28° Mastercard Cash Advances while overseas [No more free cash advances from 1/1/14]

[bobsi18]

She advised that if l were planning a trip overseas, it's wise to ring Wizard and tell them where you are going and what dates before you leave. Has anyone else heard of this policy from Wizard????

Yep, I always let them know when I'm overseas, much better option than having your card cancelled on you whilst traveling...

I often put 2-4L on my card with no issues.

 

[serfty]

I just took a look at the the Clear Advantage site and it does not appear to mention the free international transactions etc. Does the product definitely still offer this?

Thanks

Yes! I used mine this week in NZ.

See post #298 of this thread.

 

[oz_perspective]

Thanks Serfty - I did read that. I was only concerned as that was last updated in May, and the official site makes no mention of the features.

Thanks

 

[serfty]

Thanks Serfty - I did read that. I was only concerned as that was last updated in May, and the official site makes no mention of the features.

Thanks

If a 'fee' exists, it must be mentioned. The absence is telling.

 

[solo86]

Just thought I would add my experience to this thread. Got back from an overseas trip a couple of weeks ago - spent 3 months in Europe and took the Wizard Mastercard with me. It was brilliant! I used it the entire 3 months and only had 2 minor problems with it. The first was in Budapest - I couldn't get any cash from 2 different atms I tried (different banks). Called customer service and they said it must have just been a technical glitch and that I should try again later. By that time I'd just used my normal Commonwealth key card so I didn't need any money and couldn't test it. Incidentally, that one transaction with my atm card cost me $8 in fees! I was very glad not to be paying that kind of $$$ throughout the whole trip.

The second time I had a problem with a card was in London the day before I flew home. I tried it in a HSBC bank (I had successfully used their atms many times before) and couldn't get any cash. Walked down the street to a different bank and everything worked fine. Didn't call to ask about it as I was leaving the next day and didn't really care, so not sure what the problem was.

Anyway, over 3 months, 12 countries, and hundreds of transactions with many different banks, I was ecstatic that I only had 2 very minor problems. And I was never charged an atm fee. I am definitely taking it with me next time I go!

 

[MEL_Traveller]

The lady on the phone was VERY helpful and l told her that l was planning on going to BKK in December. And was just using the card to get money from ATM's because they did not attract any ATM withdrawal fees.

She wrote the dates down and told me that the fraud section at Wizard are always on the lookout for weird transactions. She advised that if l were planning a trip overseas, it's wise to ring Wizard and tell them where you are going and what dates before you leave. Has anyone else heard of this policy from Wizard????

Note that in Bangkok almost all ATMs now charge a 150 baht fee for cash withdrawals made using foreign cards. (This is about AUD5.)

This will be added to the amount you take out, so it is better to take out large amounts of cash and store it safely somewhere.

This is not a Wizard charge, who still give you the best rate (IMO), just the 150 is added on.

Not sure I understand the '?????' - you make it sound like a bad thing?

All banks give you the same advice. That you should call.

Of course you are not obliged to contact wizard or any other bank to tell them you are going overseas, just that it may help prevent the situation where they temporarily cut your card off because of unexplained foreign transactions.

 

[Oneworldplus2]

the ???? was because when l was with St George and went overseas (numerous times over a perios of about 6 years), l never notified them and never had any problems. My cards never got rejected or closed because of sus activity.

 

[MEL_Traveller]

the ???? was because when l was with St George and went overseas (numerous times over a perios of about 6 years), l never notified them and never had any problems. My cards never got rejected or closed because of sus activity.

oh! I see.

More fool St George then as they are liable for fraud on the credit card providing you can prove you didn't divulge your PIN etc.

So by them not monitoring your account and calling you for potentially suspicious activity does not seem like best practice.

 

[Chicken]

I am weighting between Wizard, and Westpac Singapore.

Westpac Singapore is giving 1.5 mile per AUD$1 overseas, which is very tempting, even with 3% forex commission

 

[MEL_Traveller]

I am weighting between Wizard, and Westpac Singapore.

Westpac Singapore is giving 1.5 mile per AUD$1 overseas, which is very tempting, even with 3% forex commission

Let's say a round-trip reward Asia-Australia (on Qantas) is 60,000 miles.

To get that you'd need to spend $40,000 (x1.5). Then add taxes.

Or, $40,000 on wizard at 3% forex saved = $1200.

That'd give you a ticket outright on just about any carrier, including taxes.

