Qantas Cash Card

[serfty]

That three days for bPay is artificial ... the funds are actually received overnight (business day) ... they just deliberatly hang on to it for two extra days before making it available ... I guess it helps increase their revenue.

 

[Gabriel]

Recently used it abroad and had no problems at cash machines or stores. My partner did have her card rejected a couple of times for an unknown reason. Depending how much my own bank wants to charge me for international usage it can be value for money.

Until they make the cash loading a little more user-friendly and speedier I don't think I'd use it again though. 2-3 days to transfer the cash and a different transfer reference every time just seems a little archaic.

 

[opusman]

Until they make the cash loading a little more user-friendly and speedier I don't think I'd use it again though. 2-3 days to transfer the cash and a different transfer reference every time just seems a little archaic.

Cash load can be overnight now if you use direct deposit - it's only bpay that takes 2-3 days.

My only issues with QC now are (in order):

- Not being able to select your own PIN
- The Android app still using the old 3 character login system rather than normal password
- Ridiculously convoluted activation system

It would be nice to see these addressed at some point.

 

[CMA222]

My only issues with QC now are (in order):

- Not being able to select your own PIN
- The Android app still using the old 3 character login system rather than normal password
- Ridiculously convoluted activation system

It would be nice to see these addressed at some point.

Not to mention the annoyingly coughbersome telephone access via the general Qantas 13 number that eventually transfers you to the QC (Heritage Bank) call centre. Apparently no one is listening to the customers concerns (surprise !!).

 

[AustraliaPoochie]

Sorry card PIN was referring to VA.
Will try to desist from doing that in future ie to off topic.

 

[dfcatch]

I'm surprised this thread is still going and you haven't all just gone out and got a Citibank Plus account for free with free FX cash withdrawal internationally.

This QF card has predatory FX rates - that's how they're making money off it.

Because:

1/ You don't receive any FF points with the Citibank card

2/ You're only guaranteed better with Citibank if you're comparing transactions on both cards occurring on the same day.

If you load QF Cash today at 0.75 (yes, with a hefty margin penalty), that's still better than using your Citibank card in 4 weeks with zero margin penalty but a spot-rate of 0.67.

If you can predict the future forex then WTF are you doing on AFF. I'd imagine the hookers, booze and private islands would be taking all your time.

Otherwise - comparing QF Cash vs Citibank.

QF Cash:
- earn points
- fx margin penalty


Citibank:
- no points
- no fx margin penalty


Unless both conversions are on the same day - then it's a simple gamble as to what the rate will be on any given day in the future.

All well and good to rail on and on and on and on about the ripoff rates on offer - but given currency fluctuations- you still may be better off (or at least close enough to justify the points earn).

The only true comparison that you can make with Citibank is against another card that converts on spot-rate

 

[RooFlyer]

Because:

1/ You don't receive any FF points with the Citibank card

2/ You're only guaranteed better with Citibank if you're comparing transactions on both cards occurring on the same day.

If you load QF Cash today at 0.75 (yes, with a hefty margin penalty), that's still better than using your Citibank card in 4 weeks with zero margin penalty but a spot-rate of 0.67.

If you can predict the future forex then WTF are you doing on AFF. I'd imagine the hookers, booze and private islands would be taking all your time.

Otherwise - comparing QF Cash vs Citibank.

QF Cash:
- earn points
- fx margin penalty

Citibank:
- no points
- no fx margin penalty
<snip>

Fair points, but from my point of view:

* When I used it, the Qantas Cash card held quite a bit of lazy money - unused cash of certain currencies during a trip and especially between trips. I know you can convert them back to A$, but then you lose again in the FX. OR I could have tried to make my spend overseas down to the last $, euro, dirham etc etc but the chance of over-run is too great, meaning the card would take from another currency and you are down FX again.

* Citi Debit use isn't limited to the 7 (IIRC) currencies possible on the Qantas cash card. My own travel is far more wide ranging these days. Although this may not apply to most, those people only need to stray outside the 7 (IIRC) QCC currency zones once to need a new efficient card;

* if I over-load the Citi debit card, I can just as easily spend the cash wen I'm back in Oz;

* I acknowledge the FX roulette, but once the A$ reaches about the bottom, or near enough (which I think we are close to), the 'risk' in using Citi is mostly in my favour.

