Best Debit Card for Asia

ClintonL on 30/06/2024 - 15:27

Wondering what the best debit card for cash out in Asia. I'll be going to Vietnam/Hong Kong/Malaysia/Signapore for a month, I have my Latitude CC for any card transcations/hotels but will need a debit card to pull cash and places that have cc fees.
I used to use citibank which was perfect but my account was closed down. Is there a general consensus on what the best card for this usecase is.

https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…

Looking at this I can see ubank/upbank/mebank have no international ATM fee's am i correct? If so are there any differences in spread when cashing out.

Travel Asia Debit Card

Comments

  • Luminary on 30/06/2024 - 15:36
    +2

    We used Wise recently in Asia and had no issues.

    • HeWhoKnows on 01/07/2024 - 20:41

      Can you confirm the cost of using the Wise card to withdraw cash at an ATM
      Most ATMs charge the same fees for withdrawing cash from an "overseas' account, whether a credit card or a debit card

  • AdosHouse on 30/06/2024 - 16:05
    +1

    I used Revolut and it worked fine.

  • cashless on 30/06/2024 - 16:17
    +1

    Wise

  • rasfolt on 30/06/2024 - 16:27
    +2

    Wise is only good if you only need less than $350 of cash. Ubank card is also good.

  • 6079 Smith on 30/06/2024 - 17:31
    +2

    Did NAB not transition you over to one of their transaction accounts with the same benefits?

    In that case, Macquarie. Good rates, no fee, instant notifications of transactions and you’ll earn 4.25% interest on any money sitting in the account. Not sure why people opt for cards like Wise that limit free withdrawals

    • ClintonL on 30/06/2024 - 18:12

      Wait that was a thing? They opened a classic banking account for me but nothing in the email mentioned that I would get the same benefits.

      • 6079 Smith on 30/06/2024 - 19:14

        Yeah, I think so. I got a new black debit card (in addition to me existing red nab card) that I used for 2 withdrawals in the US and it didn’t charge me a withdraw or conversion fee.

        Also they gave me a NAB Reward Saver account that I’m getting 5.6% on (as per an email they sent me in December)

      • kawinuyo on 01/07/2024 - 02:24

        There were emails about it but you had to read the pds. Theres a separate one or separate section for citibank customers.

        I uses this in Hk in Feb. Was fine.

  • jackary on 30/06/2024 - 18:32
    +3

    I’ve used Macquarie extensively through Asia. Worked a treat. The instant transaction notifications (complete with the conversion back to AUD) is awesome.

    Just be 100% sure you tell them exactly where you’re going through the app. I accidentally diverted from where I originally told them I was going and they blocked my card. PITA to fix overseas. If you don’t want to have to resolve this til you get home take a backup card (ubank is good but there are others) as a just in case.

    They’re all much of a muchness to be honest.

    • bbinc on 01/07/2024 - 08:44

      Recently had a card blocked and cancelled while travelling. It was replaced with a virtual card in Apple Pay same day. A number of providers do this now.

  • shmoney on 30/06/2024 - 19:31

    Macquarie

  • R-Man on 30/06/2024 - 22:25
    +6

    I am here to de-influence Wise as a travel debit card. You first pay $10 to receive the physical card. You then have to load local currency and pay their (tiny) conversion fee. Unless you are keen to hedge against volatile FX rates, this is more of an inconveniece than a feature.

    You can only withdraw max $350 AUD, and only 2 withdrawals in a month, then they charge you $1.50 + 1.75% fee each withdrawal there after.

    Up, Macquarie and Bankwest have debit cards that are free to obtain, charge no international fee, and no international ATM fee. I can vouch for Up having a good exchange rate (i.e. very close to what you'd see on xe). I am not sure if Bankwest has good fx rates, as their parent CommBank has some of the worst.

    • Save 50 Cent on 01/07/2024 - 07:23
      +1

      Good solid advice.. Macquarie as main card and Wise as a back-up is how I do it.

  • dtc on 30/06/2024 - 23:20
    +1

    I have used UBank in quite a few E/SE Asian countries and works well. Gets good rates, free to obtain, link to payment apps etc The app is simple to use, but is also quite a simple app so if you want to do lots then its not super great (also doesnt have face ID !)

    Macquarie is also good. Up also seems good.

    Really there is no difference between them other than slightly different apps.

    • jackary on 01/07/2024 - 01:49

      UBank supports Face ID? Is this an iPhone-only thing?

