Up Bank - International Operator ATM Fees

LFx180 on 17/04/2023 - 11:46

Just saw from another post that ING may imminently axe the international ATM operator fee rebate.

I'll be going on holiday in the middle of the year so this is a bit of a bummer (not really as I'd only save $20-30 on ATM withdrawal fees but this is OzBargain so gotta save every dollar right?)

While doing some quick browsing, I noticed that for Up bank, International ATM withdrawals are "Free at most major Bank ATMs"
https://up.com.au/pricing/

Any Up bank customers care to share their experience of using an Up card to withdraw cash overseas? Are ATM operator fees (not a fee imposed by Up) waived/refunded? Does this restrict what ATMs to use overseas?

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Comments

  • askbargain on 17/04/2023 - 11:57
    +1

    if you're using up bank, you're more like saving $3-5 per withdrawal because you're using mastercard exchange rate

    there's also this list which is not being updated anymore

    https://community.revolut.com/t/the-ultimative-free-atm-with…

    should work for non-revolut cards too

  • prisonmike on 17/04/2023 - 12:07
    +1

    Better stick with withdrawing cash from an ATM operated by an established bank to avoid fees. Typically small ATM operators charge fee which UP or ubank most likely won’t rebate like ING.

  • coffeeinmyveins on 17/04/2023 - 12:09
    +2

    I doubt UP would refund ATM fees imposed by institutions overseas unless they explicitly state it.

    My 2 cents is that I've used UP in the US and NZ and it was great both times, I didn't withdraw cash but they use the MasterCard FX rate so don't do any dodgy stuff around adding a bit extra in there for themselves.

  • afayd on 17/04/2023 - 13:50
    +2

    This is what it says in the TCs. It is so poorly written. Can't they use full sentences? Anyway—it doesn't clearly say that you'll be charged the ATM operator fee for international ATM transactions, as it just says "free". But the fact that in the note in the section just before says that "Other financial institutions may charge you a fee for using their ATMs" makes me think that this will also be the case for international ATMs.

    ATM Withdrawal, Balance Enquiry or Transfer

    When you make a withdrawal, balance enquiry or transfer at an ATM in Australia using your Debit Mastercard.

    Free

    Note: Other financial institutions may charge you a fee for using their ATMs. This fee will be displayed at the time of the transaction and allows you to accept or decline the fee as shown.

    International ATM Withdrawal

    When you make a withdrawal at an International ATM using your Debit Mastercard.

    Free

  • aidenh37 on 17/04/2023 - 22:45
    +1

    Please don't mix up the different fees!

    International transaction fees are incurred when a transaction takes place outside of Australia, regardless of currency. Most banks this is 3%. Up is free.

    International ATM fees are incurred when an ATM withdrawal takes place outside of Australia. This is charged by the bank and is normally $5. Up is free.

    ATM operator fees are charged by the ATM owner for using the service. This can range from nothing, to $20 or more. Up will not cover this amount.

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