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.)

 

[oz_mark]

Just wondering if anyone has moved to either Macquarie Bank or to Bankwest and has used the account at foreign ATMs or funds transfers in foreign businesses.

I'd be interested to hear of your experiences with exchange rates and customer service from either of those two banks.

Also I'd like to hear if you have decided continue with NAB and have used the card overseas.

The exchange rate has always been pretty much the rate quoted by Visa or Mastercard (as the case may be).

Customer service - never had issues, but then I've only ever had to call them about replacement cards not turning up. I've often wondered why people constantly need to call the bank for these types of accounts....

 

[Happy Dude]

If the product says there are no overseas transaction fees, then there isnt any. Its that simple. I have used Citi, NAB, MQ, ING, Wise and something else. There was nothing special or different about any of them. (of course ING is now a dud)

there is no customer service needed for a simple bank account. They are all free bank accounts, get them all, costs you nothing and if you dont like the colour, chuck it out.

Hey @theblank can I ask why you say this? My understanding is that it's now the same "the others", excepting the need to jump through some hoops, which is also required by some others (eg Bankwest). Perhaps a dud relative to what it used to be? Asking because I intend on using it going forward so I want to be sure I haven't missed anything.

 

[SYD]

Hey @theblank can I ask why you say this? My understanding is that it's now the same "the others", excepting the need to jump through some hoops, which is also required by some others (eg Bankwest). Perhaps a dud relative to what it used to be? Asking because I intend on using it going forward so I want to be sure I haven't missed anything.

Yep, ING Savings Maximiser interest rate is still best in class. You need the same hoops and jumps (plus a specific Savings Max hoop) to get the bonus interest. No biggy.

The ING DC still works the same for purchases and ATM withdrawals OS. There is a limit of 5x ATM withdrawals per month to get the OS withdrawal fee rebate. There’s no limit on debit purchases per month.

 

[Zinger]

The exchange rate has always been pretty much the rate quoted by Visa or Mastercard (as the case may be).

Customer service - never had issues, but then I've only ever had to call them about replacement cards not turning up. I've often wondered why people constantly need to call the bank for these types of accounts....

The reason I asked about customer service is on the occasions I had to contact Citi due to a card they had suspended due to lack of use for a time due to Covid, it was like dealing with a brick wall only less helpful. Possibly the worst customer service I've experienced with any bank.

I'm no fan of NAB so have moved my money out of the Citi account and set up a new account with Macquarie.

 

[Thibault]

Yep, ING Savings Maximiser interest rate is still best in class. You need the same hoops and jumps (plus a specific Savings Max hoop) to get the bonus interest. No biggy.

Me Bank is also a good competitor - deposit 2k in the cheque account/month and ensure saving balance is higher than last month to get 5.55%.
Also, their card is fee-free overseas for card purchases (Visa Card) and cash withdrawals - which I find is a plus compared to BOQ.

If unable, BOQ is pretty good too at 5.40% with 1k deposit/month in the cheque account and 5 transactions (card, BBAY of $0.01 x 5 or beem it).

Macquarie is my main overseas debit card.

 

[SYD]

The auto transfer of funds and transactions from Citi to new NAB account happened o/n (well over lunch for me).

I parked some money in Citi for use in Sth America. With the deadline approaching, I started using it to pay for meals etc (in lieu of 28° MC). Those transactions and remaining balance has transferred over correctly in the last hour or so.

Last time I checked, I was unable to get back into Citi via the app - so I’m not sure if that is totally dead to me?

Now, as an aside. I noticed in the NAB app, there is zero mention of no international tx fee on the new card. I have an existing NAB Platinum Debit that is fee free (although I hardly use it) but the app shows it here.


Whereas the new NAB/Citi card just has…

 

[SYD]

Oh, and a closing eStatement has just arrived. Thus ends my relatively brief Citi card experience.

Meanwhile, UBank and ING debit cards still working just fine…

 

[HappyFlyerFamily]

I had a pending transaction that normally takes a week to settle that the pending amount was noted on the new NAB account.

 

[Black Duck]

Ours went over smoothly on 24th. We only left a little there to check it all finished up properly

 

[Flashback]

Only my credit card showing in the app now. Got the email an hour ago advising... but no closing statement yet.

 

[MELso]

Plus account has gone now, and home loan has also moved across. Have killed off the direct debit Citi insisted on for my home loan, and will now have my salary direct deposited into my home loan.

Final statement for my Citi home loan is coming on 28 February apparently, while my Citi Plus final statement just arrived.

 

[bernardblack]

My access to Citi online/app seems to have been disabled. The balance successfully moved to the successor NAB account.

Weirdly I received a Citi statement a few hours ago, still showing the closing balance before they moved it to NAB.

 

[SYD]

My access to Citi online/app seems to have been disabled. The balance successfully moved to the successor NAB account.

Weirdly I received a Citi statement a few hours ago, still showing the closing balance before they moved it to NAB.

Yes, mine also but I was happy that that amount was credited to the Nab account. No idea if we get a zero balance statement in due course…,

 

[SeaWolf]

Got my last Citibank statement as well, balance already at zero for the last month, so NAB have nothing to transfer and I've not activated the card or online banking with NAB as I haven't got any interest in the account. If they'd bothered to ask I would have just told them not to set up the NAB account in the first place.

 

[Zinger]

Got my last Citibank statement as well, balance already at zero for the last month, so NAB have nothing to transfer and I've not activated the card or online banking with NAB as I haven't got any interest in the account. If they'd bothered to ask I would have just told them not to set up the NAB account in the first place.

Exactly the same as me.

I cleaned out my Citi account and have not interacted with NAB and their emails at all.

If I wanted to bank with NAB I am quite capable of setting up an account with them myself. I didn’t and I won’t.

 

[RooFlyer]

Got my last Citibank statement as well, balance already at zero for the last month, so NAB have nothing to transfer and I've not activated the card or online banking with NAB as I haven't got any interest in the account. If they'd bothered to ask I would have just told them not to set up the NAB account in the first place.

My balance at a dollar or so. My new NAB debit card has a different NAB ID than my existing CC so in effect I'd be operating two parallel NAB accounts and internet banking log ons. Called about it when the card first arrived - told I could either use the debit card with separate log-in, or wait for more complete 'data matching' between Citi and NAB at 'some time'

Same answer recently. So it'll remain unused for a while longer (if at all).

 

[Rich]

If they'd bothered to ask I would have just told them not to set up the NAB account in the first place.

Not worth their effort. Cheaper to (leave customers to) deal with a handful of unwanted $0.00 balance account than build a bunch of rules and processes around some zero value customers. I would have closed the Citi account before D-Day in your position.

 

[Cynicor]

I seen no reason anyone would close this card, except "cutting their nose to spite their face". You may as wellleave it open with 0 balance and keep a card you cannot obtain any other way, ever agin (in the forseeable).

 

[Tiki]

My Nab debit card has ridiculous fees so this time I am loading travel cash on my Wise card, supposed to keep fees down.

 

[Cynicor]

My Nab debit card has ridiculous fees so this time I am loading travel cash on my Wise card, supposed to keep fees down.

If your nab debit was from the citi changeover it is ~ equal to wise for the first $350 and significantly better after that.
Otherwise yes, the typical NAB card sucks.