Is Citi Plus still the best option for overseas cash?

[twiningb]

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.)

 

[Duffa]

I got myself a revolut. Realised the free card amounts were useless - $350 a month! Just like Wise.
Went back to Citi debit

Post automatically merged: Oct 13, 2023

So I have Wise set up and ING. Which one is best and why? Please Need cash and credit.

Just stick with ING. My son had a great experience and most had zero ATM fees. Something that has been creeping in with Citi unless i go to a Citibank ATM

 

[Cynicor]

I got myself a revolut. Realised the free card amounts were useless - $350 a month! Just like Wise.
Went back to Citi debit

Post automatically merged: Oct 13, 2023

Just stick with ING. My son had a great experience and most had zero ATM fees. Something that has been creeping in with Citi unless i go to a Citibank ATM

ING now no longer waive the fees, so it’s easily and demonstrably worse than the alternatives such as Bankwest, ubank, up etc unless you happen to be in vicinity of one of their own atms (which are relatively limited, but more than the other banks).
So it’s jumping the 5 transactions hoops for some free atms in a couple of countries, or 0 hassle for the other 200 countries.

For debit/cash I still use my citi and my Bankwest.

For credit I use coles and Bankwest.

 

[Flashback]

I got myself a revolut. Realised the free card amounts were useless - $350 a month! Just like Wise.
Went back to Citi debit

Post automatically merged: Oct 13, 2023

Just stick with ING. My son had a great experience and most had zero ATM fees. Something that has been creeping in with Citi unless i go to a Citibank ATM

I'd probably be looking at either uBank or Bank West. With BW you get QF points when you make the ATM withdrawals.....

 

[SYD]

ING now no longer waive the fees, so it’s easily and demonstrably worse than the alternatives such as Bankwest, ubank, up etc unless you happen to be in vicinity of one of their own atms (which are relatively limited, but more than the other banks).
So it’s jumping the 5 transactions hoops for some free atms in a couple of countries, or 0 hassle for the other 200 countries.

For debit/cash I still use my citi and my Bankwest.

For credit I use coles and Bankwest.

For those of us with an ING Savings Maximiser (and do the hoops anyway), it’s identical to UBank for OS ATM use (I have both). Definitely, anyone just interested in the ATM feature, then UBank, BW etc are the go.

 

[Flashback]

For those of us with an ING Savings Maximiser (and do the hoops anyway), it’s identical to UBank for OS ATM use (I have both). Definitely, anyone just interested in the ATM feature, then UBank, BW etc are the go.

uBank has a decent savings add-on too, only need to have $200/month go through the account too to get the increased rate.

For BW, you need to have 2k go in/out to avoid the monthly fee.

 

[SYD]

uBank has a decent savings add-on too, only need to have $200/month go through the account too to get the increased rate.

For BW, you need to have 2k go in/out to avoid the monthly fee.

Yes, I use both savings accounts. ING caps at $100k for bonus interest (5.5%). UBank still decent at 5%.

 

[Lynda2475]

Personally I think Macquarie Bank is good for an alternate debit card, no hoops (not even a minimum deposit), great interest rate on the linked savings account (which pays bonus even if there is a withdrawal), no fees (no account keeping, no overseas ATM, no foreign transaction fee). And as they are 100% online bank, no need to go to a brank to verify identity etc.

Waiting to see the full details for the citi replacement from NAB.

Looked at the BW QF earning debit card but it has hoops to avoid fees ($2k deposit per month and 10 transaction a month for 3 months to get the bonus 10k points) and a woeful interest rate 0.1% So basically get small number of points instead of interest.

 

[Cynicor]

I thought BW have a free debit account with 0 hoops but I’m not sure.

Lynda; what more details are you waiting on? They’ve told us everything and we have the T+C’s already.

 

[Lynda2475]

I thought BW have a free debit account with 0 hoops but I’m not sure.

