UBank Visa debit now a viable travel card option?

8 replies

ashmidalia

Qantas - Qantas Frequent Flyer

Member since 29 Jan 2016

Total posts 4

UBank sent me an email today advising that it has abolished its 2% foreign exchange fee as well as its $4 fee for using overseas ATMs for the Visa card attached to its Ultra transaction account. Does this make it a viable option for travel alongside 28 Degrees and Citibank?


I guess the advantage of 28 Degrees is that it’s a credit card so you don’t have to load up the account before you go. And the advantage of Citibank is that, if you can find a Citi ATM overseas, the ATM owner won’t charge you either.

But these strike me as pretty minor differences.

I assume it works off the same (Visa) exchange rate - so presumably no scope for gouging there.

Any thoughts? What am I missing?

mviy

Member since 05 May 2016

Total posts 281

The Ultra USaver earns a good interest rate for a savings account and you could transfer funds to the Ultra as needed using the mobile app/website


Will be interesting to hear reports as to how well this works or not.

Last editedby mviy at Aug 22, 2018, 09:05 PM.

Greg84

Member since 03 Nov 2014

Total posts 127

Yeah, saw this today. Looks like a good option for travel assuming they're using the Visa rate

ashmidalia

Qantas - Qantas Frequent Flyer

Member since 29 Jan 2016

Total posts 4

The Ultra USaver earns a good interest rate for a savings account and you could transfer funds to the Ultra as needed using the mobile app/website


Will be interesting to hear reports as to how well this works or not.

Last edited by mviy at Aug 22, 2018, 09.05 PM.

I'm tempted to try it out when I head to the US, UK and Dubai in October. I'd probably stick with the Citibank card for ATM withdrawals just to avoid the overseas banks' ATM fees.


ecbailey

Qantas - Qantas Frequent Flyer

Member since 12 Jan 2016

Total posts 32

I have been using the ubank card for overseas trips for a few years and it works really well. Was very pleased to be charged $204 AUD for withdrawing $200 CAD when the exchange rate was about parity a couple years back.

CBR boy

Member since 12 Feb 2015

Total posts 61

ING Orange Everyday transaction account with Visa Debit card: no fees, Visa exchange rates, and they even rebate foreign banks' ATM fees. Proviso is deposit >$1000 and make 5 card purchases a month. Plus they have a current offer of a $75 bonus for new sign-ups. Google's your friend as it's not otherwise found on their website.

Last editedby CBR boy at Aug 24, 2018, 03:39 PM.

ashmidalia

Qantas - Qantas Frequent Flyer

Member since 29 Jan 2016

Total posts 4

ING Orange Everyday transaction account with Visa Debit card: no fees, Visa exchange rates, and they even rebate foreign banks' ATM fees. Proviso is deposit >$1000 and make 5 card purchases a month. Plus they have a current offer of a $75 bonus for new sign-ups. Google's your friend as it's not otherwise found on their website.
Last edited by CBR boy at Aug 24, 2018, 03.39 PM.

Yeah, too many conditions for me. Don't want to have to shift my everyday banking to ING for the occasional convenience. Good tip, though!

cablecartman

Qantas - Qantas Frequent Flyer

Member since 21 Jul 2018

Total posts 5

The Citibank Debit card is amazing. I've just spent four weeks in Scotland, Bordeaux, Barcelona and Russia, have withdrawn in pounds, euros and roubles and haven't paid a cent in foreign fees!

Mitchd31

Virgin Australia - Velocity Rewards

Member since 30 Jul 2015

Total posts 10

HSBC global debit is amazing also


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