Ozbargainers, I require your advice on getting cash 💰 out in New Zealand.
I am going on vacation and plan on withdrawing $200 from my Citibank plus account to cover purchases in stores that don't accept visa.
I know I can use any Westpac ATM in Australia for free, and thinking Westpac NZ branded ATM 🏧 is my best bet to try and avoid a fee when withdrawing money 💵 in NZ.
Anyone have any tips on avoiding withdrawal fees in NZ with a Citibank plus visa debit?
You will be charged a few $ for the transaction, but as long as you select credit when withdrawing money you will get pretty much the spot rate on xe.com
What if I select debit?
If you select debit then you still get charged the fee (IIRC) and you will get the Citibank rate (which is lower than the visa rate).
Cheers, do I select credit when using the card for purchases as well?
i currently live in NZ and use the citibank plus card most of the time, withdrawals are free from westpac. I also think it was free from ASB & BNZ, but definately had to pay through ANZ. Just stick to westpac and you will be fine.
Thanks so much for that info! Much appreciated.
Confirming what cjm_007 said, i also tested this 6 months ago while in NZ, westpac atm charged no fees - they're owned by westpac australia
Okay awesome.
From recent trips, I can confirm ASB and BNZ are also free.
Also, fwiw, in New Zealand it seems to be really common to pay for everything (even as cheap as a coffee) with eftpos.
Cheers!
it seems to be really common to pay for everything (even as cheap as a coffee) with eftpos.
As it should be. I hate when a retailer gives you that guilty face when you want to use card for a small purchase, or slap on a 50c surcharge on a $10 purchase.
Seriously, the most it will cost them is in the order of 1-2%.. and that is generous. On a $4 coffee that is 8 cents MAX. If they can't absorb that cost they are doing things very wrong.. especially when you consider the cost of managing cash is much higher (in the order of 5%, lots of factors though).
Don't even get me started on cash only businesses.
edit: holy shit this is an old thread.. someone must have bumped it. Not sure why I can still reply to something this old…
💰🏧💵
… felt I was missing out
Just to close this thread out for future readers, I can confirm that I wasn't charged an ATM or forex fee using my Citibank plus debit card at a Westpac ATM in NZ.
Very good to know. Thanks guys.
I'm traveling to NZ next month and had the same question as well! Great to know- will withdraw some cash at Westpac ATMs with my Citibank card :)
How is the transaction processed if you tap your card in at a shop?
I called Citibank. In New Zealand all transactions (EFTPOS and ATM) go through Visa so the Visa exchange rate applies.
I have used it in Hotels in Thailand (not tap n go though). They sometimes ask me what currency I want it processed in. If I say THai BaHT, then all is sweet, and Citibank does the currency conversion. If I say Australian Dollars, then the Hotel's machine applies their own exchange rate (which will be a lot worse) and then process it in that resulting Australian amount. A BIG TRAP!!
Thanks for all this info! I'm going to NZ next week, so nice to have all this info :)
Enjoy your trip :)) Please let us know how you go with ATM's etc
Sure!
turned out I brought enough cash, so I didn't use the ATM. But there was no issue when using my card to pay both as saving or credit card.
Thanks for the info.
Didn't withdraw money from an ATM but as of Jan 2017, citibank plus was still fee free for purchases and the exchange rate for NZ was fantastic. Better than the cash rate at my fave fx place (kvb kun) A+++
Can anyone on here still confirm which banks charge no fees for cash withdrawals using the Citibank plus transaction account?
Did u find out…? im going there on Sat…thanks!!!
Hey mate, i used it in December last year and only tried it with one bank which was ASB, no charges there. Can't comment on other banks though.
Just to update. Just returned from NZ. ASB charges $3 fee. Only fee free ATMs for Citibank I found were Kiwibank.
From the top of my head (could be wrong) you will be charged an ATM fee (small). Conversion rates are as per VISA rates. No fees apply other than the ATM fees.