26 replies

Trevor J

Qantas - Qantas Frequent Flyer

Member since 02 Oct 2017

Total posts 1

I have just returned from 30 days overseas - I went to 9 countries in Europe of which only 4 used the Euro.
But I could only load Euro on my QC card - I accept that.
No problem using the card in all countries but at the relevant exchange rate - I accept that.
But I had some money left over so I looked at converting it back to $AUD.
Big (bad) surprise.
Try this for an exercise (no need to do it - just an exercise)
Load AUD$1000 and you will get 631.50 Euro
Immediately transfer or cash-out 631.50 Euro and you will get AUD$894.85
11.7% fee and I haven't bought anything !!!!
(Rates as at 01 Oct 2017)
No thanks Qantas Cash

GregXL

Qantas - Qantas Frequent Flyer

Member since 26 May 2014

Total posts 294

Just did the same exercise for cash rates at Westpac and finished with $897.44. Better to leave unused EUR on the card and use or convert to another currency for a future trip.

moa999

Qantas - Qantas Frequent Flyer

Member since 02 Jul 2011

Total posts 835

The card is slightly better than your regular FAX merchants, but Qantas are definitely charging a premium for the convenience.


Plenty of other options out there

Sibelius

Virgin Australia - Velocity Rewards

Member since 06 Aug 2017

Total posts 86

I agree that the cash conversion charges are ridiculous.

It's always better to leave leftover money on the card and to then spend it later when you want to buy something online from an overseas/online seller.
Even better -- try to ensure that the money on the card runs out JUST before you come home. Put whatever else you need to spend on a normal credit card (especially if that card doesn't charge foreign cash conversion fees).

Chris Chamberlin

Member since 24 Apr 2012

Total posts 1,079

Would a different exchange rate apply if using your card to withdraw cash via an Australian ATM (in AUD) versus 'converting' your cash from EUR to AUD within the Qantas Cash portal?

(E.g. the exchange rate for 'spending' in a non-preloaded currency - such as by withdrawing AUD at an ATM - compared to the exchange rate for 'converting' your foreign currency back into the card's AUD wallet?)

Realise that handling banknotes might be a bit of a muckaround, but if the rate is significantly better when doing so, the extra few minutes it takes to deposit them back into a different account (even at the same ATM, if it allows it) could be worth the hassle.

Dr Al

Qantas - Qantas Frequent Flyer

Member since 07 Mar 2017

Total posts 31

I'm totally over Qantas cash. 4th trip in 2 years using 4 different cards because they keep replacing the card due to it not working. Every time I try to use it I get an incorrect pin message, yet at an ATM can use the pin to withdraw cash so yes I am using the correct pin! would have been less inconvenienced just taking cash in the first place. Their telephone support just follow a script. As for the exchange rates. They are ridiculous. I'm going to have to take the loss and change the balance back to Au$. Will never use their service again. There are much more reliable money cards out there.

patrickk

Qantas

Member since 19 Apr 2012

Total posts 465

The other thing if you need to activate a new card they stop payments to the old card regardless of how long it takes for a new card to arrive in my case nearly three weeks.

Blake

Member since 03 May 2017

Total posts 39

There is nothing special about Qantas fees, and they are not over the top, they are par for the course.
ALL travel card fees are over the top. NONE are a good deal.

For sure the Travel Cards are a dog of a product but its quite unfair to single out Qantas here, relative to the others its quite good.


BRCW

Qantas - Qantas Frequent Flyer

Member since 04 Oct 2016

Total posts 13

Use a Citibank Plus Visa Debit card. No forex fees (i.e. the actual interbank rate not 2% cash rate or 3% credit card rate). Just put AUD on it and withdraw your own cash in local currency from any Visa labelled ATM globally. The worst you will pay is an ATM fee but that is country and ATM specific. My cross checks over the years have shown that you get foreign currency at ±0.1% of the direct interbank rate. Withdraw unused cash for free at any Westpac ATM in Australia.

phil h

Member since 06 Mar 2017

Total posts 8

I've found that the 28 Degrees MC is pretty good for exchange rates and no additional fees,
but I haven't done a comparison study lately and there may well be better options now. As noted in The Australian recently, Aussie banks are notorious at ripping us off with exchange rates. The 28 Deg card used to be GE Money, but it's now Westpac so this may be a concern. Anyone else had this experience?

