What Is The Cheapest Visa Card to Pay in Other Currencies

Techefy on 31/10/2020 - 13:03

Dear OzBargainers,

I have to do some payments to online websites which I need to pay in other currencies (mainly is USD). I am going to open an access account to obtain a Visa Debit Card (not a MasterCard). Which bank account do you guys recommend that has the lowest currency conversion fees if I do payments using a Visa Debit card?

Currently, I have a Commbank Smart Access account and it has a Mastercard, but I need a Visa card for the payments.

Any help in this regards is highly appreciated.

Thank you very much.

Financial

Comments

  • holdenmg on 31/10/2020 - 13:15

    Hi,
    I previously posted @ https://www.ozbargain.com.au/node/574754 for Qantas Money Mastercard.
    Apparently there is no-load fee from Bank Accounts and it is Multi-Currency.
    Plus earn Qantas Points on Foreign Currency Spend.

    Just be careful with Visa Debit they don't block the purchase based on the Card Number being Overseas.

    • Techefy on 31/10/2020 - 13:42

      Thank you, I am looking for a Visa card.

  • Blue Cat on 31/10/2020 - 13:35
    +7

    I am using ING bank's Visa debit card. If you deposit $1000 per month into it (from another bank) and use it atleast 5 times per month, there are no currency conversion fees and they give the REAL Visa exchange rate.

    • Fairypenguin on 31/10/2020 - 14:09
      +4

      Second this. We were in Canada a couple of years ago and they refunded any fee, including ATM and currency conversion. We rented a car in Edmonton and drove to Kelowna. The currency conversion fee as over $60. Typical for car rental companies. ING refunded it all.

  • soan papdi on 31/10/2020 - 13:47
    +5

    Ubank USpend also has visa debit. It's fairly good as well.

  • ilikeradiohead on 31/10/2020 - 14:18
    +3

    I am fairly certain that visa and MasterCard have the same rate across their cards at any point in time (like, visa to visa will be the same). The fees come from your financial institution. I have the Bankwest zero platinum, but that is a MasterCard.

    Also make sure you pay in local currency (eg if you're at a hotel), not "converted rate". It is always a garbage rate.

  • justdigi on 31/10/2020 - 14:20
    +2

    Revolut Visa. Can load it from a credit card so you get points still or has a BSB to receive payments. Works with PayPal too. Currency is at interbank rye with not surcharge or you can buy and store USD if you want, to lock in good rates.

  • peterpeterpumpkin on 31/10/2020 - 14:31
    +1

    Just to clarify, there are many tied cheapest cards since any that charge 0% would end up the same (assuming the same transaction date).

    I've been using ING for years because the deposit per month was only $1000 to get an "interest bonus" and it was one of the first debit cards to completely refund foreign ATM fees.

    But if you just want to shop (with VISA specifically) online without playing these "5 transaction plus deposit mind games" you can get the HSBC Everyday Banking card (or UBank etc). But I would play HSBC's mind games for the $100 Bonus (when you deposit $2,000 or more each month for 3 consecutive months, within 6 months of opening your Everyday Global Account).

  • John Kimble on 31/10/2020 - 14:52
    +2

    Why do you need Visa over Mastercard?

    • Techefy on 31/10/2020 - 15:10
      +1

      I have to do some deposits to Skrill who accepts Visa Cards only

  • joro on 31/10/2020 - 18:37

    I have had a Velocity Global Wallet Prepaid Visa for years now, no annual fees & it earns Velocity points if you have a linked account.

  • aerona on 31/10/2020 - 18:51
    +1

    Does citibank have international fees for paying on aliexpress?? From what i seen i never got charged an international convert charge on my statements !?

    so you guys recommend Citibank/ING for all your international transactions.

  • SgtBatten on 31/10/2020 - 18:59
    +1

    I use my 28 degrees card but that's MasterCard.

    Otherwise my transferwise card was pretty handy during a European holiday.

    • Techefy on 01/11/2020 - 19:52

      Transferwise card is also a Mastercard? and I saw it has spending limits per month and then it charges further withdrawals.

      • SgtBatten on 01/11/2020 - 21:49
        +1

        Ahh sorry i didnt check.

  • screensaver on 31/10/2020 - 20:30
    +1

    Macquarie has no fees on an international transaction I think. I use ING

  • txb on 03/11/2020 - 10:21
    +1

    hsbc multicurrency everyday visa

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