Is Citi Plus still the best option for overseas cash?

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bernardblack

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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.)
 
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Chicken said:
No, and not worth the trouble as well. Visa and Mastercard rates are already excellent, and using a normal bank ATM card like ex Citi means you basically don't need to apply manage etc.

HSBC and those like Wise are only worth it if you have large amount of foreign currencies and you actively manage your foreign exchange risks.
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What's so troublesome about them?
 
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Ansett Nostalgic said:
What's so troublesome about them?
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They ask a lot more questions, and generally more troublesome to log in, possibly because their primary business is cross border remittance, much higher risk (fraud, crime, politically exposed people, involved with multiple jurisdictions, etc). They ask questions (KYC?) a lot more often. From my experience with Wise and CurrencyFair and OFX. Or maybe I'm considered a politically exposed person? 😏
 
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Chicken said:
They ask a lot more questions, and generally more troublesome to log in, possibly because their primary business is cross border remittance, much higher risk (fraud, crime, politically exposed people, involved with multiple jurisdictions, etc). They ask questions (KYC?) a lot more often. From my experience with Wise and CurrencyFair and OFX. Or maybe I'm considered a politically exposed person? 😏
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Must admit I've never used my Transferwise/Wise account for ATM withdrawals, but I have transferred large sums of money overseas using their service with zero issues (I would have had no issues with a KYC, as it was due to a house sale, but they never asked). In the early days TfWise could be loaded with a credit card as a purchase, which made a tidy amount of points alongside the interest earned by keeping the cash for 55 days or whatever (it can still be loaded via CC, but will be treated as a cash advance, almost guaranteed).

I also have HSBC Premier accounts in Australia (Premier qualified) and the UK (Premier overseas qualified), but don't use them to transfer between currencies (because of the relatively coughpy exchange rates). HSBC probably have enough info on me from both ends of the planet to know my identify though, to be fair.
 
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UK. £2.95 ATM fee
Spain €7 ATM fee
DCC fee of 12.8% in UK
Bottom line, it is difficult to find an ATM fee-free.
Do NOT EVER accept the offer to convert to AUD.
I try to make only one withdrawal per country and pay by card where accepted.
Have been to a few cash only places. Pubs in Ireland frequently cash only.
 
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Duffa said:
UK. £2.95 ATM f
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You lucked out there. Most ATMs in the UK are fee free.
Duffa said:
Spain €7 ATM fee
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Yep…😳
Duffa said:
DCC fee of 12.8% in UK
Bottom line, it is difficult to find an ATM fee-free.
Do NOT EVER accept the offer to convert to AUD.
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Yep…😳😳
Duffa said:
I try to make only one withdrawal per country and pay by card where accepted.
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I try to avoid making withdrawals unless absolutely necessary - unfortunately there are still places that want cash - sometimes when
You least expect spect it…😳😳😳
Duffa said:
Have been to a few cash only places. Pubs in Ireland frequently cash only.
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even in New York City… 😳😳😳😳
 
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Chicken said:
This does not sound right at all.
I don't remember paying in Spain? And UK? No way. You go to any bank ATM (HSBC, Santander, etc) and they are all free.
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Spain, definitely.

UK - only if you use a non-bank ATM, e.g., Euronet or similar. Usually standalone and usually in random places, off licence shops etc.
 
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Chicken said:
This does not sound right at all.
I don't remember paying in Spain? And UK? No way. You go to any bank ATM (HSBC, Santander, etc) and they are all free.
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Spain.
I tried 3 separate bank ATMs in Cadiz last week.
All wanted 7 euros so I gave up and paid the money at the last one.
Meanwhile, my brother, who lives in Spain now, had his "I told you so..." face on.
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Flashback said:
Spain, definitely.

UK - only if you use a non-bank ATM, e.g., Euronet or similar. Usually standalone and usually in random places, off licence shops etc.
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I will now drag Mrs D to the CBD of our current UK city and test all the major bank machines.
 
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Duffa said:
Spain.
I tried 3 separate bank ATMs in Cadiz last week.
All wanted 7 euros so I gave up and paid the money at the last one.
Meanwhile, my brother, who lives in Spain now, had his "I told you so..." face on.
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I will now drag Mrs D to the CBD of our current UK city and test all the major bank machines.
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I hope you've got your brolly!
 
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Flashback said:
I hope you've got your brolly!
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Been to the High Street to check. Major banks are indeed fee free. Did a withdrawal and got close to spot rate (0.4%) and no ATM fee.
My mistake.
However the other ATM which charged me $5.95 says "Run by Danske Bank " and it was in a shopping centre just like home. I thought it was the same as an ANZ or NAB... Closer inspection reveals the dreaded Euronet logo. Dirty Bustards.
Lesson. Go to a real bank branch. Should not be too hard to find.
 
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Duffa said:
Been to the High Street to check. Major banks are indeed fee free. Did a withdrawal and got close to spot rate (0.4%) and no ATM fee.
My mistake.
However the other ATM which charged me $5.95 says "Run by Danske Bank " and it was in a shopping centre just like home. I thought it was the same as an ANZ or NAB... Closer inspection reveals the dreaded Euronet logo. Dirty Bustards.
Lesson. Go to a real bank branch. Should not be too hard to find.
Click to expand...
Basically just avoid Euronet (and similar). Doesn't need to be attached to a bank. ATM's at Tesco, Sainsbury's etc. will be fee free also. In the UK, you'll get a warning anyway so you can cancel before going through with it.
 
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Chicken said:
UK? No way. You go to any bank ATM (HSBC, Santander, etc) and they are all free.
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I echo this, almost all bank ATMs charge no fees for either their own or other customers. The only chargeable ones are those operated by independents like Moneybox or whatnot, usually in pubs, casinos, convenience stores, etc., but they will give you a warning prior of course. The UK is one country where it is not at all difficult to find a free ATM in any moderately sized town or larger (or even most smaller towns or villages with a Post Office/Supermarket - Tesco will usually have free ATMs, for example).
 
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Duffa said:
Meanwhile, my brother, who lives in Spain now, had his "I told you so..." face on.
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I believe in Spain the banks even charge their own customers for ATM withdrawals done at the bank's own ATMs.

ATM usage fees - Wikipedia

en.wikipedia.org en.wikipedia.org
A card issued by a Spanish bank will normally expect to incur a fee up to €1 on each ATM withdrawal, where the transaction is conducted on an ATM operated and owned by the customer's own bank.
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Give Unicaja Banco a try (I've heard they're free) and Abanca is supposedly much cheaper as well.
 
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In Germany last year I never paid a fee on withdrawing from Deutsche Bank ATM's. I had to make one withdrawal in Salzburg and got hit with something like a €5 fee.
 
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