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No International Transaction Fees with Coles Reloadable MasterCard (One off $10 Card Fee Applies)

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No International Transaction Fees with Coles Reloadable MasterCard (One off $10 Card Fee Applies)
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dextertheboygenius on 15/06/2016 - 18:36 financialservices.coles.com.au (2234 clicks)
Last edited 29/06/2016 - 15:31 by 2 other users

Pack a Coles Reloadable MasterCard and we'll waive the currency conversion fee until 31 December 2016 yes, this means you'll pay less to spend overseas!

Plus, travel with a Coles Reloadable MasterCard and:

  • Collect 1 flybuys point for every $1 you spend overseas+
  • It's free to reload, no monthly fees, and you can keep using it at home
  • It's easy to buy and top up, again and again
  • Use anywhere MasterCard is accepted - that's over 38 million locations worldwide.~

You also get the security of a MasterCard with 24 hour, worldwide protection and a fraud monitoring system which identifies unusual activity on your prepaid card and sends you an alert.

A one-off card purchase fee of $10 applies. Removal of international currency conversion fees applies until 31 December 2016 and applies to Coles Reloadable MasterCard only. View the Product Disclosure Statement to see the applicable fees and foreign currency conversion rate methodology applied by MasterCard. ATM fees, charged by the ATM operator, may apply.

Financial Credit Card MasterCard

Related Stores

Coles Financial Services
Coles Financial Services

closed Comments

        • kipps on 15/06/2016 - 21:19

          Converting like that to dollars is unlikely to be the best redemption rate. I had always understood good redemption of QFF points would get you between 1 to 1.5 cents per point. Ie, 1000 QFF points = $10 to $15.

        • SydOzber on 15/06/2016 - 21:21

          @kipps: how ?

        • kipps on 15/06/2016 - 21:32

          @spk: http://www.pointhacks.com.au/best-uses-of-qantas-points/ and other sites cover off options. Often business upgrades/etc.

  • dasher86 on 15/06/2016 - 20:04
    +8

    The title should include the initial card fee.

  • littlecreatures87 on 15/06/2016 - 20:12
    +1

    So what rate is actually used?

  • tunzafun001 on 15/06/2016 - 20:21
    +2

    Handy feature of this card is you can turn it off / deactivate, then reactivate whenever you want. Good for storing away safely etc until the OS trip.
    Also handy for a free sim card and a 30c coffee from a Coles servo from time to time.

  • bargaino on 15/06/2016 - 20:24
    +2

    The $10 initial fee is offset by 2000 flybuys points, so $10 off at coles, if you link your flybuys number.

    • illumination on 15/06/2016 - 20:26

      But what 2000 Flybuys points? Are you saying there's an unadvertised bonus offer of some sort?

      • bargaino on 15/06/2016 - 20:37

        edit: I think I was wrong. the 2000 bonus points ended on 9th June.

        What I saw now was when you click 'buy now' on the above linked page you see:

        Please quote your flybuys number. Your flybuys number will appear on the back of your Coles Reloadable MasterCard.
        By linking your flybuys account to your Coles Reloadable MasterCard, anyone with access to your card will be able to redeem 2,000 flybuys points, instantly at a Coles supermarket checkout, to receive $10 off.

        Confusing.

        • odysseus on 15/06/2016 - 22:42

          They're saying redemption is the same as the regular flybuys card once linked, i.e. you can spend credits from your flybuys account at coles, without needing your flybuys card, but with the mastercard instead.

          Nothing to do with any bonus.

  • RogueWolf on 15/06/2016 - 20:40

    So 28 degrees charges 3% of the cash advance or $4 (whichever is greater) so $40 per $1000 withdrawn from ATMs overseas plus atm fee if it applies, so assuming after quick read of terms this card only charges you a atm withdrawn fee & no cash withdrawal fee? In other words it's better then 28 degrees?

    • illumination on 15/06/2016 - 20:50
      +7

      The 28 Degrees card should never be your card for withdrawing money overseas. You should have a Citibank Plus Debit Card (Transaction account) for that.

      • ezza on 15/06/2016 - 20:55

        Don't you have to find a Citibank atm though?
        Some countries don't have from memory or I may be wrong

        • illumination on 15/06/2016 - 20:58
          +3

          No you don't.
          If the ATM charges a fee then you get charged a fee, but unlike pretty much every other card, you don't get a fee passed on from Citibank. In fact I usually don't use a Citibank ATM just because that means I'm limiting my options. From my experience of using it in Hong Kong, Taiwan, Paris, Singapore, Malaysia, none of the "other" banks ATMs charged me a fee.

