Fees payable when you transact with overseas merchants in Aus dollars

[MMDown Under]

I have just received advice from Commonwealth Bank that international transaction fees will be charged on transactions processed to your account by overseas merchants, from 28/8/16, even where the transaction is in Australian dollars.

 

Does this apply to other Australian banks?

[888sydney]

For ANZ, no surcharge so far.

[Bagwhan]

I have just received advice from Commonwealth Bank that international transaction fees will be charged on transactions processed to your account by overseas merchants, from 28/8/16, even where the transaction is in Australian dollars.

 

 

 

Does this apply to other Australian banks?

 

 

I have had an International Transaction Fee applied to my NAB credit card when making progress payments for my celebrity cruise even though the transaction was in AUD. When I noticed this on my credit card statement I started to use my 28 Degree MC without incurring any International transaction fee for the cruise payments.

 

 

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[Mum81]

We also have paid these fees on our NAB credit card when purchasing drink and dining packages even though they were purchased in AUD.

[OzKiwiJJ]

Yes, Citibank credit card started charging it a year or so ago, so we got a 28 Degrees Mastercard and use that now.

[aussiedisneyfan]

We have been hit by fees with our ANZ card many times, however just paid our Royal cruise with it and had no fees. Also use the 28 degree card for merchants that I know process overseas.

[Relaxing Robbies]

Jetstar MasterCard changed their terms like that a year or so ago. I haven't been caught out yet, but if in doubt I use a different card like 28 degrees.

[mrs and mrs]

Yes, Citibank credit card started charging it a year or so ago, so we got a 28 Degrees Mastercard and use that now.

 

Can you tell us about this 28 degrees card please.:)

[Bagwhan]

Can you tell us about this 28 degrees card please.:)

 

 

A fee free MC operated by GE Finance (mind you there is a 95c transaction fee if you make payments to your account via BPay.

 

https://www.28degreescard.com.au/?&gemid1=Jun15-28d-sem-google-28D_BRA&mkwid=sdCupb6HE-dm_pcrid_58036125409_pkw_28%20degrees%20mastercard_pmt_e_

 

Whirlpool review of 28 Degrees MC

http://whirlpool.net.au/wiki/28_degrees

 

Hope this helps

 

Cheers

John

 

 

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typos are inspired by fat fingers!

[The_Big_M]

I'd say the majority of banks seem to.

[GUT2407]

Recently booked with NCL, they warned me that even though I was booking in Australia and $Aus my bank might hit me with a fee.

[MicCanberra]

When travelling, we use the 28 degrees Master card for purchases and the Citibank card for cash advances, seems the best and easiest way to avoid a lot of the usual fees.

[BINDY31]

yep....Westpac have been charging me for payments to Celebrity...now waiting for a new Amex to arrive before I make my final payment...no charges with that one, unless paying in US dollars

[Missusdubbya]

When travelling, we use the 28 degrees Master card for purchases and the Citibank card for cash advances, seems the best and easiest way to avoid a lot of the usual fees.

 

We do exactly this (and have a Bankwest Platinum zero which is the same as the 28 degrees as well, which also offers travel insurance).

 

When paying for my cruises on the RCI site (in AUD) I use either 28 Degrees or Bankwest to avoid the international transaction fee.

[reedy8]

I have just received advice from Commonwealth Bank that international transaction fees will be charged on transactions processed to your account by overseas merchants, from 28/8/16, even where the transaction is in Australian dollars.

 

Does this apply to other Australian banks?

How rude of them, I would ring them and tell them if they don't credit off the fee you are quite willing to look at another bank.

[Womble99]

I have just received advice from Commonwealth Bank that international transaction fees will be charged on transactions processed to your account by overseas merchants, from 28/8/16, even where the transaction is in Australian dollars.

 

Does this apply to other Australian banks?

 

It is much the same as making a purchase overseas when the friendly sales staff give you the option to make the purchase in AUD or local currency, you can pick AUD but it is still an overseas transaction so you will incur a fee if that is a t&c of you financial institution.

 

Some will allow them gratis ie 28degrees others have a fee, unfortunately the fee option is becoming the trend as the multi billion dollar profits just don't see to be cutting it for the banks :rolleyes:

[cruisine21]

yep....Westpac have been charging me for payments to Celebrity...now waiting for a new Amex to arrive before I make my final payment...no charges with that one, unless paying in US dollars

 

I accidentally paid a deposit for my Celebrity cruise last year with my Westpac Mastercard instead of my Amex. Just recently we received a notice from Westpac saying that the details of the transaction fees were not initially clearly explained and fees would be refunded. A couple of weeks ago I received a refund of $30 + interest to my card.

[MicCanberra]

I accidentally paid a deposit for my Celebrity cruise last year with my Westpac Mastercard instead of my Amex. Just recently we received a notice from Westpac saying that the details of the transaction fees were not initially clearly explained and fees would be refunded. A couple of weeks ago I received a refund of $30 + interest to my card.

 

Good result.

[MMDown Under]

When those in power finally decide to have a Royal Commission into the banks, I'd like them to add to the list "How much does it cost the bank to process a payment in Australian dollars made to an overseas merchant?"

 

Does the overseas merchant pay a fee to the bank for receipt of this money?

 

I use 28 Degrees overseas and Commonwealth Mastercard in Australia. I assume 28 Degrees is making a profit, without charging International Transaction Fees.

[Womble99]

When those in power finally decide to have a Royal Commission into the banks, I'd like them to add to the list "How much does it cost the bank to process a payment in Australian dollars made to an overseas merchant?"

 

Does the overseas merchant pay a fee to the bank for receipt of this money?

 

I use 28 Degrees overseas and Commonwealth Mastercard in Australia. I assume 28 Degrees is making a profit, without charging International Transaction Fees.

 

They all make profits, it just depends which area they provide a service as part of your t&c's. Nothing ever comes for free in banking ;)

[mrs and mrs]

So I'm resurrecting this one again.

Am interested in Aus/Post travel,load and go Visa cards.

Seem quite reasonable.

Anyone with any experience with these.:)

[ozziepost]

You would be far better off getting a Citibank plus card which is a visa debit card. There are no charges and the exchange rate is close to the official rate. You apply on line and take the form to any Aust Post office for processing. This product gets great reviews on trip advisor and is worth looking.

 

When you travel overseas just let Citibank know the countries and dates you are travelling there is an app for the product so that you can monitor your transactions.

 

Because it is a debit card it's a case of loading the product with sufficient cash for your trip.

 

 

 

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[Womble99]

You would be far better off getting a Citibank plus card which is a visa debit card. There are no charges and the exchange rate is close to the official rate. You apply on line and take the form to any Aust Post office for processing. This product gets great reviews on trip advisor and is worth looking.

 

When you travel overseas just let Citibank know the countries and dates you are travelling there is an app for the product so that you can monitor your transactions.

 

Because it is a debit card it's a case of loading the product with sufficient cash for your trip.

 

 

 

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They are great for accessing currency overseas as well as purchasing some items however as it is a debit card it does have some draw backs. If you use it as a hold on a hotel account etc it is your funds held up until released not your credit limit.

 

It is these situations where the 28deg card etc are much more useful.

[mrs and mrs]

Cheers,its getting a bit late to order C/Cards from banks.These seemed quick and secure.:)

[ozziepost]

The Aust post load and go product is a reasonable product and is ideal for those who want a non bank issued credit/debit card just be aware of any fees and charges for the card the post website or staff at your local PO will be able to provide more info.

 

Enjoy your trip.

 

 

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