      • kerfuffle on 01/07/2024 - 07:55

        I have UBank on my Pixel 8 Pro and can log in with my face.

  • ClintonL on 01/07/2024 - 01:40
    +1

    Done a bit of research and can't tell between the difference between UP and Macquarie. UP is Mastercard and Macquarie is Visa, not sure if there is much difference.

    • jackary on 01/07/2024 - 01:47
      +2

      Macquarie is Mastercard too

      • ClintonL on 01/07/2024 - 01:56

        Yeah was mistaken I'm assuming they'll both in essence be the same then. Will grab a Macquarie card since I have a bit more confidence in them than UP.
        The new NAB is visa though, not sure if there is any difference in spread between the NAB visa vs the Macq Mastercard. I'll do a test when I'm there unless someone's already done it.

        • jackary on 01/07/2024 - 02:17
          +2

          Up is a division of Bendigo and Adelaide bank, they’re not going anywhere. But Macquarie would be my preference too :) it’s a much better app (I’ve used both).

          Re Visa vs Mastercard, if the cards themselves have no foreign exchange fees, they will be much the same. Some days Mastercard will be better, others it will be Visa.

  • pandadude on 01/07/2024 - 08:48

    I used the citibank guide to find atm who don't charge fees.

    I used mutiple debit card and there all exactly the same. The exchange rate between mastercard and visa card is tiny so unless you buying expensive things it isn't worth your time.

    While overseas l used uBank, meBank, HSBC (Note HSBC uses it own rate for purchase and visa for atm withdrawal)and Macquarie. While in Taiwan we withdraw cash from the Cathay atm which is nearly located at every single atm station in Taipei. No atm fee.

    I think its mindful to consider when using Wise there is a limit of how much cash you can withdraw. With normal debit cards l believe you can take out a lot more cash.

    The mastercard and visa card rate was better than the money exchanger rate in Taipei. Also you generally need to go to the bank or have the money exchange at the money exchange at the airport. Note Taipei does use a lot of cash so wise may not be a great option.

    When compared to Malaysia its better to do money exchange in cash at Mid Valley. However, everyone accept card exempt for hawker stalls and night markets.

    Note uBank on Andriod doesn't actually show you the foreign currency amount.

  • El cheepo on 01/07/2024 - 09:49

    ING - But pay by card as often as you can.
    You get the daily exchange rate and no fees

    You still get 5 free withdrawals for cash out and if you pay by card all international fees are reversed.

  • Blokeinhisundies on 01/07/2024 - 19:09

    Have used Macquarie, Ubank and ING all without issue. Would recommend them in that order as well although they are all pretty same same in regards to simply using the card OS. The differences are more in their saving account hoops and rates.

  • Mugsy on 01/07/2024 - 19:17

    OP, I encourage you to read this well written post on the Whirlpool forums that goes through the different types of fees one can expect with using a debit card internationally…

    https://forums.whirlpool.net.au/thread/974pw5wp?p=52#r1022

    It's an educational read.

    Without going through the fee schedule, I would not trust that blanket "no international fees" statement on so many transaction accounts. For example, the NAB Platinum Debit card (the $10/mth one with complimentary travel and purchase insurance) has no international transaction fees on card taps but it does have a $5 international ATM withdrawal fee and I'm pretty sure a currency conversion fee that is a % of the amount you withdraw. It is HORRIBLE to use for withdrawing cash.

    It's also a good idea to have BOTH a Mastercard and VISA debit card as some establishments only take one or the other. Also some ATMs will be fee free for either MC or VISA (e.g. 7bank ATMs are fee free for Mastercard between 7am and 7pm in Japan)

    If you don't want to think too much, I suggest getting a Macquarie debit card to use as your main travel debit card, with the NAB Classic that you got when your Citibank Plus account was closed for the VISA option. Both of these cards use the Mastercard or VISA exchange rates which is about as good as it gets. If you want to add on a HSBC Everyday Global card, you can use this at most HSBC ATMs worldwide (with a handful of countries excluded) for fee free withdrawals. This is the setup my Dad uses when he and mum travel abroad every second month, and will be what I will use on my international travels.

  • heroheroine on 27/09/2024 - 15:02

    In Singapore now with Macquarie platinum DC, loaded 4K, no local ATM cash withdrawal fee on UOB and HSBC, $5 on DBS, $8 on UCBC

Login or Join to leave a comment
Login Join