 

[dfcatch]

See to complete your assessment you need to compare QF Cash to Citi to WBC/AMEX/NAB etc standard CC (which peeps have in their wallet).

The simplest comparison is first to say Citi vs CC:

Both allow you to use all currencies and don't have issues of left over currency.

Citi forgoes points-earn in favour of a better exchange rate. Of course IIRC Bankwest Platinum gives both.


Or if just talking debit cards - then you first need to isolate issues of travel cards vs debit cards.

Eg. My Westpac Debit Card vs Citi Debit Card.

- clearly I'm better using the Citi card as neither earn points and the Citi doesn't add a fx margin penalty.


For me - QF card vs Citi card...

- I really only use USD (maybe some CAD) and I don't worry about left over units as I'll use them.

- I can forgo the points and hope that the spot rate in the future is within 3-4% of today (and use Citi).

- or I can take the fx penalty today, remove future fx risk (which may or may not hurt or help - but no point worrying), take the points earn, and use a card that is already in my wallet without needing an extra card.

I only need one debit card - I'm happy for the QF card to be it.

I'll use a CC for pre-auths.

And I keep a separate card (CC or debit) as my backup with lots of cash in case I lose my wallet.

 

[RooFlyer]

See to complete your assessment you need to compare QF Cash to Citi to WBC/AMEX/NAB etc standard CC (which peeps have in their wallet).

<snip>.

OK, but I was just following your lead and comparing Citi debit Vs Qantas cash . I bank with CBA whose cards are so far off the cost radar for private o/s use its not funny, notwithstanding the CBA AMEX Diamond card gets 1.5 QFF points per A$). But when I'm getting re-imbursed by client, I find that card quite handy (and, for the pedants, the cc costs are itemised separately for the client!)

 

[MEL_Traveller]

The other thing to consider with locking in rates today (on say a travel card) is the loss of interest. Currently I'm getting 3.5% sitting in the bank, although ATM this isn't helping much with the AUD.

 

[drross]

The other thing to consider with locking in rates today (on say a travel card) is the loss of interest. Currently I'm getting 3.5% sitting in the bank, although ATM this isn't helping much with the AUD.

doing very well to get 3.5%

 

[MEL_Traveller]

doing very well to get 3.5%

ING Saving Maximiser. RAMS (as in home loans) is offering 3.6% for a savings account (you have to deposit $200 a month)

 

[Limewood]

I've tried other travel cards and had problems and in one case had an expensive long call from USA to OZ to rectify. Have used the Qantas Cash card a few times in various countries and off the beaten track towns without a hitch.

I usually put $5000 in and convert to USD (or other currencies) for longer trips and take cash too (plus a normal CC in case), on a trip to Europe soon be doing the same and convert to Euros, Ok the Qantas Cash card gives a poor exchange rate but I'm comfortable in using it and receiving the QFF points.

 

[Gabriel]

I got unlucky with mine. Used it 5 times (1 cash machine, 4 restaurants) in Europe. One month later and somebody empties it in America. Just going through the dispute process. Mastercard blocked the card, but only after it was emptied and they kept trying to draw more out. I'm a bit disappointed that the cards are not restricted to pre-designated countries like you can do with other banks.

Guess I could say I got lucky, that I used a pre-paid card instead of one personal banking or credit card. Although I have cancelled all my cards that I took on holiday with me, just in case.

 

[hottykrh]

Used Qantas CCs in USA in June/July. We each loaded UD8000 and GBP3000 . Used QCC as deposit card at hotel booking for 2 weeks, but had to change hotels after 1 day. Room far too small, hotel was very understanding and quite helpful. However later noted on iPad that QCC account had used up all the USD and was into the GBP due to pending hold on funds. A few phone calls back to Aus then we had to go back to hotel and get them to email QCC requesting release funds (which could be held for weeks). Eventually fixed and apart from 3 other cases of double entry, finished USA and converted residue to GPD then SGD.
Warning, use credit card for initial hotel deposit, then use QCC at end of stay.

Also note that USA don't let you use PIN but you sign the receipt; who knows what happens in the back room?

Otherwise the QCC worked well in all places and we both received the Q bonus points; but wasted a lot of time on the internet and phone.

