ATM card for Aussies

[Lyndalals]

Hi guys, wanting to hear from other aussies who have done the camino and what was the best bank card to use for ATM withdrawals? I have read a lot of reviews and am just confused. We want to use one that is readily accepted and minimal fees on withdrawal. Any suggestions would be greatly appreciated.
Cheers
Lyndal

 

[marbuck]

I think no matter who you use, you are going to pay fees. Lots of banks offer low cost withdrawal fees but in the long run you still pay, that's how they make their money. We look at bank fees as just part of the cost of a Camino.

 

[frasert]

Hi Lyndal
In 2013 i used my CBA card (savings) and CBA Travel Money card (preloaded with euro). They give you 2 cards so you can keep them in seperate places for safety.
remember 4 digit pins are best in Europe.
Try to use ATMs while the bank is open in case it swallows your card (never happened to me) and let you bank or card issuer know that you will be overseas in case they block your card.

Fees? Its worth it so you don't have to risk carrying lots of cash for a month. plan you withdrawals, a $7-8 fee is extravagant if only taking out $100 but probably acceptable for $400.

have fun planning.

 

[Cejanus]

Hi Lyndal, I used the CBA Travel Card and on occasions there was no charge. I just checked my statement and noticed that on a couple of occasions the charge was $2.00. I did have one experience where the charge was going to be really exorbitant (it is displayed on the screen before Iconfirmed the transaction) and so I just cancelled the transaction and went onto another ATM. Happy planning.

 

[Lyndalals]

Thank you for the informative replies. I guess it is really not too much of a difference what Aus bank I choose, as you guys have stated that generally there will be withdrawl fees. Any idea what the main banks along the camino in Spain are? And what is the daily withdrawl amount allowed? Thanks again for the info guys.
Cheers
Lyndal

 

[Kanga]

Hi @Lyndalals - we'Ve frequently used our normal Commonwealth Bank card with no problems. If you want to get clever and avoid fees then a preloaded travel cash card is the way to go. We are using the Qantas cash card this time but have successfully used the Commonwealth Travel Money card in the past.

Here's the comparison of all the cards, fees and charges, by the Australian Consumer's Association https://www.choice.com.au/travel/money/travel-money/articles/travel-money-cards

 

[Kanga]

I think all major Australian bank cards will be accepted. But be aware that not every place you stay will have an ATM - we usually carry a few days worth of cash. And on camino cash is king - cards are only of use for staying in expensive hotels in major cities. Also Spanish ATMs only take a 4 digit pin.

 

[Lyndalals]

Hi Kanga,
That link is brilliant! Thankyou so much. Now unfortunately I have too many options! !!
I like the look of the Qantas card, have you heard of any other people who have used it in Spain? I have not heard of anyone travelling with it before so have no idea on reliability with ATM use. I'm assuming ALL ATMs accept it in Spain?
Thanks again for the info.
Cheers
Lyndal

 

[norelle]

Lyndal
Check out the citibank savings debit card for cash withdrawals - no fees or transaction charges.....and some ATMs in Spain didn't charge withdrawal fee (I think it was Santander bank).

buen camino

 

[AJ]

Hi @LyndalalsIf you want to get clever and avoid fees then a preloaded travel cash card is the way to go.

Not necessarily as the bank whose ATM you are withdrawing from may charge a fee even though your card company/bank doesn't.

 

[rosalind85]

I agree that the Citibank plus everyday account is the best for aussies travelling overseas. Much less fees. I used an ANZ travel card on my last Camino but this time will definitely use Citibank. Highly recommended to me by a friend who has travelled extensively in Europe.

 

[Lyndalals]

Hi Guys,
Thanks so much for the advice. I have contacted citibank and it seems that this is the best card to use ie no annual/monthly fees.

Money is transferred from another account or bank in AUD and does not get converted until you withdraw from ATM for which there is no conversion fee.

On the citibank website you can even look up where citibank affiliated banks are which means no ATM fees (It even had a map for how to get to the bank, which if we have internet will be very useful). I did do a lot of research re: the best card to get and read that citibank was highly rated but you had to open another account for this which was not true.

I just called up and they processed my application in 10-15mins. I hope to get the card in 5-10 days. Fingers crossed.

Thanks again and thanks @norelle and @rosalind85 for suggesting citibank to me.

 

[jsalt]

And what is the daily withdrawl amount allowed?

Hi, with my Travel Wallet card (preloaded with euros) I could draw 5oo euros in Spain, from one ATM, which lasted me a good 2 weeks, spending about 30 euros per day. In Portugal all the ATMs would allow me to draw 200 euros only. All the ATMs charged 2 euros for the transaction. If it is more than that the ATM will advise you, as stated above, before making the transaction. Jill

 

[Alan Pearce]

Hi Guys,
Thanks so much for the advice. I have contacted citibank and it seems that this is the best card to use ie no annual/monthly fees.

Money is transferred from another account or bank in AUD and does not get converted until you withdraw from ATM for which there is no conversion fee.

On the citibank website you can even look up where citibank affiliated banks are which means no ATM fees (It even had a map for how to get to the bank, which if we have internet will be very useful). I did do a lot of research re: the best card to get and read that citibank was highly rated but you had to open another account for this which was not true.

