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.)

 

[Duffa]

My NAB Visa debit arrived as a replacement for the Citi debit.
3% overseas fee per transaction....
Scissors deployed and card fragments in the bin already

 

[Jacques Vert]

But the T&Cs state that the fee is waived for ex CitiPlus accounts:

International Transaction FeeInternational transactions refer to using your card overseas including overseas ATM cash withdrawals or, usingyour account in Australia but the goods or service provider (commonly referred to as a ‘merchant’), financial institution or entity processing the transaction is located outside Australia. International transactions are either:• Single-currency international transaction: where the transaction is made in Australian dollars (AUD)• Multi-currency international transaction: where the transaction is made in a currency other than Australian dollars (AUD)
Fee Waived

 

[SYD]

3% overseas fee per transaction....

Where did you see that?

As per previous comment(s), international fees are waived for this card.

 

[serfty]

3% overseas fee per transaction....

This is incorrect, see here:

NAB Waives Fees for "Grandfathered" ex Citi Accounts.

From what I can see, conversions will be done using the Visa rate.

www.australianfrequentflyer.com.au

and

NAB are not only keeping the Citibank Plus T&Cs as is, they're improving on the Citibank Online Saver. The Citibank debit Mastercard will be replaced with a NAB Visa debit card attached to a Classic account with no foreign transaction fees or overseas ATM charges. The Online Saver will be replaced with a special version of the Reward Saver which, as of writing, will pay 4.35% base interest with a 1% bonus if you make no withdrawals and one deposit by the second last business day of the month! These products are not for sale and only apply to existing Citibank customers.

 

[QF_Flyer]

My NAB Visa debit arrived as a replacement for the Citi debit.
3% overseas fee per transaction....
Scissors deployed and card fragments in the bin already

That was a mistake, call NAB up for a replacement, we've got some grandfathered terms which make it a good account to keep, especially as it's not available to apply for.

 

[QF_Flyer]

So you proceeded without the conversion? Why would anyone accept "with"?

Some of the ATMs particularly word it in such a way that they try to baffle you into accepting, making it appear as though it's a good deal; even people who know to reject, we'd have to read what we're pressing, to make sure you're rejecting DCC.

Wording can also vary "press to accept conversion, press to proceed without conversion, press to proceed with local currency, press to reject currency conversion (along with wording which looks like a warning, like "if you proceed your bank will decide what to charge you").

It's sneaky as and should be banned, Amex is a good way around it (they don't allow DCC), but that's only good for purchases (and unless you have an Amex with no forex fees, there's that to consider, if using your Visa/MC is forex fee free).

 

[moa999]

sneaky as and should be banned

Absolutely.. but I think most know about it these days.

Worst I've seen was at a hotel in China where it was close to an 11% uplift.

 

[SYD]

RE: DCC, ironically(?) I find it crops up more on MC (eg old Citi and my 28°) than VISA. So the new card *might* be less susceptible?

 

[Duffa]

Where did you see that?

As per previous comment(s), international fees are waived for this card.

On the NAB website.
Direct link from their email.
I still think I will wait until someone else has tried the card overseas! It might still be the Citi backroom team running the new card!
In any case, Mrs D cleaned out the Citi card last week, Christmas shopping in Milano.
Only $47 left on it.

Oh, and I have seen no sign of the reward saver account at 5.35% yet

 

[serfty]

On the NAB website.

It is maybe not fully disclosed unless you have the specific links sent in emails. (It had me thinking 3% for a short time until I looked closer [scrolled down a bit]).

Check the "Grandfathered" thread linked earlier.

 

[SYD]

On the NAB website.
Direct link from their email.
I still think I will wait until someone else has tried the card overseas! It might still be the Citi backroom team running the new card!

Mentioned here in one of the other threads that the new NAB issued card is working fine OS (as a debit card). I’ve not seen anyone mention of use in an ATM yet.
Post in thread 'NAB acquires Citibank Aus'
NAB acquires Citibank Aus

Oh, and I have seen no sign of the reward saver account at 5.35% yet

Yeah, I was curious about that. Was there a link to some info?

