Citi Plus is going to be replaced by NAB's classic (?) debit from next Feb. I currently use citi plus for some overseas payment. Based on my preliminary research, this NAB classic debit is lack of good features compared to citi plus. Can people who are with NAG confirm?
And what other options in terms debit cards for fee free overseas transactions do people recommend?
Thanks.
PS:
Just found out this:
https://www.nab.com.au/personal/accounts/transaction-account…
not bad :)
Fee free international transactions.
But it does though. Fee free atm too.
Edit: op updated their post to show there are no changes to citibank's features. I just wish people read tnc first.
Instead of clicking the link in my email, I just went to their site directly and looked at the account fees and charges.
Given it's the main benefit of the card, you'd think they would highlight it in the email.
Regardless, I have moved my money away and will find another product.
@umexcuseme: Not withstanding the fact that i personally used the nab card and had literal 0 fees and excellent forex rate.
You can also read the actual pds they give:
https://www.google.com/url?sa=t&source=web&rct=j&opi=8997844…
Specifically Part C. Which clearly states that the fees are waived.
So before you go off tangent and start calling people out, maybe you should take a good look at yourself in the mirror.
Maybe shut up, dyor before you open your mouth next time. Make sure you've got the facts out from a reliable source because all i see are trash from you.
I've wasted enough precious minutes of my life. Have a good one.
Back then you could link your overseas Citibank account (from other country) with Citi plus AU and transfer money instantly.
But this has nothing to do with NAB as Citi has sold out most of their global footprint , not just their Aussie arm.
bankwest platinum debit
$6 per month if you don't deposit $2k.
There are 3 options and only "Bankwest Qantas Transaction Account" has such a requirement?
Bankwest Qantas debit
HSBC Everyday Global? No account keeping fees.
You can earn 2% cashback on purchases under $100, can store up to 10 different currencies and there's no international transaction fees.
International transaction fee - Have you compared different cards?
I wonder if their exch rate differs.
It's HSBC's FX rate instead of MC (like Citi was) or Visa (like NAB is)
Would it be safe to assume that it would be Less competitive then?
@ol mate: It's much less competitive; almost like having a smaller foreign exchange fee inbuilt. I tested this when I was in Brighton, UK late last year.
I had both the Citibank Plus card and the HSBC card.
Is visa lower rates than MasterCard? Citi seems to fetch higher rates than HSBC
Yes Visa card with a poorer International exchange rate than MasterCard
HSBC is rate is lower than the Citi I have at the moment
10USD HSBC gives 14.63AUD and Citi does 14.70AUD
Will second Macq. Earning the same interest on the transaction account as savings with no hoops is awesome
I'm in the same boat as you have gone with https://www.macquarie.com.au/everyday-banking/transaction-ac… which is a Master Card as opposed to New Nab/Citi Bank one which is a Visa card with a poorer International exchange rate.
Very happy with Macq App as well.
Just came back from Singapore Sunday and worked with no problems.
Anyone uses this Macquarie Card for foreign netflix?
Keen to know too!
Just used this on a trip to Singapore, UK, Europe, and Taiwan.
Overall, the same as Citi, but I think some global relationship/alliances might affect ATM charges - taking cash from an ATM I found:
Is there a currency exchange fee? I seem not to find the information about it.
They use the Mastercard exchange rate and there is no additional fee.
While I am activating the NAB card I received yesterday; I am also applying for the mac card :D
Thanks.
What nab debit card/ account is good?
Looking for no fee and ability to use coin services
Just spoke to Citibank migration team at NAB and they confirmed that current features on Citibank Plus cards like zero ATM withdrawal and zero international transaction fees would continue on NAB Debit Card. See the link below:
Yes but Nab one is a Visa card not a master card which has better conversion rates that's why I have setup a Mcaq. debt card which is a master card.
I'v still got both the CitiBank CC and debit card but used the Mcaq. one in Singapore recently.
I did a currency check and yes my Citi mastercard has a better conversion rate
which citi cc are you holding?
The multi currency one. It was also a citi gold account.
They lied: https://www.nab.com.au/personal/bank-accounts/debit-cards/na…
International transaction fee 3%
You have mistakenly linked to the wrong product.
NAB Visa Debit card
ATM cash withdrawal Fee waived
Balance enquiry Fee waived
International transaction fee Fee waived
The coversation rate on NAB seems lower than Citi?
For example, 10USD Citi gives me 14.97AUD while NAB says 14.82AUD
Where are you getting those rates from?
the citi rate is from citibank online banking website, and the latter is from NAB currency exchange website
for 10USD the difference is already 15c which I think it is huge if you buy things online in a different currency a lot - thus I want to find a better debit card, as I purchase goods and services in other regions
You should be comparing Mastercard v Visa rates.
@Baysew: Isn't this based on bank/brands as well? I tried ANZ a long time ago and their currency exchange rate was a rip-off
@Freddies: No. From Citibank -
the relevant card scheme exchange rate. For
example, where you use a debit card to make a
purchase in USD using an Australian dollar currency
account, the relevant card scheme will perform
the foreign exchange using their own foreign
exchange rate. In that case, we have no control over
the foreign exchange rate that is applied to your
transaction
From ANZ -
All amounts transacted in a currency other than
Australian dollars will be converted into Australian
dollars by Visa. Visa will determine the conversion
process and rate or rates used.
Your transaction may have been converted at point of purchase using Dynamic Currency Conversion. In that case neither your local bank, Visa/Mastercard is involved. Most of ANZ cards have a Overseas Fee, which is why No International fee accounts such as Citibank Plus are popular around OzBargain.
Most of ANZ cards have a Overseas Fee
I think that's why NAB rates are better than ANZ. That said, MasterCard is better than Visa
I mainly use this card to withdrawn money. Given my withdrawals are low (most of the time i just pay with credit card), i guess I wont bother changing to a mastercard.
Citibank has arrangements with overseas banks and their associated ATM networks for ATM-fee free withdrawals. (I am not talking about the international fee)
I do not know if those arrangements will be maintained or if NAB has its own arrangements with overseas banks and associated ATM networks that allows this feature.
Maybe the arrangements still apply.
Thanks, seems alright to stick with it for now. I use mine locally and also travelling
Just received the NAB card and attempted to withdraw some cash at an ATM in Japan (7-11 ATM always free with citi).
Not only was I only allowed to withdraw multiples of 10000yen ($100 aud ish), it also wanted me to pay a 100yen fee (about a dollar).
Not the end of the world but compared to the Citi, I think it’s trash. I didn’t even go ahead with the withdrawal so can’t comment on the rate.
Thanks for the heads up.
Probably just easier to overpay my BankWest CC and withdraw from that next trip.
Thanks for that report. Hmm… disappointing.
Any other experiences using the card on overseas atm?
Bankwest platinum debit card working at 711 atms well in Japan. Select credit option. Transaction fees waived, pretty much spot rate conversions and no ATM fees.
Only small issue is 100,000 yen per day. So plan ahead. Otherwise use the card like a credit card for purchases so you carry less cash around.
What features is it lacking?