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

[Chicken]

Hi peterspeter,

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

Yes, I applied 3 weeks ago, then my girlfriend applied 2 weeks ago. Both of us been approved and got our cards.

 

[Flashback]

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...

I've just been booking all my hotels / train legs / flights etc. for my trip to Europe, and all of the charges have been within 1% or so against what xe.com has also

 

[bobsi18]

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

This was certainly true last year, but I think this has been changed recently, and they haven't updated the website - when I had dramas trying to withdraw earlier this year (August), I rang them, and they said you could withdraw your credit limit every couple of days... I mentioned it said $1000 on the website, and they just kind of ignored me.

 

[Flashback]

This was certainly true last year, but I think this has been changed recently, and they haven't updated the website - when I had dramas trying to withdraw earlier this year (August), I rang them, and they said you could withdraw your credit limit every couple of days... I mentioned it said $1000 on the website, and they just kind of ignored me.

The $1,000 refers to the per-day limit though; that still stands. Even if your card has a $5,000 limit you can only withdraw $1,000 per day from an ATM.

When you rang them and they said you can withdraw your credit limit every few days, that's correct also. It means that over 5 days you could withdraw $5,000 for example, and then over the next week; another $5,000 (assuming you had the funds there).

 

[peterspeter]

Thanks everyone, just confirms what I'm thinking: no cash withdrawal for more than my credit limited until the entry is posted.

Now, my card has a $500 credit limit with no outstanding balance. Prior to going overseas, I will BPay $10,000 into my card. Will I be able to do something similar to this:
Day 1: $2,000 purchases; $500 cash
Day 2,3,4: various purchases; $0 cash
Day 5: $2,000 purchases; $500 cash
or am I be only able to spend $500 in a single purchase?

 

[Chicken]

You will be fine.

The limit is for ATM cash advance only. There is no limit with buying things, just like when you use normal credit card.

 

[bobsi18]

The $1,000 refers to the per-day limit though; that still stands. Even if your card has a $5,000 limit you can only withdraw $1,000 per day from an ATM.

Certainly not the case for me - I was able to withdraw $2000 (my credit limit) in one go, but I had to wait until the withdraw showed in my account (ie it showed up in internet banking) before I could withdraw any more money (and I was able to once again withdraw $2000). This is what they said to me on the phone - the max you can withdraw in one day is your credit limit.

I discovered this accidently - last year I had issues at an ATM which resulted i me "attempting" to withdraw more than $1000 in a day (I went to withdraw $500, and the machine ate my card, bank gave me back my card, attempted to withdraw $500 and machine ate my card again. Bank gave me back my card, and on the third attempt the machine told me I had withdrawn the maximum amount per day, regardless of the fact that I hadn't received any money). Rang Wizard, and they said the card would automatically be reset after 24 hours and I would be able to withdraw money again. Sure enough, the next day I withdrew approx $500 with no issues. At that stage (August 2008), they told me that the limit you could withdraw in one day was $1000.

Fast forward to August 2009 and I needed to get out $4000 cash in Japan. I knew about the "$1000 limit", so I withdrew approx $990 first day, $990 second day, went to withdraw money on the third day and the machine wouldn't give me money. Rang Wizard, and they told me that the max I could withdraw was my credit limit. I explained I hadn't withdrawn any money, and they told me that limit applied until the withdrawl showed in my account, so I could, in effect, only withdraw $2000 every 4-5 days (depending on how long it takes the banks to show the withdrawl).

That's just my experiences - to be sure, if you're going o/s, and have time up your sleeve, and spare cash to play around with, I would test it out on a home ATM. For example, if your credit limit is $500, put $700 on your card and try to withdraw it... Also, after my experiences, I would never rely completely on one source of money, I always have a few backups in case.

 

[zzyss]

The limit is for ATM cash advance only. There is no limit with buying things, just like when you use normal credit card.

OK, I think this means what I think it means, but let me double-check with my own situation just to be sure to be sure

I have a $1,000 credit limit, and BPay $2000 into it prior to departing.

Day 1:
Withdraw $1000 (cash withdrawal limit)
Pay $1000 (credit limit)

Would this possible, or is the limit combined?

 

[PLANT]

Look a bit off course but paypal is giving 88cents while the dollar is 91cents in conversions.

Would it be better to buy something in Australia online using the Wizard card and their conversion rate?

 

[Flashback]

Look a bit off course but paypal is giving 88cents while the dollar is 91cents in conversions.

Would it be better to buy something in Australia online using the Wizard card and their conversion rate?

If you have that option.

 

[one9]

Look a bit off course but paypal is giving 88cents while the dollar is 91cents in conversions.

Would it be better to buy something in Australia online using the Wizard card and their conversion rate?

Nearly always PayPal conversion rate is worse then the banks (even after the 2 or 3%). It is usually always better to select the option "bill in the sellers listed currency." Often it will default to converting to AUD and you need to click on a small link to change it when making the payment.

 

[PLANT]

I didn't see any link?
Can I pay when paypal the only option using a different credit card than I submitted with paypal?

 

[Chicken]

I didn't see any link?
Can I pay when paypal the only option using a different credit card than I submitted with paypal?

You can link 2 credit cards to your PayPal account, you will then be asked which card you want to use when you need to pay for something.

 

[zzyss]

Look a bit off course but paypal is giving 88cents while the dollar is 91cents in conversions.

Would it be better to buy something in Australia online using the Wizard card and their conversion rate?

Hang on. Do you mean paying for something in foreign currency directly using your own card? Not sure if Paypal will let you do that....?

 

[Chicken]

Do you mean paying for something in foreign currency directly using your own card? Not sure if Paypal will let you do that....?

You can do this. This has been available for a long time. I never let PayPal do forex for me

 

[zzyss]

You can do this. This has been available for a long time. I never let PayPal do forex for me

Cool. Will have to look into this then!

 

[zzyss]

Ah, cough on a stick! My Amex is actually the "companion card" for Westpac Altitude, and Paypal won't accept it!

Blast.

 

[PLANT]

So can someone confirm that a Wizard Mastercard payment of an item via paypal in US dollars is a better option than using default paypal conversion?

Paypal conversion was .88cents
Wizard costs: ????

 

[Alanslegal]

Once upon a time, it took at least three working days for payments to be received on the Wizard card. Now it goes in overnight

 

[Warks]

For anyone travelling to Canada - British Columbia anyway but I reckon it's the same everywhere: it's very difficult to find an ATM which accepts the card. There was advice earlier about North Shore (Credit?) accepting it but the machine I tried in Whistler and was refused. I found it worked in one of those generic machines in the food court of a shopping centre but I couldn't get it work in any bank I tried. I got it to work again in a supermarket forecourt in Revelstoke (Coopers supermarket) but then couldn't get it to work again in Banff (Alberta).

Finally I walked the streets of Nelson trying it in every ATM I found - the last one worked:

Bank of Montreal (BMO). No fee either.
I must have missed this one each time in other towns.

No problem in USA (CA and WA) although I did get slugged a $3 fee once.