 

[oz_mark]

Mentioned here in one of the other threads that the new NAB issued card is working fine OS (as a debit card). I’ve not seen anyone mention of use in an ATM yet.
Post in thread 'NAB acquires Citibank Aus'
NAB acquires Citibank Aus

Yeah, I was curious about that. Was there a link to some info?

There are variation notices for accounts migrating from Citibank. For Reward Saver Your NAB Reward Saver account fees, interest and information

 

[oz_mark]

It is maybe not fully dislosed unless you have the specific links sent in emails. (It had me thinking 3% for a short time until I looked closer [scrolled down a bit]).

Check the "Grandfathered" thread linked earlier.

The variaton notices are on the NAB website. For Citi Plus Your NAB Classic Banking account fees, interest and information

 

[SYD]

There are variation notices for accounts migrating from Citibank. For Reward Saver Your NAB Reward Saver account fees, interest and information

I’d forgotten about those NAB products. The “No withdrawal” was the turn off. UBank Saver much easier.

 

[pedant]

One of the other advantages of Citibank Plus was that you could do fee-free ATM withdrawals at oveseas Citi ATMs. While NAB might not charge you for foreign withdrawals on the Citibank Plus successor card, the overseas ATM operator is likely to do so.

What are the alternatives? Are their other 'global' banks with Australian subsidiaries and ATMs in other markets that don't charge you 3% for forex conversion and don't charge you ATM fees? HSBC or ING?

 

[SYD]

One of the other advantages of Citibank Plus was that you could do fee-free ATM withdrawals at oveseas Citi ATMs. While NAB might not charge you for foreign withdrawals on the Citibank Plus successor card, the overseas ATM operator is likely to do so.

What are the alternatives? Are their other 'global' banks with Australian subsidiaries and ATMs in other markets that don't charge you 3% for forex conversion and don't charge you ATM fees? HSBC or ING?

ING operates similar to the new NAB card (no Int conversion fee nor ING imposed OS ATM fee - IF you meet the monthly hurdles of 5x transactions and deposit $1k in the proceeding month. But if the OS ATM charges a service fee, you will longer be rebated. There does appear to be some ING ATMs around the world that you might be able to use fee free.

AFAIK, Westpac is the only major Oz bank that’s part of a worldwide network BUT they still charge 3% fee but no ATM fee….

BTW, I‘m not aware of anyone trying their new NAB issued card in a Citi ATM yet.

 

[Lynda2475]

Used my CitiPlus card for the last tme to pay for a taxi in NZ last friday. Just cut it up

Didnt bother to take the new NAB card, as I had Macquarie and BankWest fee free cards as back ups; and no cash needed in NZ at all.

 

[Stealthflyer]

Used my CitiPlus card for the last tme to pay for a taxi in NZ last friday. Just cut it up

Didnt bother to take the new NAB card, as I had Macquarie and BankWest fee free cards as back ups; and no cash needed in NZ at all.

I’m taking my Citibank card on its last OS trip next week. I haven’t found an alternative. NAB sent me a new NAB branded “replacement” card in the mail without prompting. I haven’t taken the time to read the account conditions yet, so I’m not sure if I want to keep it. However, my everyday account is terrible for travel fees, so I need some alternative.

 

[Flashback]

I’m taking my Citibank card on its last OS trip next week. I haven’t found an alternative. NAB sent me a new NAB branded “replacement” card in the mail without prompting. I haven’t taken the time to read the account conditions yet, so I’m not sure if I want to keep it. However, my everyday account is terrible for travel fees, so I need some alternative.

This is a like for like replacement, other than not being able to use Citibank ATMs fee free.

 

[pedant]

BTW, I‘m not aware of anyone trying their new NAB issued card in a Citi ATM yet.

Citi has sold many of its other offshore books to other banks (e.g., Malaysia, Thailand and Vietnam), so there are fewer Citi oveseas ATMs anyway.