          Sometimes the ATM will give you a generic "warning" saying "your bank may pass on fees" - and you just say ok, because Citibank doesn't pass on fees.

      • RogueWolf on 15/06/2016 - 20:56

        True but leaving in a few weeks, am I right with the above comment? Should I get a Coles card for withdrawing cash rather then using my 28degrees?

        • illumination on 15/06/2016 - 20:59
          +1

          Out of this Coles card and 28 Degrees, I don't know what Coles charges for withdrawals so you'd have to check and do a comparison.

          However, if you're leaving in a couple of weeks, that's enough time for you to get a Citibank card and use that.

        • RogueWolf on 15/06/2016 - 21:58

          @illumination: thanks, will look into it..

        • spiffycashew on 15/06/2016 - 22:27

          @RogueWolf: if you could let us know your findings that would be really great!

        • RogueWolf on 15/06/2016 - 22:32
          +1

          @goodguy: will call tomorrow n let you know

        • RogueWolf on 16/06/2016 - 11:24
          +1

          @goodguy: called them, had to explain a few times about the cash withdrawal fee as they just kept reffering to the ATM fee, they said no fee to pull cash out from the ATM, only fee you may be charged is a ATM fee, say $2/$5 like in Australia when you dont use your own bank ATM, so for pulling cash out of the ATM looks like this is a much better option then 28degrees who are now stinging customers $40 per $1000 to withdraw cash, if you want to double check call 1300 095 072 , if you do let me know if you get the same info.. cheers

  • spiffycashew on 15/06/2016 - 21:15

    Anyone know how long it takes if I order tonight to receive the card? Going away soon and not sure if I'm doing this too late…

    • striker5950 on 15/06/2016 - 21:29

      just go buy it at coles..

    • CGradeCyclist on 16/06/2016 - 12:58

      Website says 3-5 days…

  • striker5950 on 15/06/2016 - 21:28

    do you get charged transaction fees?
    monthly fees?
    yearly fees?

    can i use this to join a gym? or will they reject it?

    • nexus4 on 15/06/2016 - 22:03

      The answer to your first three questions is no. The answer to your last question is yes you can. Why would they reject a MasterCard?

      • striker5950 on 15/06/2016 - 22:11

        well the thing is i made the mistake of asking them about a month ago if they can take the weekly repayments out of a re loadable credit card, the lady on the phone said no it has to be an original one, this was a month ago, i mean i dont think they could have said anything if i had not mentioned it, but im pretty sure they forgot it by now, i still have not gotten the membership but im thinknig of joining soon and if this works it would be great that way i wont have to give them my main credit card, you can never trust these gyms these days..

        • nexus4 on 15/06/2016 - 22:20

          They can't tell the difference AFAIK unless you tell them, it works like a normal credit card.

          If you have a contract with the gym and break it you'll still be liable for any payments whether the transaction is processed or not, so you should still be careful

        • saxlady on 15/06/2016 - 22:35

          (unless I'm mistaken) it said under the terms that you can't use it for regular payments. so you would be ok if it's a once off payment, but regular payments I don't think so

  • coolsteps on 15/06/2016 - 21:32

    i wonder if you have over $10 balance left after 2 years and decide to renew will you still forfeit the first $10 to pay the 2 year $10 fee for the new card or will it be waived? also is this card any good for intl ebay purchases?

  • cozmicf on 15/06/2016 - 21:44

    So if I'm going to the US in a couple of months time, is this my best option for taking money across for spending there (both through ATM withdrawals and paying by card)? Estimating that I'll spend around $2-$3k without accommodation.

    • TrafalgarSean on 15/06/2016 - 21:53
      +1

      I took my citibank card to mainland USA as 7/11 have their ATM's in them.

      • cozmicf on 15/06/2016 - 22:00

        How's the currency conversion on that (I assume it's the Citibank Plus)? So that's a better option than this card do you reckon?

        • dextertheboygenius on 15/06/2016 - 23:34
          +1

          If you use a Citibank card and withdraw from a Citibank ATM, there are no charges. Whereas if you use this one to withdraw cash, local ATM fees might be applied.

  • MrBillions on 15/06/2016 - 21:57
    +4

    been on ozbargain for years and only now discovered the option of bookmarking deals…nice.

    • nuchalis on 15/06/2016 - 22:17

      Thanks! I had no idea either. Some good card info here, I've bookmarked it too :)

      • MrBillions on 16/06/2016 - 06:33

        @scotty perhaps the bookmark feauture should be a standard star feature outside the post and not inside? I view several listings throughout the day and need to come back to them in the evening.

