NAB Platinum Visa Debit Card - No Conversion Fee + 1% Cashback + Complimentary Insurances - $10 Monthly Fee

46

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slx on 27/02/2018 - 14:54 nab.com.au (254 clicks)
Last edited 27/02/2018 - 14:56 by 1 other user

Just saw this on their website. Might be useful for those who don't already have a credit card that offers complimentary insurances.

Downside of this card is that there is a $10 monthly fee.

Main features:

• 1% Cash back on contactless purchases - Up to $10 per month (Not clear if this is on-going)

• No foreign currency fee on international purchases

• NAB Concierge Service gives you your own 24/7 travel and lifestyle assistant (Do people actually use this?)

• Complimentary insurances including:

  Overseas travel insurance;
  Transport accident insurance;
  Interstate flight inconvenience insurance;
  Domestic Hotel Burglary insurance;
  Purchase protection insurance;
  Extended warranty insurance; and
  Price protection insurance.

The card must be linked to a new or existing NAB everyday account, such as NAB Classic Banking - NAB Classic Banking account is free of charge.

Related Stores

National Australia Bank Group (NAB)

• 

  demiurge on 27/02/2018 - 14:56

  +14

  You must be kidding me. $10 monthly for a DEBIT card?

  • 

    Ibbz on 27/02/2018 - 14:59

    What a joke, you can get similar features without the fee elsewhere. Maybe if the cashback was limited to $20 or $30.

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  PissLUR on 27/02/2018 - 15:09

  +1

  This is such a bad deal. $10 monthly fee??

  • 

    garage sale on 27/02/2018 - 15:21

    Not if spend $1000 or more on the card each month …… Which is easly done

    • 

      PissLUR on 27/02/2018 - 15:21

      +4

      1% Cash back on contactless purchases - Up to $10 per month

  • 

    jesseboy89 on 27/02/2018 - 15:24

    +1

    It's not too bad if you spend $1k per month through it (you'll get the $10 back through 1% cashback), and then make use of the free insurance (including price protect) and forex benefits. Also, by not being a CC it helps people who have issues with overspend.

    It's not great, but it's also not a bad deal if those conditions are met.

    • 

      [Deactivated] on 27/02/2018 - 15:38

      But that’s only on contactless purchases.

• 

  ozdesi on 27/02/2018 - 15:26

  +2

  You should compare it to $120 annual fees credit card for a good like for like comparison

  • 

    dazweeja on 27/02/2018 - 16:21

    Agreed or a $0 annual fee Bankwest Zero Platinum with similar features.

• 

  EightImmortals on 27/02/2018 - 15:31

  "No foreign currency fee on international purchases"

  Does that mean international purchases while you are actually OS or everything bought online from OS? Pretty sure I have the Platinum credit card and I keep getting slugged for OS purchases?

• 

  WTF on 27/02/2018 - 15:59

  +4

  LOL What - PAY for a debit card?

  This is not a deal - its a MONEY GRAB BY NAB.

  • 

    demiurge on 27/02/2018 - 18:43

    It's a deal alright, for NAB.

• 

  tidie on 27/02/2018 - 16:02

  it might be worth it ONLY if it is free

• 

  t25 on 27/02/2018 - 16:06

  Didn't they used to give these out for free a few years ago when you deposited >$4k/month?

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  accessdenied on 27/02/2018 - 16:19

  -1

  Haha So basically you do not get any cashback. If you spend $1k a month, in contactless payment, you will get your monthly fee back. How about just go for a bank who does not charge monthly fee. No deal

• 

  dust on 27/02/2018 - 16:27

  Uhh nope. (If there was no cap on cash back it might be worth it…)

• 

  apokalypsez on 27/02/2018 - 23:15

  can anyone explain Complimentary insurances including: Transport accident insurance; ? thought of hiring a car but looking at excess fees over 4k+..i one peace of mind in case of accident, anything happen then only pay few hundreds dollar.

  • 

    theblake on 22/03/2018 - 18:43

    The explanation is in the PDS, you need to have a read of it. Takes a bit to get your head around it, but you will get there.

• 

  Ryk on 28/02/2018 - 19:43

  Withdrawal fee at over 10,000 ATMs. Access over 10,000 ATMs across Australia

  at the rate they're ripping them out it won't be 10,000 for long.

  and fee ATM wdl is available to all australian cards…

• 

  theblake on 22/03/2018 - 18:39

  Its not for me, but this is actually a very good deal for anybody that cant get a credit card, or doesnt want one, spends and travels overseas.
  If someone uses this as their main account, AND goes overseas once a year, it will pay for itself.
  eg $2000 overseas spend, save $60. 1 week holiday, Save $60 for insurance.

  i'll definitely tell my kids to use it when they travel, they can cancel it when they get back.

  I like how all the negative votes dont actually suggest an alternative product. There is no other Debit card that offers NO overseas fees AND the Insurances. Its smartthinking by NAB as they have differentiated from other offerings. Like anything they will see how it goes.

  • 

    [Deactivated] on 27/03/2018 - 00:05

    +1

    I completely agree with you.

    Having priced up travel insurance for 3 months in the U.S, this card pays for itself.

    Just downgrade to a standard Visa debit card when you return.

    Make sure your kids book their travel using the card, I haven't read all the T&C but that one is pretty standard.