Hi, i am going to Japan and plan to use my bankwest zero master credit card to withdraw money.
(1) I was advised that if i put in money more than the credit card limit, when i withdraw, i wont be charged the advance cash fee etcs. Can please confirm if this is true?
(2) If i withdraw the extra money from the credit card using ATM, what are other fees that i can be charged? And how much?
(3) Is the conversion rate based on master on the day or Bankwest will put in a margin?
Solved! Go to Solution.
Hey @EN great questions!
1) If the available balance remains above the credit limit once the withdrawal has been completed, only the cash advance fee of $4 will apply. If the available balance drops below the credit limit, the fee will be 2% or $4 (whichever is higher) and cash advance interest will apply.
2) Depending on your card type, the 2.95% foreign transaction fee may also apply.
Fees charged by the ATM provider are unknown to us but should display on the screen before you confirm the withdrawal.
3) The conversion rate is dictated by Mastercard International, this can be found on their website.
If you're withdrawing a currency other than USD, it will first be converted from the native currency to USD and then from USD into AUD.