    • RocketSwitch on 16/06/2016 - 16:51

      lol, me too.

  • tghtarse on 15/06/2016 - 22:18

    Can you top up this card using a credit card? If yes, good way to take cash out of the account without paying cash advance :)

    • bargaino on 15/06/2016 - 23:00
      +1

      If allowed it would be as a cash advance. No free lunch.

    • dextertheboygenius on 15/06/2016 - 23:32

      The only 2 ways to top up are Direct Deposit or via a Debit Card.

  • Brick50 on 15/06/2016 - 22:26

    Can this be applied to existing prepaid cards I got a couple of months back?

    • tqf8h on 15/06/2016 - 23:46

      Yeah I would also like to know as I got a free one, no with no balance.

  • APN Adelaide on 15/06/2016 - 23:43

    Tried buying from amazon.in and flipkart card got rejected, ended up using Gem visa. :(

    • Lukian on 16/06/2016 - 16:42

      Did you try contacting Coles to allow international purchases?…

      • APN Adelaide on 17/06/2016 - 10:24

        i called them and the first thing they said was your call will be charged $/min to answer my questions . i said no thank you :P.

  • iamhurtin on 16/06/2016 - 04:31

    Wish they had done this last month.
    Would of saved me 30dollars.

    Still, at least i won't be charged for buying a new phone this week.

    It's pretty good the Coles card I find, I've got 80 bucks worth of shopping credit since Jan.

    Another few years and I'll have enough for a flight to somewhere within the same state!

    edit or is this for only for buying overseas and I should stop posting when half asleep?

  • AliensStoleMyMoney on 16/06/2016 - 05:08

    wait so ur saying if i get this i wont have to pay converasion rates for amazon ?

  • alwaysis on 16/06/2016 - 05:45

    Excuse my ignorance - does anyone know how this would compare to the CBA travel money card? Going to bali next week and was going to use the travel money card that I already have however it doesn't seem to have option to Indonesian currency.

    • nexus4 on 16/06/2016 - 10:40
      +1

      This is better, travel money cards are inevitably riddled with hidden fees

  • cornucopia on 16/06/2016 - 07:29
    +1

    I notice Citi gets frequent mentions in this post. A couple of things. Citi have just rolled out a new earner, they're charging overseas transaction fees (now a punishing 3.4%) now 'Charged for any transaction made in foreign currency or any transaction made with an overseas merchant.' This INCLUDES such transactions denominated in AUD!! When I asked them how anyone could identify exactly who was 'an overseas merchant' on the WWW, they gave me a page of unintelligible weasel words. So I will no longer be using my Citi card for any WWW transaction where I'm not absolutely certain the seller is a local company. This gets really tricky with travel, so I'll likely be using 28D for ALL travel.

    • Mobe1969 on 16/06/2016 - 08:07

      Yeah they really like screwing you. It isn't enough that you are spending money with them, that they do you on exchange rates, they still feel obliged to add additional charges. I can't understand why there isn't more competition like 28D

    • Dacs on 16/06/2016 - 08:12

      As far as I know, the charge is only for transactions made on the credit card, not the Plus account debit card.

      For the credit card there have always been fees applied to foreign transactions that are not in AUD, it's only the fee on foreign AUD charges that is new. I had the same experience with contacting them to say that it's not practical to check with every merchant in advance.
      Here's a list of merchants that will attract the extra charge.

    • Nuggets on 16/06/2016 - 11:05
      +1

      So much FUD in this thread..

      Citibank Plus Debit doesn't attract any fees.

      • cornucopia on 16/06/2016 - 19:05

        Not true, there are fees for using this card at an ATM OS
        …
        https://www.citibank.com.au › pdf › Fees…

        • Nuggets on 16/06/2016 - 19:24

          The card only attracts fees that are charged by the ATM.

          Citibank themselves don't impose any additional fees.

          So, as long as you use an ATM that doesn't attract an unavoidable transaction fee - of which there are plenty in most countries - you won't pay a cent.

  • Ninjabredman on 16/06/2016 - 10:59

    I am so annoyed at this because i got this email literally the day AFTER i came home from queenstown :(…

    good for next time I travel i guess

    • Nuggets on 16/06/2016 - 11:06

      This card is really not that great compared to the Citibank Plus Debit card. You have to pay $10 just to get the card, for starters.

      The zero currency conversion is only valid until the end of the year.

      Plus, the expiry appears to be two years - who wants to get a new card every two years?

      The Citibank card is a proper bank account that you can transfer money to, it has a mobile app, and the zero currency conversion fees will still be there in 2017.

