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.)

 

[FL360]

As a mentioned above, take a look at UBank. Int fee fee ATM withdrawals at VISA rate (no limit and also no fee on debit purchases). Identical to ING (without the monthly hoops and jumps to get the ING $5 ATM fee waived).

yes - that will be the next best available option, I already have uBank account from ages ago, luckily I have automated to send 2 cents every quarter to keep the whole account alive.

for people who wander in here and trying to pinpoint the product, it is called the uBank Spend account.

 

[SYD]

for people who wander in here and trying to pinpoint the product, it is called the uBank Spend account.

A linked “Save” account is paying 5% interest. Just need $200 into either account per month.

 

[Lat34]

A linked “Save” account is paying 5% interest. Just need $200 into either account per month.

Save/ Spend are terrific products

 

[SYD]

Save/ Spend are terrific products

I used to like the “sweep” function but now you can BPAY or Pay Anyone directly from the Save account.

Debit/ATM only work (I believe) from the Spend.

 

[Pete98765432]

I used to like the “sweep” function but now you can BPAY or Pay Anyone directly from the Save account.

Debit/ATM only work (I believe) from the Spend.

Can also have direct debits from and payments such as salary to the Save account. I have very little money in the spend account and just transfer from Save if I want to use the card.

 

[marks]

As a mentioned above, take a look at UBank. Int fee fee ATM withdrawals at VISA rate (no limit and also no fee on debit purchases). Identical to ING (without the monthly hoops and jumps to get the ING $5 ATM fee waived).

Do they cover other banks ATM fees? Or just their own?
Just had the thought of using this with the foreign citi ATMs I'm already using.

 

[oz_mark]

Do they cover other banks ATM fees? Or just their own?
Just had the thought of using this with the foreign citi ATMs I'm already using.

Not sure anyone covers other banks ATM fees,

 

[Flashback]

Not sure anyone covers other banks ATM fees,

Not in Aus, only one I know of is US based Charles Schwabb.

I'm finding more and more that banks are charging ATM fees now too in Europe whereas a year ago they were free.

 

[SYD]

Not sure anyone covers other banks ATM fees,

Yeah, after ING stopped, the only Oz based banks are Citi (for now) and technically WBC, but they sting you 3% int fee.

Fortunately Card is taking over in many places….

Cash or Card? Countries where you still need cash.

Using debit and CCs overseas (preferably ones that are international transaction fee free!) is becoming a lot easier - pushed along by you know what, but I thought a seperate thread to provide actual current experiences on the need for cash (irrespective of one’s preference for cash v card)...

www.australianfrequentflyer.com.au

 

[Flashback]

Yeah, after ING stopped, the only Oz based banks are Citi (for now) and technically WBC, but they sting you 3% int fee.

Fortunately Card is taking over in many places….

Cash or Card? Countries where you still need cash.

Using debit and CCs overseas (preferably ones that are international transaction fee free!) is becoming a lot easier - pushed along by you know what, but I thought a seperate thread to provide actual current experiences on the need for cash (irrespective of one’s preference for cash v card)...

www.australianfrequentflyer.com.au

Citi doesn't rebate other bank ATM fees that I'm aware of, they only provide free ATM tx when using their banks?

Unfortunately card for a lot of the places I've visited recently hasn't been common place and ATM fees are generally coming in around $5-10 per withdrawal.

 

[mel-world]

Not sure anyone covers other banks ATM fees,

I had two occasions (at least) in Europe this summer when Citi covered the foreign bank's ATM fee - one was 7 Euro. I'll miss that benefit that I have observed in Asia, Europe and the US.

 

[oz_mark]

I had two occasions (at least) in Europe this summer when Citi covered the foreign bank's ATM fee - one was 7 Euro. I'll miss that benefit that I have observed in Asia, Europe and the US.

I don't think Citi document that as a feature though.

 

[marks]

I don't think Citi document that as a feature though.

I didn't know this. I've been using Citi and withdrawing at Citi ATMs to avoid fees.

 

[bobbinbrisco]

I don't think Citi document that as a feature though.

Could be a reciprocal arrangement between banks

 

[moa999]

Could be a reciprocal arrangement between banks

Maybe like this one (not that Westpac has any good local fee free offerings afaik)

Global ATM Alliance - Wikipedia

en.m.wikipedia.org

 

[marks]

Maybe like this one (not that Westpac has any good local fee free offerings afaik)

Global ATM Alliance - Wikipedia

en.m.wikipedia.org

Interesting that in this alliance only WBC charge the 3% fee....

 

[wrldtrvllr]

I’ve received an email from Citibank advising that my Citibank Plus account will be transitioned to an NAB account by March 2024. They say that while some changes will be made to the account, the essential features, including fees and charges, will remain the same.




More information at:
Our move to NAB Transaction and savings accounts

Anyone receive any official documentation on the transition? I got zip besides the generic email.

I seem to have "lost" access to my deposit accounts, without any official notification no less. Didn't help when I needed to transfer money to withdraw cash on a recent overseas trip. Got suckered into ING NOT rebating ATM fees post 1/8...

 

[oz_mark]

Anyone receive any official documentation on the transition? I got zip besides the generic email.

I seem to have "lost" access to my deposit accounts, without any official notification no less. Didn't help when I needed to transfer money to withdraw cash on a recent overseas trip. Got suckered into ING NOT rebating ATM fees post 1/8...

There were some emails out this morning detailing processes and timelines.

 

[StingyGeek]

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.)

My answer would be yes.
I have just returned from Bali and successfully used my CitiPlus debit card to withdraw cash from a CIMB ATM. No ATM or Exchange rate fees were charged. The exchange rate was the MC rate.
Also got an email from Citi/NAB relating to the conversion to NAB debit card over the next few months, ending in Feb 2024. It looks like the replacement NAB account will also have no ATM or forex fee.

 

[StingyGeek]

Anyone receive any official documentation on the transition? I got zip besides the generic email.

I seem to have "lost" access to my deposit accounts, without any official notification no less. Didn't help when I needed to transfer money to withdraw cash on a recent overseas trip. Got suckered into ING NOT rebating ATM fees post 1/8...

this link provides the details: https://www.nab.com.au/content/dam/...unt-terms-and-conditions-variation-notice.pdf
Section C towards the bottom details that the new NAB card will not have forex or ATM fees.