I just called up and they processed my application in 10-15mins. I hope to get the card in 5-10 days. Fingers crossed.

Thanks again and thanks @norelle and @rosalind85 for suggesting citibank to me.

Just to get this settled in my mind. Everyone else that allows you to draw money in another currency will charge a comversion fee. The cards that allow you to pre-load different currencies will charge a conversion fee when you use Aussie dollars to purchase those currencies . Citibank does not charge conversion fees?

Alan

Be brave. Life is joyous.

 

[norelle]

Just to get this settled in my mind. Everyone else that allows you to draw money in another currency will charge a comversion fee. The cards that allow you to pre-load different currencies will charge a conversion fee when you use Aussie dollars to purchase those currencies . Citibank does not charge conversion fees?

Alan

Be brave. Life is joyous.

Alan - That's correct. I've used mine on three O/S trips - no conversion fees.

buen camino

 

[Lyndalals]

Just to get this settled in my mind. Everyone else that allows you to draw money in another currency will charge a comversion fee. The cards that allow you to pre-load different currencies will charge a conversion fee when you use Aussie dollars to purchase those currencies . Citibank does not charge conversion fees?

Alan

Be brave. Life is joyous.

Yes to all. I read online there is an initial 'cross currency conversion fee' which depending on that specific bank can be anything from i think a minimum of 1% capped at $10 or $15 or not capped at all. That is for your initial or subsequent reloads if currency. So can be quite expensive if loading a bit of money.

I think the difference with citibank compared to all the other travel cards ive read about is they don't convert your $AUD at all except when you withdraw overseas. The remaining amount in your account is still in AUD.

It is not advertised as a travel card (citibank) it is actually just a savings account - so the guy told me yesterday when I signed up. But is usable as a travel card due to no fees etc... If that makes sense?

Cheers Lyndal.

 

[Donna Sch]

The Citibank card sounds almost too fantastic. Are they trying to get people to shift over from the other banks?

 

[Donna Sch]

More about the Citibank Plus:

http://whirlpool.net.au/wiki/citibank_plus_transaction_account
http://forums.whirlpool.net.au/archive/1809874

Between the two you can get a really good idea of the problems that can occur.
And more...
http://www.tripadvisor.com.au/ShowTopic-g255055-i120-k7500124-Citibank_Plus_problem-Australia.html

Not to say that it can't happen with other banks and cards, but it's a reason to have a back up plan!

 

[Lyndalals]

More about the Citibank Plus:

http://whirlpool.net.au/wiki/citibank_plus_transaction_account
http://forums.whirlpool.net.au/archive/1809874

Between the two you can get a really good idea of the problems that can occur.
And more...
http://www.tripadvisor.com.au/ShowTopic-g255055-i120-k7500124-Citibank_Plus_problem-Australia.html

Not to say that it can't happen with other banks and cards, but it's a reason to have a back up plan!

Hi Donna,
Interesting reads and thanks for the links. I have read in these forums about ATMS in spain not giving money yet charging your card but was not citibank - so might be bank related? (Hope so! Or is that hope not?! )

We hope to not have to do any Internet banking along the camino (fingers crossed) so hopefully don't have to worry about the issue of difficulty with website Etc.

And about ID verification, my understanding is that it was done over the phone with our drivers licence, but I will let you guys know in the next few weeks when our cards arrive if this is true!

cheers
Lyndal

 

[Donna Sch]

At least with the Citibank card you can test the ATM with a small amount before you go pulling out a few hundred Euros without incurring the fees. I'm thinking of getting one myself just for travel purposes. It's either that or the Velocity card because I can get the points. Just need to do some reading on that one. May be handy to have as a spare. I don't want to take my usual Westpac card as it is connected to my main account. Although Westpac's fraud department were excellent when someone recently tried to extract a couple of hundred out of my account and blocked the transaction and cancelled the card.

 

[Lyndalals]

It's either that or the Velocity card because I can get the points.

Check the details about the velocity card earning points as i read about the Qantas card and it seems the only way you earn points is using it to purchase items, not withdrawing from ATMs.
cheers
Lyndal

 

[Alan Pearce]

I need more advice please. When Alan Kohler comes on the finance report in the ABC news at night he will say that the exchange rate on the Euro is such-and-such. But if you try to get that rate by buying dollars from a bank [or the post office who claim to give you a better deal than the banks] or loading them on to a card, you can't! It is usually about 4 euros less for every A$100. Now silly old me always assumed that the difference was the currency transfer fee, but not so. I have been assured by NAB and the travellex cashcard people that the difference is because when they but euros from overseas, they cannot get Alans' rate either - instead they are offered the discount rate that they then pass on to us. So, according to them, they are not charging a currency transfer fee. Travellex especially were adamant that they do not charge this fee, but they do charge reload fees, and to buy the card originally. Also they do not charge withdrawel fees from ATMs overseas, but they do in Australia, if you are silly enough to do it!
Another thing they pointed out was that they do not charge a yearly fee, such as many credit cards do, sometimes several hundred dollars a year.
I am a financial babe. Please do not treat me unkindly in your replies.

Alan

Be brave. Life is joyous.