 

[MEL_Traveller]

Used Qantas CCs in USA in June/July. We each loaded UD8000 and GBP3000 . Used QCC as deposit card at hotel booking for 2 weeks, but had to change hotels after 1 day. Room far too small, hotel was very understanding and quite helpful. However later noted on iPad that QCC account had used up all the USD and was into the GBP due to pending hold on funds. A few phone calls back to Aus then we had to go back to hotel and get them to email QCC requesting release funds (which could be held for weeks). Eventually fixed and apart from 3 other cases of double entry, finished USA and converted residue to GPD then SGD.
Warning, use credit card for initial hotel deposit, then use QCC at end of stay.

Also note that USA don't let you use PIN but you sign the receipt; who knows what happens in the back room?

Otherwise the QCC worked well in all places and we both received the Q bonus points; but wasted a lot of time on the internet and phone.

On the USD rate, it works out to about $525 extra to use Qantas cash over something like 28 Degrees/Citi Debit, and about $360 for the GBP (so around ~$900 more in total). Do you estimate you saved that much (or more) by locking in the exchange rate in advance?

Your advice to avoid using Qantas Cash (or indeed any other similar travel cash card) for hotel deposits is good. I believe Qantas Cash says much the same in their literature. Pity they can't fix that up to be more like regular credit cards.

 

[eminere]

Used Qantas CCs in USA in June/July. We each loaded UD8000 and GBP3000 . Used QCC as deposit card at hotel booking for 2 weeks, but had to change hotels after 1 day. Room far too small, hotel was very understanding and quite helpful. However later noted on iPad that QCC account had used up all the USD and was into the GBP due to pending hold on funds. A few phone calls back to Aus then we had to go back to hotel and get them to email QCC requesting release funds (which could be held for weeks). Eventually fixed and apart from 3 other cases of double entry, finished USA and converted residue to GPD then SGD.
Warning, use credit card for initial hotel deposit, then use QCC at end of stay.

This is indeed advised in the Qantas Cash FAQs and would be equally applicable advice for all prepaid card facilities.

 

[opusman]

On the USD rate, it works out to about $525 extra to use Qantas cash over something like 28 Degrees/Citi Debit, and about $360 for the GBP (so around ~$900 more in total).

Are you sure about those figures? Say $525 = $US400 - that's 5% extra on $US8000 you're claiming. What rates are you basing that on?

 

[MEL_Traveller]

Are you sure about those figures? Say $525 = $US400 - that's 5% extra on $US8000 you're claiming. What rates are you basing that on?

I was basing this on today's currency exchange rates (assuming the same difference at all other times) - QF cash is offering .6966, XE (which is close enough to what you'll get with 28 degrees) is .7307 - that's about 4.8% difference?

Disclaimer: IANAM (I am not a mathematician)... so I may have got that completely wrong :shock:

 

[Walter_Plinge]

Used Qantas CCs in USA in June/July. We each loaded UD8000 and GBP3000 . Used QCC as deposit card at hotel booking for 2 weeks, but had to change hotels after 1 day. Room far too small, hotel was very understanding and quite helpful. However later noted on iPad that QCC account had used up all the USD and was into the GBP due to pending hold on funds. A few phone calls back to Aus then we had to go back to hotel and get them to email QCC requesting release funds (which could be held for weeks). Eventually fixed and apart from 3 other cases of double entry, finished USA and converted residue to GPD then SGD.
Warning, use credit card for initial hotel deposit, then use QCC at end of stay.

Indeed. The lesson is...use a normal credit card for hotels.

I found another curious extension of this when I was in the US in May. I used the QCC to buy gas many times and as you know you pay at the pump in the US. On three of four occasions the machine asked for my zip code, which it apparently verifies against your details on the card. If this happens you have to go inside and pay in advance at the counter. A couple of times I just swapped to a (Visa) credit card and that worked. Problem is the pump has already reserved USD $100 against the QCC card and it stays there for two or three weeks.

Paying in advance inside worked OK. Once I over-estimated the amount required for a fill. I went back inside to ask for a refund. "It's already happened" said the attendant. Only the correct amount appears on my statement. The system must delete the requested amount and substitute the correct amount after you hang up the nozzle.

Filling up at Old Faithful I came across a German tourist who was having a frustrating time with his Germany-issued debit card. I suggested he tell the system it's a credit card - that worked a couple of times for me.