Is Citi Plus still the best option for overseas cash?

[bernardblack]

Is Citi Plus still the best option for overseas cash? Obviously I haven't done a lot of international travel since 2019.

If I have to open some other account it might be time to get started, since we depart in five weeks.

(I'm set for FX-fee-free purchases, with a US Amex Gold backed with a Coles Rewards Mastercard and a Bundll account which charges to my Dragon Visa.)

 

[MELso]

According to the recent NAB investor presentation, everything will be NABbed by the end of the year, except for unsecured lending (credit cards, ready credit, personal loans) which will be transitioned by the end of 2024.

 

[SYD]

According to the recent NAB investor presentation, everything will be NABbed by the end of the year, except for unsecured lending (credit cards, ready credit, personal loans) which will be transitioned by the end of 2024.

Online, everything says that it’s technically NAB now.

The question is when will the global Citi connection get severed?

 

[MELso]

Online, everything says that it’s technically NAB now.

The question is when will the global Citi connection get severed?

End of this year for the transaction accounts at the latest, if NAB sticks to their planned schedule.

 

[SYD]

End of this year for the transaction accounts at the latest, if NAB sticks to their planned schedule.

Hopefully they don’t stick to schedule for those who rely on their Citi card.

As an existing NAB Private Banking customers, we used to have free OS ATM access for years but late last year we received a rather confusing letter implying that benefit had been enhanced depending on package type. Although we do have “Platinum Debit” cards that work the same as Citi, UBank, ING etc for fee free purchases.

So if NAB convert Citi accounts to vanilla NAB accounts, expect to pay $5 for OS ATM use plus 3% int tx fee on cash withdrawals.

 

[Lynda2475]

Back in 2013 I applied for a NAB credit card that had no overseas ATM fees and put it into credit (so no cash advance charges), and it worked perfectly for fee free cash withdrawals, then a few months after returning they took away at ATM benefit so I closed the card.

Whilst Citi-Plus is citi branded and fee free at citibank ATMs it is valuable, less so when NAB make it NAB branded.

 

[SYD]

Back in 2013 I applied for a NAB credit card that had no overseas ATM fees and put it into credit (so no cash advance charges), and it worked perfectly for fee free cash withdrawals, then a few months after returning they took away at ATM benefit so I closed the card.

Whilst Citi-Plus is citi branded and fee free at citibank ATMs it is valuable, less so when NAB make it NAB branded.

If you’re lucky, it might morph into the NAB Platinum Debit card. Which is still useful for fee free OS purchases. For anyone that doesn’t already have that benefit on another product(s).

The Citi website is giving nothing away on the mapping of the replacement product at the moment.

 

[slowbro]

If you’re lucky, it might morph into the NAB Platinum Debit card.

But with NAB Platinum Debit Card you would need either pay $10 monthly or spend $1k monthly

 

[SYD]

But with NAB Platinum Debit Card you would need either pay $10 monthly or spend $1k monthly

Ah, mine’s included free as part of my Private Banking package (along with a VISA Signature CC).

 

[stm1sydney]

If you’re lucky, it might morph into the NAB Platinum Debit card. Which is still useful for fee free OS purchases.

But can that be used for ATM withdrawals? I already have my 28 Degrees c/c for fee-free purchases.

 

[SYD]

But can that be used for ATM withdrawals? I already have my 28 Degrees c/c for fee-free purchases.

Yes, but potentially subject to $5 OS ATM fee and 3% Int tx fee. So, obviously not great if it converts to a standard NAB account.

 

[Flyfrequently]

Anyone know how Portugal sits in the ATM fee roulette?

@SYD I believe Multibanco ATM'S do not charge but you need to "decline conversion fee" twice.
Heading there in September, any updates appreciated.

 

[FL360]

I have been using Citi Plus to take HKD in HK in Jan and April 2023, about a 3 to 15 bps forex spread, so almost nothing.

we are enjoying it while we can, with the BW zero as backup and fewer and fewer places requiring cash I think this problem will kind of go away.

Next month it will be New Caledonia, and then UK / Europe and the USA, will report afterwards.

 

[Lynda2475]

New Caledonia

I was there in April arrived with no cash, had no need to use cash anywhere while I was there. Everywhere took card; was great as no guessing how much cash to take out.

 

[FL360]

I was there in April arrived with no cash, had no need to use cash anywhere while I was there. Everywhere took card; was great as no guessing how much cash to take out.

Thanks for the heads up!

Too bad for the swimming ban.....

 

[Flyfrequently]

Next month it will be New Caledonia, and then UK / Europe and the USA, will report afterwards.

@FL360 we took a small amount of XPF from Melbourne Currency Exchange (50 AUD from memory)
We used it for local buses and a taxi from Anse Vate to the town - and 2 eclairs from a local patisserie!
Otherwise card for everything else.
Enjoy

 

[FL360]

@FL360 we took a small amount of XPF from Melbourne Currency Exchange (50 AUD from memory)
We used it for local buses and a taxi from Anse Vate to the town - and 2 eclairs from a local patisserie!
Otherwise card for everything else.
Enjoy

Thanks for the tip.
We are only staying at the overwater bungalow 95% of the time, the bus is already booked to/ from the airport to the port.

Have a few hours in the town and see if we can visit the markets!

 

[Lynda2475]

In town all the shops take cards, the only place i saw anywhere requesting cash was the snorkel hire on Amadee island and it was closed (but the cafe/souvenir shop did take cards). Everywhere in Noumea itself - restaurants, cafes, tourist attractions all took card. I didn't even see any locals using cash.

We landed with no cash and left without having withdrawn any cash, it simply wasn't needed at all in New Caledonia even to buy a croissant from a patisserie.

 

[FL360]

In town all the shops take cards, the only place i saw anywhere requesting cash was the snorkel hire on Amadee island and it was closed (but the cafe/souvenir shop did take cards). Everywhere in Noumea itself - restaurants, cafes, tourist attractions all took card. I didn't even see any locals using cash.

We landed with no cash and left without having withdrawn any cash, it simply wasn't needed at all in New Caledonia even to buy a croissant from a patisserie.

thanks for the tip!

 

[Flyfrequently]

In town all the shops take cards, the only place i saw anywhere requesting cash was the snorkel hire on Amadee island and it was closed (but the cafe/souvenir shop did take cards). Everywhere in Noumea itself - restaurants, cafes, tourist attractions all took card. I didn't even see any locals using cash.

We landed with no cash and left without having withdrawn any cash, it simply wasn't needed at all in New Caledonia even to buy a croissant from a patisserie.

We went pre covid, great that things are all cashless now.

 

[Pushka]

NAB left us completely stranded in Italy when without advice they changed international access to our debit card. And lodged a complaint with Ombudsman who agreed and fined NAB and gave us compensation. We've currently been using ING and all the debit fees have been repaid as well.