      • Ninjabredman on 16/06/2016 - 11:34

        I got my card when they had a promo going on where you pay $10 to get the card and get $10 spending credit. It also lets me put any name I wanted on the card for anonymity purposes so it was a travel prepaid use and dump card :)

        The direct debit transfer into the card whilst wasnt instant, was within 5-12 hrs which was better than the advised 1 business day

        For anonymity purposes, this was the go - to card since I'm ANZ everything else lol

      • davedave on 16/06/2016 - 12:12

        How do you know the zero currency conversion fees will still be there in 2017?

        • Nuggets on 16/06/2016 - 13:19

          Well I suppose I can't guarantee it, but Citibank haven't made any announcements about changing their fee structure. Whereas the zero currency conversion on this Coles card very clearly does expire..

  • Scot on 16/06/2016 - 11:13

    Is this MasterCard considered a debit MasterCard? Like when Tiger airlines say no fees if paying by MasterCard debit? This may have already been answered but I couldn't see it in comments. Thanks

    • Lukian on 16/06/2016 - 16:43

      It should be. Either way you can use either in the app ;)

  • JimB on 16/06/2016 - 11:52

    I'll stick with my Citibank Plus Debit for ATM withdrawals and BankWest Platinum Mastercard for purchases in foreign currency.

    • cozmicf on 16/06/2016 - 12:11

      Just wondering, why wouldn't use the citibank plus debit for both?

      • davedave on 16/06/2016 - 12:17
        +1

        1. Some people are claiming on this thread that Citibank's foreign currency exchange rate is worse than BW or 28D. I don't know if this is true.

        2. BW and 28D are credit cards, so you can find the money after. Citibank is a debit card so you have to have the money in your account before the transaction.

        3. Debit cards are not always accepted where there might be additional charges after eg car rentals where there might be damage. Or they tie up say $2000 till they confirm there is no damage. On a credit card that soaks into your credit limit but doesn't cause a problem if you spend well under the limit. On a debit card that is your own money being kept in deposit and unavailable to you to use elsewhere till the first merchant releases it.

        4. Dispute resolution can be better with credit cards than debit cards

      • JimB on 16/06/2016 - 12:28

        Further to Dave's good points, when traveling, it's better to have 2 cards in case 1 fails or you lose one or one gets skimmed or scammed.

        I've lost a bank card overseas twice inside the ATM. Some countries ATM are different to Australia, they spit out the money first before the card, I count the money and walk off leaving the card in the ATM. In Australia, you have to take out the card first before the money comes out.

        Also, I can pay for purchases using credit, pay it off at the end of the month.

        Plus I would rather my BankWest Platinum Mastercard gets skimmed or scammed while paying for something over my Citibank Plus Debit because it's not my actual money they are stealing and you have time to fix up the error.

        If my Citibank Plus Debit is skimmed or scammed while overseas, I'm left with no money in my account or card access while overseas. Therefore I will have to use my regular bank or credit card.

      • T-man on 16/06/2016 - 16:15

        You earn Qantas points with BankWest, the Citi card doesn't.

        The Citibank card doesn't charge ATM fee, BankWest does.

        So each card has advantages and disadvantages.

  • [Deactivated] on 16/06/2016 - 13:36

    I have the citibank debit card.

    Anyone know if the rates on this coles card will be better than the citibank card?
    Looking at spending about 10,000 AUD in the USA next week.
    Worth the bother of grabbing one of these?

    • UncommonName on 16/06/2016 - 13:41
      +1

      One is governed by Visa exchange rate and another is by MC exchange rate, so yeah they will differ.

  • JokerCandy on 16/06/2016 - 15:14

    So you only get points if you are spending money overseas according to the description…

    I might wait and hope for that "$0" deal option to come up again. That's the right idea if I don't need it until September right?

  • CanadianBeaver on 16/06/2016 - 15:18

    Do these cards expire? if so how long do they normally last? Also can I use my myers coles giftcard credit to load into this card? cheers!

    • Lukian on 16/06/2016 - 16:44

      Yes.

      2 years? Whatever the normal expiry date printed on a card is.

      Probably not.

  • Normie on 16/06/2016 - 18:21

    Might be worth noting:
    "We’re waiving the currency conversion fee on international purchases
    on your Coles Reloadable MasterCard until 31 December 2016."

    Its unclear if the currency conversion fee will be waived for overseas ATM withdrawals, if anyone wants to try a ATM withdrawal you first need to increase your card limit, you should be able to do this by verifying your id online.(Need to be 18 years or older to use ATM overseas)

    From 1st July 2016 if you have increased your Card
    Limit, the maximum you can withdraw from ATMs
    will be reduced from $1,000 to $300 per day.
    ATM fee as quoted by the ATM.