Rusty1

Qantas - Qantas Frequent Flyer

Member since 06 Jul 2014

Total posts 3

I'm totally over Qantas cash. 4th trip in 2 years using 4 different cards because they keep replacing the card due to it not working. Every time I try to use it I get an incorrect pin message, yet at an ATM can use the pin to withdraw cash so yes I am using the correct pin! would have been less inconvenienced just taking cash in the first place. Their telephone support just follow a script. As for the exchange rates. They are ridiculous. I'm going to have to take the loss and change the balance back to Au$. Will never use their service again. There are much more reliable money cards out there.

My wife and I had same problem in July in Singapore when both cards kept receiving an incorrect PIN message. The PINS were correct and telephone support staff just kept offering to send us replacement cards. After lodging a formal complaint I was told there had been an encoding error in the cards and given an AUD300 credit for our troubles. But it seems like they still have the same problem.

BRCW

Qantas - Qantas Frequent Flyer

Member since 04 Oct 2016

Total posts 13

I've found that the 28 Degrees MC is pretty good for exchange rates and no additional fees,
but I haven't done a comparison study lately and there may well be better options now. As noted in The Australian recently, Aussie banks are notorious at ripping us off with exchange rates. The 28 Deg card used to be GE Money, but it's now Westpac so this may be a concern. Anyone else had this experience?

It is still great, but only for credit purchases as cash advances now cost 3%.



austrav

Singapore Airlines - KrisFlyer

Member since 02 Nov 2016

Total posts 2

Anyone tried the same exercise on the Velocity Global Wallet?

maq

Jetstar Airways - Qantas Frequent Flyer

Member since 05 Jul 2017

Total posts 4

[QUOTE=18253;41224]
I have just returned from 30 days overseas - I went to 9 countries in Europe of which only 4 used the Euro.
But I could only load Euro on my QC card - I accept that.
No problem using the card in all countries but at the relevant exchange rate - I accept that.
But I had some money left over so I looked at converting it back to $AUD.
Big (bad) surprise.
Try this for an exercise (no need to do it - just an exercise)
Load AUD$1000 and you will get 631.50 Euro
Immediately transfer or cash-out 631.50 Euro and you will get AUD$894.85
11.7% fee and I haven't bought anything !!!!
(Rates as at 01 Oct 2017)
No thanks Qantas Cash
[/QUOTE]

I also loaded my QF cash card and used it in Europe. On average l was being charged $8 atm fee. So lm getting robbed on both ends - loading up and cashing-out. In contrast, l used my local bank ATM card (ING) get a favourable exchange rate and just A$2.50 international ATM fee. Bye bye QF cash-card. Poor product.

maq

Jetstar Airways - Qantas Frequent Flyer

Member since 05 Jul 2017

Total posts 4

[QUOTE=14670;41319]
Use a Citibank Plus Visa Debit card. No forex fees (i.e. the actual interbank rate not 2% cash rate or 3% credit card rate). Just put AUD on it and withdraw your own cash in local currency from any Visa labelled ATM globally. The worst you will pay is an ATM fee but that is country and ATM specific. My cross checks over the years have shown that you get foreign currency at ±0.1% of the direct interbank rate. Withdraw unused cash for free at any Westpac ATM in Australia.
[/QUOTE]

I agree the 28 Degrees card is tops for international purchases with no fee's added. I don't think they've been taken over by Westpac though, rather its a Deutche Bank consortium

Hi Guest, join in the discussion on Qantas Cash fees are over the top

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