Using Altitude overseas?

[k_sheep]

Hi everyone

After reading about thailand introducing a 150baht fee to withdraw money from ATMs, I'm rethinking my money situation for my trip next month!

In vietnam, I had previously put money onto my altitude gold mastercard, and withdrew money as a cash advance. I didn't get charged any cash advance fee. But when I tried this in Australia I got slugged a $15 fee.

Can anyone confirm if this is fee free overseas (except the 3% currency conversion or whatever it is) but not locally? Or did the rules change in between me doing cash advances?

I've tried finding out in the maze that is the westpac site, to no avail. And I don't really want to sit on hold to their call centre for an hour, but I'll do that monday if required.

 

[serfty]

With westpac, they are part of a Global Alliance" of certain banks.

There should be no fee for withdrawing from ATMs of banks who are part of this alliance.

This page should assist:

Westpac Internet -Accessing your accounts overseas

 

[oz_mark]

When withdrawing money using your Altitude card, there is a difference in fee depending on whether it is processed as a withdrawal or a cash advance.

If the balance after the withdrawal is negative (debit), you get charged 2% (min $2.50) of the transaction. If the balance after the withdrawal is positive (credit), you will get charged $2.50.

Is this possibly the difference?

 

[albatross710]

Consider using yoru Handycard for overseas withdrawals and avoiding the credit card fees.

I think Westpac are being a little greedy with their foreign fees.

Next time I'm travelling in Vietnam I'd just carry AUD. Seems to have been widely accepted, exchnage rates were better than I was getting in Australia when I was converting to VND.

For instance, the best I could get at Westpac & Travellex was AUD1 = VND10,715. On the ground in SGN I was getting AUD1 = VND14,000. 35% better rate, far outweighing Westpac convenience.

 

[greynomad]

Hi everyone

After reading about thailand introducing a 150baht fee to withdraw money from ATMs, I'm rethinking my money situation for my trip next month!

In vietnam, I had previously put money onto my altitude gold mastercard, and withdrew money as a cash advance. I didn't get charged any cash advance fee. But when I tried this in Australia I got slugged a $15 fee.

Can anyone confirm if this is fee free overseas (except the 3% currency conversion or whatever it is) but not locally? Or did the rules change in between me doing cash advances?

I've tried finding out in the maze that is the westpac site, to no avail. And I don't really want to sit on hold to their call centre for an hour, but I'll do that monday if required.

Travellers Cheques may be old fashioned but in Thailand are the least expensive way to change dollars to baht. It costs 33 baht per cheque so cashing a $200 cheque cost just over $1.00. Australia travellers cheques are fee free from post offices and when purchased with a number of different credit cards.

 

[JohnK]

After reading about thailand introducing a 150baht fee to withdraw money from ATMs, I'm rethinking my money situation for my trip next month!

Off topic but this is a very interesting development! Looks like the fee has been introduced in April 2009. Some banks in Thailand used to charge 20 baht to withdraw money from an ATM but 150 baht is exorbitant.

I can see cash and travellers cheques becoming very popular again and to a lesser extent using a card to withdraw cash over the counter does not attract any fees. For people travelling to Thailand regularly it could be a good idea to open a local debit account and transfer money into this account whenever going to Thailand....

 

[k_sheep]

Thanks for all the replies everyone - been a bit of a nutso week so haven't got around to replying or calling westpac yet.

I reckon I might look into that travellers cheque option, and just take some $AU to change at the airport for incidentals until I can get to a bank over there.