Bank West $0 Foreign Currency 'Fee'

[madrooster]

Interesting. I thought the Bankwest card offered pretty much market rates, just like the 28 Degrees card. If it doesn't, I'm dumping it immediately.

I have a US merchant facility and to test this precise scenario, I charged $10 USD to a friend's 28 degrees card, and then right after that charged $10 USD to my own Bankwest card. Both transactions were then refunded. After doing this I settled the batch - this means both the charge and refund will settle with 28d/BW at the same time and thus be a net gain/loss of 0 at both cards.

These transactions both appeared to take the same amount off the available balance at the time of transaction, and then 2 days later settled with exactly the same amount in AUD on both cards. Both transactions settled on the same day.

There was some variance between the amount authed off the available balance and what the final settled amount was, but that's completely normal as the fx rate on the date of settlement is the rate used, not the rate at the time of transaction.

 

[get me outta here]

Thanks for that very useful info.

I have a US merchant facility and to test this precise scenario, I charged $10 USD to a friend's 28 degrees card, and then right after that charged $10 USD to my own Bankwest card. Both transactions were then refunded. After doing this I settled the batch - this means both the charge and refund will settle with 28d/BW at the same time and thus be a net gain/loss of 0 at both cards.

These transactions both appeared to take the same amount off the available balance at the time of transaction, and then 2 days later settled with exactly the same amount in AUD on both cards. Both transactions settled on the same day.

There was some variance between the amount authed off the available balance and what the final settled amount was, but that's completely normal as the fx rate on the date of settlement is the rate used, not the rate at the time of transaction.

 

[greenfrog86]

I am new the the BW card, what has been the experience with ATM withdrawal 'costs'?

I'm not sure anyone here would be using a BW credit card in an ATM... Most people here will have the Citibank Plus account for withdrawing cash and only use the BW cards for purchases.
Someone may have tried it however and can give you an answer, but I wouldn't think its common