If you want a biz class ticket you'd need to spend $80,000 to give you 120,000 miles.

At 3% forex that = $2400 saved if using wizard - but you'd be lucky to get a ticket in business for that price.

FWIW, and I don't know if others agree... wizard actually seems to save you a little bit more than the outright 3% forex. Westpac also gives me a lousy excahnge rate to start with.

What do I mean by that? Wizard gives me 'almost' the mid bank rate on transactions. The westpac rate is usually a little bit off the mid rate. THEN they add the 3%.

So on one day the westpac card cost me almost 4% in total fees.

 

[Chicken]

Let's say a round-trip reward Asia-Australia (on Qantas) is 60,000 miles.

But Singapore only needs 55000 miles x 15% online claim discount = 46750 miles.

That means I need to spend AUD$31166

Say $31166 x 4% forex fees = $1246.64

OK, so much of muchless.

Is that right?

If I fly SYD / MEL - LHR

95000 miles x 15% off online claim = 80750 miles needed

That means I need to spend $53833

$53833 x 4% forex commission = $2153.32

Um... A Y seat to LHR could worth anywhere from $1600 - $3000, depends on when I want to go.

Hard to decide.

My Citibank had been capped again, it is now pointless

80750

 

[auriga]

Don't forget you still need to pay taxes/ fuel fines, which adds up to a lot esp on SQ.

 

[gibspmuh]

And also remember by redeeming points you're forgoing the points you would have earnt with a paid ticket too, along with any progress towards status.

 

[Alanslegal]

Now cash withdrawals at Westpac ATM's are fee-free.

 

[serfty]

Now cash withdrawals at Westpac ATM's are fee-free.

This has been since such fees were allowed earlier this year (around March). Before that any withdrawal at an Oz ATM was fee free.

Because of these rule changes, Wizard have done a deal with Westpac to all fee-free wizard withdrawals. At other ATMs a fee may be charged.

See various posts starting from post #213 of this thread for more information.

 

[Alanslegal]

This has been since such fees were allowed earlier this year (around March). Before that any withdrawal at an Oz ATM was fee free.

See various posts starting from post #213 of this thread for more information.

Oh I'm that slow?! I just got excited when I saw their website flashed the no-fee Westpac ATM (not that many people would want to withdraw from CC locally unless they have surplus credit on the card).

 

[auriga]

Oh I'm that slow?! I just got excited when I saw their website flashed the no-fee Westpac ATM (not that many people would want to withdraw from CC locally unless they have surplus credit on the card).

It happens to everyone at one time or another!:mrgreen:

 

[peterspeter]

Is there anyway to get around the cash advance limit? They gave me a really low credit limit on this card ($500).
I'm going overseas soon, and I think I will be struggling with AUD$500 for every 5 days.
Also, is overseas purchases seperate from this cash advance limit? Assuming I have enough credits, can I purachase, say, $2,000 of goods, and withdraw $500 cash from ATM the same day?
Too bad can't do cashout on credit cards

*Don't advise me to apply for a limit increase, tried that (call, online, mail) and they won't increase a cent. They must be very tight in giving out credits considering I just cancelled a card with 25x that limit.

 

[Chicken]

Is there anyway to get around the cash advance limit?

Deposit more money into it.

You should not be doing cash out from your available credit limit anyway, or you will start paying 18.49% immediately.

Assuming I have enough credits, can I purachase, say, $2,000 of goods, and withdraw $500 cash from ATM the same day?

From point 3 in Wizard Clear Advantage Mastercard

you can withdraw up to $1,000 per day at an ATM and up to $3,000 per day over the counter at a financial institution

 

[FL360]

Hi peterspeter,

I have a feeling that GE Money is trying to close this product, can anyone confirm whether they are issuing new cards ?

Now back to the topic, long time ago I have heard the cash withdrawal limit is the credit limit, however various sources in this thread said otherwise.

So you can try to load the card with the amount you wish to withdraw, and try to withdraw it day by day, remember the ATM daily cash withdrawal limit still applies...

As for whether the daily cash withdraw limit is separate from purchase, I would say probably yes, however if you do this the purchase amount will be deducted from the credit part of the amount first, leaving you less to withdraw as cash (interet and fee free)... for details read the guide I have made in thread number X.

BTW I have made some withdrawals in the past months, and the rate used is still good as gold (less than 1%, sometimes as little as 0.03%) compare with Yahoo finance rate, however the recent surge of the AUD may contribute to this...