Feature request: International travels - debit/credit card in foreign currencies (that I can load those currencies directly)

Hi, I moved back to NZ a few years ago after a very long OE. I’ve still had to keep bank accounts in other countries because I can’t find a NZ bank that will let me spend my own foreign-denominated money.

By that I mean, I have savings in GBP and EUR that I want to keep in those currencies for when I’m travelling in the UK and Europe. Many NZ banks will let me open GBP or EUR bank accounts BUT I can only transact on those accounts via internet banking transfers. There seems to be no way to actually SPEND that money via EFTPOS/credit card/debit card/online services requiring a card number/ATMs. So it’s therefore no use when travelling.

I was sold a “cash passport” travel money card, but turns out it doesn’t help, as the only way to load funds is via a NZD bank account and then converting the NZD to the foreign currency. Which means I suffer two fx transactions (and associated risk + margin costs).

My bank in Europe - just an ordinary bank account, nothing special - allows me to hold funds in multiple currencies. When I use my debit card (in an ATM, in a shop, or online) it first debits the currency of the transaction, then if insufficient funds there it reverts to debiting my base currency.

Given that Kiwis are such prolific travellers I should think there would be a demand for an account like this in New Zealand. It would be useful to know whether this is even on the development plan for BNZ [or other banks in NZ] or if I should keep open my overseas bank account even though I’d rather not!

@nano; Fully understand yourfrustration(s); having lived in “many parts” of the world even though am “kiwi* tru&thru!
I kinda had smae issues (thugh my ‘international’ travells started way back in '80 ) so now when I tried asking about the ‘samequestions’ you had back in 2014 - BNZ staff seemed either didnt know nor would theycare to point youat the various 'Options” that BNZ has had over the years.
In short - please look at this web links:-
BNZ-International
There are facilities (though I only US$ only now) for UK & EURO I am not sure why a lot of BNZ staff arent aware of these ‘account’ but then often I get the feeling when tyou ask any questions to staff- they give the impression(s) that am being a ‘difficult customer’!
However, I often now travel with US$ Credit Cards and never with much ‘cash’ - so even while you OE ; you can do ONLINE BANKING and pay the bills for home items.
Also - often if you have non-Kiwi currency account- its loaded with ‘legal’ issues and controls nowadays due MOSTLY for ANTI_MONEY _LAUNDERING !
I often hate this last bit- as I aman AVID traveler (in 4Mil Mile Club long time ago)
Hope this is helpful!Happy travels

Hi there, thank you for bringing this to out attention. I’m afraid at this stage this not something we are looking into but I have passed on your feedback to the appropriate team to look into for the future. :slight_smile: -Adina.

Thank you @miked807 - yes the BNZ-International facility is great for making foreign payments via TT/internet banking, but no good when I just want to spend my money in a shop!!

I will just keep my primary banking offshore for now, which means BNZ gets less of my business but hey ho!

Happy travels to you too!

Thanks @Adina - yes I regularly get told “thank you for your feedback”… hopefully one day something will change for the better - I’m definitely not the only one in this boat, but until BNZ is transparent about the fx margin being applied people won’t know how much they’re really paying by loading up their travel cards with NZD… Cheers

Keep in mind these are the views of fellow BNZ Community users, and not BNZ.