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

[serfty]

Thanks groover for the information/advice. Welcome to AFF

 

[baka]

Just got my Wizard card and planning to go overseas in a few months time. My credit limit is only $2000 and from reading page 4 I'm worried about the 'max withdrawal per cycle limit applying to the credit limit' :-|

Anyone know if this is the case? I won't be able to apply for a credit increase before leaving because haven't been on the card for at least six months.

 

[FL360]

This would probably be the case, as you have just received the card, the chance of approving a higher limit in such short time is slim.

Remember to fill in the ID form, so the 1k withdrawal limit won't apply.

As an alternative may be ask another person who are travelling with you to get another card, so you can withdrawal more cash ?
(Because it has no annual fee)

 

[baka]

I'm going with a friend, but I don't think he'll get approved for the wizard card. Damn we were hoping to put cash onto the card and withdraw the cash as we go. I guess we might have to use other methods

And the ID form you speak of..was the just the identiy check you do when you fill out the forms? I didn't get any other forms to fill out after receiving my card.

Thanks!

 

[FL360]

Hi Baka,

I remembered when I first got the card I need to fill in another form with a witness's signature and send it back to them so you can withdraw more than 1k, something like that, may be it is better to call and ask them to get this form. The purpose is for anti-money laundering, something like that..

Can't remember exactly where I got it as I it was a few years back....

 

[Flashback]

Yeh, I had to have mine witnessed by a person of importance. It gives you a list. I used a CPA.

Try here:
Wizard Home Loans Australia, interest rates, fees

 

[auriga]

I'm going with a friend, but I don't think he'll get approved for the wizard card. Damn we were hoping to put cash onto the card and withdraw the cash as we go. I guess we might have to use other methods

And the ID form you speak of..was the just the identiy check you do when you fill out the forms? I didn't get any other forms to fill out after receiving my card.

Thanks!

I am sure you would know not to only rely on a single source of funds whilst overseas. Always a back up just in case.

 

[baka]

I think they've changed the ID check thing..I remember filling it out when I applied and had to sign it at the post office.

I also got a CBA Visa card as well but preferred using the Wizard card for withdrawing cash without no fees. I guess we'll just mix it using the Wizard/CBA and savings card to withdraw cash

 

[codash1099]

A word of warning to anyone who is relying on using a Wizard card for cash advances in Canada. On the wesct coast at list, some banks (RBC, Scotia) do NOT accept a Wizard card. Some independent terminals will, bat these usually charge a fee. In fact, even and RBC terminal charged a fee when I used my NAB Gold card.

Still more evidence that you should NEVER rely on a single source for cash.

 

[aspro2]

A word of warning to anyone who is relying on using a Wizard card for cash advances in Canada. On the wesct coast at list, some banks (RBC, Scotia) do NOT accept a Wizard card. Some independent terminals will, bat these usually charge a fee. In fact, even and RBC terminal charged a fee when I used my NAB Gold card.

Do you mean a Wizard card specifically or Mastercards in general? I know I found it very, very difficult to find ATMs in Montréal which accepted Mastercards of any sort. Visa was no prob.

 

[codash1099]

Do you mean a Wizard card specifically or Mastercards in general? I know I found it very, very difficult to find ATMs in Montréal which accepted Mastercards of any sort. Visa was no prob.

Good question! Wizard is the only MasterCard I have, so I automatically assumed it was the Wizard part that was the problem. It's quite possible that it was MasterCard in general that was the problem.

I had some thoughts about GE being the difficulty given their recent financial difficulties but that may be a long bow to draw.

 

[aspro2]

Good question! Wizard is the only MasterCard I have, so I automatically assumed it was the Wizard part that was the problem. It's quite possible that it was MasterCard in general that was the problem.

I had some thoughts about GE being the difficulty given their recent financial difficulties but that may be a long bow to draw.

Unless things have changed in the last two years, I'd say it was just the MasterCard issue -- I remember checking about 15 ATMs in suburban Montréal before I found one of those expensive non-bank fee-charging machines which would actually accept a MasterCard.

 

[Tortuga]

Rather than starting a thread I will post here. I am living in Australia, but due to work will be working primarily in South America (Brazil, Argentina etc). I want to open a savings account; and get a credit card. My friend told me to get a HSBC savings account where my salary is paid into, and also get a HSBC credit card so they are linked and I can pay my credit card off easily. He also said there are heaps of HSBC ATMs in South America.

Does anyone have any advice that differs from this? I will be mainly using the savings account for cash withdrawals since its free overseas? Or should I do the trick mentioned here and transfer credit into the credit card and get low currency exchange rates and free cash withdrawals (only for Wizard I am assuming). I will be doing most of my banking online.

Thanks

 

[Chicken]

I am living in Australia, but due to work will be working primarily in South America (Brazil, Argentina etc). I want to open a savings account; and get a credit card. My friend told me to get a HSBC savings account where my salary is paid into, and also get a HSBC credit card so they are linked and I can pay my credit card off easily. He also said there are heaps of HSBC ATMs in South America.

If your employer is going to pay you in Australia, then you can open HSBC AUD or USD in Australia, and use Your Australian HSBC ATM card in HSBC ATMs in South America. This will completely bypass foreign exchange commission charged by MasterCard (because HSBC ATM cards in Australia are linked to Cirrus system).

