in Savings to earn interest (which is a major advantage over something like Wise - where they’re earning interest on your money). It’s easy to move money (similar to ING, UBank etc).

 

[jkbaus]

I see Macquarie have both a transaction account and a savings account. As far as I can see, both are fee-free on overseas transactions and overseas ATM cash withdrawals. Main difference seems to be the interest rate. Am I missing something?

Debit card and tap and pay only from transaction account. Other online payments can be from savings or transaction accounts.

The intro savings rate is variable.
I opened late July when 4 month intro rate was 4.85 but it recently dropped to 4.6.

I am another one who happily moved $ from UBank.

Edit. Refunds bank atm charged by Australian banks.

 

[Be.au]

See AFF article: Best Australian debit cards for overseas cash withdrawals

OzBargain also has a great wiki - https://www.ozbargain.com.au/wiki/cards_with_no_overseas_transaction_fees

I see Macquarie have both a transaction account and a savings account. As far as I can see, both are fee-free on overseas transactions and overseas ATM cash withdrawals. Main difference seems to be the interest rate. Am I missing something?

You don 't get a debit card with the savings account - the debit card (Mastercard) you get is linked to the transaction account only.

 

[Jacques Vert]

Pretty sure the physical debit card / ApplePay only links with the transaction account. So FOREX fee free is probably mute point.

You open the Transaction Account first and then if you want, open the savings account. It make sense to have both, leave the bulk of your cash in Savings to earn interest (which is a major advantage over something like Wise - where they’re earning interest on your money). It’s easy to move money (similar to ING, UBank etc).

So pretty much works the same as the CitiPlus and its linked savings account did.

 

[SYD]

So pretty much works the same as the CitiPlus and its linked savings account did.

Not familiar but probably.

However ING is also removing the domestic ATM rebate - so I think that leaves Macquarie as the only card issuer who will cover you withdrawing cash at any ATM in Australia.

Do you have a reference to where that’s described as a MacBank card feature - not that I’d need it these days.

You can do it via messaging in the app/internet banking - How to close a personal bank account online

Easy peasy cancelling card and account in the NAB branch today. Probably easier than flaffing around on a chat and the risk of them stuffing something.

 

[Chicken]

Do you have a reference to where that’s described as a MacBank card feature

"Domestic ATM transactions
Free
If you’re charged a fee at an ATM in Australia, we’ll refund it to your account."

 

[SYD]

"Domestic ATM transactions
Free
If you’re charged a fee at an ATM in Australia, we’ll refund it to your account."

Thanks. I was actually looking at that page and didn’t click on “Fees” since I was expecting to see feature about no fee!