Per Qantas Transaction Account | Earn Qantas Points | Bankwest the BW QF debit card states "We'll waive monthly maintenance fee if you deposit at least $2,000 a month." otherwise its $6/month fee.

Lynda; what more details are you waiting on? They’ve told us everything and we have the T+C’s already.

Well want to try the card out and make sure rate is not actually worse. I havent received any account details yet so cant make a small purchase to test.

 

[SYD]

Well want to try the card out and make sure rate is not actually worse. I havent received any account details yet so cant make a small purchase to test.

My existing NAB VISA Debit (Platinum) rates are identical to ING and UBank. I did a side by side comparison earlier in the year. So I’d expect the Citi replacement to be ok.

I’ve not used a NAB card in a foreign ATM for a while since they “enhanced” my Private Banking product. Fortunately UBank and/or ING are fine (apart from the local ATM fees - as applicable).

 

[Cynicor]

The Qantas account needs something but their (BW) easy transaction account is free.

And no; the rate won’t be different. That’s the whole point of 0fx fee…

 

[Duffa]

Personally I think Macquarie Bank is good for an alternate debit card.......no overseas ATM...

Sorry, Lynda
Macq most definitely do have an ATM fee.

And this was at a major French bank, not a 7/11

 

[Flashback]

Sorry, Lynda
Macq most definitely do have an ATM fee.
View attachment 349968
And this was at a major French bank, not a 7/11

Did you receive a notification on the ATM screen that a fee would apply? If not, then it's definitely Macquarie charging, rather than the ATM / bank. What does the withdrawal slip show?

 

[Duffa]

Did you receive a notification on the ATM screen that a fee would apply? If not, then it's definitely Macquarie charging, rather than the ATM / bank. What does the withdrawal slip show?

I got a warning on the ATM.
Credit agricole.
I just thought, uck it, I need cash.
But that isn't "no ATM fee" then, is it?

 

[Cynicor]

I got a warning on the ATM.
Credit agricole.
I just thought, uck it, I need cash.
But that isn't "no ATM fee" then, is it?

It’s no overseas atm fee.
But overseas atms can charge their own fees. They are different things.

For that second one to be free you need a bank to have an overseas atm network
OR rebate overseas atm owner fees. Which doesn’t exist in the Aussie market

If a bank charged an overseas atm fee you’d see an additional $5 (most common) on TOP of those fees.
Plus they would add 3% commission to the fx charge…

 

[Duffa]

So, in the olden days, when i got a $2 ATM fee at the CBA machine with my ANZ card. Was that an ATM fee or an ATM fee?
Who was charging me to get my money out?
ANZ for the cost of sending my $300 to CBA. Or CBA for using their machine as a non-customer?

 

[Flashback]

I got a warning on the ATM.
Credit agricole.
I just thought, uck it, I need cash.
But that isn't "no ATM fee" then, is it?

As Cynicor asked, 2 completely different things, which is why I asked.

There are definitely banks in France that don't change an ATM fee, I took some cash out recently.

 

[Duffa]

As Cynicor asked, 2 completely different things, which is why I asked.

There are definitely banks in France that don't change an ATM fee, I took some cash out recently.

So, I've got to stick my card in and out of various ATMs until I find one that won't charge me??? Yeah, right!!
Walking around Paris with Mrs D in tow....
Braver people have attempted less.

 

[SYD]

If a bank charged an overseas atm fee you’d see an additional $5 (most common) on TOP of those fees.
Plus they would add 3% commission to the fx charge…

Not all cards charge 3%. Citi, ING etc

 

[Cynicor]

Not all cards charge 3%. Citi, ING etc

Yes, that’s entirely my point. But ING shouldn’t be in your list anymore, needing to do the transactions is a hassle..But all those who do usually slug you an overseas atm fee on top.
I’m not aware of any bank that has only 1 of those (I.e. overseas atm fee but no FX fee or vice versa)