Westpac fee increases April 1

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

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  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%
    Registered Users don't see this and have the option of removing all other advertisements.  Register HERE

    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
    8,177
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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
    5,453
    4
    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
    5,453
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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
    4
    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
    37,752
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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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