Using Visa Debit / EFTPOS overseas


#1

Is the “TT and cheque” sell rate used for overseas ATM transactions?

https://www.bnz.co.nz/personal-banking/international/exchange-rates


#2

Hi there Michael
When you are putting through a transaction on your cards overseas, the exchange rate is dictated by Visa International.
You can have a look at the calculator they have on their website below:
https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/
*Please note the bank fee with BNZ is 2.25%


#3

Thanks @Krystal.

I was pretty shocked when I found out your overseas ATM fee is $7.50. Competing cards offer as low as $2.50.


#4

Michael, we do offer the Cash passport card, which maybe suitable for you depending on where you are heading, and what currency you need.  There are no fees to withdraw from this card using overseas ATM machines (from the cash passport side of things)
To read up more about this product
https://www.cashpassport.co.nz/how-does-cash-passport-work/fees-and-limits/


#5

TravelEx/Western Union Cash passport is even worse. While it claims no international ATM fees, they sure make up for it other ways. If I wanted to use a prepaid card, I’d choose Qantas Cash Passport or Air New Zealand Onesmart. BNZ should be able to reduce that fee to be inline with other cards.