If you want a credit card, then I think Wizard is fine. You can use Internet banking to transfer money from HSBC to Wizard MasterCard I guess.

The only thing you need to be careful, is whether the South Americans like Visa or MasterCard or both. If they don't like MasterCard (like parts of Canada and France), then the Wizard MasterCard is just a useless rubbish.

 

[mech]

- If you lose your Wizard Mastercard it wont be sent to where you are in the world ( Unlike other Banks CC's ) Its one way Wizard can offer such an advantagous card. This was a bummer for me as in Lima late one night I left my card in the ATM machine. There service here fell down a lot, as I spoke to so many people at GE money and Mastercard and got so many different answers. They will only send a replacement to where you live in Australia which of course didnt help me. As a result I had to use my Commonwealth Bank Mastercard and their fees cost me for the next 2 months!
Overall very happy with the card and definitely get one if you are heading overseas!

Just so everyone knows, this isn't true. If you lose your Wizard mastercard you can get a replacement card that works for purchases within 24 hours, and a proper replacement card within 10-12 days. My girlfriend's card was swallowed by a machine in Paris and Wizard offered to send a replacement card to Japan for us, however it would have arrived two days before we leave so it wasn't much use. Still, good to know you have the same protections as other cards, and that you can get a proper replacement sent out overseas.

 

[dclayw]

I've had the Wizard Clear Advantage card for a while now, but only used it a few times in the US/Canada and in NZ. We have a 6 week trip coming up through Thailand and Laos and plan on using it extensively. Will load the card up before we leave and use it to withdraw cash from ATMs.

I contacted Wizard today to let them know the dates we are travelling and I also wanted to clarify the fees etc. I was told that no fees whatsoever are charged on the card, not even ATM owner fees. As I've only used the card a few times at ATMs I'm not sure if this is correct or not. I knew there were no currency conversion fees and no ATM fees charged by Wizard, but I find it hard to believe they would also cover the ATM owner fees. Do they cover these fees? If they do I guess they re-imburse the fee at a later date or something.

Because of the collapse of the A$ this trip is going to cost nearly double double what we had planned, hard to believe isn't it. So I want to cut costs whereever possible. I believe ATMs in Thailand charge no ATM owner fees but in Laos it is about 3% (20,000 Kip for the max withdrawl of 700,000), so it would be nice if I could avoid that fee.

 

[serfty]

In my experience, if there is to be an addtional fee, the ATM will warn you before complting the transaction with an option to opt out.

I've encountered no issues in Thailand and have no experience in Laos.

 

[aspro2]

I contacted Wizard today to let them know the dates we are travelling and I also wanted to clarify the fees etc. I was told that no fees whatsoever are charged on the card, not even ATM owner fees. As I've only used the card a few times at ATMs I'm not sure if this is correct or not. I knew there were no currency conversion fees and no ATM fees charged by Wizard, but I find it hard to believe they would also cover the ATM owner fees. Do they cover these fees?

There are no fees associated with using the card. Full stop. An ATM owner might levy a fee directly as per info on the ATM, but Wizard does not.

 

[dclayw]

ATMs are fairly recent in Laos. I think they are all owned by the local bank, BCEL. That bank has what they call a "charging fee" for an ATM transaction and that fee works out to be about 3%. The people at Wizard told me that they wear the cost of that fee. This just doesn't seem correct to me and is why I'm looking for confirmation, particularly for Laos.

Has anyone used the Wizard Clear Advantage card in Laos. I'd like to know that it actually works in their ATMs and if that "charging fee" is actually charged and if it is, then is it reimbursed later. I know I'm being picky and difficult but as I said, the trip cost has nealry doubled and I'm trying to cut costs as much as possible.

 

[Tortuga]

If your employer is going to pay you in Australia, then you can open HSBC AUD or USD in Australia, and use Your Australian HSBC ATM card in HSBC ATMs in South America. This will completely bypass foreign exchange commission charged by MasterCard (because HSBC ATM cards in Australia are linked to Cirrus system).

If you want a credit card, then I think Wizard is fine. You can use Internet banking to transfer money from HSBC to Wizard MasterCard I guess.

The only thing you need to be careful, is whether the South Americans like Visa or MasterCard or both. If they don't like MasterCard (like parts of Canada and France), then the Wizard MasterCard is just a useless rubbish.

Hi, seems I didn't read the fine print !! I applied for the HSBC Online saver which I thought was the default account. Just read this page Best Savings Accounts. Find our best savings account | HSBC Australia and noticed this "##Only Australian Dollars may be deposited to or withdrawn from these Accounts" I'm assuming I should have applied for a different account? Also they say free transactions "HSBC and non HSBC ATM and EFTPOS (within Australia)" I thought if I was using a HSBC branch overseas it would not incur a charge, maybe not :evil::evil: I will have to cancel the account I signed up for, any other ideas of a bank account that serves my purposes stated above in my post? Thank you !! I'm trying to avoid currency exchange fees as much as possible, especially since I will be getting paid in euros into whatever bank I decide on, and I will be withdrawing cash overseas.