Westpac fee increases April 1

Discussion in 'Westpac Altitude Rewards' started by Guest, Feb 28, 2005.

  1. Guest

    Guest Guest

    Sorry if this has already been posted.

    Effective April 1, 2005

    Over limit fee: $25 -> $30
    Foreign currency fee: 1.0% -> 1.5%
    cash advance : $50 tops -> $150 tops
    min payment 3% -> 2%
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    foreign currency is what hits me hard. guess this baby is stickly purely to AU purchases only now!
     
  2. dajop

    dajop Senior Member

    Jul 1, 2002
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    Yup gets pretty bad for forex. The other day in SIN, cashed in some A$ for an exhange rate of 1.27:1, at a forex booth. On the same day spent some on the Westpac card, and it came through at 1.245:1. And that's before it moved from 1 to 1.5%. Someones making some serious $$$ somwhere along the way.
     
  3. Kiwi Flyer

    Kiwi Flyer Senior Member

    Sep 24, 2004
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    Ouch. :x Am I right in thinking the 1.5% is on top of the currency charge by visa/mastercard?
     
  4. Kiwi Flyer

    Kiwi Flyer Senior Member

    Sep 24, 2004
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    BTW in NZ the commerce commission (or is that the banking ombudswoman?) is investigating currency charges. The immediate reaction of the banks was to disclose on the statements the charge - better than before where you had to ring up to find out (wasnt even on the website). I guess they wont reduce the charge unless the commission/ombudswoman finds against the banks.
     
  5. Guest

    Guest Guest

    What banks display the forex fee separate? I know commonwealth do... have not seen it as a separate charge for the others?
     
  6. Kiwi Flyer

    Kiwi Flyer Senior Member

    Sep 24, 2004
    5,453
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    Not shown separately as in amount, rather a paragraph added saying x% fee by MC/V plus x% fee by bank (or else total fee).
     
  7. serfty

    Moderator

    Nov 16, 2004
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    This was a trasaction using a Westpac (BOM) Debit Visa last weekend.
    Code:
    7 Mar 2005    VISA CASH ADVANCE WBC DOWNTOWN A/*WBC DO AUCKLAND NZ NZD 40.00    37.59 
    At least they do not charge a $5 additional fee like the ANZ.
    Code:
    04/03/2005 PLUS ATM TRANSACTION FEE                                       $5.00 
    04/03/2005 ATM ANZ /DOWNTOWN #N #AUCKLAND FOREIGN CURRENCY AMT NZD 40.00 $38.07  
    
    Both withdrawals on the same day within 2 hours. Same amount, different costs.
     
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