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Xinja No Longer Charging Overseas ATM Withdrawal Fees and Refunds Foreign Exchange Conversion Fees

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Xinja No Longer Charging Overseas ATM Withdrawal Fees and Refunds Foreign Exchange Conversion Fees
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ozisaver on 23/08/2018 - 15:55 xinja.com.au (627 clicks)
Last edited 16/12/2020 - 10:46 by 1 other user

Following on from this deal I've found another fee free card to use. Yes, apparently there is a waiting list to get the pre-paid Visa but I signed up and got it after a few weeks.

From the email I received:

Great news if you're planning a trip overseas! In addition to Xinja charging no ATM fees, we now also offer zero currency conversion fees. This will take the form of a refund, meaning you'll see a 3.5% charge in your Xinja app, but that money will be back in your account shortly after. This makes the Xinja card the perfect travel companion!

What is Xinja?

It's an neobank that provides you with a pre-paid Visa card that is managed with a mobile app.

Zero fees

  • We charge no international ATM fees (some ATM providers may still charge a fee)
  • Currency conversion fee of 3.5% fully refunded
  • No card fee
Financial Xinja

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  • samfisher5986 on 23/08/2018 - 16:06
    +4

    Just use ING and get the ATM fee refunded as well. (Received $6 each transaction last time I was overseas)

    Safer then a prepaid card as you just move the funds in 30 seconds before you withdraw it from the ATM.

    With a prepaid card you'll lose everything if you get skimmed.

    • Wilburre on 23/08/2018 - 16:08
      +1

      The main thing here though is they are refunding currency conversion % of 3.5% - i wonder if this the visa fee or their fee?

      • samfisher5986 on 23/08/2018 - 16:08
        +2

        Visa have no fee.

        The currency conversion fee is something they did once charge, but no longer anymore.

        ING never charged currency conversion fees on the card in question.

        • Ramsfeb29 on 23/08/2018 - 17:12

          @samfisher5986
          Which account should I open with ING "Oragne Everyday Bank Account" ? Or credit card " Orange one"

        • clang823 on 23/08/2018 - 17:30
          +1

          @Ramsfeb29: You'll have to have an Everyday bank account before getting the Orange One credit card. Same perks as far as international transaction fees go, I have both.

        • Ramsfeb29 on 23/08/2018 - 17:33

          @clang823: Thanks. Can I just have everyday bank account and use same debitcard outside australia?

        • clang823 on 23/08/2018 - 17:47

          @Ramsfeb29: Yea you can do that. I only got the credit card as well in case I wanted to be able to spend that extra bit while I'm overseas. Spendings on the credit card also count towards the 5 transactions criteria, I usually pay for my coffee with that.

        • Ramsfeb29 on 23/08/2018 - 18:19

          @clang823: Thanks for your reply.

    • ozisaver on 23/08/2018 - 16:09

      Isn’t there a minimum monthly deposit and minimum amount of transactions for ING though? Ok if you wan to use it as your everyday account I guess.

      • samfisher5986 on 23/08/2018 - 16:10

        Yes.

        But if you get your pay and you visit the supermarket with the card, you are covered.

        No reason not to have it as your everyday card.

        • mcnugget on 23/08/2018 - 16:21
          +8

          Plenty of reasons not to have it as your everyday card.

          Folks who use credit cards &/or have offset accounts for example.

        • samfisher5986 on 23/08/2018 - 16:22

          @mcnugget:

          But you still need to get your salary deposited into somewhere right?

          Making 5 transactions before you leave on your holiday isn't hard, assuming that you had a credit card that made paying all the crazy credit card surcharges worth it.

        • mcnugget on 23/08/2018 - 17:10
          +3

          @samfisher5986: Put salary into an offset and avoid cash or using debit where ever possible. If I remember the month before travelling will jump through ING hoops, but also run with Macquarie and Citibank for international withdrawals so not a huge deal.

          You are correct in that it's tough to make significant return on spend alone, but taking advantage of credit card sign ups and using targeted offers on those cards can make it very worthwhile.

    • Louis89 on 23/08/2018 - 16:13

      ING now request $1000 deposit and 5 transactions per month then u can get the ATM free worldwide next month.

      • samfisher5986 on 23/08/2018 - 16:14

        Which is covered by any job and using it to buy your groceries.

        • Louis89 on 23/08/2018 - 16:16
          +1

          Since I got my credit card, the ING card stays in the drawer.

        • samfisher5986 on 23/08/2018 - 16:18

          @Louis89:

          Whats your point? So go and pay $50 in ATM fees then?

          If you want to pay extra because you don't want to make 5 transactions with your bank, then you need to accept the huge atm fees.

          Also I hope you have a crazy rewards system because of credit card surcharges from the shop.

        • mcnugget on 23/08/2018 - 16:24
          +1

          @samfisher5986: It's worth looking into the credit card game, missing out big time by sticking to debit.

        • samfisher5986 on 23/08/2018 - 16:25

          @mcnugget:

          Do you have a guide on how to make money with a credit card?

          I've always looked at rewards systems but never found it easy to make sure I made a profit.

        • slinkster on 23/08/2018 - 16:43
          +1

          @samfisher5986:
          Pointhacks.

        • Louis89 on 23/08/2018 - 16:45

          @samfisher5986: Hope you have a crazy travel plan as well.

  • No on 23/08/2018 - 16:09
    +4

    It’s going to be a few more months until we launch Xinja for Android. As soon as the first version of the app is ready, you’ll get an invite to be a beta tester. We’ll be in touch

    Would have been nice to know before I gave u my email address.

    • ozisaver on 23/08/2018 - 16:11
      +1

      Hmm, iPhone only then for the time being. That’s annoying. You would think they would launch both platforms at the same time.

  • DaTa on 23/08/2018 - 16:28

    Been waiting awhile for this to even launch for Android

    • kmish on 23/08/2018 - 16:38

      Yea seems like they still dont

  • kmish on 23/08/2018 - 16:33

    What would the exchange rate be like? Do they use standard visa exchange rate?

  • arctan on 23/08/2018 - 16:34

    Has anyone got their cards yet or are we all are still waiting the visa debit card? I signed up long time ago and never heard anything on the physical card.

    • ozisaver on 23/08/2018 - 16:36
      +1

      I got one. It’s a pink Visa card and comes with a strange rubber cover.

      • GAMBOL on 23/08/2018 - 17:08

        Received same stuff this week, haven't start to use yet.

    • ntb on 23/08/2018 - 17:36

      Got one, it's pink and glows in the dark :)

  • JC1986 on 23/08/2018 - 17:08
    +2

    Same happened to UBank Ultra cards now.

    “No overseas fees
    24/7 access with your UBank Visa Debit card
    We don’t charge ATM withdrawal and foreign exchange fees when you access your Ultra transaction account overseas, or for online purchases with overseas merchants.”

  • murkywater on 23/08/2018 - 19:26

    Serious question, how is this any better than a MQ bank transaction account?

  • coolsteps on 24/08/2018 - 08:54

    can you top it up using a rewards credit card to earn points and then use the prepaid card to pay the ato? will it be treated as a foreign card or local aud card?

  • illumination on 07/01/2019 - 17:06
    +1

    Xinja has recently announced their Android app launch

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