NAB acquires Citibank Australia

[fkcn]

Good to know about VA promo like this. People should be taking actions because of numbers, which gives them a benefit, not emotions.

Citi also has an excellent, possibly best in Aus, transfer value for KF. So hoping that persists, given AMEX seems intent on losing customers with progressive devaluations.

 

[Chicken]

Citi also has an excellent, possibly best in Aus, transfer value for KF.

On SQ, Citi is just after AmEx, and about on par with dragon bank, so I will be keeping my Citi credit card as long as it's no annual fee. SQ also has hard expiry, so it is really stupid to cancel Citi NAB MyCard just because of irrational and illogical fear. There is no change, so keep doing what's financial best at the moment. When NAB do want to change, one could then make a new assessment of the situation. NAB can't just change things overnight, they have to give advance notice, so take action when that happens.

 

[asterix]

On SQ, Citi is just after AmEx, and about on par with dragon bank, so I will be keeping my Citi credit card as long as it's no annual fee. SQ also has hard expiry, so it is really stupid to cancel Citi NAB MyCard just because of irrational and illogical fear. There is no change, so keep doing what's financial best at the moment. When NAB do want to change, one could then make a new assessment of the situation. NAB can't just change things overnight, they have to give advance notice, so take action when that happens.

I get 0.8 KF per dollar with my Citi Premier and 0.75 KF per dollar with my Platinum Charge.

 

[Chicken]

I get 0.8 KF per dollar with my Citi Premier and 0.75 KF per dollar with my Platinum Charge.

That's interesting.

My Citi Premier is
internet 0.8
others 0.4
govt 0

My AmEx is $1 = 2.25 AmEx point = 0.75 SQ mile

So AmEx earn a lot more than Citi

 

[fkcn]

That's interesting.

My Citi Premier is
internet 0.8
others 0.4
govt 0

My AmEx is $1 = 2.25 AmEx point = 0.75 SQ mile

So AmEx earn a lot more than Citi

I never spend my Citi in person, just online given double earn rate as above.

 

[asterix]

I never spend my Citi in person, just online given double earn rate as above.

Same, I only use my Citi card for online purchases.

 

[Flashback]

Ah, such fun, I've always held the card as a way to get some money from Aus if needed - there's been a few times it's helped out.

I suspect I may be a fish out of water trying to get a new AU account setup with MacBank though given I'm not resident there, not tax resident, don't have myID (myGov) etc. ?

I did previously have an ING account, but they closed that years ago due to non use (as my Citibank (now NAB) was the one actively used).

So, MacBank is a non starter as it asks if you're AU resident during the account creation. Do I lie and say yes, using my folks address, or am I a fish out of water?

Any other options that will accept someone with an Aussie address, but not resident? Wise, Revolut etc. isn't as cost effective (i.e., free) for moving money from AU to UK for me. Ironically, my ING account that I had eventually closed down completely by them as I hadn't used it. Hindsight and all that ........

Options I see are ING and Bank West, but it depends on whether they require you to be resident or not, plus the associated ID requirements of which I'd only have an AU passport.

 

[Chicken]

So, MacBank is a non starter as it asks if you're AU resident during the account creation. Do I lie and say yes, using my folks address, or am I a fish out of water?

Options I see are ING and Bank West, but it depends on whether they require you to be resident or not, plus the associated ID requirements of which I'd only have an AU passport.

I mean, you fly to Australia a lot, and check your mail at your parents', right? And you also have a TFN too, right?

If I were in your shoes, I would say I'm a resident

I personally use Suncorp, they are also fee free of everything including forex, so here is another option. I use them because of historical relationships.

 

[Flashback]

I mean, you fly to Australia a lot, and check your mail at your parents', right? And you also have a TFN too, right?

If I were in your shoes, I would say I'm a resident

I personally use Suncorp, they are also fee free of everything including forex, so here is another option. I use them because of historical relationships.

I do have a TFN etc. Will have a look at Suncorp as well, thanks!

The issue more so becomes whether an AU passport will be enough ID to open/verify the account.

 

[Chicken]

I do have a TFN etc. Will have a look at Suncorp as well, thanks!

The issue more so becomes whether an AU passport will be enough ID to open/verify the account.

It was about 2 years ago, the relative of a relative of a relative (you get the drift), came to Australia to start their uni course, which was also their first time coming to Australia.

I met them at the airport, took the train into the city, then transferred onto a bus to go to where she was going to stay. While on the bus, I shown her the options from Bankwest and Suncorp (I didn't recommend Macquarie as their ATM card does NOT have access to EFTPOS network). We decided on Bankwest. So, she just went to Bankwest web site using her phone, bang bang bang, and got her new Bankwest account with her BSB account number, before we even got off the bus. Card was already to be issued and in the mail.