    PDS Can be found on this page: https://financialservices.coles.com.au/prepaid-cards/about-o…

    • RogueWolf on 17/06/2016 - 10:47

      "its unclear if the currency conversion fee will be waived for overseas ATM withdrawals"

      No currency conversion fees on withdrawls, ive called twice to make sure, there may be ATM withdraw fees but that should only be a few dollars, only downside as you stated is the $300 daily withdraw limit, a bit low..

      • Normie on 22/06/2016 - 16:46

        If that is the case, it makes a good backup card. Hopefully soon someone can confirm that they are not charging 3% currency fee on ATM withdrawals.

        • RogueWolf on 22/06/2016 - 20:09

          theres no 3% fee ive called twice to confirm, but you need to work out what the ATM fees will be, as the max withdrawal overseas is only $300aus its the ATM fees you need to watch out for, last time I travelled using 28d atm fees ranged from $0 to $10+, its hit & miss each country, if they start averaging $10+ on $300 withdraw then its no differant then using 28d, but if they are only a few dollars then it works out ok

  • lollyball on 18/06/2016 - 17:38

    thanks for post op.
    made the effort to login to give u a +
    bought 1 to try when i go overseas in august.
    28 degrees vs coles lol
    even though coles ends free exchange fees till end of yr :(

  • alwaysis on 19/06/2016 - 06:28

    Did anyone have difficulties buying one of these cards? I went to coles robina yesterday and none of them had heard of it. They couldn't find any and asked several others in the store so I will have to try another store

  • RogueWolf on 21/06/2016 - 16:56
    +2

    Something to consider, if your getting this card to take cash out overseas it may not be that handy, they limit you to $300 Australian dollars per day withdrawal overseas, the killer will be what atm fee you get charged, which you won't know until your there can be anything from a few dollars to $10+ it's hit n miss really, if it's in the higher end really just adds up similar withdrawal fee as 28d

    Also there customer service sucks, bunch of fees they will try to sting you for when you call for enquiries, called regarding some card setting up issue they try to charge a $4 fee, can only imagine the service will receive if you have issues overseas..

    • illumination on 25/06/2016 - 17:24

      Agree with you on a few things, but not on some others…

      Agree:

      • $300 AUD equivalent per day is definitely a significant restriction which sucks
      • Their customer service charging some ridiculous fees. I noticed it when I rang up too.

      Disagree:

      • ATM fees of a few dollars to $10+? I've never been charged an ATM fee overseas (ironic, as in Australia you get charged unless you're with ING or you're using your "home bank") and I'm talking from experience of using Citibank Plus Visa Debit card in France, Netherlands, UK, Singapore, Malaysia, Taiwan. A lot of the ATMs give you a generic warning saying "you may be charged a fee by your bank" which you can safely ignore because Citibank doesn't impose a fee. I think this would be the same with this Coles prepaid card, as they do not pass on ATM withdrawal fees.
      • You're comparing withdrawal fees vs 28 Degrees. Why would you even withdraw money from a 28 Degrees card? This hasn't been "free" to do in a really long time. You should be comparing it to the Citibank Visa

      Neutral:

      • Don't know if their customer service sucks, they seemed ok. It's just all the charges were a bit stupid.
  • spuderump on 08/07/2016 - 15:49

    the $300 maximum daily withdraw limit is a real killer

    • bargaino on 08/07/2016 - 16:33

      Get two cards?

  • artypig78 on 23/08/2016 - 20:05

    Originally I was going to use this card to sign up for free trials which automatically start charging you after the free period (eg. Spotify or Presto). I thought this would be safe, as if I forget to cancel the trials, the transaction would get declined anyway since there'd be insufficient balance and I wouldn't lose money.

    However, I just read this in the T&Cs, can anyone confirm if this actually occurs (or if they just claim it to stop people from signing up to free trials with recurring costs):

    "If you authorise a transaction that exceeds the Available Balance, you’ll be liable for any Negative Balance that may result. If you have less than $0.00 Available Balance remaining on your Card, you must repay us the amount needed to bring the Available Balance back to $0.00. You may also be liable for any reasonable costs we may incur in seeking the amount of the Negative Balance from you. If your Card has a Negative Balance, when you next load value onto your Card, we will first apply that loaded value to recover the Negative Balance from you."

    tldr; any overwithdrawal fees / is it possible to overwithdraw

  • vinnyd23 on 03/11/2016 - 13:55

    Guys beware! Please read my post before buying it..I ordered the card and they just literally took my money and closed my account.

    https://www.ozbargain.com.au/node/273824

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