And that person is not even an Australian, so they used their foreign passport, and it was verified on the spot (as they had already entered Australian on that passport number). They also didn't have TFN, obviously.

I personally would recommend Suncorp over Bankwest at the moment. I had to call Bankwest yesterday regarding my credit card, it took them 45 mins to answer. I had had to call Bankwest a few times in the last few years, and the wait time was 30 minutes being the shortest with 2 hours being the longest.

If a new arrival can open an account with Bankwest during one bus ride, you should be able to do the same with an Aussie passport.

 

[anat0l]

Just a note that Suncorp Banking was acquired by ANZ last year, so it's only a matter of time before being moved over to their systems. Likely not a huge concern, but so there.....

 

[Aeryn]

Any other options that will accept someone with an Aussie address, but not resident?

You could try AMP Go - I opened an account 3 weeks ago using my passport only but I had to make a video too to compare to passport biometrics and have you read out a code.

Their main limitation is that will only post your card to aussie address, but could you get it sent to your parents and have them forward on to you?

No foreign tx fees, Qantas points on txn balance and decent interest on the linked savings account.

Their online chat with a real person worked well; you have to download app and apply from the app there are no branches and there is no website.

 

[Chicken]

Just a note that Suncorp Banking was acquired by ANZ last year, so it's only a matter of time before being moved over to their systems. Likely not a huge concern, but so there.....

ANZ agreed not to close any branch in QLD, keep allowing Suncorp Bank to grow and operate with headquarter in QLD for at least the next 3 years, so I consider Suncorp Bank an option for the next 3 years. Deal with whatever happens in 3+ years' time, it's just a transaction account, we will cross the river when we get there.

 

[Flashback]

You could try AMP Go - I opened an account 3 weeks ago using my passport only but I had to make a video too to compare to passport biometrics and have you read out a code.

Their main limitation is that will only post your card to aussie address, but could you get it sent to your parents and have them forward on to you?

No foreign tx fees, Qantas points on txn balance and decent interest on the linked savings account.

Their online chat with a real person worked well; you have to download app and apply from the app there are no branches and there is no website.

That sounds perfect, and yes, my folks (or one of the many great AFFers that pass through PER) could bring it over. I have 2 records sitting there I need bringing over too.......

 

[burneracc]

If a new arrival can open an account with Bankwest during one bus ride, you should be able to do the same with an Aussie passport.

The irony being that I went to open a Bankwest account last month (Aus citizen, AND a resident of WA ie the west where Bankwest is from) and was knocked back for no apparent reason. Call times were comical so instead of fixing whatever issue with my application that there was, I have decided to move to Macquarie instead.

 

[Scarlett]

So, MacBank is a non starter as it asks if you're AU resident during the account creation. Do I lie and say yes, using my folks address, or am I a fish out of water?

Any other options that will accept someone with an Aussie address, but not resident? Wise, Revolut etc. isn't as cost effective (i.e., free) for moving money from AU to UK for me. Ironically, my ING account that I had eventually closed down completely by them as I hadn't used it. Hindsight and all that ........

Options I see are ING and Bank West, but it depends on whether they require you to be resident or not, plus the associated ID requirements of which I'd only have an AU passport.

Have you considered ‘the worlds local bank’ (if they’re still using that moniker): HSBC?

We opened an HSBC account (GBP denominated) first in the UK (whilst temporarily living there) and then had them open an Aussie account (AUD denominated) for us before we moved back to Aus. With global transfer functionality you can move cash between your linked accounts easily online.

 

[Flashback]

Have you considered ‘the worlds local bank’ (if they’re still using that moniker): HSBC?

We opened an HSBC account (GBP denominated) first in the UK (whilst temporarily living there) and then had them open an Aussie account (AUD denominated) for us before we moved back to Aus. With global transfer functionality you can move cash between your linked accounts easily online.

Does it move at the spot rate with no fees though? With my current NAB account I can withdraw cash at the daily spot rate for Visa/MC (can't remember which one the card is!).

 

[oz_mark]

Does it move at the spot rate with no fees though? With my current NAB account I can withdraw cash at the daily spot rate for Visa/MC (can't remember which one the card is!).

If it is a visa or MasterCard it will use the visa or MasterCard rate. These are different to the spot rate, and indeed to each other.

 

[Flashback]

If it is a visa or MasterCard it will use the visa or MasterCard rate. These are different to the spot rate, and indeed to each other.

Yes, exactly - perhaps just poorly written by me.